Stefano Lucarelli

Stefano Lucarelli
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Stefano verified their affiliation via an institutional email.
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Stefano verified their affiliation via an institutional email.
  • MD in Economic and Social Disciplines, PhD in Economics
  • Full Professor in Economic Policy at University of Bergamo

About

90
Publications
54,777
Reads
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745
Citations
Introduction
I am Full Professor in Economic Policy at University of Bergamo since May 2024. I have been Associate Professor (April 2017-April 2024) and Assistant Professor (November 2006-March 2017). My research projects include cognitive capitalism, monetary theory of production, financialization, stock-flow consistent models and complementary currencies. I have been involved as researcher in the D-CENT European Project (2013-2016) and in the DECODE European Project (2017-2020). INET grantee in 2019.
Current institution
University of Bergamo
Current position
  • Full Professor in Economic Policy
Additional affiliations
January 2015 - present
University of Calabria
Position
  • Member of the Steering Committee of the Ph.D. in Politics, Culture and Development
November 2006 - April 2014
University of Bergamo
Position
  • Professor (Assistant)
Description
  • During this period year I was Aggregate Professor (i.e. teacher and coordinator) for two master courses: International Monetary Economics and Economic and Business Ethics.
March 2020 - September 2020
French National Centre for Scientific Research
Position
  • Chercheur Invité
Description
  • http://ec.europa.eu/research/participants/data/ref/h2020/wp/2016_2017/main/h2020-wp1617-leit-ict_en.pdf#page=36
Editor roles
Education
September 2002 - November 2007
Marche Polytechnic University
Field of study
  • Ph.D. in Economia Politica
September 1995 - April 2002
Bocconi University
Field of study
  • Laurea in Discipline Economiche e Sociali
September 1990 - July 1994
Liceo Ginnasio "Annibale Mariotti"
Field of study
  • Diploma

Publications

Publications (90)
Article
Schumpeter argued that boom and bust cycles are inherent to the rise of innovation and constitute an unavoidable consequence of the way the capitalist system reacts to the emergence of a wave of innovations. This contribution aims to describe Schumpeterian economic development in a ‘monetary theory of production’ framework, emphasizing the crucial...
Article
Full-text available
The present work aims at contributing to the recent stream of literature which attempts to link the Neo-Schumpeterian/Evolutionary and the Post-Keynesian theory. The paper adopts the Post-Keynesian Stock Flow Consistent modeling approach to analyze the process of development triggered by the emergence of a new-innovative productive sector into the...
Article
Since April 2014 to March 2015, the ECB expansionary monetary policy instigates a huge depreciation of the euro in terms of dollar. According to the mainstream monetary theory these dynamics should make cheaper the exports and at the same time make more expensive the imports. Has real depreciation of the euro helped in the improvement of European c...
Article
Full-text available
The article aims to bring to light the limits and contradictions of cryptocurrencies, as well as to investigate possible alternative uses of them. Particularly focusing on Bitcoin, understood as a benchmark for the entire sector, the authors seek to answer the following questions: Should Bitcoin be considered a currency, an investment vehicle, or a...
Article
Between May 2014 and April 2017, the Pound Sterling depreciated substantially against the Dollar. The objectives of this paper are: 1) to investigate how that depreciation affected the main British industries; 2) to verify whether the trade asymmetries following the currency depreciation can be explained by considering the technological features of...
Article
Full-text available
Perché Marx dovrebbe essere studiato dagli economisti (with Stefano Lucarelli), «Pandora Rivista», 4 March 2025, https://www.pandorarivista.it/articoli/perche-marx-dovrebbe-essere-studiato-dagli-economisti/.
Article
Full-text available
The article analyzes the evolution of cryptocurrencies in the years following the 2007-2008 financial crisis, focusing on their potential role as an alternative to the traditional monetary system and the growing interest they have generated among regulatory authorities. Despite the original vision that inspired them, cryptocurrencies-starting from...
