The aim of this paper is to study the effects of credit constraints on the equilibrium aggregate capital stock. Credit constraints are the consequence of asymmetric information and moral hazard on the credit markets. When the equilibrium interest rate is low, entrepreneurs may have the...

This paper uses a dynamic general equilibrium setup with overlapping generations to provide a better understanding of the causes and consequences of credit constraints resulting from asymmetric information and moral hazard. These constraints imply that the entrepreneur's access to credit is...

<em>La finanza delle regioni a statuto speciale e delle province autonome</em> - In the Italian model of local government finance, five Regions are granted special forms and conditions of autonomy, specified in their respective statutes. This paper highlights the tasks performed by the five Autonomous...

A gender gap indicator is constructed for the Italian regions, with the aim of highlighting the geographical differences underlying Italy�s backwardness at European and international level. The indicator, which adapts the Gender Equality Index developed by Plantenga et al. (2009) for 25...

This paper uses ECB survey data to assess whether gender matters in the small firms� financial structure and access to credit. Firms owned or managed by women (female firms) use smaller amounts and less heterogeneous sources of external finance than their male counterparts. According to...