Italian abstract: L'obiettivo è spiegare in maniera succinta l'asset pricing nell'ipotesi di mercati completi. Dopo aver dato notazioni e definizioni, viene esposto il Terema fondamentale dell'Asset Pricing, il Risk-Neutral Pricing e le condizioni di non-arbitraggio. Date queste nozioni, il...

Italian Abstract: La letteratura economica e quella dei principali organismi internazionali sui tassi di rendimento dei debiti sovrani dell'area euro non sembra aver preso in considerazione il tema in un ottica di intermediazione finanziaria, sul terreno suo proprio. In questo articolo si tenta...

This paper assess the freedom of capital movements between France and Italy in the late 19 century looking at the market for the most important Italian bond, the Rendita Italiana. Taking into account long time series of Rendita prices both in France and in Italy the paper looks at the...

Italian Abstract: Il lavoro illustra lo stato di avanzamento del processo di riforma dei benchmark di tasso di interesse. Nelle principali aree valutarie sono stati introdotti tassi giornalieri che possono essere considerati privi di rischio, come lo €STR nell’area dell’euro. La produzione...

This paper evaluates the economic effects of Structural Funds in Italy. After presenting the distribution of Funds across Italian Regions over the period 1996-2007 and documenting how the Regions manage the financial resources recevied by EU, the paper assesses the impact of Structural Funds on...

This empirical paper investigates two important and controversial economic relationship: the link between underground employment and unemployment, and the connection among underground economy and local factors. The key results of this analysis are two. The first: the causality relationship...

The paper analyses the static and dynamic risk of poverty in the enlarged European Union. In the first part of the paper an overview of cross-sectional poverty rates in 25 European Member States (apart from Romania and Bulgaria) using several indexes is presented and assessed. In the second...

The aim of the paper is the explanation of the instability of the financing rules embracing the political-electoral cycles approach. A demonstration of the two following assertions is presented: - when Local Governments (Regions) are the sole manager of the HCS' expenditure, the increase of HCS'...

SaniRegio is an econometric model, based on fixed effects panel techniques, that investigates the level of efficiency of Italian Regions in governing their health care systems. As a result of the model, we obtain a measure of the efficient or standardized expenditure that may be compared to the...