The paper analyzes the problems of measurement of durable consumer prices posed by quality change. Theoretical price indexes are defined and used to analyze several empirical methods of estimation of quality adjusted price indexes. The paper shows that hedonic regressions and other quality...

The paper provides an analysis of cyclically-adjusted budget balances of local governments in Italy for the period 2002-07. We find that local government balances appear to be relatively sensitive to the business cycle. In particular, a shock of 1 per cent in GDP changes their resources by...

This paper provides a review of the theory of the measurement of poverty. The axiomatic theory is described and axiomatic properties of poverty indexes are related to assumptions on their functional form. The notion of poverty ordering is then introduced and the relations between the poverty...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>Liquidity constraints are an important determinant of investment in imperfect financial markets. Firm's investment is a function of marginal q, although liquidity constraints impose an upper bound on investment. Moreover, expectations over future liquidity...</p>

The paper develops a model of firm´s investment under uncertainty with financial market imperfections and analyzes the effects of financial constraints on firm´s investment. Firm´s investment is an increasing function of the firm´s marginal q, however the investment function is characterized...

The paper develops a model of firm´s investment under uncertainty with financial market imperfections and analyzes the effects of financial constraints on firm´s investment. Firm´s investment is an increasing function of the firm´s marginal q, however the investment function is characterized...

The paper analyzes the problems of measurement of durable consumer prices posed by quality change. Theoretical price indexes are defined and used to analyze several empirical methods of estimation of quality adjusted price indexes. The paper shows that hedonic regressions and other quality...

The paper provides an analysis of the problems of construction of quality-adjusted price indexes within the framework of the theory of product differentiation. In the general case of price-making behaviour on the part of firms, hedonic regressions are defined on the basis of reduced forms of the...

The paper reviews the theory of the measurement of poverty. The axiomatic theory is described and the axiomatic properties of poverty indexes are related to assumptions on the functional form of the poverty index function. The notion of poverty ordering is then introduced and followed by a...