In the current debate on the relationship between inequality in income distribution and growth one of the possible link works through the access to education. After reviewing this debate, a formal model show how the imperfection of financial markets makes educational choices dependent on the...

This paper contributes to the goal-versus-instrument independence debate for the ECB exploring how these alternative monetary arrangements perform when the fiscal authority pursues a strategy of debt reduction in the long term but retains fiscal flexibility in response to supply shocks. If...

Mandatory disclosure of evidence and double jeopardy are considered to be among the most important bulwarks against prosecutorial misconducts. While protecting the generality of defendants in the criminal process, we show that under certain reasonable assumptions, these procedural mechanisms...

After a brief survey of the literature about the existence of a Nash Equilibrium in the class of the nonatomic games, we prove the existence of an equilibrium in the class of the nonatomic games where the players' payoff depends over the average strategy of finitely many convex and disjoint...

L’emergere dell’economia del settore nonprofit è certamente una delle realtà più interessanti nel recente panorama economico e sociale. Non solo il nonprofit sta raggiungendo anche in Italia dimensioni economiche (in termini di occupazione e produzione) rilevanti, ma esso sempre più si...

We introduce Cournot competition and endogenous entry in an oth- erwise neoclassical macroeconomic framework. First, we develop a model with exogenous savings à la Solow describing the dynamic path of busi- ness creation. Then, we develop a model à la Ramsey describing the dynamic interaction...

Banking intermediaries help to coordinate different agents’ plans, reducing the uncertainty that might otherwise hamper transactions because of disruptive “lemon” problems. By establishing trust relationships based on private information, banks allow risk pooling and provide insurance to...

This paper provides a comprehensive econometric analysis of some debated issues concerning the political and institutional determinants of fiscal policy outcomes. Several innovative results are obtained. It turns out that a significant effect on fiscal policy formation can be traced back to the...

In this paper we study the effect of a micro-level measure of flexicurity on workers job satisfaction. To this aim, using micro data from the Eurobarometer survey, we split workers in different groups according not only to their employment contract (i.e. permanent or temporary), but also to...

Using panel data for 157 countries over the period 1999-2005 we empirically investigate the politics involved in IMF economic forecasts. We find a systematic bias in growth and inflation forecasts. Our results indicate that countries voting in line with the US in the UN General Assembly receive...