Empirical researchers usually prefer statistical models that can be easily estimated using standard software packages. One such model is the sequential binary model with or without normal random effects; such models can be adopted to estimate discrete duration models with unobserved...

During the last decades there has been a widespread relaxation of legal entry barriers into the banking industry, with potential benefits for financial integration and competition. Obstacles to banks' geographical and business expansion have been removed and branching has been substantially...

Using a very large panel dataset of Italian manufacturing firms, we test an empirical model of foreign markets participation with sunk costs. The period of analysis (1982-1999) is exceptionally informative: the large fluctuations in the lira exchange rate determined substantial flows of firms in...

the paper evaluates the existence of segmentation in the Italian labour market along the lines of the dual labour market theory. It shows that even workers belonging to traditionally strong groups - such as male, head of family, in the central classes of age may be confined in the secondary...

The ECB objective of price stability is given a quantitative content as a year-on-year growth rate in the euro area HICP close but below 2% over the medium term. While this objective is referred to area-wide price developments, in anticipating monetary policy moves, market analysts pay...

The negative association between fertility and female labour market participation is complicated by the endogeneity of fertility. We address this problem by using an exogenous variation in family size caused by infertility shocks, mainly related to the fact that nature prevents some women from...

Sample surveys providing high quality information on both total household expenditure (consumption) and income are not commonly available. Nevertheless, surveys focusing on income usually do collect some information on expenditure data. A main drawback of this practice is that it could let some...

Starting from the assumption that economic insecurity is a key factor behind childbearing decisions, we empirically assess how fertility intentions are affected by job instability, which may severely compromise the employment status of workers, and economic disadvantages in terms of household...

The sample estimates are uniformly below those of the Financial Accounts, even after harmonising all the definitions and the evaluation criteria. Such a problem can stem from the interviewee�s unwillingness to disclose the actual value of the asset (under-reporting). The paper presents a...