In this paper we analyze the determinants of the high unemployment level in Italy and the source of its persistence, with a special focus on the role of labour taxes. We use as reference an insider-outsider model capable of generating hysteresis; within this framework we are able to evaluate the...

One of the most problematic aspects in the work of policy makers and practitioners is having efficient forecasting tools combining two seemingly incompatible features: ease of use and completeness of the information set underlying the forecasts. Econometric literature provides different answers...

This paper investigates the causes of unemployment persistence in Italy, using aggregate quarterly data. We use as reference an insider-outsider model capable of generating hysteresis. In the sample period being analysed, deep structural modifications have affected the Italian economy. For this...

This paper explores the potential effects of the introduction of a basic income on the italian labour market. This policy measure is fully defined by three steps: a growth of the public expenditure (a), a reduction of the unemployment benefits (b1) and a growth of the fiscal pressure (b2). After...

Since the contribution of Linder (1961) product quality is considered as a factor potentially boosting exports, especially for the most industrialized countries. However, being quality difficult to be measured, the macro-econometric studies on its role are not numerous and have not produced...

In this paper we focus on the post Bretton Woods period and analyze whether a PPP relationship is accepted by the data for Italy, United States and Germany. We adopt a multivariate system approach in which, initially, we test for cointegration and then we try to identify a cointegration space in...

In this paper we address the Rogoff's (1996) puzzle on the exchange rate excess volatility and the slow convergence to PPP. We argue that the evidence in favour of the latter stylised fact could be biased by the adoption of unreliable measures of the speed of convergence. In fact, adopting...

In the last decades a liberalization of the electric market has started; prices are now determined on the basis of contracts on regular markets and their behaviour is mainly driven by usual supply and demand forces. A large body of literature has been developed in order to analyze and forecast...

In this paper we address two relevant issues among those characterising the macroeconomic literature on migration. (a) We evaluate which impact is produced by the immigration flows coming from the enlargement countries on the EU-15 labour market. (b) We draw clues on the migrant characteristics...

We analyse the determinants of unemployment persistence in four OECDcountries byestimating a structural Bayesian VAR with an informative priorbased on an insiders/outsiders model. We explicitly insert unemployment ben-efits and labour taxes so that our identification is not affected by the Faust...