There is much confusion in the economics literature on wage determination and the employment–inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the...

This paper analyzes the impact of news on several Italian financial variables, paying particular attention to the effect on the conditional volatility of these variables. The analysis spans a period of great financial and political turbulence in Italy, including the rapid succession of three...

L'articolo descrive un modello GARCH multivariato, basato sulle news, dei tassi di cambio DM-$ e Yen-$, stimato simultaneamente con due variabili strettamente connesse con la loro dinamica: i tassi di interesse a lunga e l'indice azionario Dow Jones. Lo studio propone una frequenza di...