The Paper draws its motivation from the observation that, three years into the single currency, EMU financial markets are making only slow progress towards integration and from the belief that economic history can offer useful insights as to the causes of the phenomenon. In this vein, we...

The Paper draws its motivation from the observation that, three years into the single currency, EMU financial markets are making only slow progress towards integration and from the belief that economic history can offer useful insights as to the causes of the phenomenon. In this vein, we...

We argue against the use of composite indices, such as the Human Development Index (HDI), in economic history. We show that the HDI can be interpreted as a formal representation of the analyst's ethical system. We support our claim by introducing a new class of paternalistic social welfare...

The paper focuses on durable goods and their role in the measurement of living standards. The paper reviews the theoretical underpinnings of the methods available to estimate the value of the services flowing from consumer durable goods. It also provides a unified framework that encompasses the...

The paper describes the evolution of the well-being of the Italians during the 150 years since the country's unification. The progress in material standard of living was substantial, with GDP per capita growing 13 times between 1861 and 2010 and hours of work (and hence effort) falling...

The paper focuses on durable goods and their role in the measurement of living standards. The paper reviews the theoretical underpinnings of the methods available to estimate the value of the services flowing from consumer durable goods. It also provides a unified framework that encompasses the...

The paper argues that household budgets are the best starting point for investigating a number of big questions related to the evolution of the living standards during the last two-three centuries. If one knows where to look, historical family budgets are more abundant than might be suspected....

With the end of the celebrations marking the 150th anniversary of the unification of Italy, the availability of a large body of new historical statistical data calls for a redefinition of the features of Italian economic growth. The paper presents new estimates – at both national and regional...