In this paper the authors study the determinants of the long term yield spread between Italian and German government bonds using daily observations for a period 1 January 1995- 28 October 1997.

In this paper we study regional dynamics of output in Italy on a sample period spanning from 1970 to 1992 by using a dynamic principal components analysis and a coherence analysis. We find the presence of a basic common economic structure but also the presence of sharp heterogeneity both at low...

We test some positive implications of the commitment hypothesis for the design of monetary institutions in open economies, by studying the determinants of Central Bank independence on a sample of 55 countries, for the period 1980-1989. We document fairly consistent empirical evidence in support...

In this paper the determinants of the long term yield spread between Italian and German government bonds are studied using daily observations for a period 1 January 1995-28 October 1997. Total spread is split into two main factors: an exchange rate factor, that is approximated by a differential...

The study is of short-run and long-run co-movements and convergence across 21 OECD real per capita outputs on a sample period spanning 1960 to 1992 using dynamic principal components analysis and coherence analysis. We reject the hypothesis of convergence, but find evidence for long-run growth...

We build on earlier studies regarding Central Bank Independence (CBI) by relating it to political, institutional and economic variables. The data suggest that CBI is positively related to the presence of federalism, the features of the electoral system and parties, the correlation between the...

In a framework à la Martin (1993) we introduce a common component in the managers' private information in order to address three related questions: What is the impact of contracts that reward managers on the basis of realized profits on firms' productive and allocative efficiency relative to...

We study a two periods entry game where the incumbent .rm, who has private information about his own production costs, makes a non observable long run investment choice, along with a pricing decision observed by the entrant. The investment choice affects both post-entry competition and first...

We study a two periods entry game where the incumbent .rm, who has private information about his own production costs, makes a non observable long run investment choice, along with a pricing decision observed by the entrant. The investment choice affects both post-entry competition and first...