The EMU assigns a very marginal role to economic policy and relies on the leading idea that, if prices are kept constant, there will be an automatic convergence towards long-run equilibrium income. These beliefs represent the theoretical underpinnings of fiscal and monetary policy strategies in...

This paper investigates the determinants of interregional migration in Italy for the period 1985-2006, during which different migration trends took place. In so doing, in addition to the traditional variables of Harris and Todaro model, the impact of housing prices and externalities variables...

The EMU assigns a very marginal role to economic policy and relies on the leading idea that, if prices are kept constant, there will be an automatic convergence towards long-run equilibrium income. These beliefs represent the theoretical underpinnings of fiscal and monetary policy strategies in...

The aim of this paper is to evaluate the robustness of the theory that claims restrictive effects of expansionary fiscal policy. It shows that such so-called “non-Keynesian effects” may arise from synchronous and opposite monetary policy interventions. The paper demonstrates this conclusion...

Assessing regional convergence is an important issue both at the national and at the supranational level, such as the level of European regions. Regional convergence and productivity growth are also principles of the European regional policy. This paper studies regional productivity convergence...

Although European Single Market (ESM) has been widely perceived as a model for regional integration, there continues to be considerable debate about the impact of this integration on the EU regions. Studies in this field have mainly investigated the convergence-divergence issue, while the effect...

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR-GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...