A high share of foreign currency denomination of domestic public debt in rules out any recourse to inflation tax as an effective adjustment device. Anti- inflation policies based upon hard peg regimes may remove the exchange rate risk in the short run but - as pointed out by Argentina’s...

Questo lavoro analizza l’efficacia relativa di due possibili contesti di riferimento della futura azione di politica economica in ambito europeo in termini di obiettivi di stabilizzazione: il primo, caratterizzato dall’attuale architettura istituzionale e il secondo, da un sistema fiscale di...

This paper aims to construct a high-frequency coincident indicator of economic activity for Lombardy and for the provinces of Milan and Pavia, by using the dynamic factor model approach introduced by Stock e Watson (1998a e 1998b). The principal component analysis is first used to summarize the...

This paper aims to construct a high-frequency coincident indicator of economic activity for Lombardy and for the provinces of Milan and Pavia, by using the dynamic factor model approach introduced by Stock e Watson (1998a e 1998b). The principal component technique is first used to summarize the...

This paper aims to construct a high-frequency coincident indicator of economic activity for Lombardy and for the provinces of Milan and Pavia, by using the dynamic factor model approach introduced by Stock e Watson (1998a e 1998b). The principal component analysis is first used to summarize the...

This paper aims to construct a high-frequency coincident indicator of economic activity for Lombardy and for the provinces of Milan and Pavia, by using the dynamic factor model approach introduced by Stock e Watson (1998a e 1998b). The principal component technique is first used to summarize the...

Italian Abstract: Il presente lavoro analizza la sensitività delle stime del PIL potenziale e dell'output gap utilizzate nel contesto del processo di sorveglianza del Patto di stabilità e crescita. Il metodo di stima è quello della funzione di produzione adottato dalla Commissione europea e...

Italian Abstract: Il turismo russo in Italia sta assumendo un peso, anche in termini economici, sempre più rilevante che, al di là di eventi sfavorevoli contingenti, tenderà a consolidarsi e a svilupparsi anche nel futuro. Tuttavia, nonostante l'importanza di questo segmento turistico,...

This paper aims to construct a high-frequency coincident indicator of economic activity for Lombardy and for the provinces of Milan and Pavia, by using the dynamic factor model approach introduced by Stock e Watson (1998a e 1998b). The principal component technique is first used to summarize the...

This paper aims to construct a high-frequency coincident indicator of economic activity for Lombardy and for the provinces of Milan and Pavia, by using the dynamic factor model approach introduced by Stock e Watson (1998a e 1998b). The principal component analysis is first used to summarize the...