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business sector labour productivity in the major OECD countries. The method implies that the trend is the long-run forecast of …
Persistent link: https://www.econbiz.de/10005792503
trend and cycle when the variable is integrated of order one (I (1)). This paper considers the multivariate generalization …
Persistent link: https://www.econbiz.de/10005123570
computed from the posterior mode of the joint distribution of admissible models both in the fully identified and in the …
Persistent link: https://www.econbiz.de/10009493558
product and in labour markets, in the determination of sectoral employment growth in Italy during the last forty years (1951 …
Persistent link: https://www.econbiz.de/10005666840
This paper uses comparative statistics in a simple three-period overlapping generations model to show that any pay-as-you-go mechanism for public retirement pensions, when adopted in a dualistic economic system, penalises the most dynamic demographic groups, i.e., the <MI>developing<D> rather than the...</d></mi>
Persistent link: https://www.econbiz.de/10005791243
We look at the role of the financial sector in the context of the relatively backward regions of Southern Italy (the so … considerably riskier than those elsewhere in Italy. It also indicates, however, that risk accounts for only half of the 200 basis … and argue that Southern banks tend to perform their screening function less efficiently than banks in the rest of Italy …
Persistent link: https://www.econbiz.de/10005123529
is therefore somewhat surprising to observe that Italy, in comparison to the United States, displays less inequality … around the idea that even if in Italy moving up on the social ladder is easier, the incentive to move may be lower, making …
Persistent link: https://www.econbiz.de/10005136455
In many countries two decision-making institutions, the government and the central bank, manage fiscal and monetary policy separately. Such decentralization can lead to a change in the optimal inflation-output trade-off. In fact lack of cooperation can result in a change in the position of the...
Persistent link: https://www.econbiz.de/10005281276
find that in Italy borrowing constraints are more severe than in the United States, and that they are more stringent for …
Persistent link: https://www.econbiz.de/10005281355
Exploring the period since the inception of the euro, we show that secondary-market yields on Italian public debt increase in anticipation of auctions of new issues and decrease after the auction, while no or a smaller such effect is present for German public debt. However, these yield movements...
Persistent link: https://www.econbiz.de/10011083630