This paper proposes a theoretical two-sectors growth model for an economy in transition. The model stresses that long term output and employment dynamics as well as the actual transition pace are affected by demand-side factors and their interaction with supply-side factors. It derives a set of...

This paper demonstrates, in a dynamic model of monopoly regulation with price-cap, that a periodic price review may increase productive efficiency. When the firm's choice of cost-reducing effort depends on the volume of output supplied, a periodic revision allows the regulator to set more...

IRPEF - the Italian personal income tax - is the leading tax in terms of share of total government revenue in Italy. After a decade of reforms, the tax-benefit structure still exhibits several critical issues that need to be addressed. The paper presents a tax-benefit design proposal for Italy...

Besides the instability of the Italian institutional framework, another cause of the delay in investments in water and wastewater systems originates from the shortcomings in the current price regulation scheme. The paper reviews the evolution of the Italian price methodology for the water sector...