Recursos de colección

AMS Acta (11.050 recursos)

Repository of the University of Bologna.

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  1. Distribution Free Estimation of Spatial Autoregressive Binary Choice Panel Data Models

    Arduini, Tiziano
    This paper proposes a semiparametric estimator for spatial autoregressive (SAR) binary choice models in the context of panel data with fixed effects. The estimation procedure is based on the observational equivalence between distribution free models with a conditional median restriction and parametric models (such as Logit/Probit) exhibiting (multiplicative) heteroskedasticity and autocorrelation. Without imposing any parametric structure on the error terms, we consider the semiparametric nonlinear least squares (NLLS) estimator for this model and analyze its asymptotic properties under spatial near-epoch dependence. The main advantage of our method over the existing estimators is that it consistently estimates choice probabilities. The finite-dimensional estimator...

  2. Distribution Free Estimation of Spatial Autoregressive Binary Choice Panel Data Models

    Arduini, Tiziano
    This paper proposes a semiparametric estimator for spatial autoregressive (SAR) binary choice models in the context of panel data with fixed effects. The estimation procedure is based on the observational equivalence between distribution free models with a conditional median restriction and parametric models (such as Logit/Probit) exhibiting (multiplicative) heteroskedasticity and autocorrelation. Without imposing any parametric structure on the error terms, we consider the semiparametric nonlinear least squares (NLLS) estimator for this model and analyze its asymptotic properties under spatial near-epoch dependence. The main advantage of our method over the existing estimators is that it consistently estimates choice probabilities. The finite-dimensional estimator...

  3. Informed Principals in the Credit Market when Borrowers and Lenders Are Heterogeneous

    Barigozzi, Francesca; Tedeschi, Piero
    Both borrowers and lenders can be socially responsible (SR). Ethical banks commit to financing only ethical projects, which have social profitability but lower expected revenues than standard projects. Instead, no credible commitment exists for SR borrowers. The matching between SR borrowers and ethical banks reduces the frictions caused by moral hazard. However, when the type of the borrowers is not observable, then standard borrowers have incentives to invest in ethical projects pretending to be SR. We show that the separation of borrowers entails costs that are paid by SR entrepreneurs but are relatively low because standard lenders offer an outside...

  4. Informed Principals in the Credit Market when Borrowers and Lenders Are Heterogeneous

    Barigozzi, Francesca; Tedeschi, Piero
    Both borrowers and lenders can be socially responsible (SR). Ethical banks commit to financing only ethical projects, which have social profitability but lower expected revenues than standard projects. Instead, no credible commitment exists for SR borrowers. The matching between SR borrowers and ethical banks reduces the frictions caused by moral hazard. However, when the type of the borrowers is not observable, then standard borrowers have incentives to invest in ethical projects pretending to be SR. We show that the separation of borrowers entails costs that are paid by SR entrepreneurs but are relatively low because standard lenders offer an outside...

  5. Worker Flows and Labour Market Adjustment during the Great Recession: Evidence from a Large Shock

    Lehmann, Hartmut; Razzolini, Tiziano; Zaiceva, Anzelika
    This paper analyzes how the labor market adjusts to the Great Recession. To this aim, we use the data for Latvia, a country that has experienced one of the most severe recessions in Europe and a subsequent remarkable recovery. Employing longitudinal EU SILC data and a panel data set constructed by us from various waves of the Latvian Labour Force Survey (LLFS), we estimate worker transitions between labor market states. Labor market adjustment takes place predominantly at the extensive margin since it is driven by flows from permanent wage employment to unemployment. We also show that older, non-Latvian and above all less skilled workers are...

  6. Worker Flows and Labour Market Adjustment during the Great Recession: Evidence from a Large Shock

    Lehmann, Hartmut; Razzolini, Tiziano; Zaiceva, Anzelika
    This paper analyzes how the labor market adjusts to the Great Recession. To this aim, we use the data for Latvia, a country that has experienced one of the most severe recessions in Europe and a subsequent remarkable recovery. Employing longitudinal EU SILC data and a panel data set constructed by us from various waves of the Latvian Labour Force Survey (LLFS), we estimate worker transitions between labor market states. Labor market adjustment takes place predominantly at the extensive margin since it is driven by flows from permanent wage employment to unemployment. We also show that older, non-Latvian and above all less skilled workers are...

