The paper explores the differences between IRAP (the Regional Tax on Productive Activities) and CBIT (the Comprehensive Business Income Tax), which approximately corresponds to allow the deduction of labor cost from the taxable base of IRAP. By developing a DSGE model that ncorporates business...

Following the recent developments of the literature on stabilization policies, this paper investigates the effect of tax distortions on equilibrium determinacy in a New Keynesian economy with rule-of-thumb consumers and capital accumulation. In particular, we focus on the inter-action between...

We use a rich administrative dataset on individual tax returns from 2008 to 2015 to analyse the behavioural and distributive effects of a flat tax (FT) reform introduced in 2011 for residential property income in Italy replacing the progressive personal income tax. Linking a panel of individual...

By estimating a Markov-switching model, we provide new evidence on the nonlinear effects of monetary policy shocks on asset prices and on their bubble component. We show that regime-dependence is mainly driven by the states affecting the interest rate equation. We also show that, following a...

We study the economic effects generated by the proliferation of the Covid-19 epidemic and the implementation of non-pharmaceutical interventions by developing a SEIRD-RBC model, where the outbreak and policy interventions shape the labor input dynamic. We microfoundan Epidemic-Macro model...

We study the economic effects generated by the proliferation of the Covid-19 epidemic and the implementation of non-pharmaceutical interventions by developing a SEIRD-Macro model, where the outbreak and policy interventions shape the labour input dynamic. We microfound an Epidemic-Macro model...