type="main" xml:lang="en" <p>Physical scarcity is hardly sufficient to explain commodity price swings. However, despite of clues of commodity market inefficiency in the last decade, excess volatility in commodity markets emerges only under strong assumptions. When we allow for non-stationarity in...</p>

type="main" xml:lang="en" <p>This paper tries to contribute to the empirical literature on the European consumers’ plastic money payment habits, using the Bank of Italy data over the 1993–2008 period. In line with other evidence on this topic, mainly focused on the US economy, we find that age,...</p>

type="main" xml:lang="en" <p>Using a partial equilibrium model, this paper makes a first attempt to provide an explanation based on rational behaviour for the basic big puzzle of why workers have large holdings of the shares of their employer in their defined contribution (DC) pension plans. The...</p>

type="main" xml:lang="en" <p>Dillard notes that to consider money as an institution of capitalism means to emphasize that money is an essential element in explaining fluctuations in income and employment. He states that Keynes's liquidity preference theory offers a sound explanation of money as an...</p>