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Mostrando recursos 41 - 60 de 1,595
Affirmative Priority Queueing - Sasaki, Dan
Consider a first-come first-served queue where agents arrive randomly but their participation in the queue is voluntary and strategic. This paper shows that the introduction of priority-class discrimination (retaining first-come first-serve within each class) unambiguously improves total welfare even if agents are a priori identical, i.e. agents have a fixed outside reservation utility and their unit cost of waiting (per period) is also homogeneous across agents. Furthermore, when agents have heterogeneous outside reservation utilities, those who have low outside reservation utility should be given high priority in the queue for total welfare improvement, not only for equity.
Standardization and the Stability of Collusion - Lambertini, Luca; Poddar, Sougata; Sasaki, Dan
We characterize the interplay between firms' decision in terms of product standardization and the nature of their ensuing market behaviour. We prove the existence of a non-monotone relationship between firms' decision at the product stage and their intertemporal preferences.
R&S e Competitivita' internazionale nell'industria manifatturiera europea: un'analisi settoriale - Pantiglioni, Barbara; Santarelli, Enrico
The purpose is to explain the relation between the dynamics of R&D expenditures and that of exports in the four largest EU countries: France, Germany, Italy, and United Kingdom. Estimation of a fixed effects (Least Squares Dummy Variable) panel model for manufacturing as a whole and for fourteen (two digit) industries in manufacturing over the 1981-1992 period points out a positive and significant relation between variation in the share of R&D by each of the relevant countries on total R&D by all OECD countries and variation in the share of export by each of the relevant countries on total exports...
Integration and Dis-Integration Across the G-7 Countries - Cellini, Roberto; Scorcu, Antonello
This paper analyzes the stochastic convergence in per capita income levels among the current G-7 over the period 1900-89. We show that, in the presence of possible structural breaks, the strong condition of stationary pair-wise differences between per capita GDP holds in many more cases than generally supposed. However, it occurs more frequently in the first part of the time sample than in the second one.
Fatti stilizzati e metodi econometrici "Moderni": una rivalutazione della Curva di Phillips per l'Italia (1951-1996) - Golinelli, Roberto
A quarant’anni dalla sua introduzione, la curva di Phillips riveste ancora un ruolo importante negli studi applicati, nonostante le critiche cui è stata sottoposta dalla successiva letteratura. In questo lavoro, utilizzando tecniche di modellazione econometrica di serie storiche non stazionarie per l’Italia dal dopoguerra ad oggi, si evidenzia la stabilità di una relazione di lungo periodo fra il tasso di variazione del salario reale e il tasso di disoccupazione; questo risultato è robusto all’uso di stimatori alternativi. Nel breve periodo si propone un modello interpretativo caratterizzato da un meccanismo non lineare di correzione dell’errore.
Fiscal Policy and Growth: a Survey - Marzo, Massimiliano
The lack of convergence of growth rates among the world economies is probably one of the most debated topics in the last few years in theoretical and empirical research. In this period we have observed a strong resurgence of the debate about long-run growth, starting from the initial contributions by Paul Romer (1986) and Robert Lucas (1988) who opened the so called “Endogenous Growth Theory” or “New Growth Theory”. The reason of this resurgence of interest lies in two important aspects left unsolved by the theoretical attempts of the 60s and 70s: first, the need to explain long-run growth determinants...
Poverty Traps and Human Capital Accumulation - Berti Ceroni, Carlotta
In this paper, we analyze the emergence and persistence of poverty traps and study how wide-spread poverty and the unequal distribution of income can slow down the accumulation process and lead to steady-state equilibria characterized by low aggregate output levels. We define poverty as a state deriving from the lack of adequate skills and associate income inequality with the unequal distribution of education attainments. In this context the goal of our contribution is twofold. First, we show that low asymptotic mobility and persistent income inequality can emerge as a consequence of the fact that the poor require relatively higher returns...
