Questo lavoro è la versione preliminare del capitolo dedicato alla “New Economic Geography” (NEG) ed alle sue implicazioni per lo sviluppo locale del testo “Manuale di sviluppo locale” (a cura di G. Seravalli), attualmente in corso di stesura. Il lavoro studia innanzitutto il problema...

This paper purports to apply the Kydland-Prescott framework of dynamic inconsistency to the case of fiscal policy, by considering the trade-off between output and debt stabilization. The Government budget constraint provides the link between debt dynamics and the level of activity, influenced by...

This work shows that the risk premium can be a mistaken measure of the reduction in utility caused by uncertainty since, when different level of wealth are considered, the relative size of the former is related to that of the latter only in some cases. The analysis indicates that this is because...

This work makes a joint analysis of prevention and saving decisions. First we determine the optimal levels of the two variables and we analyze substitution between them. Second we provide some comparative statics results in order to determine the effects on optimal saving and prevention of...

Intorno alla meta degli anni novanta alcuni cambiamenti che si stavano sviluppando da tempo nell’industria manifatturiera secondo dinamiche autonome e percorsi distinti, improvvisamente subiscono una accelerazione e tendono a convergere verso un nuovo modello di produzione. Le caratteristiche...

Control over digital transactions has steadily risen in recent years, to an extent that puts into question the Internet’s traditional openness. In order to investigate the origins and effects of such change the paper formally model the historical evolution of digital control. In the model, the...

This paper investigates credit supply endogeneity in the Italian environment from 1999 to 2009. The study aims to shed more light on the relationship between securitization and the Italian monetary transmission mechanism during the two most recent financial crashes: the dot-com bubble burst...

I examine the endogenous money supply hypothesis in the Euro Area using data from 1999 to 2010. I make extensive use of Vector Autoregression (VAR) models with Granger causality procedure to analyze non-cointegrated series and Vector Error Correction (VEC) models for cointegrated series. The...