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...

This paper analyses the determining reasons of the differences among the Italian regions in matter of investment in workers’ training. Training incidence in Italy is not homogeneous among regions, with a lower intensity in the South. Two not alternative explanations are proposed at a...

This paper examines the possibility that regulation actually increases a monopolist’s cost-efficiency. When the firm’s cost-reducing effort depends on the output supplied, a binding price-cap, by compelling the monopolist to produce more, finally results in lower costs. On the...

The EU market’s free circulation principle severs the VAT chain at the EU States’ borders, thus, enticing VAT frauds. The increased “transit traffic†from outside EU with final destination in EU also contribute to VAT fraud. To examine this issue, we model some different...