Economic policy

El vacío en el corazón de Occidente. De la austeridad a la desesperación. El 13 de septiembre de 2014, proféticamente, el Papa Francisco, en el centenario de la Primera Guerra Mundial, recordó que " incluso hoy, después del segundo fracaso de otra guerra mundial, quizás podamos hablar de una tercera guerra librada 'fragmentada', con crímenes, masacres y destrucción " [1]. Con esta breve declaración proclamó el signo de nuestros tiempos trágicos.

Did Cyprus become more integrated with Europe after adopting the euro? How did this process affect its prices relative to its European partners? Does the degree of integration relative to European Union (EU) economies as implied by Cypriot price differences vary across goods? What can explain this variation in Cypriot price differences? We provide some answers to these questions using a panel of thousands of good-level prices before and after the adoption of the euro. Comparing the densities of law-of-one-price (LOP) deviations for Cyprus relative to other Eurozone (EZ) and non-EZ EU economies before and after it adopted the euro, informs us about the changing degree of integration of Cyprus with other EU economies during this important period. We infer that Cyprus (a) became significantly more integrated with EU economies between 2005 and 2010, and (b) the Cypriot distribution of LOP deviations relative to these economies shifted to the left indicating that Cyprus became relatively...

We use a panel of thousands of good-level prices before and after the euro in order to compare the determinants and understand the evolution of goods price dispersion across Europe during these two periods. We find that tradeability plays a substantially smaller role in lowering crosscountry dispersion after the adoption of the euro as compared to before, and that the role of non-traded inputs in raising price dispersion is also reduced after the euro. We then compare the overall and country-level distributions of law-of-one-price (LOP) deviations at the early and late part of our sample to inform us about the degree of integration across European economies before and after the euro. Our tests reveal that the distributions after the euro are significantly different than those before, consistent with a greater degree of integration. Utilizing our panel to trace the location of individual goods in the distribution of LOP deviations, we ask how the price advantage or disadvantage of individual economies evident in these price distributions has been shifting over time, and whether goods characteristics play a role for the persistence of these LOP deviations. LOP deviations for these goods are highly correlated, on average, over five or ten year horizons, but much less so over twenty-year or longer horizons. These correlations are greater for homogeneous as compared to differentiated goods, and vary across countries. Finally, for the great majority of these European economies and goods, price advantage is typically revealed to be more persistent than price disadvantage.

Central Bank Digital Currencies (CBDCs) are emerging as pivotal innovations in modern monetary systems. This paper investigates the economic and social ramifications of CBDCs within global transaction frameworks. It evaluates their potential to enhance efficiency, financial inclusion, monetary policy, and geopolitical monetary dynamics. It also critically examines the risks of financial disintermediation, surveillance, and uneven accessibility across nations. Drawing on scholarly literature up to 2022, this study offers a comprehensive outlook on how CBDCs may reshape the global economy.

