The resurgence of inflation since the late 2021 is now accompanied by a reversal of prospects of growth, reviving fears of stagflation across the world (IMF 2022, World Bank 2022). In almost all accounts of the mounting stagflation threats a prominent role is played by the fall of households'...

In this paper, the authors present a New Keynesian quantitative model with endogenous investment and a stock-market sector to shed further light on two unsettled issues: whether central banks should include some financial indicator in their policy rules, and what indicator may be expected to...

Questo lavoro intende dare un contributo teoricamente fondato al dibattito sulla riforma del contratto della docenza universitaria, noto come "stato giuridico". Il problema viene affrontato in termini di efficienza organizzativa della "produzione" universitaria, ponendo l'accento sui meccanismi...

This paper examines the macroeconomic implications of the Maastricht Treaty's fiscal rules for the European monetary union's member countries, and shows that these rules are technically inconsistent in that they may fail to achieve their declared goal, namely convergence of fiscal aggregates and...

In this paper the climate change effect is an unforeseen earth temperature level above which a negative externality on technology and hence on society's welfare is exerted. We use a dynamic overlapping generations model to develop a positive analysis of the growth path of an economy with the...

This paper examines the new SGP rules that should govern fiscal policies of the EMU member countries by means of dynamic models of the debt/GDP ratio. The focus is on factors of heterogeneity and interdependence in the three key variables that may affect the debt/GDP evolution in a multi-country...

The great financial crisis that erupted in 2007 has shaken not only the world economy but also the so-called mainstream of economics. As a major corollary, the issue of how financial markets are or should be regulated is in the eye of the storm. In this article, we discuss a new approach to...