Fodder for live-stock was, in Quesnay’s view, a critical portion of the farmer’s circulating capital. By increasing recourse to stabling it increased the availability of manure which in turn would increase yield per acre of land. Expenditure on fodder is in fact the single item that best of...

According to mainstream scholars, European employement and productivity faltered because rigid labour markets hinder the adjustement to the new ICT technologies. Whereas this view matches the raise of unemplyement in low quality jobs, it is not able to explain the differential rates of job...

This paper uses a non-overlapping generations model of endogenous growth to describe the effect of human capital’s heterogeneity on economic growth. In the model, workers can accumulate human capital not only through education, but also through on-the-job training (j-t); enterpreneurs can...

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...