1,721,042 research outputs found
Aproximacion al desarollo economico reciente de Cerdena
No full textThis article analyses the economic structure of Sardinia which up to the end of the fifties was dominated by a subsistence economy. This equilibrium broke up as a consequence of the expansion of the national market during the sixties. The article studies the industrial development based on chemicals, mining and metallurgy in detail. Both sectors have experienced an internal expansion before the crisis which went parallel to the recession of the seventies.
The present situation is defined as a dualist economy. The author argues that it is impossible to go back to traditional activities while defending, on the contrary, the promotion of the regional economy whithin the existing national and international conditions
THE THEORY OF THE REVENUE MAXIMIZING FIRM
No full textAn endogenous growth model of the revenue maximizing firm is here presented. It is demonstrated that, in a static
analysis, a revenue maximizing firm in equilibrium equates the average product of labor to the wage rate. In a dynamic
analysis, the maximization rule becomes the balance between the rate of marginal substitution - between labor and
capital - and the ratio of the wage rate over the discount rate. When the firm satisfies this rule, it grows endogenously
at the rate of return on capital. The firm may also have multiple stationary equilibria, which are very similar to the
static equilibrium
Per una nuova politica diegli incentivi fiscali allo sviluppo del Mezzogiorno: credito d'imposta o riduzione dell'IRES?
No full textInterpreting TARGET balances in the European Monetary Union: a critical review of the literature
Full text linkThis is a review article focusing on the most important studies on the role displayed by TARGET balances in the European Monetary Union (EMU). In the context of the public debt financial crisis, large TARGET balances became crucial, reflecting funding stress in the banking systems of most crisis-hit countries. The increase in TARGET balances in this period was triggered by a replacement in these countries of private sector funding of banks by central bank funding. By contrast, the more recent increases in TARGET balances are largely attributable to the implementation of the expanded asset purchase program (EAPP) by the European Central Bank (ECB), also known as a quantitative easing (Qe) monetary policy. Nevertheless, we argue that the persistency of extremely large TARGET imbalances continues to be understood by financial markets as a signal of macroeconomic distress, which should be addressed to solve the underlying tensions among EMU member States
- …