Bu çalışma modern iktisat düşüncesinin Joseph A. Schumpeter'in deyimiyle "kayıp bilgisi"nin Akdeniz Dünyası'ndaki izlerini sürer. Bu çabamızda yola çıkış noktamız 18. yüzyıl hububat ticareti tartışmalarının önemli eserlerinden biri olan Napolili iktisatçı Ferdinando Galiani'nin Dialogues sur le Commerce des Bleds adlı yapıtı. Bu eserin özellikle Akdeniz erken modern dünyasındaki kökleri nedeniyle hem içeriği hem de stili açısından yeterince anlaşılmadığını ve Avrupa iktisadi düşüncesi ile ilgi ve ilişkisinin yeterince takdir edilmediğini düşünüyoruz. Çalışmamızda Galiani'nin eserini Akdeniz bağlamında anlama çabasıyla önce özellikle İspanya, Kuzey Afrika ve Osmanlı kaynakları üzerinden hububat iaşesi politikalarını ve bu politikalara dair düşünceleri ele alıyoruz. Bir yandan Akdeniz jeopolitik bağlamında hububat politikasının kısıtlarına, bir yandan bunun bir uzantısı olarak metinlerde gözlediğimiz paralelliklere dikkat çekiyoruz. Daha sonra Galiani'nin ancak daha geç bir zamanda, Avrupa iktisadi düşüncesinin tarihsel ve kurumsal bir hattının ortaya çıkması ile ilgi gördüğüne dikkat çekiyoruz. Aradaki kayıp dönemde Avrupa iktisadi düşüncesinin daha soyut ve içsel olarak tutarlı bir kurama doğru ilerlerken, Akdeniz dünyasının daha kurumsal ve politika odaklı kaldığını; bu yüzden de Galiani'nin yapıtının Avrupalı okur için "kayıp" olduğunu tespit ediyoruz. Galiani, kendi içsel dinamikleriyle değişmeye başlamış Avrupa iktisadi düşüncesinde kendine yer bulan, erken dönem Akdeniz iktisadi düşünürlerinin sonuncularındandı. Galiani'nin Napoli'den Paris'e ve arzu ettiğinin aksine tekrar Napoli'ye taşınma serüveni bu yüzden sembolik bir içeriğe de sahiptir.

As each new round of multilateral trade negotiations Autonomous Liberalization approaches, there is a in M ultilateral Tra e 1demand for a negotiating rule that would give credit for Negotiations? previous unilateral liberalization. The feasibility and desirability of such a rule Aaditya Mattoo depend on when it is

Childhood overweight and obesity are growing public health concerns, leading to metabolic consequences such as increased body mass index, larger waist circumference, and excess body fat. Multi-component school interventions that address both the obesogenic environment and individual behaviors have been recommended, but their effectiveness remains uncertain. This review and meta-analysis, conducted following PRISMA guidelines, examined the impact of multi-component interventions -including modifications to the school food environment -on adiposity and food consumption among children and adolescents. A search on MEDLINE, SciELO, CENTRAL, Clinical Trials, Scopus, Embase, and Web of Science identified 51 eligible studies. The meta-analysis showed a small but significant reduction in waist circumference (MD: -0.70cm; 95%CI: -1.22, -0.19; I 2 = 40%). Interventions were also linked to lower intake of unhealthy foods, total energy, total fat, saturated fat, and increased vegetable consumption. However, no consistent effects were observed for body mass index or body fat percentage. Study quality varied, and intervention designs and implementation strategies were heterogeneous; thus, results should be interpreted cautiously. These findings suggest that while school food environment interventions can improve some dietary behaviors and adiposity indicators, their effectiveness in preventing obesity remains inconclusive. Strengthening policies and ensuring long-term, structured interventions are crucial for meaningful and sustained health improvements in school settings.

Sustainable development practices have become very important for firms to go beyond short-term profitability, towards economic, environmental and social sustainability. This research aims to examine the relationship between a firm's sustainable development practices and its financial performance. Modelled as a multidimensional construct, sustainable development practices are represented by environmental practices, social practices in the workplace and social practices in the community, while financial performance is determined by profitability and growth. Using a mixed method survey, data were obtained from 389 textile firms in Vietnam, where there is a dire need to promote sustainable and environmental practices. Data analysis using partial least squares structural equation modeling demonstrates that sustainable development practices positively affect financial performance directly and indirectly via customer loyalty, employee satisfaction and corporate reputation. The findings also reveal the moderating role of entrepreneurial orientation, whereby the impact of sustainable development practices on financial performance is stronger for firms that are more innovative, proactive and willing to take risks. Taken together, these findings provide support for firms to holistically implement sustainable development practices and adopt an entrepreneurial orientation.

Sintesi . Il lavoro analizza la relazione tra la diversa performance nella crescita economica delle regioni italiane nel periodo 1970-91, da un lato, e le caratteristiche di assetto istituzionale e di stabilità economica e sociale dall'altro. Gli indicatori per tali fenomeni, che risultano rilevanti nelle comparazioni internazionali, hanno un effetto più sfumato nel caso dell'esperienza delle regioni italiane.

