This paper presents some "statistical facts" about the Italian business cycle. Our results suggest that in the last decade the Italian economy has been increasingly synchronizing with the Euro Area and still lags behind the US cycle. In line with other industrial countries, the Italian cycle has...

In this paper we make use of very detailed sectoral data for Italy to study both the aggregate evolution and the sectoral diffusion of ICT investment expenditure during the 1990s. In the aggregate we find that the 1992 recession strongly halted ICT investment, and only in 1999 the Italian...

This paper explores thè mie of business services in knowledge accumulation and growth and the determinants of knowledge diffusion including the role of distance. A continuous time model is estimated on several European countries, Japan, and the US. The results of the estimation and the policy...

We claim that we currently live in a banking regulatory bubble.We review how: i) banking intermediation theory hinges on dealing with borrower-lender asymmetry of information; ii) instead, the presence of complete information is keystone of finance theory. Next, we document how finance theory...