Market-based lobbying: Evidence from advertising spending in Italy

Stefano DellaVigna, Ruben Durante, Brian Knight, Eliana La Ferrara 09 March 2014

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The policy debate abounds with discussions on conflict of interests faced by politicians. The scope of the problem is global, in that conflicts of interest are found in industrialised as well as developing countries. And it is complex; there are multiple ways in which conflict of interest can manifest itself.

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Topics:  Politics and economics

Tags:  Italy, Berlusconi, lobbying

Remittances and vulnerability in developing countries: Results from a new dataset on remittances from Italy

Giulia Bettin, Andrea F Presbitero, Nikola Spatafora 10 February 2014

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Remittances from migrant workers currently represent one of the most important financial flows to developing countries. They can play an important role in pulling millions of families out of poverty. It is therefore critical to identify the key factors affecting remittances, as well as the barriers to these flows (Beck and Martinez Peria 2009 ). In particular, it is important to understand how remittances depend on macroeconomic conditions in the migrants’ host country and country of origin, and how they were affected by the global financial crisis.

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Topics:  Development Migration

Tags:  Italy, migration, global financial crisis, financial development, Remittances

Productivity in Italy: The great unlearning

Fadi Hassan, Gianmarco I.P. Ottaviano 30 November 2013

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Italy is often regarded as the sleeping beauty of Europe -- a country rich in talent and history, but suffering from a long-lasting stagnation. Italian per-capita income as percentage of the EU15 average has steadily declined since 1994, reaching 84% of EU15 average in 2012. However, this pattern is a novelty compared to previous decades. Italy was the best growth performer among major European partners in the 70s and 80s, but in the 90s and the 2000s it turned to be the worst performer. Why did that happen?

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Topics:  Europe's nations and regions Productivity and Innovation

Tags:  Italy, productivity, Management, ICT investment

Unity in diversity: Protecting the common market with divergent macroprudential policies

Aerdt Houben, Jan Kakes 30 July 2013

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The credit crisis and ensuing sovereign crisis powerfully illustrate the limitations of traditional macroeconomic policies to contain financial imbalances. Despite debate on the desirability to dampen credit cycles and asset-price fluctuations, countries have long been reluctant to include this in policy objectives.

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Topics:  Global crisis International finance

Tags:  Italy, Spain, Ireland, Greece, Eurozone crisis, Portugal, macroprudential tools, GIIPS

Going beyond the mystery of Italy’s price-competitiveness indicators

Claire Giordano, Francesco Zollino 18 July 2013

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Assessing Italy’s price competitiveness is becoming a puzzling challenge. Among others, Paul Krugman (2012) has questioned the reliability of the Italian cost-based indicators pinpointing their links with the “[country’s] mysterious productivity collapse”. Bayoumi et al. (2011) also claimed that “[w]hile Italy’s competitiveness does appear to have eroded [since 1995], the size of this effect is, frankly, anyone’s guess”.

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Topics:  Exchange rates International trade

Tags:  Italy, competitiveness, economic indicators

The roots of the Italian stagnation

Paolo Manasse 19 June 2013

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Italy is currently facing its worst recession in recent history, having lost about 8.5% of GDP between 2007 and 2013. The current situation is, to a large extent, the result of the Eurozone crisis and of the tough fiscal-austerity measures introduced across Europe, and particularly in Italy. Since 2007, the Italian primary balance improved by 3.3 points of potential GDP according to the OECD, almost exclusively through tax increases.

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Topics:  Europe's nations and regions

Tags:  Italy, competitiveness, Eurozone crisis

From sovereign turmoil to private-sector woes: Italian sovereign spreads and their pass-through to bank lending conditions

Edda Zoli 15 June 2013

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Volatility in the Italian sovereign-debt market intensified in the summer of 2011, with ten-year government bond spreads climbing from below 200 basis points in June to over 500 at end-2011 and falling again in July 2012. In January of this year, they fell further to below 300 basis points. The sovereign turmoil ignited a vicious cycle of rising funding costs for banks, increasing borrowing costs for firms and households, and contracting credit and output.

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Topics:  Europe's nations and regions

Tags:  Italy, sovereign debt, banking, lending

Are Germans poorer than other Europeans? The principal Eurozone differences in wealth and income

Giovanni D'Alessio, Romina Gambacorta, Giuseppe Ilardi 24 May 2013

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The Household Survey (European Central Bank 2013) is a joint project of the ECB and all the Eurozone central banks providing harmonised information on the balance sheets of 62,000 households in 15 Eurozone countries (all except Ireland and Estonia).1

Media hype had been generated by the ranking of the countries’ median household wealth results, especially by the fact that:

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Topics:  Europe's nations and regions

Tags:  Italy, Germany, Spain, household income, Greece, Eurozone crisis, household wealth

Girls’ education and medieval commerce

Graziella Bertocchi, Monica Bozzano 29 March 2013

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The reversal of the education gender gap, to the advantage of women, has been part of a quiet revolution that has gradually transformed women’s lives in the vast majority of OECD countries, as documented by Goldin (2006). Even over a broader sample of countries, the 2012 Gender Gap Report compiled by the World Economic Forum shows that 93% of the gap in educational attainment has now been closed. However, the education gender gap is still significant and hard to eradicate in many countries of the world, with the lowest-ranking ones closing only 50% of it.

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Topics:  Economic history Education Gender

Tags:  Italy, medieval

Realism, austerity or demagogy? Evidence from Italy

Maurizio Bovi 20 March 2013

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Before it was contested, there were two interesting – but different – views about the recent political election in Italy. The Economist (2012) had defined the elections as a test of the maturity and realism of Italian voters. The advice was that Italians should vote for Monti. On the other hand, the Paul Krugman in The New York Times (2013) had suggested that the Italian elections could be seen as a test for the impact of failed austerity policies: should Italians not vote for Monti, then failure would be guaranteed.

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Topics:  Europe's nations and regions Politics and economics

Tags:  Italy, Eurozone crisis

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