By using the recent Gertler and Kiyotaki's (2010) setup, this paper explores the interaction between real distortions stemming from the labor market institutions and financial shocks. We find that neither labor market imperfections nor fiscal institutions determining tax wedges have an impact on...

Negli ultimi decenni Roma, come molte altre città nel panorama internazionale, ha affrontato i problemi della riconversione economica e della riarticolazione istituzionale allo scopo di trovare un posizionamento di rilievo nella gerarchia urbana globale. Il modello di sviluppo perseguito ha...

We challenge the widely held belief that New Keynesian models cannot predict an optimal positive inflation rate. In fact we find that even for the US economy, characterized by relatively small government size, optimal trend inflation is justified by the Phelps argument that the inflation tax...

In this paper we investigate the roots, nature and consequences of the exit strategies that have already been implemented or are likely to be implemented in the EMU countries after the financial and economic crisis. We show that there is a deflationary bias in the current institutional...

Il turismo sembra vivere un rapporto nuovo con le città, in particolari di grandi dimensioni. Ormai quotidianamente si legge del lancio di iniziative turistiche in forma di piccoli e grandi eventi; della realizzazione di icone artistiche e architettoniche, di nuove funzioni che, più o meno...

It is widespread opinion that the concept of poverty, as well as measures of the extent of poverty at national or local level, cannot be entirely linked to income and assets but because of its multidimensionality necessarily involves a variety of individual/household characteristics (age,...

Economic and demographic factors are key determinants of health status in old age. Although,in recent years, there has been an increasing interest in the evaluation of the relationships between these factors and individual health status in Italy, limited attention has been devoted to the link...

This article derives optimal fiscal rules within a stochastic model of Keynesian type in the context of Poole (1970) analysis. By using optimal control theory and applying the Hamilton-Jacoby Bellman equation, we extend the original Poole results concerning the output stabilization properties of...

A growing body of research is exploring the role of community-based initiatives (CBIs) in the promotion of sustainable regional transitions. While existing research and policies acknowledge the relevant contribution of community activism in providing a soft, self-governed and bottom-up path...