This paper examines the information provided to the private sector by central banks. By using the principal component analysis, we investigated the variance of the procedural rules followed by nine major central banks about information treatments. We investigate problems related to the...

Countries characterized by strong workers’ political rights tend to exhibit a strong and concentrated corporate ownership structure. One explanation is that employees' political rights influence corporate governance: systems characterised by strong employees' rights tend to be balanced by...

By considering a standard game between the Government and a centralised trade union, we investigate the robustness of the claim that corporatism has a positive effect on macroeconomic performance. We test this claim with respect to different kinds of non-co-operative equilibria, model...

Following both the balance-sheet approach to currency crises and the financial fragility literature, the paper presents an open economy macrodynamical monetary growth model with the aim of giving an endogenous characterisation to the process that, over time, leads an emerging economy to...

This paper argues that, in the September 1992 European currency crisis, market trends in derivatives, in terms of price volatility and change in volumes traded, might have represented an early indicator, in reference to the spot market, of the lack of confidence in the ability of the Italian...

The paper addresses the issue of dynamic relationships between environment, health and growth. Its aim is to show that the dynamic of the three variables is very difficult to predict, and depends on the value of key parameters: nonetheless the paper tries to show that there is probably, at least...

In the framework of a Diamond-Dybvig-Peck-Shell banking model, in which a broad class of feasible contractual arrangements is allowed and which admits a run equilibrium, we stress the assumption that depositors are uncertain of their position in the queue when expecting a run. The formalization...

In this paper we perform an empirical analysis on the relationship between private consumption and underground economy for the Italian case. We find that private market consumption and underground (or hidden) consumption may be defined as ''complementary goods'': an increase in underground...

According to theoretical and empirical evidence young workers are more likely to be overeducated than adult ones, especially in countries where the educational attainments of young people grow quickly and the school-to-work transition is difficult and/or lengthy. Nonetheless, if overeducation...