Self-reported life satisfaction (SRS) in Italy has started to decline well before the current crisis. This paper explores the relationship between SRS and quality of life in Italy, using the ISAE data-base on households. SRS was surveyed on 2000 individuals in May 2008, November 2008 and April...

This paper presents the main features of the macroeconomic model being used at The Levy Economics Institute of Bard College, which has proven to be a useful tool in tracking the current financial and economic crisis. We investigate the connections of the model to the 'New Cambridge' approach,...

This paper presents a framework to assess the likely impact of fiscal austerity in the Euro area, as a response to the turmoil in the financial markets. We provide some evidence on the sequence of events which generated public deficits and debts, and show that rising debts and deficits were the...