The authors analyse the effects of public spending on tourism in the regions of Italy by adopting a cross-sectional regression analysis approach. The evaluation is made possible by the availability of a database under the project entitled ‘Conti Pubblici Territoriali’ (‘Regional Public Accounts’) of the Ministero dello sviluppo economico (Ministry of Economic Development), wherein the spending of all public institutions is aggregated for each region and classified according to different criteria, including the sectoral criterion. Furthermore, the effects of public spending on tourism on the tourism attractiveness of various regions are also investigated. Generally, the effectiveness of public spending appears to be deficient.

The paper analyses the cointegration relationships and the causal links between the exchange rate of the US Dollar, on the one side, and different price indices of US products on the other side. Data are of monthly frequency and cover a period of two or three decades. We show that the exchange rate cointegrate with the Consumer Price Index and with the prices indices of several agricultural, manufactured and service goods; moreover a one-direction causal link is present, running from price to exchange rate. On the opposite, cointegrating relationships between exchange rate and price indices do not exist in the case of recreational products with "cultural" content. Tentative theoretical explanations are proposed.

Chinese economic success is not the product of free market accidental coincidence. Rather, it is orchestrated by the State through a mixture of nationalism (‘big think’) and pragmatic decisions (disjointed incrementalism) in agriculture, finance and industry. Furthermore, these decisions build upon existing institutions (e.g. the Household Responsibility System, Township Village Enterprises, etc), some dating back to pre-revolutionary China (e.g. Special Economic Zones), rather than imported ones from outside China. The article explores the utility (and lack thereof) of the Chinese model in the African context, as well as the possibilities of an Africa-centred ‘big think’ (Pan-Africanism) capable of mobilizing the continent for development.

Charity Registration Number 306371 Charitable Company Number 877338 change. It suggests, however, that a clearing house system could be established to redistribute entitlements between states so the share of VAT revenue to which states are entitled is ultimately based on a 'fiscal equalisation' calculation, with the aim of enabling all states to provide equal value programmes and benefits to their citizens. Transitional rules that gradually increase the proportion of VAT revenue subject to a fiscal equalisation formula can smooth the impact of shifts of revenue that result from the change.

Charity Registration Number 306371 Charitable Company Number 877338 change. It suggests, however, that a clearing house system could be established to redistribute entitlements between states so the share of VAT revenue to which states are entitled is ultimately based on a 'fiscal equalisation' calculation, with the aim of enabling all states to provide equal value programmes and benefits to their citizens. Transitional rules that gradually increase the proportion of VAT revenue subject to a fiscal equalisation formula can smooth the impact of shifts of revenue that result from the change.

Charity Registration Number 306371 Charitable Company Number 877338 change. It suggests, however, that a clearing house system could be established to redistribute entitlements between states so the share of VAT revenue to which states are entitled is ultimately based on a 'fiscal equalisation' calculation, with the aim of enabling all states to provide equal value programmes and benefits to their citizens. Transitional rules that gradually increase the proportion of VAT revenue subject to a fiscal equalisation formula can smooth the impact of shifts of revenue that result from the change.

• There are three different, non-mutually exclusive lines of explanation for the crisis: wrong incentives in the financial sector, unsustainable macroeconomic outcomes, and misunderstood and mismanaged systemic complexity. These yield different sets of policy recommendations. • Steps have been taken to address several issues -overhaul of financial regulation, supervisory reform, changes in the monetary policy framework -but some crucial themes are still to be addressed. • On the regulatory front, moral hazard, separation of retail and investment banking, the desirable size of the financial institutions, and the impact of new capital regulations on the cost of capital have to be resolved. • On the macro-financial front, the crisis has shown that economic policy must encompass risk-management, and has raised questions about the role of central banks in financial stability. There is no agreement as to how much current-account imbalances contributed to financial instability, and the history of peer-pressure-based surveillance does not bode well for the newly-created G-20 framework for sustainable growth. Previously published as CEPII (Centre d'études prospectives et d'informations internationales) working document 2009-28.