Article
Full-text available
Full article: https://weapedagogy.wordpress.com/2025/02/10/why-marx-should-by-studied/. We read with interest Phillip W. Magness’s article "No, Marx Was Not an Important Economist" (https://blog.independent.org/2025/01/13/no-marx-was-not-an-important-economist/) and we would like to argue why, according to us, not only knowing the history of econ...
Article
This introduction briefly presents the contents of the six contributions that compose the special issue of the Forum for Social Economics titled 'recent crises and the evolution of European policies'. We discuss the papers by proposing a reflection on the evolution of the European institutional structure, the assessment of policies that have marked...
Article
This paper explores the implications of global capital centralization, defined as increasing ownership of the global capital stock by the dominant economic power. The paper explores a capitalist ‘reproduction’ scheme detailing a ‘zero steady state’ of capital centralization. The scheme examines the links between trade imbalances, capital centraliza...
Article
Full-text available
A notable feature of the Italian healthcare system-where funding is centralized and regions manage services locally-is the mismatch between expenditure and funding dynamics, leading to a structural deficit and frequent bailouts on the part the regions. To explain the actions of central and regional governments, we propose a strategic game. The natu...
Conference Paper
Full-text available
Presentiamo "Classe operaia e padronato nelle recenti vicende economiche", un opuscolo derivante da una lezione tenuta da Augusto Graziani nell’ambito di un corso per la formazione dei quadri dirigenti della Federazione Lavoratori Metalmeccanici (FLM) di Brescia svoltosi fra marzo ed aprile nel 1974. Fino ad oggi questo testo non era stato preso in...
Chapter
This contribution analyzes the evolution of public debt and inflation in Italy between the late 1960s and the present. In particular, five distinct phases are identified. The first phase (1969-1979), in which the evolu- tion of public debt and inflation was strongly influenced by interna- tional shocks and trade union struggles. This period was cha...
Article
Full-text available
One of the factors that characterize the different countries of the Balkan area is the level of corruption which, as often stressed by scholars, may significantly influence the economic growth of its countries. However, there is still no agreement on the sign of this effect: there are theoretical arguments and empirical results in favor of a positi...
Article
Full-text available
This paper tries to highlight some essential elements that emerge from Luigi Pasinetti's work. Much of the research project that Pasinetti developed, especially in the 1981 book, was already present in nuce in the 1974 collection of essays. Here the theory of effective demand is presented for the first time, emphasizing the essential differences be...
Chapter
Relaxing regulations on international capital flows could favorably impact the economic growth of nations, as it offers opportunities for richer countries to finance investment projects that are crucial for struggling countries. However, it could also lead to systemic instability, contributing to a series of violent financial crises. Identifying an...
Chapter
Full-text available
We envision a scalable economic model based on participatory economic theories that can sustain the distributed design and production of software and hardware based on the free and open-source ethos. Beyond licensing, we imagine a model that rewards people making contributions to projects for which free markets have a demand. The underpinnings of o...
Article
Nelle note che seguono cercherò di mettere a disposizione dei lettori alcuni elementi sostanziali che emergono da quei lavori di Luigi Pasinetti che, nella mia esperienza di insegnamento, rappresentano dei passaggi formativi imprescindibili. Si tratta di argomenti adatti agli studenti che frequentano un corso di economia all’interno di una laurea t...
Chapter
First generation cryptocurrencies have indicated practical options for rethinking our monetary system and our way to conceive monetary policies. Central Banks have for many years relinquished the task of affecting the behavior of cryptocurrency holders. Instead, it has been state regulation that has sought to discourage the increase in cryptocurren...
Article
Full-text available
The objective of the analysis is to study the relationships between GDP, energy consumption, renewable energy production, and CO2 emissions in some European transition economies in the period 1990-2018. We use the growth rates of per capita values, in a panel VAR approach where all variables are typically treated as endogenous, allowing some infere...
