The financial crisis of 2007-08 has underscored the importance of adverse selection in financial markets. This friction has been mostly neglected by macroeconomic models of financial frictions, however, which have focused almost exclusively on the effects of limited pledgeability. In this paper,...

This article uses survey data of 90,000 union employees working in 62 publicly-traded companies in Japan between 1990 and 2004 to study the effect of both own and self-reported reference wages on workers' subjective well-being levels. The availability of self-reported reference wages generates...

In Italy, employment in waste collection has been widely used to reduce unemployment and create political consensus (especially in the South). Having secure jobs allows people to achieve income stability. But, income is just a means to an end and the goods and services or ‘commodities’ it...

In the literature of happiness economics individual subjective utility is measured by directly asking individuals to self-assess their level of utility, usually on a numerical scale, using various terms such as happiness, life satisfaction and well-being, most of the times taking for granted...

In the recent discussion on productivity and how to foster it, the role of wage dispersion as determinant of workers productivity attracted much attention. But, what are the determinant of wage dispersion? In this paper, we analyze a very specific determinant of wage dispersion: job-to-job labor...

“The road” is anthropologically linked to the history of the human being, and therefore also to the economic history. Specifically, “the road” is important quantitative element as a factor in the opportunity cost in the traffic of goods, commodities and people but also, on a more...

This paper will be published in M. Magara and S. Sacchi (eds.), The Politics of Social and Industrial Reform, Cheltenham, Edward Elgar, forthcoming in 2013.

Despite the fact that the distributional impact of innovation has been recognized in the social science literature, hardly any work has been done on the distributional politics of innovation policy. This study offers a first step in this direction as well as asking whether a government’s...

Negli archivi amministrativi dell’INPS, e in particolare nei dati dell’Osservatorio delle Imprese, il settore di attività economica è identificato in base a diverse classificazioni. I dati più recenti riportano la codifica Ateco 2002, validata dall’ISTAT nell’ambito del progetto ASIA...