Trend Inflation, Wage Indexation, and Determinacy in the U.S.

We combine an estimated monetary policy rule featuring time-varying trend inflation and stochastic coefficients with a medium scale New Keynesian framework calibrated on the U.S. economy. We find the impact of variations in trend inflation on the likelihood of equilibrium determinacy to be both modest and limited to the second half of the 1970s. In contrast, our counterfactual exercises suggest that the change in the Federal Reserve's policy response to inflation is likely to have been the main driver leading the U.S. economy to a unique equilibrium during the Great Moderation. We highlight the impact of wage indexation on policymakers' ability to induce economic stability, and provide fresh evidence on the relationship between trend inflation, wage indexation and determinacy in the post-WWII U.S. economic environment. Further simulations show that rising the Federal Reserve's inflation target to four percent would be consistent with equilibrium uniqueness conditional on a policy as the one estimated on the U.S. post-1982 sample period.Monetary Policy, Trend Inflation, Great Moderation, Determinacy, Wage indexation.

Chapter «Quel nome pernicioso di nobile»: Uberto Foglietta e la nobiltà di Genova fra tardo medioevo e prima età moderna

The present contribution aims at discussing the many late medieval and early modern interpretations elaborated in urban and (post)communal Italy on nobility. It does so by attentively analysing the first book of the La Repubblica di Genova, written around 1550 by Uberto Foglietta, a Genoese patrician and a future historian of the city. Foglietta’s libello therefore is a good starting point to reinterpret the vexata quaestio of being noble both in 16th century Genoa, and in the broader context of Renaissance Italian urban culture

Bons nobles, mauvais nobles, nobles marchands ?

Bien que d’origine lombarde, et donc barbare, au milieu du XIIe siècle les habitants de la Lombardie conservent l’élégance de la langue ainsi que l’urbanité propres aux mœurs d’ascendance romaine. […] Nous savons que, parmi eux, se trouvent trois ordres, celui des capitanei, celui des vavasseurs, celui du peuple ; pour éviter toute arrogance et réprimer tout orgueil, leurs consuls sont élus et choisis non pas au sein d’un seul ordre, mais bien dans tous les trois ; en outre, pour éviter que n..

L’autorappresentazione dei signori rurali (secoli XIV-XV): spunti di riflessione

ITALIANO. È possibile parlare, nell’Italia del XIV-XV secolo, di modelli di autorappresentazione caratte- ristici dei signori rurali? Sono modelli comuni all’insieme della Penisola, dalle Alpi alla Sicilia? Quali sono le loro principali caratteristiche e i loro canali privilegiati di trasmissione? Che relazioni hanno con saperi cittadino-comunali da un lato, e le culture principesche dall’altro? Per rispondere a questi interrogativi, il saggio esamina il ricorso a una cultura cortese condivisa, la puntigliosa attenzione alla celebrazione genealogica, la committenza e l’intraprendenza culturale dei signori e la crescita di un loro diretto dinamismo intellettuale, terminando con la rinnovata importanza del castello nell’autorappresentazione culturale e sociale dei signori quattrocenteschi. / ENGLISH: Is it possible to identify models of self-representation characteristic of rural lords in 14th-15th century Italy? Are these models common to the whole of the Peninsula, from the Alps to Sicily? What are their main features and their privileged channels of transmission? What relations do they have with the city-communal world on one hand, and princely cultures on the other? In order to answer these questions, the essay examines the use of a shared courtly culture, the importance of genealogical celebrations, the patronage and cultural enterprise of the lords and the growth of their direct intellectual dynamism, ending with the renewed importance of the castle in the cultural and social self-representation of the 15th-century lords

Chris Wickham, Sleepwalking into a New World. The Emergence of Italian City Communes in the Twelfth Century

L’un des plus remarquables médiévistes anglo-saxons d’aujourd’hui, Chris Wickham, spécialiste confirmé du haut Moyen Âge et de ses dynamiques européennes ainsi que de l’histoire judiciaire de l’Italie des viiie-xiie s., nous livre ici un essai qui d’ores et déjà fait date, que l’on pense à sa traduction italienne, Sonnambuli verso un nuovo mondo (Rome, Viella [La storia, 56], 2017). Son but premier : réfléchir aux raisons, aux protagonistes et aux enjeux du premier essor de ce que l’on a cout..