Article
Full-text available
We investigate how the 2014-2016 depreciation of the euro against the US dollar triggered a cascade effect on the European supply chains which reduced the current account imbalances among the EU member states. In particular, we analyze the specific case of Greece to verify whether the higher export demand towards the USA in the two main European ex...
Article
Classics of political economy – Ricardo, Marx, Keynes – are not directly present in the first studies that Giorgio Lunghini dedicates to economics. The intellectual journey he undertook began with a “Critical examination of the various definitions of economic policy proposed in the last two centuries”, but the encounter with Ricardo, Marx and Keyne...
Article
Full-text available
Da cosa dipende il gap di produttività fra paesi core e paesi periferici nell’Eurozona? L’articolo propone una rivisitazione dell’equazione della produttività di Paolo Sylos Labini per dar conto del fenomeno della crescita vincolata dalla bilancia dei pagamenti messo in luce da Anthony Thirlwall. L’analisi cerca di verificare se gli squilibri comme...
Article
Full-text available
In the current scenario of global crisis, our official monetary system's inadequacy to provide solutions to the numerous serious problems affecting our society has become increasingly evident. This has led to the emergence of an astonishing number of projects that aim to rethink money. In order to make sense of these projects, it is necessary to ex...
Article
Per ricordare Giorgio Lunghini (Ferrara, 21 agosto 1938-Milano, 22 dicembre 2018) vorrei trattare un tema a lui caro ricercando i riferimenti principali negli interventi che lo videro protagonista negli anni in cui insegnò il corso di Teorie Economiche Alternative presso l'Università Bocconi di Milano: la crisi economica.
Article
We analyse the determinants of labour productivity across (a sample of) EA member-states. We focus on the divergent dynamics before and after the financial crisis, and of core countries relative to peripheral countries. We ground our empirical analysis in Paolo Sylos-Labini’s productivity equations. We test different models, including a Panel 2S-LS...
Article
Full-text available
The paper argues that Vergangenheit und Zukunft der Sozialwissenschaften (The Past and Future of the Social Sciences), a contribution not always well understood in the literature, is important to an understanding of Schumpeter’s concept of development as applied to the field of the social sciences. To this end, it addresses three key questions. Fir...
Article
Full-text available
Investighiamo il ruolo che la P2, nota loggia massonica clandestina italiana, ha avuto nelle vicende economiche del paese. Considerando tutte le imprese quotate sulla Borsa di Milano, analizziamo le interconnessioni fra le banche e le imprese infiltrate e non infiltrate dalla P2. I nostri risultati mostrano che nel periodo 1980-1981 le imprese infi...
Article
Full-text available
The study of criminal behaviour from the point of view of economics is mostly brought back to the canon of rationality. In this introduction to the special issue on crime and economy, we explain why it can be appropriate to move away from the extremely widespread vision that leads criminal actions to the microeconomic approach and, in particular, t...
Article
Full-text available
The diffusion of alternative financial and credit circuits, in which the money favours the self-management of social wealth, may curb the expropriation caused by processes of abnormal indebtedness that increasingly characterise economic systems. The article proposes an examination of four experiences with complementary currencies that have sprung u...
Book
The structure of this book The index of the book (largely composed of unpublished contributions)is designed precisely to allow the reader to reconstruct the main hypotheses shared by neo-workerist approaches, without however concealing hesitations and doubts, as well as some real differences of analysis regarding the origins, meaning and stakes of...
Article
Full-text available
The aim of the paper is to analyse the features of the digital labour connected with the so-called platform economy. Many platform-based business models rely on a new composition of capital capable of capturing personal information and transforming it into big data. Starting with the example of the Facebook business model, we explain the valorisati...
Book
Squilibrio. Il labirinto della crescita e dello sviluppo capitalistico. Dalla prefazione di Paolo Leon:. "Le ragioni dello squilibrio sono essenzialmente nell'incapacità delle imprese e delle famiglie di conoscere gli effetti macroeco-nomici delle loro azioni. Naturalmente, sono le decisioni di im-presa che muovono l'economia, ma non è chiaro come...
