We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow: (i) monetary volatility negatively affects long-run growth; (ii)the relation between nominal volatility and growth depends on the persistence of the nominal shocks and on the...

Our paper aims to investigate conditional and unconditional motivations in investment games by using a counterfactual methodology and attitudinal survey and self-reported information about participants’ behavior. We have combined different methodologies to verify the coherence between...

By making use of a hazard function we derive a hybrid New Keynesian Wage Phillips curve (NKWPC) that is able to account for in‡ation persistence. This approach relies on the assumption that the probability to change a wage is a positive function of the time elapsed from last reset. By using...

This paper analyzes strategic interactions and contagion effects in countries joined to a monetary union. Using game theory and a cost-benefit analysis, the paper determines the set of equilibrium solutions under which country-specific shocks are transmitted to other member countries giving rise...

Questo lavoro si pone come obiettivo quello di proporre una definizione di innovazione sociale utile per analizzare dei processi sociali che si sviluppano dal basso, attraverso l’azione trasversale di individui, per affrontare bisogni insoddisfatti dalle istituzioni tradizionali con l'utilizzo...

We derive and estimate a small-scale DSGE model augmented with price and wage adjustment governed by a time-dependent mechanisms. Byusing positively sloping hazard functions, we micro-found price and wage inflation intrinsic persistence, as we derive price and wage Phillips curves characterized...

L’ambiente per sua natura è un bene pubblico e la sua tutela richiede, quindi, qualche tipo d’intervento. L’uso delle risorse naturali per attività economiche, anziché a fini di protezione ambientale, ad esempio, può essere regolato a livello di comunità locale per evitare un...

Our paper reconsiders the triadic design proposed by Cox (2004) to identify trust and reciprocity in investment games. Specifically, we extend the design in two directions. First, we elicit expectations by a fixed-fee incentive scheme and test the coherence of them with the triadic outcomes. We...