Recent debate has suggested that growing levels or high levels of inequality may be systematically associated with the occurrence of banking crises. Using the updated version of the Chartbook of Economic Inequality, this paper provides new empirical evidence on the `level' hypothesis and...

This paper is prepared as a chapter for the Handbook of Income Distribution, Volume 2 (edited by A. B. Atkinson and F. Bourguignon, Elsevier-North Holland, forthcoming). Like the other chapters in the volume (and its predecessor), the aim is to provide a comprehensive review of a particular area...

The purpose of this Chartbook is to present a summary of evidence about long-run changes in economic inequality – primarily income, earnings, and wealth – for 25 countries covering more than one hundred years. There is a range of countries and they account for more than a third of the...

Sustainability for a society means long-term viability, but also the ability to cope with economic crises and disasters. Just as with natural disasters, we can minimize the chance of them occurring and set in place policies to protect the world’s citizens against their consequences. This paper...

A regularization method for bilevel problems with lower level defined by Nash equilibria is considered and a concept of \viscosity solution" associated to such a regularization is introduced. Sufficient conditions for the existence of viscosity solutions are given and applications to optimistic...

This paper analyzes the relation between CEOs monetary incentives, financial regulation and risk in banks. We present a model where banks lend to opaque entrepreneurial projects to be monitored by managers; managers are remunerated according to a pay-for-performance scheme and their effort is...

We study the opinions on prostitution that emerged from the World Value Survey. We show that individuals tends to justify prostitution more in countries where it is legal or regulated and less in countries where it is prohibited, even after controlling for religious, cultural and sociological...

We present an intertemporal portfolio choice model where individuals invest in financial literacy, save, allocate their wealth between a safe and a risky asset, and receive a pension when they retire. Financial literacy affects the excess return and the cost of stock market participation. Since...

A relevant question for the organization of large scale research assessments is whether bibliometric evaluation and informed peer review where reviewers know where the work was published, yield similar results. It would suggest, for instance, that less costly bibliometric evaluation might - at...

In 2000 Italy replaced its traditional system of severance pay for public employees with a new system. Under the old regime, severance pay was proportional to the final salary before retirement; under the new regime it is proportional to lifetime earnings. This reform entails substantial losses...