Les humanistes et la question nobiliaire au milieu du XVe siècle

Entre 1439 et 1440, Pogge Bracciolini, le grand humaniste florentin, écrivit un traité entièrement consacré à la question de la noblesse dans un contexte éminemment urbain. Ce dialogue, intitulé De vera nobilitate, au succès retentissant contient un questionnaire passant en revue les principaux critères de noblesse, tant en Italie qu’en Europe. L’on nous présente, alors, une géographie politique renouvelée par rapport aux repères communaux habituels. Il ne s’agit plus des seules cités du centre et du nord de la péninsule, mais bien d’une série d’États régionaux qui couvrent presque toute l’Italie avant même que de franchir les Alpes. À partir des éléments fournis par le Pogge, cette communication s’évertue à reconstituer l’état des lieux du débat au milieu du Quattrocento en Italie.Between 1439 and 1440, Pogge Bracciolini - the grand Florentine humanist – wrote a treaty entirely devoted to the nobility in an eminently urban context. This dialog, named De vera nobilitate, whose obtained a resounding success, contains a questionnaire reviewing the principal criterions for nobility, much as in Italia as in Europe. By then, a renewed political geography in relation to usual communal marks is presented to our eyes. The cities from the center and the north of the peninsula are not even more only concerned but a block of regional states covering almost all Italy, even before crossing the Alps, got more attention to us. From elements provided by the Pogge, this communication tries his best to recreate the inventory of the nobiliary debate in Italy during the Quattrocento.Fra il 1439 e il 1440 Poggio Bracciolini scrisse un trattato interamente dedicato al tema della nobiltà. Il De vera nobilitate diventò immediatemente il fulcro di un rinnovato dibattito nobiliare, almeno in Italia. Esso contiene un questionario che discute i principali criteri nobiliari in Italia e in Europa. Viene così presentata una geografia politica rinnovata rispetto alle precedenti abitudini dei dibattiti comunali sulla nobiltà. Non vi si parla, infatti, delle sole città del Centro e del Nord della Penisola, bensì di una serie di stati regionali finendo anche col valicare le Alpi. Proprio partendo dagli elementi presentatici da Poggio Bracciolini, questo intervento tende a ricostruire lo status quaestionis del dibattito nobiliare nell’Italia della metà del Quattrocento

Éditions Universitaires d\u27Avignon rapport d’activité 2017

Rapport d\u27activité des Editions Universitaires d\u27Avignon pour l\u27année 2017

Cognitive estimation in non-demented Parkinson's disease

Objective: The Cognitive Estimation Test (CET) is widely used in clinical and research settings to assess the ability to produce reasonable estimates to items that individuals would not know that the exact answer (e.g., "How fast do race horses run?"). We examined the performance of non-demented Parkinson's disease (PD) patients on the CET, because previous studies reported heterogeneous results about possible cognitive estimation impairments in PD. We also examined whether PD patients improve their performance if given the chance to reconsider their initial CET responses. Methods: Thirty non-demented idiopathic PD patients and 30 healthy controls matched in age, gender and years of education performed the two parallel forms of Italian CET. The estimation scores for initial and final responses as well as the number of times individuals changed their answers were examined. Additional neuropsychological tests, evaluating intellectual, frontal executive, speed of processing, naming and arithmetical abilities, were also administered. Results: The PD group were not significantly poorer than healthy controls at estimating the answers to items on either CET versions. Moreover, PD patients did not significantly differ in their initial and final responses or number of response changes. Performance on the CET was significantly related to performance on a global measure of executive function, processing speed and arithmetic. However, PD patients were impaired compared to controls on the component involving mainly, but not exclusively, length-related estimations. Conclusions: Non-demented PD patients have mild impairments in cognitive estimation ability, which may depend on the estimations they are required to provide