The paper evaluates the effectiveness of a major Italian place-based policy (Contratti di Programma), by means of which the state approves and finances industrial projects proposed by private firms. Using the areas to be exposed to the same policy at a later date as counterfactuals, the study...

This paper measures the impact of wage zones � minimum wage differentials at the province level � on Italy's local labor markets during the 1950s. Using a spatial regression discontinuity design, it finds that for the industrial sectors covered under wage zones there was an increase in...

We study the problem of extracting the state price densities from the market prices of listed options. Adapting a model of Madan and Milne to a multiple expiration setting, we present an estimation method for the risk-neutral probability at a moving horizon of fixed length. With the exception of...