convergence and analyses key factors explaining price differentials in a panel regression framework including per capita income … synchronised cycles in the national aggregates for most countries since the 1990s. There is an important role for income … differentials in explaining city-level house price dispersion in Germany, France, and the US (but not in Italy or Spain once …

fertility works via the impact of contributions in such a system on disposable income as well as via the impact on future … disposable income that is related to the internal rate of return of the pension system. Drawing on a unique historical data set …

lower labour income and more widespread homeownership. An expansionary monetary policy can thus be effective in mitigating …

output for the Euro area, the United States, Sweden, Australia, and the United Kingdom. Particular attention is paid to time …

at a time-varying VAR model of Italy's relative performance compared with the rest of the euro area, spanning from 1976 …

's prosperity. The paper focuses on political events in Italy over the past 35 years and asks whether the adoption of the euro in … 1999 has helped insulate Italy's financial markets from the adverse consequences of its traditionally unstable political … system. We find that important political events have exerted a statistically and economically significant effect on Italy …

in Germany and Italy, which are characterized by a large number of banks; but it is very weak in Spain and more … savings banks with smaller size in Italy. Third, heterogeneity across groups of banks belonging to the same category in any …