The groundbreaking of the original building yard for the European Monetary Union (EMU) dates back to 1970 with the Werner Plan envisaging the gradual introduction of a single currency in member states of the European Union. The dollar and oil crises of 1971-1973 imposed a suspension to the...

This paper evaluates the impact of the taxation system on factor costs, investment and economic activity. This is performed on the basis of detailed analysis of the Italian tax system and the production of own estimates of the user cost of capital to labour, which capture the contribution of tax...

This paper formally proves that economic outcomes are not independent from the corporate governance system and its ability to protect shareholders’ rights. This is achieved by extending a neoclassical growth model to incorporate an imperfectly functioning market for managerial labour enabling...