Questo lavoro si propone di analizzare in un modello a due periodi l’effetto sull’investimento prodotto dall’incertezza aggregata – rappresentata nel modello dalla volatilità di uno shock tecnologico. La semplificazione del modello biperiodale permette di illustrare con semplicità la...

Recently, it has been argued that the notion of a European social model is misleading and that there are in fact different European social models with different features and different performances in terms of efficiency and equity. In this paper, we look at the welfare state from a political...

We study the incentives for a ''diagonal'' merger between two Internet Service Providers, one a wireless retail only ISP in two origination markets, and the second a vertically integrated wired retailer in one market and an upstream provider in the other. The merger’s effects depend on...

Distinguished trade theorists maintain that a national economy cannot be uncompetitive as a whole, contrary to the frequent statements of many politicians, because a country must possess a comparative advantage in some sector according to Ricardo’s principle. In this paper the author...

This paper discusses the macroeconomics of NFA at the Euro Area level, making use of the cointegrated VAR methodology. The wish to contribute to the literature on EMU motivates the choice of the topic; the non-stationarity of the data explains the choice of the methodology. The main conclusion of...

The main aim of this article is to investigate the sources of non-neutrality in policy games involving one or more trade unions. We use a simple set up in order to clearly expose the basic mechanisms that also work in more complex frameworks. We show that there are common roots in the...

Intorno alla famosa controversia che si accese fra Keynes e Hayek fra il 1931 ed il 1932 è nata una intera letteratura, divenuta negli ultimi anni sempre più folta. Non tutti gli autori che hanno contribuito a questa corposa messe di scritti hanno approfondito i problemi strettamente analitici...

We deal with a question that is central in a theory of justice, that of social conditioning and personal responsibility. Roemer’s attempt to separate the latter from the former, in order to circumscribe redistributive public policy, is of the utmost interest but has significant...

Some of the concerns about European Union enlargement include the effects that it might have on the economies of the incumbent countries and on the Budget of the Union. Entering an Economic and Monetary Union is not a free lunch for the acceding countries either. In this paper we analyse how the...

This paper examines the critical remarks that D’Orlando (2005) addresses to the classical theory of value based on ‘normal’ positions and briefly comments on the alternative dynamic analysis of short-run prices that he recommends. In particular, the first part refutes...