The Italian joint-stock banking system has faced three main crises: in 1897, with the demise of Societa Generale Italiana di Credito Mobiliare (Pantaleoni, 1936); in 1921-1923, with the crisis of two of the four main joint-stock banks, Banca Italiana di Sconto (Falchero, 1990) and Banco di Roma...

The paper takes issue with the views expressed by Luis Bértola, Christopher Lloyd and Deirdre McCloskey in their commentaries. Many of the points raised are relevant and worth consideration. However, McCloskey's ill-informed critique is rejected along with her binary opposition between economy...

It is often said that history matters, but these words are often little more than a hollow statement. In the aftermath of the Great Recession, the view that the economy is a mechanical toy that can be fixed using a few simple tools has continued to be held by economists and policy makers and...

There is very little evidence on the effects of the minimum wage on prices in the international literature and none whatsoever for developing countries. This paper analyzes the effects of the minimum wage on prices using monthly Brazilian household and price data from 1982 to 2000 aggregated at...

A key area of focus in the economic reform process and the design of a favorable business environment is labor market legislation. Montenegro has obviously failed in this area. After nearly 13 years since the beginning of the transition process, or five years since the beginning of Economic...

In many countries the shadow employment has a very high priority among policymakers. A new time series for this component of the labour market has been recently released by the Italian institute of statistics. Taken together they give the motivation and the occasion for a fresh analysis of the...

Using an econometric procedure that corrects for both self-selection of individuals into their preferred compensation scheme and wage endogeneity, this study investigates whether significant differences exist in the job satisfaction of individuals receiving performance- related pay (PRP)...