1,721,069 research outputs found
Investments and financial structure with imperfect financial markets: an intertemporal discrete-time framework
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Canale creditizio, struttura di mercato, modifiche istituzionali e meccanismo di trasmissione della politica monetaria
Full text linkStrumenti finanziari negoziabili e incentivo-compatibili per le imprese cooperative. Alcune considerazioni teoriche e di policy
No full textIncentive-Compatible Financial Instruments for CoOperative Firms: a Few Policy Considerations
Full text linkAn Empirical Investigation on the European Housing Market Prices
No full textAlthough the housing market prices and trends have been the object of a great deal of
studies in the last decade, since the 2007-2008 financial crisis, a unifying and commonly accepted
interpretation for them is still missing. In this paper we introduce an empirical and heuristic
approach to analyze the price of the European housing market relative to the stock market,
consistent with a general equilibrium approach, on the basis of a set of theoretically relevant
variables. We perform panel data estimates (with GMM-DIF) of the relative price of the real
estates for the 15 countries that were members of the EU on the 1st of January 1995, using annual
data from 1993 to 2015. We follow, in this regard, the “general-to-specific” approach and GMMdiff estimating methodology. Our results show that the relative price of the real estates is not only
affected by the fundamentals, but also displays a strong influence of autoregressive and “selfsustaining” mechanism in the relative prices
Achievements of the European Working Group on Genetics of Hearing Impairment
No full textThree years ago an European Working Group for the study of genetics of hearing impairment was founded with the aim to standardise terminology and protocols in order to collect families with genetic hearing impairments for a European-based epidemiological, clinical and genetic analysis. Hereditary hearing impairments include a large variety of genetic causes. The occurrence of the different forms is rare, but the overall genetic aetiology is thought to account for up to 50% of newborns' hearing impairment as well as several late onset, progressive cases. In the later years, several locations associated with non-syndromal hearing impairments and different mutations for the syndromic diseases have been identified. Five subgroups have been formed: Definitions and protocols, Epidemiology, Vestibular involvement, Otological and cranial malformations, Molecular biology. Meetings were organised for discussion and establishment of common ground work. Application of the agreed documents was performed to verify protocols. Final agreements were circulated by Infoletter (1-5). Informatic working tools on the Internet have been designed. Standardised definitions, audiological and vestibular protocols have been defined. Pilot studies using experimental protocols to identify informative carriers or to help clinical differentiation between non-syndromic forms have also been performed. Two web sites related to the work have been created. A description of phenotypes of locations identified has been defined. Joining forces to standardise definitions and protocols and collaboration between clinicians and geneticists has contributed considerably to progress in this field
Business cycle in an oligopolistic economy with entry and exit
No full textIn this paper we introduce a microfounded macromodel with endogenous market structure, where macroeconomic fluctuations may be determined by firms’ strategic interactions, entry and exit. All the agents have the same preferences but may differ in their budget constraints and change their social status according to idiosyncratic stochastic shocks that trigger entry, while exit is caused by firms’ bankruptcies. Our numerical simulations show that birth and death of firms (associated with entry and exit) can generate macroeconomic fluctuations without technology shocks
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