In this paper we address the Rogoff's (1996) puzzle on the exchange rate excess volatility and the slow convergence to PPP. We argue that the evidence in favour of the latter stylised fact could be biased by the adoption of unreliable measures of the speed of convergence. In fact, adopting...

The move towards export-oriented development strategies by China has increased concerns about the ability of Italian manifactures to effectively face price competition from emerging economies. This paper explores the hypothesis that the superior quality of Italian goods could support Italian...

In the last decades a liberalization of the electric market has started; prices are now determined on the basis of contracts on regular markets and their behaviour is mainly driven by usual supply and demand forces. A large body of literature has been developed in order to analyze and forecast...

This paper examines the relationships between copyright and competition law, paying special attention to the elements of conflict which have repeatedly emerged from recent antitrust cases in both the United States and Europe. In particular, the thesis argued is that the framework of intellectual...

The present paper analyses the relationship between competition and copyright law, paying special attention to two recent antitrust proceedings, the Italian Groupe Canal+/Stream and the European NDC Health/IMS Health. In particular the article attempts to interpret the existence of objective...

One of the most problematic aspects in the work of policy makers and practitioners is having efficient forecasting tools combining two seemingly incompatible features: ease of use and completeness of the information set underlying the forecasts. Econometric literature provides different answers...

Growing shares of international trade flows consist of intermediate and unfinished goods shipped from one country to another to combine manufacturing or services activities at home with those performed abroad. This configuration of the productive structure has been named “internationally...

The main objective of this paper is to focus on the effect of monetary policy on asset prices for Germany and UK. Studying this relationship is complicated because asset prices and interest rates are endogenously determined, behave simultaneously and can be affected by other variables. In order...

The aim of this work is to verify whether the price of a bank quoted in the stock market is affected by two types of news: news coming from the market and announces defined "price sensitive" publicly released by the bank. Making use of a methodology based on heteroskedasticity, proposed in the...

This work delves into the so far unsatisfactory attempt made by theory to provide formal proof of the thesis, which is widely shared and supported by empirical evidence, that a stronger product market competition reduces the degree of firm x-inefficiency. Both through an in-depth critical...