In this paper we investigate wholesale electricity prices integration process in the main European markets. After reforms introduced in the last decades in Europe, wholesale electricity prices are now determined in regulated markets. However, while market institutional frameworks show several...

This paper analyses the effects of fiscal shocks in selected Latin American countries using a two-country model for output, labour input, government spending and relative prices. Dynamic simulation techniques are then applied, in particular to shed light on the possible effects of fiscal...

We compute the expected value and the variance of the discretization error of delta hedging and of other strategies in the presence of proportional transaction costs. The method, based on Laplace transform, applies to a fairly general class of models, including Black-Scholes, Merton's...

La globalizazzione trasforma il mondo postmoderno ed attenua i confini, non solo per l'internazionalizzazione commerciale, per le nuove tecnologie nel campo delle telecomunicazioni e per la liberalizzazione del cambio e dei mercati finanziari, ma, al contempo, per...

It is common opinion that Mediterranean history will always be incomplete, even though many reflexions and discussions have been made concerning what is called this “liquid womb”. In the past few years the traditional-rational interpretations that we may consider obvious has been replaced in...

We investigate the relationship between the main indicators of the labour market in Russia. We try to construct a model of the Russian labour market and identify key relationships. Our special attention is drawn to the impact of the crisis on the Russian labour market and influence of oil price...