We develop a medium-sized annual macroeconometric model of the Italian economy. The theoretical framework is the usual AS/AD model, where the demand side is specified along Keynesian lines, and the supply side adopts a standard neoclassical technology, with Harrod neutral technological progress....

Many dynamic problems in economics are characterized by large state spaces, which make both computing and estimating the model infeasible. We introduce a method for approximating the value function of high-dimensional dynamic models based on sieves and establish results for the: (a) consistency,...

Many working on communitarian bonds among members of small groups, on inter-firm arrangements in competitive markets, on new public management in state bureaucracies and, not least, on negotiations between public and private actors in new modes of governance tend to share two core assumptions...