The lack of budget transparency and projections accuracy have been among the determinants of the last four decades high deficit and debt, as the recent 2008-2009 economic crisis has highlighted. In order to improve fiscal policy process and budget transparency, the European Union (EU) stated...

The analysis of a country's competitiveness is of great interest to policy makers. Measuring the competitiveness of a country generally requires an assessment of the overall dynamism of the economy, including productivity and GDP growth, as well as the performance of exporting firms in the...

Reforms to the Italian social security system, carried out from 1992 onwards, will dramatically change its structure in the long run. So far, empirical research has devoted more attention to their macroeconomic and financial effects while relatively less attention has been paid to analysing...

INTRODUCTION;ROLE OF FINANCIAL VARIABLES;A TWO-STEP APPROACH TO MODEL INFLATION ; MODELLING LONG-MEDIUM TERM COMPONENT OF INFLATION ;A MIXED-FREQUENCY MODEL FOR REAL-TIME FORECASTS OF INFLATION; 4 TWO FORECASTING APPLICATIONS IN REAL-TIME; REAL-TIME FORECASTS OF MONTHLY INFLATION; MODEL FORECASTS...

We propose a theory of low-frequency movements in unemployment based on downward real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise in the variance of productivity growth. Evidence based...

We simulate the macroeconomic and welfare implications of different fiscal consolidation scenarios in Italy using a medium scale two-areas dynamic general equilibrium currency-union model. Differently from similar models, ours is rich in the terms of fiscal features. We assume distortionary...

We investigate the relationship between life-cycle wages and flexicurity in Denmark. We separate permanent from transitory wages and characterise flexicurity using membership of unemployment insurance funds. We find that flexicurity is associated with lower wage growth heterogeneity over the...

This paper investigates the economic consequences of migration in the Ramsey-type dynamic optimizing context. In contrast to Hazari and Sgro (2003) conclusions, we show that with a Cobb-Douglas production function migration unambiguously reduces per-capita domestic consumption growth, whereas...

Italy's overall GDP growth has been dismal in recent years and this poor performance has been compounded by a declining trend in labour productivity and total factor productivity growth. This paper looks into growth accounting and structural indicators and analyses Italy's performance against...

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...