We explore distributive justice and perception of fairness using survey data concerning fresher and senior students of economics and sociology. We analyse the impact of context and education on their preferences over a hypothetical distribution of resources between individuals, presenting a...

We reconsider Svensson’s inflation-targeting proposal in a model where the need to raise seigniorage revenues determines the socially optimal inflation rate and distortionary taxes cause the inflation bias. Interpreting the targets as contracts, we show that the interaction between fiscal and...

In questo articolo si analizzano i risultati del processo selettivo che ha avuto luogo durante l'anno accademico 1997-98 e che ha portato alla nomina di 44 professori associati per il raggruppamento P01A (Economia Politica), nei suoi due stadi della ammissione alle prove orali e della...

The main results of the traditional theory of private provision of public goods in the case of identical individuals are: 1) there exists a unique Nash equilibrium pattern of contributions in which everybody contributes the same amount (Bergstrom et al. [1986]); 2) this pattern is locally stable...

Developing a model with a switching mechanism, we show how complex dynamics can be generated even though heterogeneity arises among agents with the same trading rules (fundamentalists). We assume that there are two experts which are imitated by other operators. We show that (i) market...

This paper presents an experimental investigation of strong indirect reciprocity. We examine both generalized indirect reciprocity (if A helps B then B helps C) and social indirect reciprocity (if A helps B then C helps A), in a setting where reciprocal behavior cannot be explained by strategic...

Previous estimates of Italian returns to schooling suggest that female returns are higher than male returns (Lucifora-Sestito ‘93). This is a common result in other industrialized countries, as well (Blau-Kahn ‘92 e Psacharopoulos ‘94). The aim of the paper is to evaluate the stability of...

This work develops a portfolio model of the banking firm where both the size and composition of the portfolio are jointly determined. The model provides a micro-foundation of the credit channel of transmission of monetary policy. It allows to analise the pricing policies of the banking firm, and...

In this paper we analyse the impact of fiscal policy co-ordination in a monetary union on the size of the spending bias, inflation and the optimal degree of conservatism of the central bank. Our main result is that, when the fiscal authorities internalise the spillover effects originating from...

The mainstream literature on monetary policy games under output persistence posits that: a) monetary regimes do not affect real variables in the steady state; b) optimal institutional design should entirely remove the inflation bias. We show that neither result necessarily holds if output...