We simulate the macroeconomic and welfare implications of different fiscal consolidation scenarios in Italy using a medium scale two-areas dynamic general equilibrium currency-union model. Differently from similar models, ours is rich in the terms of fiscal features. We assume distortionary...

The theoretical literature has discussed different channels through which foreign direct investments (FDI) promote host country's economic growth, but empirical analyses have so far been inconclusive. In this paper we provide evidence that FDI have a positive and statistically significant growth...

The theoretical literature has discussed different channels through which foreign direct investments (FDI) promote host country's economic growth, but empirical analyses have so far been inconclusive. In this paper we provide evidence that FDI have a positive and statistically significant growth...

The theoretical literature has discussed different channels through which foreign direct investments (FDI) promote host country's economic growth, but empirical analyses have so far been inconclusive. In this paper we provide evidence that FDI have a positive and statistically significant growth...

The theoretical literature has discussed different channels through which foreign direct investments (FDI) promote host country’s economic growth, but empirical analyses have so far been inconclusive. In this paper we provide evidence that FDI have a positive and statistically significant...

Industries in a country are subject to two sources of shifts to growth opportunities: one is global and industry-specific, affecting each industry equally across countries; the other is local and country-specific, affecting all industries within the same country equally. By implementing the...

The present survey aims to summarize the most relevant findings of the theoretical models on finance and growth and to relate them to the empirical evidence. Since it is too ambitious to provide a complete understanding of the existing debate, this survey describes the most relevant...