Article
Balkan countries are trying to attract foreign direct investment, hoping that foreign enterprises, besides employment, will also convey their know-how. This will later be transferred to their national industries, where it is expected to increase productivity. This paper examines the effects of foreign direct investment on productivity growth, unive...
Technical Report
Full-text available
DECODE – DEcentralised Citizens Owned Data Ecosystem – aims to develop practical tools to protect people’s data and digital sovereignty. The project is building towards a data-centric digital economy where citizen data, generated by the Internet of Things (IoT) and sensor networks, is available for broader communal use, with appropriate privacy pro...
Article
In this article the issue of basic income is analyzed along five main research vectors: A putative "Italian delay" concerning both the reception of the international debate on basic income and the original elaboration of its constitutive elements; Labor transformations in late capitalism; The role played by nation-states in the European space; The...
Article
Teaching Marx in an economics programme is, today, a difficult task. From the perspective of an Italian university teacher, such difficulty mostly resides in the diffusion of a dogmatic attitude: the end of the Soviet Union, and hence of the Stalinist use of Marxism, necessarily entails the dismissal of Karl Marx’s works. This dogma shows a cultura...
Article
Face à la multiplication des emplois précaires, il est devenu presque banal de diagnostiquer la crise de l’institution salariale et des formes de revendications qui y sont attachées. De même, on a souvent souligné le fait que l’accumulation capitaliste dépendait dorénavant de la mobilisation des capacités à réfléchir, à imaginer et à communiquer qu...
Article
Various examples of complementary currencies have recently emerged in Europe in response to the impact of the 2007 financial crisis. They have been variously labelled as social, local and alternative money but their economic meaning has still to be discussed. On the one hand, they have been hailed as innovative tools for socio-territorial policies...
Article
Full-text available
The debate on the Italian economic crisis in the Euro zone should address a fundamental issue: what is the origin of the decline in productivity that affected the Italian economic system even before the European crisis begun in 2010? We argue that the effective demand can be revived only by governing the structural economic dynamics. Embracing a th...
Book
Full-text available
Lo sfruttamento è ancora oggi la chiave imprescindibile per comprendere il capitalismo e le sue intrinseche contraddizioni. Tuttavia, con la crisi del modello di sviluppo industriale e fordista, il rapporto salariale perde progressivamente la sua centralità sociale, esplodendo, fino quasi a dissolversi. Conseguentemente, i modi del comando capitali...
Article
Full-text available
The first edition of Theory of economic development was published in 1911. It is a well known fact that after his death Joseph Alois Schumpeter – the most quoted economist after Keynes – experienced a purgatorial season from which he emerged at the time of the first petroleum shock, at the beginning of the 1970s, when the concept of Kondratiev’s wa...
Article
The links between the crisis of subprime mortgages and the so-called crisis of European sovereign debt are sometimes concealed, so as to create a veritable sense of shared guilt meant to sanction the legitimacy of the austerity policies that have been imposed by virtuous Northern European countries on the undeserving countries of Southern Europe. W...
Chapter
Full-text available
Development can be understood as a movement from a series of activities based on primary products to a range of knowledge-based activities. Attempts to incorporate technical pro-gress into the neoclassical production function are partial. A dynamic analysis of development, identified as the qualitative evolution of the economy, helps a better under...
Technical Report
This deliverable documents the state of the art of legal frameworks of implementation both in general, but also particularly for D-CENT Digital Social Currency experiments with pilot communities in Spain, Iceland, Finland and the use case in Italy. The richness in contexts of the various pilots is remarkable and is being taken into account as Freec...
Technical Report
Full-text available
D-CENT aims at developing large-scale collective platforms to support citizen empowerment. As shown by the preliminary considerations from the first round of interviews with alternative and complementary system managers in Spain, Finland and Iceland (D1.2 and D3.4), decentralised and privacy aware digital infrastructures are needed to allow institu...
