The notion of Social System of Innovation and Production (SSIP) refers to an approach that tries to incorporate institutional elements into the economic analysis of technological change and to study the impact of these elements on long-term economic performance. The complementarities that exist...

The full employment commitments of the western governments of the post war period originated in a certain broad accord on what "modern capitalism" should allow in terms of welfare an employment and what the policy means should be to achieve it. A similar broad vision is necessary to realise the...

Analyses of structural transformations of modern developed economies have led in the second half of the 90s to two important debates. One bore on the skill bias nature of technological change, the other underlined the likely overestimation of consumer prices and therefore the underestimation of...

We estimate a two-sector DSGE model with financial intermediaries—a-la Gertler and Karadi (2011) and Gertler and Kiyotaki (2010)—and quantify the importance of news shocks in accounting for aggregate and sectoral fluctuations. Our results indicate a significant role of financial market news...