This paper assesses the extent and policy implications of simultaneous competition among countries on both corporate tax rates and the provision of public goods used by firms as production factors ('public factors'). First, we derive the relevant theoretical results in a unified framework where a corporate tax is used to finance a public good that raises both household utility and firm productivity. Then, the relevance of such simultaneous competition is tested using data on foreign direct investment from the US to EU member states. Both the theoretical analysis and the empirical results presented in this paper suggest that focusing on the tax side of the competition for the location of multinationals is misleading. It shows that there are grounds for the coexistence of high tax/spending countries and low tax/spending ones. Furthermore, provided multinationals are heterogeneous concerning their use of public factors, the competition for attracting them could take the form of a vertical or horizontal specialisation, whereby each government would seek to attract a certain type of activity through the adequate provision of certain public factors. In this framework, international competition could act as a vector for raising public-sector efficiency rather than as a standardisation factor.

This paper assesses the extent and policy implications of simultaneous competition among countries on both corporate tax rates and the provision of public goods used by firms as production factors ('public factors'). First, we derive the relevant theoretical results in a unified framework where a corporate tax is used to finance a public good that raises both household utility and firm productivity. Then, the relevance of such simultaneous competition is tested using data on foreign direct investment from the US to EU member states. Both the theoretical analysis and the empirical results presented in this paper suggest that focusing on the tax side of the competition for the location of multinationals is misleading. It shows that there are grounds for the coexistence of high tax/spending countries and low tax/spending ones. Furthermore, provided multinationals are heterogeneous concerning their use of public factors, the competition for attracting them could take the form of a vertical or horizontal specialisation, whereby each government would seek to attract a certain type of activity through the adequate provision of certain public factors. In this framework, international competition could act as a vector for raising public-sector efficiency rather than as a standardisation factor.

Using data from Vietnam, this article describes several types of analysis that could be conducted before launching a major downsizing operation to identify possible gender effects. It draws sev-eral conclusions about Vietnam’s downsizing reforms. First, although women’s prospects of obtaining salaried jobs following displacement from state-owned enterprise worsened as a result of recent reforms, they are likely to improve in the near future. Second, reforms are associated with a sharp decline in the gender gap in earnings, both in and outside the state sector. Third, overstaffing is greatest in sectors in which most employees are men, such as construction, mining, and transportation; it is much less prevalent in sectors in which women dominate the work force, such as footwear, textiles, and garments. Fourth, training and assistance programs currently in place to help redundant workers reveal no evidence of strong gender bias. Fifth, severance packages based on a multiple of earnings...

This paper examines the differential impact of the euro conversion on prices and wages in France between 1999 and 2025. Using comparative analysis of essential goods prices and professional salaries, we demonstrate a systematic asymmetry in the conversion process. While nominal wages followed the official conversion rate (6.55957 FRF = 1 EUR), numerous consumer goods experienced price adjustments that significantly exceeded this ratio. We document cases where prices underwent simple numerical substitution (e.g., 1.50 FRF → 1.50 EUR), resulting in a de facto multiplication by 6.56. This asymmetric adjustment mechanism led to substantial purchasing power erosion for middle-income households. Our findings suggest that psychological anchoring effects and market power asymmetries during currency transitions can generate sustained distributional consequences that traditional monetary policy frameworks fail to capture.

