This paper investigates the effects of the Italian REITs governance and intermediation structure on market prices discount over NAV figures. The hypothesis is that the mandatory provision of a shareholders' meeting in the article of association of newly established REITs offers potential...

New-Keynesian macroeconomic models typically conclude that long-run unemployment gravitates around the NAIRU, regardless of the nominal inflation rate. Contrastingly, the model of Akerlof, Dickens and Perry (2000) (ADP) predicts that excessively low inflation may result in a situation where...

This paper uses a regression-discontinuity design to identify the causal impact of degree class on the first destinations of UK graduates. We exploit the discontinuous relationship between degree class and the mean grade achieved by graduates in their last year at university, which is induced by...

The essay is concerned with the protection of investors against purchases of ‘junk bonds'. As financial transactions are characterized by inherent risk, contractual unconscionability is not the relevant legal issue to be dealt with. The argument submitted by the author is therefore that...

This paper examines how spatial price differentials affect income distribution in Italy. The distribution of household income is ''reshuffled'' after controlling for the purchasing power of households residents in different regions, but only when housing price variations are included in the PPP...

Sizeable gender differences in employment rates are observed in many countries. Sample selection into the workforce might therefore be a relevant issue when estimating gender wage gaps. This paper proposes a new semi-parametric estimator of densities in the presence of covariates which...

We develop and estimate a microeconometric model of household labour supply in four European countries representative of different economies and welfare policy regimes: Denmark, Italy, Portugal and the United Kingdom. We then simulate, under the constraint of constant total net tax revenue...

Indicators are used in all steps of the policy cycle: to assess existing policies or to develop new strategies. They mark where a society stands, where it wants to go and how remote is it from where it wants to arrive. Indicators (and indices) are widely used tools to measure the progress of a...

• The study investigates the motivations driving Chinese outward direct investment to Italy. The analysis is based on secondary sources and in-depth interviews with key informants and senior managers of Chinese affiliates in Italy.• The empirical analysis shows that the evolution of the...