This paper assess the freedom of capital movements between France and Italy in the late 19 century looking at the market for the most important Italian bond, the Rendita Italiana. Taking into account long time series of Rendita prices both in France and in Italy the paper looks at the...

Italian Abstract: Il lavoro illustra lo stato di avanzamento del processo di riforma dei benchmark di tasso di interesse. Nelle principali aree valutarie sono stati introdotti tassi giornalieri che possono essere considerati privi di rischio, come lo €STR nell’area dell’euro. La produzione...

Italian abstract: L'obiettivo è spiegare in maniera succinta l'asset pricing nell'ipotesi di mercati completi. Dopo aver dato notazioni e definizioni, viene esposto il Terema fondamentale dell'Asset Pricing, il Risk-Neutral Pricing e le condizioni di non-arbitraggio. Date queste nozioni, il...

Italian Abstract: La letteratura economica e quella dei principali organismi internazionali sui tassi di rendimento dei debiti sovrani dell'area euro non sembra aver preso in considerazione il tema in un ottica di intermediazione finanziaria, sul terreno suo proprio. In questo articolo si tenta...

The paper presents an analysis of (Italian region) Sicilia’s financial flows using data from Regional Public Accounts. The paper is divided into two main parts. The first part of the work considers financial flows as a whole. The second part considers more in detail expenditure and revenue...

This paper criticizes the idea to conceive the fiscal federalist reform in Italy as a tool to empower central-northern regions to retain resources otherwise wasted in the South. We argue that such a view muddles up efficiency and redistribution issues, thus threatening the legitimate...

This contribution concerns the European monetary union and single currency, the eur. It addresses the issue of the Stability and Growth Pact and its recent reform by the European Council in March 2005. The debate on the reform of the Pact has focused on the contrast between rules and discretion,...

In Italy the rate of growth of GDP has declined over the period 2000-2006, after joining the single currency. The decrease is not incidental, but it has a structural and long-term nature, so this decrease relates to the potential growth. This weakening of growth takes place in an international...

On 1 January 1999, the Economic and Monetary Union (EMU) has entered its final stage and the euro was introduced as the single currency of eleven European Union countries. The feature certainly peculiar economic and monetary union (EMU) is that in the face of a single monetary policy set at the...

In Italy the rate of growth of GDP has declined over the period 2000-2007, after joining the single currency. The decrease is not incidental, but it has a structural and long-term nature, so this decrease relates to the potential growth. This weakening of growth takes place in an international...