This paper combines the literature on financial crises with that on international migrations by investigating whether the increasingly large flows of workers' remittances can help reduce the probability of current account reversals. The rationale for this stands in the great stability and low...

The recent debate on Italy's unsatisfactory economic performance has been focused on the increasing competitive pressures exerted by foreign firms localized in low-wage developing countries and specialized in products where Italy used to hold a comparative advantage. This paper aims at...