We develop and estimate a medium scale macroeconomic model that allows for unemployment and staggered nominal wage contracting. In contrast to most existing quantitative models, the employment and hours of existing workers are efficient. Wage rigidity, however, affects the hiring of new workers....

We analyze welfare maximizing monetary policy in a dynamic two-country model with price stickiness and imperfect competition. In this context, a typical terms of trade externality affects policy interaction between independent monetary authorities. Unlike the existing literature, we remain...

Extensive anecdotal evidence suggests that practices related to familism are widespread in Italian universities. However, systematic evidence is not available since information on family relations is generally unavailable or condential. We explore the relevance of family ties in the Italian...