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Monetary Policy Reform in a World of Central Banks
Schnabl, Gunther - 2012
The paper identifies based on the monetary overinvestment theories by Wicksell (1898), Mises (1912) and Hayek (1929) monetary policy mistakes in large industrial countries issuing international currencies. It its argued that a neglect towards monetary policy reform in a world dominated by...
Persistent link: https://www.econbiz.de/10010334476
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Was the emergence of the international gold standard expected? Melodramatic evidence from Indian government securities
Flandreau, Marc; Oosterlinck, Kim - 2011
The emergence of the gold standard has for a long time been viewed as inevitable. Fluctuations of the gold-silver exchange rate in world markets were accused to lead to brutal and unsustainable switches of bimetallic countries' money supplies. However, more recent work has shown that the option...
Persistent link: https://www.econbiz.de/10010316773
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Multiple paper monies in Sweden, 1789 - 1903: Substitution or complementarity?
Engdahl, Torbjörn; Ögren, Anders - 2007
Complementarity of money mean that two or more kinds of monies together fulfil the demand of the users better than they would without the existence of the other(-s). In this paper we study complementarity between paper monies in Sweden. We address four questions: 1) What was used as money on a...
Persistent link: https://www.econbiz.de/10010281353
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The effects of privatization and consolidation on bank productivity: comparative evidence from Italy and Germany
Fiorentino, Elisabetta; Vincenzo, Alessio De; Heid, Frank; … - 2009
directions since then: Italy privatized its publicly-owned banks while Germany has maintained a large share of state …
Persistent link: https://www.econbiz.de/10010298779
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Dynamic and distributional effects of environmental revenue recycling schemes: Simulations with a general equilibrium model of the Italian economy
Roson, Roberto - 2002
A dynamic general equilibrium model of the Italian economy is used to assess the impact of carbon taxation (or auctioned carbon permits), where additional revenue is used to cut either existing taxes on labour or on capital income. Simulation results do not support the existence of the so-called...
Persistent link: https://www.econbiz.de/10011335683
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Labor taxes, wage setting and the relative wage effect
Brunello, Giorgio; Parisi, Maria Luisa; Sonedda, Daniela - 2002
Public finance solutions to high unemployment in Europe have often been advocated during the past years. With unemployment concentrated among the young and unskilled, it has been suggested that the reduction of social security contributions for low wage earnings, financed by a carbon tax, could...
Persistent link: https://www.econbiz.de/10011335701
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The Spatial Distribution of Economic Activities in Italy
de Dominicis, Laura; Arbia, Giuseppe; de Groot, Henri L.F. - 2007
to take spatial dependence into account. Using data for Italy for the years 1991 and 2001, we apply exploratory spatial …
Persistent link: https://www.econbiz.de/10010325572
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The Italian block of the ESCB multi-country model
Angelini, Elena; D’Agostino, Antonello; McAdam, Peter - 2006
This paper documents the structure, estimation and simulation properties of the Italian block of the ESCB-multi-country model (MCM). The model is used regularly as an input into Eurosystem projection exercises and, to a lesser extent, in simulation analysis. The specification of the Italian...
Persistent link: https://www.econbiz.de/10011604706
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Does it pay to have the euro? Italy’s politics and financial markets under the lira and the euro
Fratzscher, Marcel; Stracca, Livio - 2009
’s prosperity. The paper focuses on olitical events in Italy over the past 35 years and asks whether the adoption of the euro in … 1999 has helped insulate Italy’s financial markets from the adverse consequences of its traditionally unstable political … system. We find that important political events have exerted a statistically and economically significant effect on Italy …
Persistent link: https://www.econbiz.de/10011605110
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EMU and the adjustment to asymmetric shocks: the case of Italy
Amisano, Gianni; Giammarioli, Nicola; Stracca, Livio - 2009
at a time-varying VAR model of Italy’s relative performance compared with the rest of the euro area, spanning from 1976 …
Persistent link: https://www.econbiz.de/10011605174