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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...
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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...
Persistent link: https://www.econbiz.de/10010738358
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...
Persistent link: https://www.econbiz.de/10010984351
Capital account liberalization and exchange rate regime choice, what scope for flexibility in Tunisia? The adoption by Tunisia of structural reforms of its economy in a context of gradual opening since 1986, had allowed the instauration in January 1993 of the convertibility of its current...
Persistent link: https://www.econbiz.de/10005407508
The recent debates over discriminatory versus uniform-price auctions in the UK and elsewhere have revealed an incomplete understanding of the limitations of some popular auction models when applied to real-world electricity markets. This has led certain regulatory authorities to prefer...
Persistent link: https://www.econbiz.de/10005407509
In a Bayesian game players play an unknown game. Before the game starts some players may receive a signal regarding the specific game actually played. Typically, information structures that determine different signals, induce different equilibrium payoffs.In zero-sum games the equilibrium payoff...
Persistent link: https://www.econbiz.de/10005407510
This paper characterizes interim efficient mechanisms for public good production and cost allocation in a two-type environment with risk neutral, quasi-linear preferences and fixed size projects, where the distribution of the private good, as well as the public goods decision, affects social...
Persistent link: https://www.econbiz.de/10005407511