In recent years the Italian authorities have introduced tax incentives and administrative simplifications to reduce the overall cost of IPOs, to incentivize bond issues and to stimulate investment in innovative startups. The legislation on ACE (allowance for corporate equity) is helping to improve firms’ capitalization levels.
3 See, for example, Kahn (2010); Oreopoulos, Von Wachter, and Heisz (2012); and Altonji, Kahn, and Speer (2016). 4 For recent estimates of the college earnings premium over time, see Pew Research (2014) and Council of Economic Advisers (2016). For a discussion of some nonpecuniary benefits of completing college, see Oreopoulos and Salvanes (2011). -3with others.