Article
Full-text available
In this article, basic income (BI) will not be considered as a measure to raise living standards and social well-being. Rather, it will be presented as an indispensable structural policy for achieving a healthier social order governed by a more equitable compromise between capital and labor. Embracing the French Regulation School approach, we maint...
Article
Full-text available
The possible nexus between economic crises and what Marx and Hilferding referred to as “centralisation” of capital is one of the themes raised by the “great recession”. The article reviews the main studies devoted to such a nexus, comparing the Marxist and mainstream economic literature. A double causal relation is analysed: both concerning the rol...
Chapter
Mario Draghi (born in Rome 1947), is an Italian economist who has held and holds extremely important political offices. Today is the president of European Central Bank (ECB). His vision of economics and economic policy is partially, but significantly, influenced by Keynes’ theory, although he explicitly affirmed that monetary policy “can become an...
Technical Report
Full-text available
Lo scandalo delle emissioni truccate del gruppo Volkswagen ha scosso l’automotive, e su di esso si è rivolta l’attenzione dei media. Tuttavia per comprendere cosa bolle in pentola in un settore che continua a rappresentare nel bene e nel male una quota estremamente rilevante della produzione industriale, è bene aver presente che esso è da tempo int...
Book
Full-text available
I saggi che compongono questo libro traggono spunto in particolare dalla domanda seguente: quali forme assumerà nel prossimo futuro l’interazione tra i territori produttivi e lo scenario di governance continentale che di fatto li racchiude? Senza assumere una prospettiva analitica basata sul breve termine ed immediatamente applicabile in termini di...
Article
The main changes of new capitalism concern mainly two spheres: the new technological paradigm and valorization process and the importance of finance. The main feature of the prevailing finance-led growth regime during the first decade of new millennium is then presented. In this perspective, particular attention is given to the analysis of the evol...
Article
Full-text available
This deliverable is part of WP3 whose main objective is to "critically investigate the socio economic frameworks and the forms of value creation and impact measurement in the fast changing knowledge based-economy, that are shaping the evolution of future internet architectures, the forms of social interaction, and of democracy". (DoW WP3) This task...
Article
Full-text available
What is the role played by cognitive-cultural production? What are the meanings and the stakes of the "feminization" of labor? What is the meaning of "Digital Taylorism"? Is the metropolis today a functional substitute for the factory in the context of industrial capitalism? What is the role of universities in culturalcognitive capitalism? Is there...
Article
Full-text available
The article continues the debate on the "crisis within the crisis" that characterises Italy's economy. The authors argue that while the international and specifically the European crisis greatly contributed to the deterioration of Italy's economic prospects, the country is affected by longer term issues of its own. To analyse such problems, the art...
Article
Full-text available
Lo scorso 8 aprile è morta a Londra l’ex primo ministro britannico Margaret Thatcher. È stata la leader indiscussa a livello mondiale di una controrivoluzione conservatrice che ha distrutto il ‘compromesso socialdemocratico’ faticosamente conquistato dalla classe operaia nel secondo dopoguerra. Il thatcherismo è ancora oggi celebrato come sinonimo...
Article
The 1973-1978 workgroup on money of the Italian Workerist journal Primo Maggio aimed to change the social role of political intellectuals by innovating the methodology of historiography, sociology, economics and political science. Its research focused on the Marxian analysis of money in relation to theoretical and political impulses provided by the...
Article
Full-text available
ABSTRACT. This Special Issue, The Thesis of Cognitive Capitalism. New Research Perspectives, proposes a set of contributions that presents some of the research lines organized around the thesis of cognitive capitalism, a project that insists upon rereading the historical development of the capital/labor relation from the point of view of the knowle...
Article
Schumpeter, a century ago, argued that boom-and-bust cycles are intrinsically related to the functioning of a capitalistic economy. These cycles, inherent to the rise of innovation, are an unavoidable consequence of the way in which markets evolve and assimilate successive technological revolutions. Furthermore, Schumpeter’s analysis stressed the f...