This paper examines the leadership styles of prominent Anglo-Caribbean political figures between 1970 and 1990, a critical period of post-independence nation-building and socioeconomic transformation. Drawing on case studies from Jamaica, Trinidad and Tobago, Barbados, Grenada, Dominica, and Guyana, the analysis identifies several recurring leadership styles: transformational, charismatic/populist, pragmatic/technocratic, nationalist, and authoritarian. It explores how colonial legacies, economic crises, grassroots activism, and Cold War geopolitics shaped these styles. Leaders such as Michael Manley, Maurice Bishop, and Errol Barrow adopted visionary and reformist approaches, while others, like Edward Seaga and George Chambers, favored economic stabilization and institutional pragmatism. The study underscores the significance of leadership in shaping governance outcomes, public policy, and regional identity in the Anglo-Caribbean. By analyzing the intersection of personality, ideology, and historical context, the paper provides insights into the enduring impact of leadership on modern Caribbean political culture and institutional development.

The informal economy is a major part of the global economy sector that provides the needed development approach through the use of local aspects, small market size and social capital generated by the sector for sustainability. This paper assessed the impacts or important of the informal sector on the economy development of Nigerian and its challenges for sustainability. The Max Weber and Dudley Seers social developmental theory were used to explain the study, while some importance and challenges of the sector were explored. The paper therefore concluded that since informal economy sector can help to reduce the focus from globalized to the local alternative path of development and sustainable future. The study recommends amongst other that efforts must made to understand the dynamics of the sector and how best to tap the potential that lies therein since it has the potential for Nigerian economy development. Secondly, policy to support the sector and to address the identified challenges towards improving, sustainability and productivity of the sector should made possible in Nigeria

Purpose: The informal economy is a major part of the global economy sector that provides the needed development approach through the use of local aspects, small market size and social capital generated by the sector for sustainability. This paper assessed the impacts or important of the informal sector on the economy development of Nigerian and its challenges for sustainability. Methodology: The Max Weber and Dudley Seers social developmental theory were used to explain the study, while some importance and challenges of the sector were explored. Results: The paper therefore concluded that since informal economy sector can help to reduce the focus from globalized to the local alternative path of development and sustainable future. Unique Contribution to Theory, Policy and Practice: The study recommends amongst other that efforts must made to understand the dynamics of the sector and how best to tap the potential that lies therein since it has the potential for Nigerian economy develo...

This paper attempts to identify implicit exchange rate regimes for the Yen/Dollar exchange rate. To that end, we apply a sequential procedure that considers both the dynamics of exchange rates and central bank interventions to data covering the period from 1971 to 2003. Our results suggest that implicit bands existed in two subperiods: April-December 1980 and March-October 1987, the latter coinciding with the Louvre Accord. Furthermore, the study of the credibility of such implicit bands indicates the high degree of confidence attributed by economic agents to the evolution of the Yen/Dollar exchange rate within the detected implicit band rate, thus lending further support to the relevance of such implicit bands. Keywords: Exchange rate regimes, implicit fluctuation bands, exchange rates. * The authors wish to thank two anonymous referees and Mark Taylor for helpful comments and suggestions on a previous draft of this paper, substantially improving the content and quality of the paper. We are also in debt to Christopher Neely (Federal Reserve Bank of St. Louis) for kindly providing the data set on official interventions used in this paper. Financial support from the Spanish Ministry of Science and Technology (SEJ2005-09094/ECON and ECO2008-05565) is also gratefully acknowledged. The views expressed here are those of the authors and not necessarily those of the institutions with which they are affiliated.

"Az EU széndioxid emisszió kereskedelmi rendszerét bevezető irányelv, az átvételhez kapcsolódó feladatok és várható költségvetési hatások" című kutatás résztanulmánya A tanulmány a szerzők véleményét tükrözi, azaz nem tekinthető a Pénzügyminisztérium hivatalos álláspontjának. www.pm.gov.hu PM KUTATÁSI FÜZETEK 11. SZÁM A tanulmány nem tükrözi a Pénzügyminisztérium hivatalos álláspontját

