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1991-1995 IGIER Working Papers

Working papers written before 1996 are not available electronically. A hard copy can be requested from igierunibocconi.it   Please include a postal address where the paper can be sent.


1. Bertola G.
Factor Shares and Savings in Endogenous Growth

2. Benassi C., Ichino A.
Is Information more Valuable when Risk Increases?

3. Missale A., Blanchard O. J.
The Debt Burden and Debt Maturity

4. Manasse P.
Are Taxes Too Low?

5. Balduzzi P.
Money and Asset Prices: The Evidence from an Artificial Economy

6. Ichino A.
Effects of Flexible Compensation Systems on Company Leverage: An Example of Interaction between Labor and Financial Markets

7. Benassi C.
Asymmetric Information and Financial Markets. A Stockholders´ Equilibrium Model

8. Persson T., Tabellini G.
Is Inequality Harmful for Growth? Theory and Evidence

9. Bertola G.
Flexibility, Investment and Growth

10. Bertola G., Drazen A.
Trigger Points and Budget Cuts


11.Giavazzi F., Collins S.
Attitudes Towards Inflation and the Viability of Fixed Exchange Rates: Evidence from the EMS

12.Missale A.
Debt and Maturity: The Evidence

13.Belessakos E.
Volatility Tradeoffs in Exchange Rate Target Zones with Sticky Prices

14.Attanasio O., Weber G.
On the Aggregation of Euler Equations for Consumption in Simple OLG Model

15.De Cecco M., Giavazzi F.
Inflation and Stabilisation in Italy: 1946-51

16.Alesina A., De Broeck M., Prati A. and Tabellini G.
Default Risk on Government Debt in OECD Countries

17.Rovelli R.
Determinants of Interest Rates on Italian Government Bonds and the Valuation of Floating Rate Bonds

18.Manasse P.
The Low Income Trap Revisited: The Simple Macroeconomics of Fluctuations, Inequality and Unemployment

19.Bertocchi G., Wang Y.
The Real Value of Money under Endogenous Beliefs

20.Rustichini A.,Villamil A.P.
Equilibrium Price Stickiness

21.Garella P.
Unexploited Comparative Advantages in a Differentiated Duopoly

22.Brugiavini A., Weber G.
Durable and Nondurable Consumption: Evidence from Italian Household Data

23.Daviddi R., Manasse P.
Big Bang versus Gradualism: Is There a Choice? Lessons from the Polish and Hungarian Experience

Battaggion M.R., Garella P.
Joint Venture for a New Product: A Matter of Trust

25.Bertola G., Felli L.
Matching, Aggregation, and the Distribution of Producer Surplus

26. Cornelli F.,Yosha O.
Regulation by Entry: The Case of a Monopolistic Insurance Market with Adverse Selection

27. Rotemberg J., Woodford M.
Imperfect Competition and the Effects of Energy Price Increases on Economic Activity

28. Rotemberg J., Woodford M.
Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets

29. Attanasio O.P., Weber G.
The UK Consumption Boom of the Late 1980s: Aggregate Implications of Microeconomic Evidence

30. Attanasio O.P., Weber G.
Consumption Growth and Excess Sensitivity to Income:Evidence from US Micro Data

31. Del Boca A., Ichino A.
Determinants of Flexible Compensation Contracts. Preliminary Evidence from a New Sample of Italian Manufacturing Firms

32. Garella P.
Informational Rents in Interbank Competition

33. Persson T., Tabellini G.
Federal Fiscal Constitutions. Part I: Risk Sharing and Moral Hazard


34. Erickson C.L., Ichino A.
Wage differentials in Italy: Market Forces, Institutions, and Inflation

35. Persson T., Tabellini G.
Designing Institutions for Monetary Stability

36. Baxter M.
Financial Market Linkages and the International Transmission of Fiscal Policy

37. Fulghieri P., Rovelli R.
Capital Markets, Financial Intermediaries, and the Supply of Liquidity in a Dynamic Economy

38. Bordignon M.
A Further Look at Consistent Conjectures and Private Provision of Public Goods

39. Bhattacharya S., Detragiache E.
The Role of Multilateral Institutions in the Market for Sovereign Debt

40. Bhattacharya S., Thakor A.V.
Contemporary Banking Theory

41. Baxter M.
Are Consumer Durables Important for Business Cycles?

42. Felli L., Villas-Boas J.M.
"Friendships" in Vertical Relations

43. Bhattacharya S., Chiesa G.
Proprietary Information, Financial Intermediation and Research Incentives

44. Bordignon M.
On Measuring Inefficiency with Public Goods: an Input-Oriented Approach

45. Pietra T.
Real Indeterminacy and Existence of Strong Rational Expectations Equilibria in Economies with Incomplete Markets

