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AMS Acta (10,609 recursos)

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  1. Collective Action, Strategic Behaviour and Endogenous Growth

    Bianchi, P.; Miller, L.
    This paper is devoted to exploring the social dynamics of economic behaviour specifically how to encourage endogenous growth. Innovation, the key to successful competition, and therefore growth, must be futher understood. The tecnological aspects of innovation are important, but their presence does not always result in innovation. It will be argued that the organization of the collective is the key to the establishment of the social mechanisms necessary to incorporate change without threatening the system as a whole. The paper concludes with a discussion of policy implications.

  2. Stackelberg equilibria and horizontal differentiation

    Lambertini, Luca
    This paper proposes a taxonomy of the Stackelberg equilibria emerging from a standard game of horizontal differentiation à la Hotelling in which the strategy set of the sellers in the location stage is the real axis. Repeated leadership appears the most advantageous position. Furthermore, this endogenously yields vertical differentiation between products at equilibrium.

  3. Vertical Product Differentiation; Some More General Results

    Lambertini, Luca
    In this note, it is shown the “rule” obtained by Choi and Shin (1992) can be derived as the asymptotic result of a more general model in which costs are convex with respect to quality. General solutions to a wider class of verically differentiated duopoly are also given.

  4. Private and Public Pensions Schemes: A Case of Vertical Segmentation

    Mazzaferro, Carlo
    This work develops an overlapping generations model in order to analyze a transition to a partial privatization of the social security system. We find that such a reform induces a vertical segmentation in the market of pension schemes. Moreover the redistributive aim of the government is limited by the possibility to switch from the private to the public pension scheme.

  5. On the Dichotomy between Horizontal and Vertical Product Differentiation

    Lambertini, Luca
    In this paper, we show that, contrarily to the conclusions obtained by Cremer and Thisse (1991), the equilibrium emerging from a model of vertical product differentiation does not yield maximum differentiation because of the strtegic complementarity between products in the quality space.

  6. An Evolutionary Dynamic Approach to Altruism

    Zamagni, Stefano; Sacco, Pier Luigi
    After reviewing recent and less recent literature on altruism and selfishness, the paper discusses in detail the isuue of the relevance og altuistic motivations, as opposed to self-interest, in a well grounded theory of rational choice. The main point is that a proper dynamical analysis of the allocative consequences of altruism must focus not only the actual level of altruism that characterizes the economy, but also on the types, keeping in mind that the time evolution of the stock types across the population, It is shown that the model here presented can be used to interpret altruistically – driven phenomena...

  7. Credible Transitions in Eastern Europe: a Perspective from the Theory of Traverse and Systemic Change

    Zamagni, Stefano
    The best way to think of the transition from a centrally planned to a market economy is as a traverse from one growth path to another. However, question of traverse are as yet relatively understudied as are issues of disequilibrium dynamics of a market or a planned system. The economics of transition currently in process cuts across issues of traverse and of disequilibrium (as evidenced by excess demand, repressed inflation, excess liquid balances) to a market economy characterised by an eventual equilibrium. The paper suggests how economic theory can tentatively cope with the formidable difficulty of this task. Moreover, the...

  8. Sull'uso dei test in econometria

    Orsi, Renzo
    Si presentano le diverse utilizzazioni dei test in econometria e si considerano le critiche che ad essi vengono rivolte, in particolare con riguardo alle proprietà statiche di tali procedure. Viene precisato il concetto di replicazione in econometria, cercando di motivare perchè esso non venga utilizzato nei lavori di econometria applicata. Vengono precisate le relazioni esistenti tra la teoria economica e i dati empirici, in considerazione del fatto che la prima non si applica direttamente ai dati ma tra essa e i secondi si colloca il modello empirico. Al fine di tenere conto della natura non sperimentale dei dati economici viene...

  9. Debt restructuring with Multiple Creditors: A Public Good Approach

    Detragiache, Enrica; Garella, Paolo G.
    This paper studies the restructuring of non-marketable debt, when the number of creditors is arbitrary, and there is asymmetric information. With multiple creditors, debt forgiveness has the character of a public good. As for the case of private provision of a public good, mechanism design methods allow to shows that debt restructuring is not generally ex-post efficient (liquidation occurs too often). We also derive an indirect mechanism, in which equity offers to exchange old debt for new claims of lowerface value, and creditors choose how much to tender. This mechanism can replicate the optimal restructuring scherme. Finally by means of...

  10. Technological Innovation and Diffusion, Fluctuations and Growth (I): Modeling Technological Change and Productivity Growth

    Ardeni, Pier Giorgio; Gallegati, Mauro
    In this work we study the relation between investment in R&D, the technological innovation, diffusion, fluctuations and growth of output. Technological innovation is the result of a process (investment in R&D) whose final outcome is fundamentally uncertain. We model innovation as a Polya urn scheme, where the probabilityof an individual success increaseas with the number of (previous) successes. We also model technological diffusion as an epidemic birth-and-death stochastic process, tipically a non-linear process. The diffusion of a new technology is to a degree intrinsically stochastic: it depends on aggregate feedbacks (global environment) as well as on local feedbacks (imitation) or...

  11. Technological Innovation and Diffusion, Fluctuations and Growth (II): Deterministic and Stochastic Laws of Motion

    Ardeni, Pier Giorgio; Gallegati, Mauro
    In the following Part II the deterministic and stochastic laws of motion arising from the processes depicted in Part I (particulary Section 2), are analyzed in detail. In section 4 we study the typical non-linear logistic model emerging as the deterministic equivalent of the diffusion processes of Sections 2.3 and 2.4. The interaction of firm size and firm number are also studied within the same Section. In Section 5 we analyze the (asymptotic) stochastic laws of motion of the system. In particular, we study the Langevin equation and the approximations of the Fokker-Planck equations equivalent of the master equations of...