Article
Badalian and Krivorotov (2012) not only acknowledge the strong link between the crisis of 2007 and the 1990s technological paradigm, but they also accept the complementarity between overinvestment in new technologies and increasing financial liquidity that we highlighted in our article "A Financialized Monetary Economy of Production" They argue tha...
Article
Full-text available
Schumpeter showed that the boom and bust cycles are intrinsically related to the functioning of the capitalist economy. These boom and bust cycles are inherent to the rise innovation. Our paper analyses innovation cycles in a stock flow consistent framework. It focuses on the essential role of internal and external finance in the emergence of a new...
Book
There is not just one economic theory but a number of competing theories. The dominant theory is the neoclassical theory. This theory describes the economic system as a self-regulating system, with a unique and stable equilibrium characterised by full employment, the absence of crisis and uncertainty, and with an objective and fair distribution of...
Book
Full-text available
This book aims to offer a picture of the recent developments in the Italian approach to the Monetary Theory of Production. To this end, the volume contains eight contributions (preceded by a precious Preface by Alessandro Vercelli) of ten heterodox economists, a part of whom participated in the homonymous special session at the VII Conference, Univ...
Article
Full-text available
The purpose of this article is to show that, contrary to neoliberal belief, social welfare services and spending should be recognised as the driving force behind a development dynamics based on knowledge-intensive production. In the first part, we shall briefly present the relationship between public debt and private debt. In the second part, we sh...
Article
Orléan’s research has its first references in the notions of uncertainty, mimetism, convention and self-referentiality of markets. We will discuss the theoretical categories that Orléan used. Secondly, we will present his analysis of the current financial and economic crisis. Finally we will discuss the possible scenarios to overcome the crisis and...
Article
Full-text available
Il vero scopo del ricorso alla Cig da parte delle grandi imprese e la finanziarizzazione del rapporto salariale. Il caso della Tenaris Dalmine e di come ha colto la crisi del 2007 per ribadire il proprio comando sul mondo del lavoro. L'obiettivo è di ridurre la possibilità che i lavoratori possano sentirsi una classe capace di esercitare un potere.
Article
Full-text available
The monetary theory of production offers a systemic approach to describe systemic crises, but, faced with contemporary capitalism, it needs to be modified. In accordance with the Schumpeterian perspective, we adopt a framework that points to both the monetary nature of and qualitative changes in the capitalist system. The low level of wages, and th...
Article
Full-text available
The structural changes that occurred in the last 30 years have substantially modified the capitalistic organization of society, both at national and international level. A new regime of accumulation, devoid of a stable mode of regulation and centred on financial valorisation of new socio-economic growth perspectives, has been consolidating. Condit...
Book
DEVOLVER TODA LA RADICALIDAD al pensamiento sobre la coyuntura es una urgencia implícita en toda crisis económica. Y sin embargo, estas aportaciones van mucho más allá de la lectura de la crisis. Nos hablan de una cesura epocal, de una transformación radical del capitalismo y de sus modos de extorsión y extracción de valor. Común a todas ellas es l...
Article
Full-text available
It is interesting that the stability of the system and its sensitiveness to changes in the quantity of money should be so dependent on the existence of a variety of opinion about what is uncertain. Best of all that we should know the future. But if not, then, if we are to control the activity of the economic system by changing the quantity of money...
Article
Full-text available
This special issue on "Money and technological change" is a collection of papers that focus on the understanding both of how credit and finance systems effectively work and of their role in shaping firms' innovative strategies and determining their performances. Already Schumpeter acknowledged to what extent innovation and thereby economic growth r...
Article
The aim of the paper is the explanation of the instability of the financing rules embracing the political-electoral cycles approach. A demonstration of the two following assertions is presented: - when Local Governments (Regions) are the sole manager of the HCS' expenditure, the increase of HCS' expenditure represents a political tool for the incum...
