In this paper we study the existence of bubbles for pricing equilibria in a pure Exchange Economy a' la Lucas, with infinitely lived homogeneous agents. The model is analyzed under fairly general assumptions: no restrictions either on the stochastic process governing dividends' distribution or...

La geografia giudiziaria Italiana, rimasta sostanzialmente invariata dai tempi dell’Unità d’Italia, ha subito una radicale trasformazione con la riforma contenuta nella Legge n. 148 del 2011 e nei relativi decreti attuativi n. 155 e 156 del 2012. Nel dettaglio, il Decreto Legislativo n. 155...

We develop a theory of endogenous regimes transitions (with a focus on democratic consolidation), which emphasizes the role of political culture and of its interaction with political institutions. Political culture reflects the extent of individual commitment across citizens to defend democracy...

This paper investigates which is the most desirable payment schedule, from a social welfare standpoint, for compensating IPR holders for music broadcast by radio stations. A model of a radio station that acts as a monopoly with respect to listeners and sells ads in a competitive market is...

This paper uses an instrumental variable approach to study whether public debt has a causal effect on economic growth in a sample of OECD countries. The results are consistent with the existing literature that has found a negative correlation between debt and growth. However, the link between...

The advocates of correspondence testing (CT) argue that it provides the most clear and convincing evidence of discrimination. The common view is that the standard CT can identify what is typically defined as discrimination in a legal sense - what we label total discrimination in the current...

This paper places genocide or mass murder in a continuum of actions that a ruling power can take to remove an unwanted group from a society; that is, it views extermination as a means to an end, and it assumes that perpetrators are rational in the sense that they will choose the combination of...

Taking human experimentation into account, this work aims at estimating a policy designed to reduce transaction costs that are related to the protection system of patients' rights, with both a normative and positive approach. On the one hand, considering a sample of European countries as...

In the recent past, expectations concerning universities have emphasised their active role in enhancing economic and regional development. The universities in geographical areas suffering from structural problems are particularly required to play this role. Moreover, the correlation between the...