  7. Optimal Liability Design Under Risk and Ambiguity

    Franzoni, Luigi Alberto
    This paper develops an original mean-variance model able to capture the disposition of the parties towards both standard risk and ambiguity. Ambiguity arises when the causal link between conduct and harm is not univocal, as is frequently the case with toxic torts. Risk aversion and ambiguity aversion tend to have a similar impact on optimal liability rules if greater care reduces the ambiguity perceived by the parties, i.e. if safety and predictability go hand in hand. Strict liability dominates negligence when the injurer has lower degrees of risk and ambiguity aversion than the victim and can formulate less ambiguous estimates...

  8. Optimal Liability Design Under Risk and Ambiguity

    Franzoni, Luigi Alberto
    This paper develops an original mean-variance model able to capture the disposition of the parties towards both standard risk and ambiguity. Ambiguity arises when the causal link between conduct and harm is not univocal, as is frequently the case with toxic torts. Risk aversion and ambiguity aversion tend to have a similar impact on optimal liability rules if greater care reduces the ambiguity perceived by the parties, i.e. if safety and predictability go hand in hand. Strict liability dominates negligence when the injurer has lower degrees of risk and ambiguity aversion than the victim and can formulate less ambiguous estimates...

  9. Scritti scelti (Economia Politica e Scienza delle Finanze)

    Luciani, Nino
    Si consiglia di salvare il Documento PDF sul proprio pc in caso di attesa prolungata nell'apertura del file

  10. Scritti scelti (Economia Politica e Scienza delle Finanze)

    Luciani, Nino
    Si consiglia di salvare il Documento PDF sul proprio pc in caso di attesa prolungata nell'apertura del file

  11. Butō. Prospettive europee e sguardi dal Giappone


    Il butō, prima ancora di definire il proprio nome, ha profondamente scosso la scena giapponese degli anni ‘50 qualificandosi come un’eresia in grado di sovvertire le norme teatrali sedimentate. Lungo percorsi palesi e sotterranei, in uno stretto groviglio la cui origine non è facilmente collocabile nel tempo e nello spazio, il butō giunge in Europa sul finire degli anni ‘70 preludendo alla folgorante apparizione di Ōno Kazuo al Festival di Nancy del 1980. Il volume, nell’omaggiare il Maestro che assieme a Hijikata Tatsumi ha indelebilmente segnato la fisionomia di questa rivolta danzata, restituisce uno sguardo aggiornato sulla presenza, l’assimilazione e le...

  12. Butō. Prospettive europee e sguardi dal Giappone


    Il butō, prima ancora di definire il proprio nome, ha profondamente scosso la scena giapponese degli anni ‘50 qualificandosi come un’eresia in grado di sovvertire le norme teatrali sedimentate. Lungo percorsi palesi e sotterranei, in uno stretto groviglio la cui origine non è facilmente collocabile nel tempo e nello spazio, il butō giunge in Europa sul finire degli anni ‘70 preludendo alla folgorante apparizione di Ōno Kazuo al Festival di Nancy del 1980. Il volume, nell’omaggiare il Maestro che assieme a Hijikata Tatsumi ha indelebilmente segnato la fisionomia di questa rivolta danzata, restituisce uno sguardo aggiornato sulla presenza, l’assimilazione e le...

  13. Danzare il Nāṭya. Permanenze e trasformazioni del teatro-danza indiano


    Danzare il Nāṭya è l’esito di un lavoro collettivo attorno ad una categoria teatrale, il Nāṭya appunto, generata dalla sapienza dell’India antica ma ancora oggi valida e necessaria a comprenderne la storia e gli sviluppi scenici. È, insomma, un tentativo volto ad articolare un discorso polifonico e al contempo unitario e rizomatico, ossia capace di evidenziare le interconnessioni a più livelli tra il Nāṭya e la cultura – non solo scenica – che lo significa. Interrogando il Nāṭya gli autori del volume hanno voluto tracciarne l’attuale panorama esplorandone le connessioni e le frizioni tra la dimensione tradizionale e la contemporaneità....