Afin de choisir notre sujet de mémoire, nous sommes partis d’une discipline qui nous
passionne, la finance pour l’associer à une problématique d’actualité : le changement
climatique. Sachant que la finance parvient toujours à se réinventer pour attirer les
investisseurs. Nous avons pensé qu’il devait bien y avoir un produit financier corrélé à
cette problématique. C’est ainsi que nous avons fait la découverte des obligations
catastrophes ou catastrophes bonds (CAT bonds en abrégé). Un tel actif financier
destiné à couvrir le risque de catastrophes naturelles.
Actuellement, le coronavirus, les catastrophes naturelles et la volatilité des marchés
financiers poussent les investisseurs à se diriger vers des actifs non corrélés aux
marchés financiers. La capitalisation du marché des produits titrisés d’assurances
(Insurance Linked Securities, ILS) est en augmentation constante. Selon la Caisse
Centrale de Réassurance (2021), la hausse de la sinistralité atteindra les 50 % d’ici
2050.
C’est ainsi que nous avons décidé de plonger plus profondément dans ce marché de
niche réservé aux quelques investisseurs experts dans le domaine. Il serait intéressant
de voir ce qui se cache derrière ces actifs si attrayants.
Dans ce travail, nous allons nous intéresser à leur histoire, leur fonctionnement,
les marchés sur lesquels ils s’échangent, le risque qu’ils représentent pour leur
détenteur, leur rendement, les acteurs du marché, etc.
Dans la partie pratique de ma recherche, j’examine les impacts de l’intégration
des CAT BONDS à un portefeuille diversifié d’actions et d’obligations classiques
pour voir les effets de ces derniers sur le rendement et le risque du portefeuille
ainsi constitué.
Nous terminerons ce mémoire en vérifiant si les CAT bonds peuvent répondre
aux limites du secteur de la ré/assurance face aux catastrophes naturelles en
Afrique subsaharienne en examinant comment « démocratiser » cet actif
financier en Afrique subsaharienne et en étayant nos recommandations.

Resilience has become an important topic on the safety research agenda and in organizational practice. A particularly important issue from the security point of view of any chain of action is to increase the reliability of the security chain. At this point, it is possible to apply methods characteristic of the theory of reliability of technical devices in the phases: composition, implementation and application. The subject of this research is the phase of application (operation) of the chain of action and methods of increasing its resistance to anomalous situations using the principle of redundancy. The main research problem is expressed by complementary question of a praxeological nature: what methods of increasing the resilience of the chain of action in the application phase can be distinguished in the application of the principle of redundancy? The author used the strategy of theory prior to research and deductive reasoning based on inference and the classical principle of analogy, opposites and completeness. The following types of redundancy were distinguished and described by the author: structural, functional, parametric, informational, strength, temporal and elemental.

This paper discusses the nature of zakat in the context of public finance. In Indonesia historical path, political, social and economic dimensions affected the development of zakat. Among three regimes, zakat has the most significant transformation in Reformation Era. The presence of law regarding zakat and BAZNAS as government's amil institution is the transformation zakat organising from informal to be more formal. Zakat has the significant role in public finance, especially provide a fund for social spending. Poverty and income inequality are critical problems in Indonesia which need attention. To boost zakat performance, transformation process from Partial Model into Comprehensive Model is crucial to increase the amount of zakat fund. The government of Indonesia should place zakat to play the strategic role and integrated in Indonesia's development since zakat has great potential. Moreover, political dimension should focus to urge zakat integrated with development. Changing from voluntary to the obligation in regulation with sanction and integrated zakat and tax system would accelerate the transformation process into Comprehensive Model.

The budget is the basic document for financing state functions in every modern state. It is a financial instrument that raises funds through the mechanism of public revenues and systematically spends them to finance public expenditures. The budget is a one-year law that envisages, approves, and allocates all state revenues and expenditures during one budget year. Despite the existence of gender-neutral laws and regulations around the world, people are treated daily on the basis of their gender, and not on the basis of individual needs. It cannot be allowed to depend on one's good will whether the services provided by the public sector, or any other legal entity will be adapted to the needs of both women and men. Gender equality is a challenge, and the introduction of the principle of gender equality and its budgeting is an even greater challenge. Gender-responsive budgeting is an innovation in public finances that broadens the needs of society.

