In this paper, we consider economies with (possibly endogenous) solvency constraints under uncertainty. Constrained ine±ciency corresponds to a feasible redistribution yielding a welfare improvement beginning from ev- ery contingency reached by the economy. A sort of Cass Criterion (Cass [10])...

The purpose of this paper is to gain insigt into the potential impact produced by a growing international integration on the labor market of economies experiencing different stages of development. The first part provides a review of the economists' debate about the impact of international trade...

In this paper the dynamic portfolio selection problem is studied for the first time in a dual utility theory framework. The Wang transform is used as distortion function and well diversified optimal portfolios result both with and without short sales allowed.

The paper explores into the empirical estimates of potential output currently produced by international economic institutions. As for the theoretical foundations of the notion, the paper endeavours to show how the shift from the Keynesian notion of potential output as a ceiling on actual...

Progress toward eradicating poverty and hunger is patchy and generally too slow. New impetus is needed to meet internationally accepted goals, better informed by recent progress and challenges. The United Nations Millennium Development Goal No. 1 (MDG-1) aims to halve the proportion of people...

Nel presente lavoro vengono evidenziate le problematiche che hanno portato alla introduzione di modelli per la struttura per scadenza con volatilità stocastica e viene riproposta una lettura dei modelli più noti in letteratura inserendoli a seconda delle loro caratteristiche o tra i modelli...

Il saggio si propone di esaminare la realtà dei distretti tecnologici come evoluzione del concetto di distretto industriale e di individuare i fattori fondamentali che ne determinano lo sviluppo. A tal fine viene analizzato il caso emblematico del distretto tecnologico di Cambridge la cui...