Recent contributions have suggested that technology shocks have a negative impact on hours, contrary to the prediction of standard flexible-price models of the business cycle. Some authors have interpreted this finding as evidence in favor of sticky-price models, while others have either...

This paper analyses the business cycle properties of 183 time series relevant to the Italian economy. We propose new monthly coincident and leading composite indicators for the Italian business cycle. On the methodological side, the study follows a schema for constructing cyclical indicators on...

This paper proposes a multisectoral model to investigate bottlenecks in Italian industry and their macroeconomic impact. We use highly disaggregated measures of capacity utilization rate, data on inter-sectoral transactions and linear programming techniques. According to our results, binding...

Department: Economics.