Article
Full-text available
In this article, basic income (BI) will not be considered as a measure to raise living standards and social well-being. Rather, it will be presented as an indispensable structural policy for achieving a healthier social order governed by a more equitable compromise between capital and labor. Embracing the French Regulation School approach, we maint...
Article
Full-text available
By treating labor like any other tradable good, orthodox economic models ignore various features that define the specificity of the labor market (disponibility, solvability, alienation). Taking into account such features, as the new situation generated by the emergence of cognitive capitalism forces us to do, requires a major change in paradigm. In...
Article
Full-text available
The aim of this paper is to present a first theoretical macro-modelling of cognitive capitalism, by utilizing the French regulation theory approach. With regard to the supply side analysis, we shall emphasize the role played by productivity dynamics: it is mainly affected by two types of dynamics: scale economics, based on learning processes and ne...
Article
In this paper we show how French Theory of Regulation has been considered in the Italian political economic debate. The Regulation Approach givessome explanations of the Fordist crise, by using methodological toolswhich are based on an historical- analytical one. It is relevant that themain book which gave life to Regulation Approach ("A Theory of...
Article
Full-text available
In this paper we show how French Theory of Regulation has been considered in the Italian political economic debate. The Regulation Approach givessome explanations of the Fordist crise, by using methodological toolswhich are based on an historical- analytical one. It is relevant that themain book which gave life to Regulation Approach ("A Theory of...
Article
Full-text available
The aim of our project will be that of identifying a model of socially sustainable economic development. In doing so, we will refer to two well-established fields of research: ethics and economics. More specifically, this project will concern with the relationship between the two. The importance of normative framework for economic arrangements has...
Article
In this paper we will try to represent in mathematical form some of the characteristics of a Post-Fordist economic system. In particular, we will focus on the theory of distribution, and on the role of income. We will try to identify the process that led to the crisis of Fordism by modifiyng the Ricardian framework presented in Pasinetti 1966. Rent...
Article
The aim of the paper is the explanation of the instability of the financing rules embracing the political-electoral cycles approach. A demonstration of the two following assertions is presented: - when Local Governments (Regions) are the sole manager of the HCS' expenditure, the increase of HCS' expenditure represents a political tool for the incum...

Questions

Questions (17)
Question
I am doing different researches to continue the empirical analysis I started with my Applied Economics paper about real depreciation of the euro and the change of European countries’ trade balances .
I am not sure that the empirical methodology I am using, i.e. an ARDL methodology, based on the ECM, proposed by Engle and Granger (1987), that gives both short-run and long-run results simultaneously, may be modified.
The main doubts I have are the following ones:
1) What about other drivers besides the macroeconomic variables in question? I am sure political uncertainty might play a role.
2) Many of the diagnostic tests (such as the LM test) show issues in the model (such as autocorrelation in the residuals). How have these tests informed the model? has it been respecified to correct any issues? I have noticed that many previous "J-Curve" papers tend to present, and immediately ignore, these diagnostic tests. Anywat the future research should not make the same mistake!
Question
Recentely I wrote a book in Italian, titled Squilibrio, to deepen the effects of the technological progress on the effective demand. We found a big relevance of expectations in our thought. And we found an incredibile abundance of different definitions of the effective demand.
Question
I read the contribution by Ferguson and Voth QJE 2008 who applied event analysis to "measure" the value of political connections in Nazi Germany. May your suggest other contributions about the same methodology applied to political and economic history?
Question
There may yet be a battery-powered vehicle in automaker’s future, but, more than any other manufacturer, Toyota is putting its considerable engineering might behind the hydrogen-powered fuel-cell vehicle. Hydrogen vs. Electric: Which is actually more efficient? What are the possible economic scenarios in the automotive industry?
Question
Complementary and/or virtual currencies are diffusing especially in Europe after 2008. At the same time, In Iceland and Finland the debate about monetary sovereignty seems politically relevant. Notwithstanding, I did not find news about the regulation of complementary and/or virtual currencies in those countries. 

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