We study monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each firm. We find the following results: (i) technology and government spending shocks have different effects on growth; (ii) disinflationary monetary policies entail positive...

Investigating on the reasons of British overseas investments (1850-1913) we analyze two different approaches on data concluding that they are not different from a stochastic view. Inquiring on ‘push’ approach, we find that exists negative correlation between GDP and overseas...

During the years between 1861 and 1893 six banks were authorized to issue notes redeemable in gold or silver — though with frequent episodes of suspension — and accepted at par in Italy. Because of the existence of several issuing banks the Italian experience was often referred to as an...

The paper traces the principle of monetary stability throughout the political and cultural debates, which Luigi Einaudi contributed to since 1943, and the discussions in the Sub-Committees, the Committee and the full House of the Constituent Assembly in 1946-47 up to the approval of the Charter....

In this paper we estimate the current account of the balance of payments of Italy�s Southern and Northern regions for the period 1998-2000. In our scheme the General Government is considered as a non-resident institution; fiscal revenues and expenditure generate credits and debts in the...

The performance of tax receipts in Italy during the period 1978-2006 is analysed through the relationship between the growth of revenue and the evolution of the macroeconomic framework. Series of actual tax receipts are adjusted to take account of discretionary measures, transformed into...

The article examines public finance developments and its medium and long term prospects in the new member States of the European Union. Budget deficits have mostly a structural nature and require timely policy interventions, particularly in the area of social security spending. National economic...

The educational attainment of the Dutch labour force is lower than in neighbouring countries. Despite this worrying picture, and the fact that financial resources devoted to education are relatively small, it is argued that increasing public expenditure is not the obvious answer. As the social...

Tra le proposte di riforma fiscale avanzate nel secondo dopoguerra assumono particolare enfasi quelle presenti nelle posizioni di Visentini e Cosciani, espresse nel 1948 in seno alla Commissione Vanoni; posizioni intorno alle quali ruoterà tutto il dibattito relativo alle ipotesi di riforma...