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Le determinanti del tasso di sconto in Italia negli anni 1876-1913: un'analisi empirica e documentale


  • Franco Spinelli
  • Carmine Trecroci


L’analisi dell’andamento del tasso di sconto italiano durante il Gold Standard è molto scarna. Questo lavoro comincia a rimediare al problema sia stimando alcuni semplici modelli del tasso di sconto con serie storiche a frequenza mensile e annua, sia con un’analisi documentale. Il principale risultato è che il tasso italiano appare dipendere soprattutto dal rapporto interno di liquidità e, limitatamente ai periodi di piena convertibilità della lira, dal tasso di sconto inglese. Le stime confermano inoltre un risultato di precedenti studi non quantitativi, ovvero che le autorità monetarie italiane del tempo fecero un uso della manovra dei tassi molto meno intenso di quello praticato negli altri paesi del sistema aureo.

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  • Franco Spinelli & Carmine Trecroci, "undated". "Le determinanti del tasso di sconto in Italia negli anni 1876-1913: un'analisi empirica e documentale," Working Papers ubs0405, University of Brescia, Department of Economics.
  • Handle: RePEc:ubs:wpaper:ubs0405

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    1. Friedrich Breyer & Andreas Haufler, 2000. "Health Care Reform: Separating Insurance from Income Redistribution," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 7(4), pages 445-461, August.
    2. Izabela Jelovac, 2015. "On the relationship between the negotiated prices of pharmaceuticals and the patients' co-payment," Economics Bulletin, AccessEcon, vol. 35(1), pages 481-493.
    3. Stéphane Jacobzone, 2000. "Pharmaceutical Policies in OECD Countries: Reconciling Social and Industrial Goals," OECD Labour Market and Social Policy Occasional Papers 40, OECD Publishing.
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