The literature on Markov switching models is increasing and producing interesting results both at theoretical and applied levels. Most often the number of regimes, i.e., of data generating processes, is considered known; this strong hypothesis is adopted to somewhat bypass the nuisance parameter...

In this paper we examine under what circumstances the information accumulated during market closing time and conveyed to the price formation at market opening may be exploited to predict where the stock price will be at the end of the trading day. In our sample of three financial time series, we...

Presentiamo "Classe operaia e padronato nelle recenti vicende economiche", un opuscolo derivante da una lezione tenuta da Augusto Graziani nell’ambito di un corso per la formazione dei quadri dirigenti della Federazione Lavoratori Metalmeccanici (FLM) di Brescia svoltosi fra marzo ed aprile...

Presentiamo "Classe operaia e padronato nelle recenti vicende economiche", un opuscolo derivante da una lezione tenuta da Augusto Graziani nell’ambito di un corso per la formazione dei quadri dirigenti della Federazione Lavoratori Metalmeccanici (FLM) di Brescia svoltosi fra marzo ed aprile...

In this paper, the consequences on financial stability of the institutional design envisaged in the Maastricht Treaty – which implicitly assigns the objective of financial stability to the National Central Banks (NCBs) – are assessed. The Maastricht Treaty spells out precisely the role of...

This is an article on the economic policy in Italy today, written in a left-wing liberal perspective. It deals with the present logic of reproduction of capital, aimed at maximizing the extraction and private appropriation of surplus-value.

This contribution is an analysis and a comment of the Final Remarks of the Governor of the Bank of Italy and his directions of economic policy for the Italian economy. An economy that has a high unemployment and also supports a public debt that, despite the recent efforts of fiscal...

After the Second World War, as the Assemblea Costituente was drafting the new republican Constitution, an intense debate took place among its members as to what model to adopt for the Italian economy. A special Commission, the "Credit Commission", was set up to revise the 1936 banking law,...

Italian Abstract: Lo scritto analizza il recente intervento di risoluzione su un gruppo di quattro banche italiane. Si mette in evidenza il ruolo positivo degli scenari probabilistici nelle informazioni al mercato, soprattutto nella prospettiva del 'bail-in'