This paper shows yearly estimates of income inequality in Italy from 1900 to 1950. By constructing dynamic social tables, we comprehensively assess inequality across all components of Italian society. In a context of declining inequality across Europe, interwar Italy reveals a singular...

We study how income inequality affects monetary policy through the inequality-household debt channel. We design a minimal macro Agent-Based model that replicates several stylized facts, including two novel ones: falling aggregate saving rate and decreasing bankruptcies during the household's...

This paper delves into geographical agglomeration patterns of economic activities focusing on the connection between these agglomeration tendencies and sectoral patterns of innovative activities. Within a broad evolutionary perspective, we refine upon incumbent statistical models, trying to...

This paper investigates the deindustrialization process in Germany and Spain from 1995 to 2018. It is argued that the deindustrialization trajectories of each country are partially related to their growth models. An analysis in two steps is conducted. First, using the OECD input-output tables, a...

As far as standard measures of income inequality are concerned, the Nordic countries rank among the most equal economies in the world. This paper studies whether and how this picture changes when the focus is on inequality of income composition, meaning the heterogeneity in individuals' factor...

In the centennial of the March on Rome, this paper contributes to the political economy of Italian Fascism by addressing in quantitative terms the fortunes of Italian economic elites during the interwar period. Macro-economic indicators indicate capital accumulation and high profits, in a period...

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital development" very broadly. We begin with the observation that...

This paper investigates firm-level dynamics of labour productivity in China's manufacturing sector over the 1998-2007. Underlying the aggregate evidence of dramatic growth of labour productivity, one observes a large, even if shrinking, intra-sectoral heterogeneity. A major process of both...

The aim of this paper is to test the presence of strategic interactions in government spending on Research and Development (R&D) among EU-15 countries. We add to the literature on public choice strategic interactions in general, and to work on R&D spending in particular. We take account of...

Using an analytically solvable equilibrium model, we study how the distribution of economic activities is affected by the trade-off between pecuniary externalities, as dependent on transportation costs, and localized technological externalities, as dependent on inter-regional spillovers. We...