Summary This paper tests whether the large, cheap, stable, and low-cyclical flows of workers' remittances reduce the probability of current account reversals in recipient countries. Using a large panel of emerging and developing economies, we find that this is indeed the case: when remittances...

Department: Economics.

The lag in innovation in Italy vis-�-vis the other main industrial countries is one of the effects of the fragmentation of the production system into many small firms that have trouble bearing the high cost of R&D and taking the related risks. Such other causes as shortages in human capital...

This paper analyzes the effects of international trade on the relative demand for skilled workers in Italian local labor markets. We find that exports cause a sizable skill upgrading in the labor force by increasing the average level of education of the workforce and the share of white-collars...

This paper reviews the main macroeconomic trends and the debate on policy priorities in Italy since the end of the Nineties. In the decade up to the outbreak of the global crisis (1998-2007), in Italy the reform process came to a virtual standstill; this is partly due to the fragmentation of the...

This paper describes recent developments in the Italian industrial system and investigates the main factors affecting its competitiveness. Our analysis provides a picture of widespread weaknesses. Production levels in all industries are lower than those before the crisis; with the exception of...