D<sc>ow</sc> S., M<sc>ontagnoli</sc> A. and N<sc>apolitano</sc> O. Interest rates and convergence across Italian regions, <italic>Regional Studies</italic>. The purpose of this paper is to investigate the evidence for economic convergence across Italian regions using trends in interest rate spreads and premia as indicators of regional...

The aim of the paper is to estimate the effects of structural public balance adjustment on growth in 25 OECD countries with special attention to selected Eurozone countries in the years 2000–2013. The estimates show a positive effect of discretionary fiscal policy on GDP growth and support the...

This paper investigates whether monetary policy has asymmetric effects on stock returns of the EUM countries at aggregate levels and, for six industry portfolios in France, Italy, Germany, Belgium and Netherlands respectively. In this work, a different measures of monetary policy innovation is...

Stability of money demand is a crucial issue for the efficacy of monetary policy. This is particularly true in the presence of significant exogenous shocks to the monetary system. By implementing the most recent econometric testing procedures, this article intends to investigate the consistency...

This paper analyzes the 2002 Argentine crisis using the Jeanne and Masson (2000) model with sunspots. Testing this model empirically through a Markov-switching model suggests that self-sulfilling prophecies is a reasonable explanation for the devaluation of the peso.

In this paper we construct a model of a policy game in order to analyse the optimal reaction function of the Central Bank to a shock in the asset market. In doing so, we consider three different noncooperative games: Nash equilibrium, Stackelberg equilibrium with “FED” as leader and...

In this article, we investigate the presence of a long-run money demand in a selected group of nine developed OECD countries (G7 plus Australia and Switzerland). Our estimations are based on panel DOLS and between-dimension group-mean panel DOLS introduced by Mark and Sul (2003) and Pedroni...

The aim of this paper is to evaluate the robustness of the theory that claims restrictive effects of expansionary fiscal policy. It shows that such so-called “non-Keynesian effects” may arise from synchronous and opposite monetary policy interventions. The paper demonstrates this conclusion...

This paper explore, using Markov switching models, the dynamic relationship between stock market returns and the monetary policy innovation in 11 EUM countries and, for five of them, at each single industry portfolios. It also investigates the possibility of asymmetric effects of the ECB...