This paper proposes a recursive procedure that characterizes the order of the pole and the coecients of the Laurent series representation of the inverse of a regular analytic matrix function. The algorithm consists in performing a finite sequence of rank factorizations of matrices of...

In this paper we analyze the yield difference between two on- and off-the-run similar notes to gauge the liquidity premium. We investigate this issue by relating such a differential to several liquidity indicators that we build and examine -to our knowledge for the first time- throughout the...

In this paper we model macroeconomic instability as the outcome of the dynamical interaction between debt accumulation and the “state of confidence” in a small open economy with a super-fixed exchange rate arrangement. Our analysis is set in a theoretical framework where balance-sheets...

In this paper we present an analysis of the OECD production process and consider the ICT as driver of growth. In doing so the production function approach adopted underlines the externalities exploited or not and, possibly, when the production process overpasses the countries capacities implied...

Non stationary panel models allowing for unobservable common trends have recently become very popular. However, standard methods, which are based on factor extraction or models augmented with cross-section averages, require large sample sizes, not always available in practice. In these cases we...

With this study we intend to define a methodology capable to deal with the task of evaluating and planning the interdependent dynamics of growth for some European countries together with their foreign partners. To that aim we employ a nonlinear differential equations system representing a...

Islamic banks are characterised by the compliance to Islamic laws and practices, the main ones being the prohibition of interest and loans trading. Remarkably, during the 2008-2009 financial crisis, when a large number of conventional banks have announced bankruptcy, no single Islamic bank...

Demand for redistribution has been traditionally investigated within a static scenario, giving the perception of a stationary association between individual determinants and preferences. Using repeated cross-sectional survey data from the General Social Survey over the period 1978{2010, we model...

We provide a comprehensive picture of the relationship between labor market outcomes and age by gender in all the 28 European countries covered by the European Statistics on Income and Living Conditions (EU-SILC). The analysis is based on a somewhat unconventional approach that refers to...

Solutions of DSGE models are usually represented by state space forms. This note shows that if one wishes to determine whether the observables of the model admit a finite order VAR representation, minimality of the state space representation of the solution matters. More specifically, we first...