  12. Endogenous Choice Between Horizontal and Vertical Product Differentiation

    Lambertini, Luca
    The endogenous choice between two alternative kinds of product differentiation is addressed in a duopoly model where firms are free to locate along the real axis, while consumers are distributed along a linear city of finite length. It turns out that the nature of differentiation may be heavily affected by the sequence of decisions. If firms simultaneously choose first locations and then prices, product differentiation at equilibrium is horizontal. If instead one firm acts as a Stackelberg leader in both stages, product differentiation at equilibrium is vertical.

  13. Vertical Differentiation and Import Reducing Tariff

    Lambertini, Luca; Rossini, Gianpaolo
    Two monopolists operate in two countries which differ only for their per capita income. Each firm sells a single product which is vertically differentiated. If trade opens, the firm operating in the poorer country starts to export to the richer. This might induce the government of the richer country to set an import reducing tariff that could, under certain conditions, benefit also the firm of the poorer country.

  14. Delegation and Product Differentiation

    Lambertini, Luca
    The effects of the delegation of control to managers are investigated in a duopolistic market for differentiated goods. It appears that delegation is profitable to shareholders under Cournot competiton, provided that the rival firm maximizes profit.

  15. Un'ipotesi di Real Business Cycle per l'economia italiana

    Censolo, Roberto; Onofri, Paolo
    Il filone di studi relativo ai modelli di ciclo in equilibrio è comparso agli inizi degli anni settanta recuperando contributi pre-keynesiani (Frisch(33)) all'interno del dibattito sulla "curva di Phillips" e sul tasso naturale di disoccupazione. Come è noto la questione si è sviluppata attorno alla dicotomia tra breve e lungo periodo nel legame tra grandezze reali e nominali. Da un lato, la correlazione pro-ciclica tra prodotto reale e prezzi può essere ricavata da una curva di offerta inclinata positivamente, dall'altro, l'assenza di illusione monetaria da parte di imprese e consumatori implica invece una curva di offerta verticale.

  16. Decision Making Processes Under Uncertainty: An Econometric Analysis

    Zagonari, Fabio
    This paper utilizes panel data from rural India on a daily rated labour market to examine how workers deal with the uncertainty which arises from the existence of involuntary unemployment. In particular, it measures the relative explanatory power of the three models which the literature suggests should better fit the conditions prevailing in this market: the Expected Utility Model (EUM) with linear objective probabilities, the EUM with linear subjective probabilities and the EUM with non-linear subjective probabilities. The econometric analysis indicates that the EUM with linear has to be preferred to that with non-linear probabilities. Moreover, it supports the hypothesis...

  17. Un po' di spiacevole aritmetica" dai cambi fissi

    Matteuzzi, Massimo
    Traendo spunto dalle vicende italiane dalla fine degli anni 70 in poi, vengono analizzati gli effetti sulla crescita del debito estero, del debito pubblico e sui tassi di interesse di una persistente politica di apprezzamento del cambio reale, in un contesto teorico di pieno impiego con imperfetta mobilità dei capitali, in cui due diverse regole di politica fiscale vengono esaminate. La statica comparata di lungo periodo, in modelli di steady state, mette in luce sia l'aumento della pressione fiscale, sia il deterioramento delle regioni di scambio che le politiche di cambi fissi comportano rispetto alle politiche di cambi flessibili.

  18. Fisco

    Cavazzuti, Filippo
    Da sempre è noto che la struttura di un sistema tributario (soggetti attivi e passivi, aliquote, basi imponibili, sistemi di riscossion) altro non è che una “faccia” del sistema politico. Il presente saggio, preparato per l'Enciclopedia delle Scienze Sociali – Treccani, esemplifica come sia nel passato, sia nel presente il dibattito e le scelte concrete in materia fiscale, così come i sottostanti concetti di equità e di efficienza (interna ed internazionale) siano strettamente dipendenti dal “potere politico”, dalle forme storiche del suo esercizio e dalle relazioni e rivolte, anche violente, che spesso lo accompagnano.

  19. Modelli di Microsimulazione dinamici e analisi di lungo periodo delle politiche fiscali

    Toso, Stefano
    Questo lavora effettua una ricognizione nel campo della microsimulazione dinamica per l'analisi delle politiche fiscali al fine di mostrarne le caratteristiche generali, i pregi e i limiti attualmente riscontrabili. Alla luce delle esperienze maturate, in particolare, negli Stati Uniti, in Germania e nel Regno Unito, si evidenziano i principali problemi metodologi e di qualità dei dati che la costruzione di modelli di microsimulazione dinamici pone rispetto a quelli statici. Un sottoinsieme di modelli dinamici, quelli a coorte dinamica, è preso in esame più in dettaglio. Di questi si descrive la struttura, le difficoltà concettuali e i margini di applicazione per...

  20. Crescita e politiche fiscali nel lungo periodo

    Cellini, Roberto
    In questo lavoro si analizzano gli effetti delle politiche fiscali sulla crescita economica. Partendo dall'impostazione neoclassica, si propone una rassegna dei modelli di crescita con progresso tecnico esogeno ed endogeno, sia nel caso di modelli con agente rappresentativo, sia nel caso di struttura con generazioni sovrapposte. Gli effetti di medesime politiche fiscali sono completamente differenti, a seconda delle caratteristiche ipotizzate per la tecnologia e della struttura della popolazione. Si fa infine cenno ai problemi legati alla verificabilità empirica degli effetti delle diverse politiche della crescita.

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