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RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2004 - 1

digital RIVISTA INTERNAZIONALE  DI SCIENZE SOCIALI - 2004 - 1
Digital issue
journal RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI
issue 1 - 2004
title RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2004 - 1
publisher Vita e Pensiero
format Digital issue | Pdf

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Articoli

Razionalità e libertà
by Carlo Beretta pages: 24 Download
Does Asymmetric Information matter in Competitive Insurance Markets?
by Federico Etro pages: 20 Download
Abstract
Does asymmetric information matter in insurance markets? Recent evidence on the automobile insurance market suggests not, rejecting the separating equilibnum of the Rothschild-Stiglitz model. However, I show that a two-penod version of that model can sustain a pooling equilibrium with experience rating which is consistent with the evidence and it mimics the bonus-malus policies of the automobile insurance markets. I also simulate the model showing that under reasonable conditions coordination failures emerge due to multiple equilibria.
lndipendenza delle banche centrali e coordinamento tra politica monetaria e politica fiscale
by Elena Seghezza, Giovan Battista Pittaluga pages: 32 Download
Abstract
In a mode1 à la Rogoff, with independent fiscal (AF) and monetary (AM) authority, the Nash equilibrium is characterized by an infiation rate and by a fiscal surplus lower than the ones desired by the two authorities. In the contract of performance approach, the coordination problem between monetary and fiscal policy is solved bringing back the AM preferences to those of the AF. In this way, monetary policy is not safeguarded by politica1 pressures. If one accepts the political business cycle approach, the relations between AF and AM are brought back to a multi-period context, rather than a one period context as in Rogoff and in the contract of performance approach. In this perspective, AM and AF, although both independent, can give rise to repeated games and to forms of coordination, spontaneous or «forced». The latter can be realized in institutional moments of negotiation between AM and AF or in normative constraints to the behaviour of AM and AF.
II costo dei figli: una stima svincolata dal benessere
by Veronica Polin pages: 30 Download
Abstract
Economic literature suggests adopting the equivalence scale in order to calculate the private monetary cost of a child. This estimation is based upon controversia1 assumptions about exogeneity of fertility choice, identica1 preferences and possibility of welfare comparisons. In this paper we propose a different approach for estimating the cost of children. This method does not require household welfare comparisons and assumptions about preferences. Using the 1997 Italian Household Budget survey, we estimate the increase in the total expenditure caused by the presence of an additional child for households with equal income and socio-economic characteristics. The monthly margina1 cost is equal to 9% for households with average income.

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