In this paper a dynamic stochastic model is used to simulate the matching process between skills demand and supply in a segmented labor market of a typical developong area where labor market frictions are pervasive. We address the issue of the emergence of a "bad" outcome i.e. equilibrium...

The paper analyses the changed development path of the metropolitan area of Rome. It aims to analyse the evolution and modernization of Rome in the last thirty years and to examine whether or not the consequent cultural regeneration promotes social cohesion. To this end we focus on both...

The United States and European Union differ significantly in terms of their innovative capacity: the former have been able to gain and maintain world leadership in innovation and technology while the latter continues to lag. Notwithstanding the magnitude of this innovation gap and the political...

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...