The main goal of this paper is to estimate the preferences of the Italian society towards equity in order to verify whether preferences i) have changed across the years, and ii) can be related to specific sociodemographic characteristics. Introducing equity concerns in the implementation of...

This paper investigates the way in which job mobility contributes to the emergence of a gender wage gap in the Italian labour market. We show that men experience higher wage growth than women during the first 10 years of their career, and that this difference is particularly large when workers...

Monetary policy analyses usually assume an atomistic private sector, thereby ignoring potential interactions between policy and wage-setting decisions. Yet, non-atomistic wage setters are a key feature of several industrialized economies. We study the economic consequence of non-atomistic agents...

n this paper we develop a new way of modelling time variation in term premia. This is based on the stochastic discount factor model of asset pricing with observable macroeconomic factors. The joint distribution of excess holding period US bond returns of different maturity and the fundamental...

Height data offer insights into the well-being of populations and historical periods for which other indicators are lacking. Researchers modeling historical heights have typically relied on the restrictive assumption of a normal (Gaussian) distribution, only the mean of which is affected by age,...

We study the determinants of collateralisation on the universe of credit files of non individual borrowers in a “Grameen’s type” Bank (Banca Popolare Etica) which aims to reconcile economic sustainability with the pursuit of social goals. The extremely high share of uncollateralized loans...

We prove that for generic plurality games with positive cost of voting, the number of Nash equilibria is finite. Furthermore all the equilibria are regular, hence stable sets as singletons.

This paper contributes to the literature on the role of technology shocks as source of the business cycle in two ways. First, we document that time-series of US productivity and hours are apparently affected by a structural break in the late 60’s, which is likely due to a major change in the...

The Paper draws its motivation from the observation that, three years into the single currency, EMU financial markets are making only slow progress towards integration and from the belief that economic history can offer useful insights as to the causes of the phenomenon. In this vein, we...

Within a one-sector, infinite-horizon representative agent model with technological externalities and a convex-concave production function, this paper derives a capital subsidy policy that simultaneously eliminates the wedge between private and social marginal products of capital, and achieves a...