Esternalità e sviluppo industriale di lungo periodo in Italia. Un'analisi a livello provinciale - Ciannelli, Giulio; Leoncini, Riccardo
The aim of this paper is to provide, following an approach recently developed by Glaeser et al. (1992), an empirical investigation on the role of dynamic externalities in industrial agglomeration and long-run industrial development. By means of a very large dataset containing information at provincia level for 16 sectors of Italian manufacturing industry covering a thirty year period (1961-1991), geographical specialisation and variety of the local production are investigated, for both Italy and four geographical areas (North-West, North-East, South-East and South-West). It is argued that history matters, that is, initial conditions explain a very large share of industrial agglomeration, but...
Does Monopoly Undersupply Product Quality? - Lambertini, Luca
I investigate the behaviour of a multiproduct monopolist supplying vertically differentiated varieties of the same good. The discretemodel adopted here allows to obtain a continuous model when, in the limit, the number of varieties becomes infinitely large. The main finding establishes that the tendency on the part of the monopolist to undersupply all qualities but the top one can take two alternative forms, i.e., either qualities correspond to the socially optimal ones but the allocation of consumers across qualities is distorted by the price schedule, or qualities are indeed lower than those supplied under social planning. The first case arises...
Efficienza tecnica e produzione ospedaliera: una valutazione con Data Envelopment Analysis delle prestazioni ospedaliere nel periodo della riforma - Fabbri, Daniele
In questi ultimi anni il Sistema Sanitario Nazionale è stato sottoposto ad un sostanziale processo
di trasformazione e di riforma. Uno fra gli ambiti più investiti dalle trasformazioni in atto è
certamente quello della produzione di servizi ospedalieri. Nel quadro istituzionale che si va
delineando i produttori vengono sempre più responsabilizzati a perseguire strategie di
razionalizzazione nell’uso delle risorse e di razionamento della domanda. E’ in questo contesto
che il miglioramento dell’efficienza produttiva assume il valore di obiettivo prioritario. In questo
studio ci concentriamo sulla componente tecnica dell’efficienza nella produzione ospedaliera al
fine di valutare se e in quale misura le recenti riforme abbiano contribuito ad accrescerla.
Aggregazione contemporanea e specificazione econometrica nella stima trimestrale dei conti economici nazionali - Lupi, Claudio; Cianelli, Giulio
La stima trimestrale dei conti economici nazionali consente di fornire un quadro coerente dell’evoluzione dell’economia. In molti Paesi europei l’elaborazione di queste stime si fonda su metodologie indirette che fanno uso di indicatori di riferimento per la valutazione della dinamica infrannuale dei fenomeni in esame. In questo lavoro si offre una nuova chiave di lettura di alcuni metodi di stima e si esaminano i criteri di scelta tra indicatori alternativi, il corretto utilizzo degli indicatori stessi e il livello di aggregazione contemporanea al quale effettuare le stime. Si propone utilizzo più esteso di test di specificazione econometrica nell’ambito delle procedure...
Endogenous choice of capacity and product innovation in a differential duopoly - Lambertini, Luca; Rossini, Giampaolo
We model a symmetric duopoly where firms choose whether to be quantity setters or price setters by deciding the optimal capacity; undertake R&D activity to determine the degree of differentiation; and finally compete in the market. Two games are proposed, where investment decisions follow different sequences. We assess price and quantity decisions, finding a set of equilibria where the choice of the market variable is affected by both technological commitments. As a result, the acquired wisdom that quantity setting is a dominant strategy for firms, while price setting is a dominant strategy from a social standpoint, may not be confirmed.
Evasione fiscale delle imprese - Etro, Federico Gabriele
Theory of tax evasion is reviewed. The Marrelli approach is studied in a more general environment. Indirect tax evasion by firms is extended to the general case of oligopolic markets with a conjectural variations model and either a price discrimination model, considering both ad valorem and specific taxation. From the normative point of view, cut-off rules of tax enforcement are studied and modified inverse elasticity rules for optimal taxation are derived and shown to depend on the level of distortion on the supply side, i.e. on firms` collusion, shifting and tax evasion decisions.
