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This paper presents new evidence on the patterns of price and wage adjustment in European firms and on the extent of nominal rigidities. It uses a unique dataset collected through a firm-level survey conducted in a broad range of countries and covering various sectors. Several conclusions are...
Persistent link: https://www.econbiz.de/10008527061
-crisis evidence indicates that the degree of wage rigidity is relatively high in Italy: wages remain unchanged on average for about …
Persistent link: https://www.econbiz.de/10009147375
Persistent link: https://www.econbiz.de/10011716512
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We quantify the private returns and social costs of political connections exploiting a unique longitudinal dataset that combines matched employer-employee data for a representative sample of Italian firms with administrative archives on the universe of individuals appointed in local governments...
Persistent link: https://www.econbiz.de/10005029281
Supervisors and policy makers pay increasing attention to the possible procyclical nature of banks� behaviour. Indeed, to guarantee macro and financial stability, it is important to understand whether, and to what extent, banks are affected by the macroeconomy and second round effects...
Persistent link: https://www.econbiz.de/10005609327
I show how cyclical aggregate shocks can stimulate structural reallocation activities, which in turn amplify the effect of the shock. I emphasize the informational aspects related to restructuring activities and their potential interplay with aggregate shocks. Building on work by Caplin and...
Persistent link: https://www.econbiz.de/10005113641
Bank lending expanded rapidly in Italy in the second half of the 1980s and early 1990s. By contrast, in the four years … parameters of the demand for loans in the different parts of Italy? If such differences do exist, how have they influenced recent … displays differing characteristics in the different parts of Italy. In particular, its elasticity to interest rates was lower …
Persistent link: https://www.econbiz.de/10005113545
Persistent link: https://www.econbiz.de/10000882244