This paper analyses the impact of reform and different regulation regimes on the effectiveness of procurement at a large state university in the period from 2008 to 2012. We evaluate the impact on the procurement effectiveness parameters of two significant changes in the public procurement regulations: transfer to electronic auctions from 2010 under the Federal Law and the adoption by this organization of its own Procurement Provision from 2011. We show that transfer to electronic auctions leads to higher competition and more significant price decreases, whereas the adoption of Procurement provision has the opposite effect. Regarding delays in contract execution, the first reform has no effect and the second regulation change results in decreasing delays. JEL Classification: H57.

The urgency of the topic is due to the need to study the mechanism of the regulatory function of taxes through which the state actively influences the macroeconomic processes in conditions of economic instability. In conditions of economic ups and downs, the fiscal system, as a basic element of the economy, on the one hand, provides the financial foundation of the state, and on the other hand - is one of the main tools for tax policy and government intervention in the economic system. Taxes are an integral part of the fiscal system; they are an objectively existing institution of society, and one of the factors influencing social and economic development, which requires a study of its mission and content. The peculiarities of the regulatory function of taxes in the conditions of endogenous and exogenous factors of instability are revealed. It is shown that integration into the external uncertain financial space causes a number of non-standard problems for the national system of stat...

Questo volume contiene le ricerche di amici e colleghi di Luciano
Marcello Milone, sviluppate sui temi principali della sua ricerca:
l’economia internazionale, la sua disciplina elettiva, l’economia europea,
l’economia italiana, economia comportamentale, sostenibilità
ambientale e sociale, lavoro da casa.
Hanno contribuito al volume: Nicola Acocella, Giuseppe Ciccarone,
Giuseppe Croce, Giovanni Di Bartolomeo, Mario Draghi, Maurizio
Franzini, Michele Grillo, Paolo Guerrieri, Paolo Marullo Reedtz, Diego
Piacentino, Felice Roberto Pizzuti, Gian Cesare Romagnoli, Luca Salvatici,
Sergio Scicchitano, Annamaria Simonazzi, Mario Tiberi, Domenico
Tosato, Ignazio Visco.
Vi sono assonanze evidenti nei saggi presentati in questo volume, i
quali si collegano fortemente al pensiero e agli scritti di Luciano Milone
che, a loro volta, rispecchiano l’eredità di convinzioni teoriche evalori civili ricevuta da Federico Caffè, il maestro di molti di noi.  Emerge, tra tutte, a questo riguardo, la visione delle relazioni tra Stato e mercato, e via via altre, pure fondamentali, che Caffè e la sua scuola hanno ereditato da John Maynard Keynes.

This book contains the research articles of friends and colleagues of Luciano Marcello Milone, on the main issues of his work: international economics, his elective discipline, European economics, Italian economics and behavioural economics, environmental and social sustainability, remote working .
Nicola Acocella, Giuseppe Ciccarone, Giuseppe Croce, Giovanni Di Bartolomeo, Mario Draghi, Maurizio Franzini, Michele Grillo, Paolo Guerrieri, Paolo Marullo Reedtz, Diego Piacentino, Felice Roberto Pizzuti, Gian Cesare Romagnoli, Luca Salvatici, Sergio Scicchitano, Annamaria Simonazzi, Mario Tiberi, Domenico Tosato, Ignazio Visco have contributed to this volume.
In the essays presented here, there are evident assonances  which are strongly connected to Luciano Milone's thought and writings that in turn reflect the heritage of theoretical convictions and civic values received from Federico Caffè, the master of many of us.  Among all, at this regard,  it emerges the vision of the relations between State and market and gradually other also fundamental ones, which Caffè and his school have inherited from John Maynard Keynes.

