This paper develops a model to investigate the mechanisms of acceptability of private money. During the 1990s, in Russia, the official money lose ground to privately created means of payment whose share in inter-firm transactions increased rapidly in the period between 1995-1998. Considering...

The objective of this work is to offer a political delegation approach for the analysis of the financial sector supervision. Focusing on the key issue in the debate on financial supervision structure - single authority versus multi-authorities model - the paper claims that the optimal degree of...

The paper deals with the historical reconstruction of the relation between the Austrian economist Emil Sax and some Italian economists. It is focused on three questions of priority. The first concerns priority in the introduction of marginal analysis in public finance, seeing the works of Maffeo...

Empirical researchers are used to fix a common distribution of income before tax for all tax schedules being compared. Is this realistic for accurate intertemporal, or international, comparisons when, as a matter of fact, schedules operate on different original income distributions? It is...

This paper offers some possible definitions, purposes and motivations for a system of income support defined by the presence of a Basic Income. In particular, it discusses the motivations assigning to this income transfer programme an important rouml;le for Welfare State reform. After a survey...

This paper investigates on price competition in the Hotelling location model with linear transportation costs when consumer preferences are affected by the number of consumers shopping at the same store. A consumption externality permits to consider the imitation and the congestion effects which...

This paper analyzes the price-setting behavior of multiproduct firms in a differentiated product market. The structure considered is one where large companies offer either a set of close substitutes (market segmentation) or a set of distant substitutes (market interlacing). The modelling...

The aim of this paper is to present a principal-and-two-agents model, by which to assess the role of the political cycle in determining the design of the institutions of monetary and of regulatory policy. In particular the specific issue is: should the responsibility of the two policies be...