We present new evidence on the uncertain nature of nonstationarity – that is, trend stationarity vs. difference stationarity – of aggregate per capita real output, by submitting to a composite testing procedure a 20-country sample over an historically relevant time span. We find that the...

An empirical analysis of the Italian system of banks and firms is carried out using the network theory. The emerging architecture of this economic network shows peculiar behaviors: (i) Multiple lending is very widespread; (ii) Small firms are preferentially financed by small banks; (iii) Large...