The authors also examine the domestic policy introduction to the economics of the Multifibre distortions affecting the industry in India. While the Arrangement (MFA) and use available empirical evidence abolition of quotas on international trade in textiles in to examine its impact on exports of garments and 2005 will create opportunities for developing countries, textiles, focusing on India. Their review of the basic it will also expose them to additional competition from economics of the MFA shows the discriminatory other, formerly restrained exporters. The outcome for character of the Arrangement. While exporting countries any country will depend on its policy response. can gain from quota rents, much of this gain is likely to Countries that use the opportunity to streamline their be offset by losses in exports to unrestricted markets, policies and improve their competitiveness are likely to through waste resulting from domestic rent-seeking increase their gains from quota abolition. Modeling behivior, or shared with industrial country importers. results suggest that South Asia as a whole will gain from Mo-eover, the restrictions curtail the ability of countries quota abolition, although different countries may to generate sorely needed employment in the laborexperience different results. Unambiguously, however, intensive garment and textile sectors. Recent estimates the gains from domestic reform will increase after the for India of the export tax equivalents of the quotas abolition of the quota arrangement. suggest that they increased in 1999, after a couple of years around lower levels.

Las Cooperativas de Ahorro y Crédito (Coopac) en Perú desempeñaron un papel crucial en la inclusión financiera durante su auge a partir de 1960, ofreciendo servicios esenciales a comunidades desatendidas por la banca tradicional. Sin embargo, la década de 1980 marcó un período de desafíos significativos para estas instituciones, las cuales enfrentaron un escenario tormentoso auspiciado por una crisis económica severa y una política gubernamental intervencionista. En ese sentido, este fracaso de las Coopac se explica en cómo la competencia bancaria, la desintermediación financiera, la represión financiera y la inflación erosionaron su base operativa. No obstante, las condiciones externas no son determinantes, puesto que es necesario vincularlas a problemas más internos que resalten la importancia de las dinámicas de las cooperativas, incluyendo la mala gestión y la pérdida del capital social. De esa manera, se explica que el declive de las Coopac durante la década de los ochenta encuentra su asidero en la multicausalidad o, visto de otro modo, en su intento de sobrevivir a una tormenta económica con problemas estructurales desatendidos que agravaron su funcionamiento.

Gender in a Macroeconomic Framework: A CGE Model Analysis ANUSHREE SINHA AND SANGEETA, N. 1 Introduction The importance of gender aware macro-economic ... There is evidence that liberalization affected growth favourably in India during the 90s (Srinivasan, 1998). ...

The access to air transport is one of the main determinant of economy development and competition of the region. Air transport development influences the social unity and shortens the distance between the most remote areas of Europe and the region. The problem of air transport development is underlined in the White Paper "European transport policy 2010, time to decide". The document shows the assumptions of the Lisbon Strategy, where emphasis is put on the importance of maintaining the air transport between the regional airports and regional centres and the big central units [5]. The article is an analysis of the situation on the market of the airport services in Poland

(Online). JST is a peer-reviewed journal published three times a year (April, August, and December) by UPT Publication and Journal Management, Islamic University of Kalimantan. JST is intended to be the journal for publishing articles reporting the results of science and technology research. JST is accredited by the Ministry of Research, Technology and Higher Education of the Republic of Indonesia (Kemenristekdikti), No. 24/E/KPT/2022.

This article supports the assessment of policy advice prompted by the 'servicisation' issue. Advice to developing countries has long advocated industrialisation. However, structural change since the end of the Cold War has been servicisation, not industrialisation. This, and the lack of work on servicisation with many studies supporting industrialisation, show confirmation bias and problems managing anomalies. Shifts towards policies stressing services exist but are rare. Those using policy advice therefore need ways to manage such issues. This article shows how policy assessment can be done, partly by monitoring gaps between experienced realities and advocated policies, and partly through examination vulnerability to confirmation bias. Here, the latter stems from the standard analytical framework's use of production functions that relies empirically upon the assumption that constant price sectoral GDP measures 'output', but it does not. Assessment of policy can also search for lack of attention by researchers to confirmation bias.