46. Canziani P., Francesco G., Manasse P., Tabellini G.
Fiscal Rules for Debt Sustainability: History and Institutions

47. Detragiache E., Garella P.G.
Debt Restructuring with Multiple Creditors: A Public Good Approach

48. Pietra T.
The Set of Sunspot Equilibria in Economies with Incomplete Financial Markets: Variable Asset Prices

49. Garella P.G., Manasse P.
Imperfect Information and Employment Variability: A Note

50. Canova F., Marrinan J.
Predicting Excess Returns in Financial Markets

51. van Wincoop E.
Regional Risksharing

52. van Wincoop E.
Real Interest Rates in a Global Bond Economy

53. Masciandaro D.
Central Bank Independence, Banking Supervision and Inflation

54. Pagano M., Röell A.
Transparency and Liquidity: A Comparison of Auction and Dealer Markets with Informed Trading

55. Ambrus-Lakatos L., Annunziata M.
Political Constraints on Central Bank Independence: of Politics, Delegation and Scapegoats

56. Faini R.
Export Supply, Capacity, and Relative Prices

57. van Wincoop E.
A Multi-Country Real Business Cycle Model with Heterogeneous Agents

58. D’Aspremont C., Bhattacharya S., Gerard-Varet L.A.
Knowledge as a Public Good: Efficient Sharing and Incentives for Development Effort.


59. Favero C.A.
The Role of Theory in Econometrics: An Illustration

60. Ghosh A.R., Pesenti P.A.
International Portfolio Diversification, Non-Tradable Human Wealth and Consumption Growth: Some Puzzles and Interpretations

61. Persson T., Tabellini G.
Federal Fiscal Constitutions. Part II: Risk Sharing and Redistribution

62. Ganoulis I.
An Investment Model with Imperfect Output Markets Applied to Greek Manufacturing

63. Annunziata M., Tambakis D.N.
Political Constraints on Monetary Policy: What Determines Central Bank Independence?

64. Manasse P.
Are PhD´s Less Likely to End Up on the Dole?

65. Bertocchi G., Spagat M.
Structural Uncertainty and Subsidy Removal for Economies in Transition

66. De Grauwe P.
Fiscal Federalism and Debt Management The Case for Belgium

67. Ganoulis I.
Dynamics in Investment and Growth Theories and the Nature of the Firm

68. Cole H.
A Contribution to the Theory of Pork Barrel Spending

69. van Wincoop E.
Open Economy Real Business Cycle Models: A Multi-Country Approach

70. Helg R., Manasse P., Monacelli T., Rovelli R.
How Much (A)symmetry in Europe? Evidence from Industrial Sectors

71. van Wincoop E., Marrinan J.
Public and Private Saving and Investment


72. Pesenti P., van Wincoop E.
International Portfolio Diversification and Non-Traded Goods

73. Masciandaro D.
Money Laundering, Banks and Regulation: An Economic Analysis

74. Ariga K., Brunello G.
Investment in Human Capital and Promotions in a Corporate Hierarchy

75. Grossman G., Helpman E.
Electoral Competition and Special Interest Politics

76. Persson T., Tabellini G.
Double-Edged Incentives: Institutions and Policy Coordination

77. van Wincoop E.
A Note on Short Term Intersectoral Factor Immobility

78. Farmer R.E., Guo J.T.
The Econometrics of Indeterminacy: An Applied Study

79. García R., Lusardi A., and Ng S.
Excess Sensitivity and Asymmetries in Consumption: An Empirical Investigation

80. Wiener Z., Benninga S. and Protopapadakis A.
Limiting Differences Between Forward and Futures Prices in a Lucas Consumption Model

81. McNelis P., Asilis C.
Macroeconomic Policy Games and Asset-Price Volatility in the EMS: France, Germany, Italy and Spain

82. Bordignon M.
Federalismo, Perequazione e Competizione Fiscale

83. Fernandez R., Rogerson R.
Public Education and Income Distribution: A Quantitative Evaluation of Education Finance Reform

84. Rovelli R., Hochreiter E. and Winckler G.
Central Banks and the Use of Seignorage: A study of Three Economies in Transition

85. Burkart M., Gromb D. and Panunzi F.
Why Higher Takeover Premia Protect Minority Shareholders

86. Ferrando A., Ganoulis I.
The Cost of Durable Assets in the Structure-Performance Models

87. Cerasi V., Daltung S.
The Optimal Size of a Bank: Costs and Benefits of Diversification

88. Daveri F., Panunzi F.
Decentralisation, mobility costs and the soft budget constraint

89. Bertoldi M., Daviddi L.
Economic Growth and External Debt in Economies in Transition

90. Konishi H., Perera Tallo F.
Existence of Steady-State Equilibrium in an Overlapping-Generations Model with Production

91. Yafeh Y., Yosha O.
The Strategic Use of Relationship Banking

Last updated November 26, 2011