The paper examines the fragmentation of production from the view-point of industrialised countries. From this perspective, the following questions are addressed: how do local systems evolve in the process of de-localisation of productions? Which are the short term and long term effects to be...

In this paper we show that the possibilistic mean values produce computation results that may differ in a non trivial may from those obtained with the fuzzy extension principle. The evidence is carried out by comparing some examples derived from several models in finance and economics.

In this paper we show how a fuzzification process can benefit of the F-transform and possibility distributions.

This paper investigates the impact of the interaction between product, labor and financial market imperfections on firms’ investment by using a panel data of European firms over the period 1994-2008. It studies the impact of product and labor market regulations on firm investment and how it...

Fifty years ago Milton Friedman published a book entitled A Program for Monetary Stability. In it he outlined a number of suggestions for the conduct of monetary and fiscal policies that he thought would contribute to monetary stability and pari passu to price stability and a greater degree of...

In this paper we compare a traditional demand oriented model to a non-traditional capital budgeting model of bank lending based on movements in the equity cost of capital for France, Germany, and the Euro area. Using non-nested hypothesis tests and omitted variables tests, we find that we reject...

In this paper we address the question whether fiscal incentives and regulation are the most appropriate tools to increase productivity in energy sector. Doubts exist about whether these are the most effective tools for improving productivity since changes in productivity are usually related to...

Global structural factors both monetary and real played a prominent role in the burst of subprime crisis: 1) the Bretton Woods II international monetary system; 2) the reduction of US real investment return compared with competing countries. We develop a theoretical model to analyze the impact...

In this paper we discuss the strategic importance of communication and Intranet for theItalian Small and Medium Enterprise (SMEs). We analyse the case of Fornari SpA, an Italian medium size clothing and shoes manufacturer that uses internet as a communication tool. The aim of this study is to...

We present a representation of fuzzy numbers and its application to the numerical solution of fuzzy differential (initial value) equations (FDE).