  14. Danzare il Nāṭya. Permanenze e trasformazioni del teatro-danza indiano


    Danzare il Nāṭya è l’esito di un lavoro collettivo attorno ad una categoria teatrale, il Nāṭya appunto, generata dalla sapienza dell’India antica ma ancora oggi valida e necessaria a comprenderne la storia e gli sviluppi scenici. È, insomma, un tentativo volto ad articolare un discorso polifonico e al contempo unitario e rizomatico, ossia capace di evidenziare le interconnessioni a più livelli tra il Nāṭya e la cultura – non solo scenica – che lo significa. Interrogando il Nāṭya gli autori del volume hanno voluto tracciarne l’attuale panorama esplorandone le connessioni e le frizioni tra la dimensione tradizionale e la contemporaneità....

  15. Exploring Functional Grammar. 2° Edition

    Lipson, Maxine
    This volume, Exploring Functional Grammar. 2° Edition, the second of the first three e-books of a new series entitled, Functional Grammar Studies for Non-Native Speakers of English, which is contained within the superordinate: Quaderni del Centro di Studi Linguistico-Culturali (CeSLiC), a research center in the Department of Modern Foreign Languages of the University of Bologna. The series proposes a metalinguistic description of English grammar in a functional, socio-semiotic perspective and is proving to be an effective teaching/learning resource for improving English literacy outcomes in the L2 pedagogic setting. The principal ‘consumers’ of the series are the students of the English...

  16. Exploring Functional Grammar. 2° Edition

    Lipson, Maxine
    This volume, Exploring Functional Grammar. 2° Edition, the second of the first three e-books of a new series entitled, Functional Grammar Studies for Non-Native Speakers of English, which is contained within the superordinate: Quaderni del Centro di Studi Linguistico-Culturali (CeSLiC), a research center in the Department of Modern Foreign Languages of the University of Bologna. The series proposes a metalinguistic description of English grammar in a functional, socio-semiotic perspective and is proving to be an effective teaching/learning resource for improving English literacy outcomes in the L2 pedagogic setting. The principal ‘consumers’ of the series are the students of the English...

  17. Exploring Functional Grammar

    Lipson, Maxine
    This volume, Exploring Functional Grammar, is the second of the first three e-books of a new series entitled, Functional Grammar Studies for Non-Native Speakers of English, which is contained within the superordinate: Quaderni del Centro di Studi Linguistico-Culturali (CeSLiC), a research center in the Department of Modern Foreign Languages of the University of Bologna. The series proposes a metalinguistic description of English grammar in a functional, socio-semiotic perspective and is proving to be an effective teaching/learning resource for improving English literacy outcomes in the L2 pedagogic setting. The principal ‘consumers’ of the series are the students of the English Language...

  18. Exploring Functional Grammar

    Lipson, Maxine
    This volume, Exploring Functional Grammar, is the second of the first three e-books of a new series entitled, Functional Grammar Studies for Non-Native Speakers of English, which is contained within the superordinate: Quaderni del Centro di Studi Linguistico-Culturali (CeSLiC), a research center in the Department of Modern Foreign Languages of the University of Bologna. The series proposes a metalinguistic description of English grammar in a functional, socio-semiotic perspective and is proving to be an effective teaching/learning resource for improving English literacy outcomes in the L2 pedagogic setting. The principal ‘consumers’ of the series are the students of the English Language...

  19. Language as purposeful: functional varieties of texts

    Miller, Donna R.; Maiorani, A.; Turci, M.
    This volume, "Language as Purposeful: Functional Varieties of Texts", is the third of the first three e-books of a new series entitled, "Functional Grammar Studies for Non-Native Speakers of English", which is contained within the superordinate: "Quaderni del Centro di Studi Linguistico-Culturali (CeSLiC)", a research center in the Department of Modern Foreign Languages of the University of Bologna. The series proposes a metalinguistic description of English grammar in a functional, socio-semiotic perspective and is proving to be an effective teaching/learning resource for improving English literacy in the L2 pedagogic setting. The principal ‘consumers’ of the series are the students of...

  20. Language as purposeful: functional varieties of texts

    Miller, Donna R.; Maiorani, A.; Turci, M.
    This volume, "Language as Purposeful: Functional Varieties of Texts", is the third of the first three e-books of a new series entitled, "Functional Grammar Studies for Non-Native Speakers of English", which is contained within the superordinate: "Quaderni del Centro di Studi Linguistico-Culturali (CeSLiC)", a research center in the Department of Modern Foreign Languages of the University of Bologna. The series proposes a metalinguistic description of English grammar in a functional, socio-semiotic perspective and is proving to be an effective teaching/learning resource for improving English literacy in the L2 pedagogic setting. The principal ‘consumers’ of the series are the students of...

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