Working Papers

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391: Expectations and Information in Second Generation Currency Crises Models

Massimo Sbracia and Andrea Zaghini

389: The Monetary Transmission Mechanism: Evidence from the Industries of Five OECD Countries

Luca Dedola and Francesco Lippi

387: The Multimarket Contacts Theory: An Application to Italian Banks

Riccardo De Bonis and Annalisa Ferrando

386: Revisiting the Case for a Populist Central Banker

Francesco Lippi

385: Testing for Stochastic Trends in Series with Structural Breaks

Fabio Busetti

384: Will a Common European Monetary Policy Have Asymmetric Effects?

Luigi Guiso, Anil Kashyap, F. Panetta and Daniele Terlizzese

383: (Fractional) Beta Convergence

Claudio Michelacci and Paolo Zaffaroni

382: Endogenous Growth with Intertemporally Dependent Preferences

G. Ferraguto and Patrizio Pagano

381: The Determinants of Cross-Border Bank Share holdings: an Analysis with Bank-Level Data from OECD Countries

D. Focarelli and Alberto Pozzolo

380: Bank Competition and Regulatory Reform: The Case of the Italian Banking Industry

Paolo Angelini and Nicola Cetorelli

379: Promise and Pitfalls in the Use of 'Secondary' Data -Sets: Income Inequality in OECD Countries

Anthony Atkinson and Andrea Brandolini

378: Stock Values and Fundamentals: Link or Irrationality?

Fabio Fornari and Marcello Pericoli

377: The Italian Business Cycle: Coincident and Leading Indicators and Some Stylized Facts

Filippo Altissimo, D.J. Marchetti and G.P. Oneto

376: Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices

Mariassunta Giannetti

375: Emu Fiscal Rules: is There a Gap?

Fabrizio Balassone and D. Manacelli

374: Strategic Monetary Policy with Non-Atomistic Wage-Setters

Francesco Lippi

372: Investment and Growth in Europe and in the United States in the Nineties

P. Caselli, Patrizio Pagano and Fabiano Schivardi

371: The Seasonal Adjustment of the Harmonised Index of Consumer Prices for the Euro Area: a Comparaison of Derect and Indirect Methods

Riccardo Cristadoro and Roberto Sabbatini

370: Forecasting Industrial Production in the Euro Area

G. Bodo, Roberto Golinelli and Giuseppe Parigi

369: Banking System, International Investors and Central Bank Policy in Everging Markets

Mariassunta Giannetti

368: Information Spillovers and Factor Adjustment

Luigi Guiso and Fabiano Schivardi

367: An Investment-Function-Based Measure of Capacity Utilisation. Potential Output and Utilised Capacity in the Bank of Italy's Quarterly Model

Giuseppe Parigi and Stefano Siviero

366: On the Mechanics of Migration Decisions: Skill Complementarities and Endogenous Price Differentials

Mariassunta Giannetti

365: Labor Markets and Monetary Union: a Strategic Analysis

Alex Cukierman and Francesco Lippi

363: The Transmission of Monetary Policy Shocks in Italy, 1967-1997

Eugenio Gaiotti

362: Markup and the Business Cycle: Evidence from Italian Manufacturing Branches

D.J. Marchetti

361: Why do Banks Merge?

D. Focarelli, F. Panetta and Carmelo Salleo

359: Does Market Transparency Matter? A Case Study

Valerio Vacca and Antonio Scalia

357: Are Model-Based Inflation Forecasts Used in Monetary Policymaking? A Case Study

Stefano Siviero, Daniele Terlizzese and I. Visco

356: What Is the Optimal Institutional Arrangement for a Monetary Union?

Leonardo Gambacorta

355: The Economic Policy of Fiscal Consolidations: The European Experience

Andrea Zaghini

354: How Deep Are the Deep Parameters?

Filippo Altissimo, Stefano Siviero and Daniele Terlizzese

353: Is there an Equity Premium Puzzle in Italy? A Look at Asset Returns, Consumption and Financial Structure Data Over the Last Century

F. Panetta and Roberto Violi

351: Median Voter Preferences, Central Bank Independence and Conservatis

Francesco Lippi

350: The Distribution of Personal Income in Post-War Italy: Source Description, Date Quality, and the Time Pattern of Income Inequality

Andrea Brandolini

347: Industrial Districts and Local Banks: Do the Twins Ever Meet?

Alberto Baffigi, Marcello Pagnini and Fabio Quintiliani

345: Reallocation and Learning Over the Business Cycle

Fabiano Schivardi

344: Investment and the Exchange Rate

Francesco Nucci and Alberto Pozzolo

343: What Caused the Asian Currency and Financial Crisis?

Giancarlo Corsetti, Paolo Pesenti and Nouriel Roubini

342: Energy Consumption, Survey Data and the Prediction of Industrial Production in Italy

D.J. Marchetti and Giuseppe Parigi

341: "Enemy of None but a Common Friend of All"? An International Perspective on the Lender-of-Last-Resort Function

C. Giannini

340: Heterogeneous "Credit Channels" and Optimal Monetary Policy in a Monetary Union

Leonardo Gambacorta

339: The Probability Density Function of Interest Rates Implied in the Price of Options

Fabio Fornari and Roberto Violi

338: Nonlinear VAR: Some Theory and an Application to the US GNP and Unemployment

Filippo Altissimo and Giovanni Violante

336: Fiscal Consolidations Under Fixed Exchange Rates

P. Caselli

335: Signaling Fiscal Regime Sustainability

F. Drudi and Alessandro Prati

332: Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment: Theory and Evidence

Alex Cukierman and Francesco Lippi

331: Research and Development, Regional Spillovers, and the Location of Economic Activities

Alberto Pozzolo

326: Adverse Selection of Investment Projects and the Business Cycle

Pietro Reichlin and P. Siconolfi

325: Style, Fees and Performance of Italian Equity Funds

Riccardo Cesari and F. Panetta