La competizione invisibile - Poma, Lucio
La produzione “fisica” di un bene è il risultato finale di un contesto istituzionale nel quale scorre la conoscenza. Nelle fasi economiche caratterizzate da una diffusa certezza strutturale si procede principalmente mediante l’utilizzo di conoscenza codificata mentre tale contesto istituzionale rimane, invisibile, sullo sfondo. Invece, nell’attuale fase economica d’incertezza strutturale il contesto istituzionale – la componente invisibile - tende ad emergere ed affermarsi come maggiore forza. La nuova competizione globale ha nella produzione di conoscenza – in particolare quella tacita – il proprio momento strategico. Le nuove tecnologie dell’informazione e della comunicazione ed il cyberspazio si pongono come gli “strumenti...
R&D Embodied Technological Change, Producers - Users Interaction, and Productivity at the Firm Level: A Germany-Italy Comparison - Santareli, Enrico; Lotti, Francesca
This paper follows a knowledge production function approach to assess the contribution of R&D spending, the purchase of new machinery, and producers-users interaction to the productivity performance of German and Italian firms in manufacturing. For this purpose it employs micro-aggregated data from the First Community Innovation Survey. The regression analysis confirms the results of previous studies that technological change embodied in new machinery and capital equipment is a major factor affecting the productivity level of manufacturing firms in most industries (in particular in Italy), although the role of R&D activities is crucial for most firms in both countries, and that...
Testing for Structural Change in Cointegrated Relationships. Analysis of price-wages models for Poland and Hungary - Golinelli, Roberto; Orsi, Renzo
In previous studies concerning short and long run relationships for price-wage models, the cointegration analysis has been developed assuming the existence of a unique cointegration parametrisation. These empirical results reveal the presence of significant relationships, both in the short and in the long run, among prices, wages, labour productivity and exchange rate. In this paper we intend to develop the possibility of a more general type of cointegration, allowing for a change at an unknown time period in the sample. At this end we will consider mainly the long run relationship among these variables using the testing procedure suggested by...
Information Production, Banking Industry Structure and Credit Allocation - Chiesa, Gabriella
Does the removal of intra-state entry barriers increase welfare? Will all banks survive? Will it lead to a consolidation of the banking industry? The experience of credit market deregulation has not been always successful. Credit market liberalisation, via the removal of entry barriers, of limitations of activity and of markets for funding is generally recognised at the origin of banking crises like the American Savings & Loans, the Scandinavian countries’ banking crises at the end of the 80’s, the Japanese crises not yet resolved and more recently and on a large scale the East-Asian countries. However there are doubts about...
Equilibrium Locations in A Spatial Model With Sequential Entry in Real Time - Lambertini, Luca
I describe the entry process in a spatial market over an infinite time horizon. I show that, as long as the strategy space at the location stage is unbounded, the results derived from the single-period Stackelberg model of entry coincide with those obtained in the infinite horizon model. On the contrary, if the strategy space is bounded, then the later the follower enters, the closer to the center of the market the leader locates at the initial date.
Patents and the Geographic Localization of R&D Spillovers in French Manufacturing - Santarelli, Enrico; Piergiovanni, Roberta
This paper adopts a “geography of innovation” approach to test for France the hypothesis that patent activity within each administrative region is related to corporate expenditures in R&D in that territory, as well as research expenditures undertaken in universities located in the same area. It emerges that French manufacturing firms (both private and state-owned) benefit significantly from knowledge produced within the geographical area in which they are located, although the coefficient estimated for the university R&D variable is equally significant but higher than that for the industry R&D one. At the regional level, university research therefore turns out to be...
Network Analysis of Eight Technological Systems - Leoncini, Riccardo; Montresor, S.
The systemic nature of technological change is now a well established result of much literature, of both theoretical (e.g. Carlsson & Stankiewicz, 1991; Lundvall, 1992; De Liso & Metcalfe, 1996; Edquist, 1997) and empirical (e.g. Nelson, 1993; Patel & Pavitt, 1994; Saxenian, 1994; Carlsson, 1995) nature. As the innovative process does not follow a ‘linear’, isolated path, but occurs within specific institutional contexts of interactive relationships between different organisations, concepts such as those of innovative and technological systems appear to be the most appropriate units of analysis. However, several specifications have been provided, by referring to both functional and geographical...