if this message does not display correctly, click here | Table of Contents Paolo Canofari, affiliation not provided to SSRN
Giancarlo Marini, University of Rome II - Faculty of Economics
Giovanni Piersanti, University of Rome II - Department of Economics and Law Barbara Annicchiarico, University of Rome II - Department of Economics and Law
Fabio Di Dio, Consip S.p.a.
Francesco Felici, Government of the Italian Republic (Italy) - Ministry of Economy and Finance - Department of the Treasury Vincenzo Atella, University of Rome II - Faculty of Economics
Federico Belotti, University of Rome II - Faculty of Economics
Silvio Daidone, University of York (UK) - Centre for Health Economics
Giuseppe Ilardi, affiliation not provided to SSRN
Giorgia Marini, Centre for Economic and International Studies, University of Rome Tor Vergata | |
CEIS: CENTRE FOR ECONOMIC & INTERNATIONAL STUDIES
Luigi Paganetto - President, Pasquale Lucio Scandizzo - Director "The Sustainability of Monetary Unions - Can the Euro Survive?" 
CEIS Working Paper No. 226 PAOLO CANOFARI, affiliation not provided to SSRN
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GIANCARLO MARINI, University of Rome II - Faculty of Economics
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GIOVANNI PIERSANTI, University of Rome II - Department of Economics and Law
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This paper aims to propose a new measure of exchange market pressure for countries operating in hard peg regimes, such as currency unions, currency boards or full dollarization. We use a general model of currency crisis to derive a sustainability index based upon the relationship between the shadow exchange rate and the output gap required to maintain the currency peg. We apply the new index to European Union countries in order to assess the sustainability of the Euro. "Structural Reforms and the Potential Effects on the Italian Economy"
CEIS Working Paper No. 227 BARBARA ANNICCHIARICO, University of Rome II - Department of Economics and Law
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FABIO DI DIO, Consip S.p.a.
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FRANCESCO FELICI, Government of the Italian Republic (Italy) - Ministry of Economy and Finance - Department of the Treasury
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Since the second half of 2011, after a period of prolonged low growth, Italy has found itself at the center of a severe economic crisis. Concerns about the sustainability of its debt burden, along with gloomy growth prospects, have pushed up the cost of government borrowing, exacerbating current economic conditions. At the moment Italy is facing two mounting economic challenges: (i) achieve a rapid fiscal consolidation to restore financial market confidence; (ii) implement structural reforms to strengthen medium-term growth prospects. Using the European Commission's model QUEST III with R&D, adapted to Italy, we quantify the potential effects of a set of interventions inspired to the reform packages currently being undertaken or under discussion and consider different levels of policy effort. Results show that reforms are likely to bring about sizable gains in output, consumption, employment and net foreign assets position and that most of these gains derive from labor market reforms. However, the fiscal austerity plan is likely to severely mitigate the positive effects of the interventions, especially during the earlier phases of the reform process. Most of these losses accrue to liquidity-constraint households who would experience a drop in consumption. "Cost-Containment Policies and Hospital Efficiency: Evidence from a Panel of Italian Hospitals"
CEIS Working Paper No. 228 VINCENZO ATELLA, University of Rome II - Faculty of Economics
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FEDERICO BELOTTI, University of Rome II - Faculty of Economics
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SILVIO DAIDONE, University of York (UK) - Centre for Health Economics
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GIUSEPPE ILARDI, affiliation not provided to SSRN
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GIORGIA MARINI, Centre for Economic and International Studies, University of Rome Tor Vergata
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The main objective of this article is to evaluate to which extent the set of national and regional cost control policies implemented in recent years in Italy have affected hospital activity. Our contribution is mainly empirical as we focus our attention on the impact that policies like hospital mergers and regional bailout plans had on inefficiency. We use a rich longitudinal sample of Italian hospitals over the period 1999-2007 and perform a Bayesian analysis of the random-efffects stochastic frontier model proposed by Greene (2005), allowing for a one-step estimation of both production frontier parameters and inefficiency effects. Results show that hospital inefficiency has changed over time and that part of this change could be ascribed to the mentioned policies. | | ^top
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