The Italian economy has often puzzled foreign observers over the past fifteen years. In this article we attempt to interpret these developments. In our interpretation, some implications of which are perhaps of more than local interest, we stress the role of policies throughout the period.

In the past three years, the countries that belong to the Exchange Rate Mechanism of the European Monetary System (EMS) have experienced a very rapid process of financial integration.

The process that so many people are envisaging for EU capital markets may be summarised approximately as follows: The single currency will eliminate currency risk. This will encourage a diversification by investors based upon other risk considerations. This will lead to a tremendous growth in...

The process that so many people are envisaging for EU capital markets may be summarised approximately as follows: The single currency will eliminate currency risk. This will encourage a diversification by investors based upon other risk considerations. This will lead to a tremendous growth in...

This paper is a first attempt at evaluating the determinants of the total interest rate differentials on government bonds between high yielders, namely Italy, Spain, Sweden and Germany. In particular we address the question of the relative importance of local and global factors in the...

In the ten years 1953-62, the average price level in Italy rose every year, with the exception of 1959. The present article examines the effects of this inflationary process on income distribution. To do so the author first determines the extent to which each productive sector contributed to the...

The present work provides a first appraisal of the contribution that econometric models can make to long-run economic policy. Rather than a detailed exposition or critique of the individual models, a more general analysis is provided. The author first outlines the econometric models considered,...

The article examines a previous contribution to the problems of economic dualism by Vera Lutz, which represents a new and independent approach. The author first moves some criticisms to Lutz' diagnosis of dualism, trying to show that the emphasis laid by her on the wage level as a cause of...