This paper analyses the issue of consumption risk-sharing in the 20 Italian regions during the period 1983-94. The tests proposed allow for regional specific departures from the hypothesis of complete risk-sharing and for the existence of non-separabilities among groups of commodities. Empirical...

In the paper we develop some price indices for the secondary market forprints and drawings in Italy for the period 1977–1999. Theempirical evidence suggests the emergence of causal links from thepainting series and consumer price series to the print and drawingsprice series. Within the...

We estimate a model of credit risk for portfolios of small and medium-sized enterprises, conditional on being a nonprofit (NP) or for-profit (FP) firms. The estimation is based on a unique data set on Italian firms provided by a large commercial bank. We show that the main variables to identify...

Art price indexes typically rely on heavily biased samples for several reasons. A refined hedonic index is developed which explicitly addresses such concerns. An empirical illustration is then provided for Symbolist paintings appearing at auctions between 1990 and 2001.

This paper proposes a price index for artists adjusted for the quality of the paintings, based on the ratio between the average market price and the average pre-sale estimate for paintings. We apply this methodology to a group of selected artists and schools presented in auctions worldwide in...

This paper assesses the appeal of potential interventions on the tourism offer of Rimini, a popular Italian seaside holiday destination, by means of a choice modelling analysis. Tourism can be viewed as a composite good, its overall utility depending on the arrangement of the component...