Pietro Alessandrini, Luca Papi, Andrea Filippo Presbitero, Alberto Zazzaro (2014), Crisi finanziaria globale, crisi sovrana e crisi bancaria: l’Italia e il confronto europeo in Alberto Zazzaro, “Le banche e il credito alle imprese durante la crisi”, pp. 25-62, Bologna: Il Mulino. Lang.: ita – ISBN: 9788815247001 – Referee: Nessuno – Rilev.: Nazionale – Category: Contributo in volume (Capitolo o Saggio) IRIS: https://iris.univpm.it/handle/11566/157722
Leonardo Bargigli, Mauro Gallegati, Luca Riccetti, Alberto Russo (2014), Network Analysis and Calibration of the “Leveraged network-based financial accelerator” in “Journal of Economic Behavior & Organization”, Vol. 99, n. March, pp. 109-125 Lang.: eng – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Keywords: network; bankruptcy cascades; Calibration; leverage Abstract: In this paper we analyze the network structure that endogenously emerges in the credit market of the agent-based model of Riccetti et al. (2011), where two kinds of financial accelerators are at work: the “leverage accelerator” and the “network-based accelerator”. We focus on the properties of network topology and its interplay with the overall economic performance. Moreover, we empirically calibrate the banking network in the model by using Japanese real data. IRIS: https://iris.univpm.it/handle/11566/145897
Giulia Bettin, Alessia Lo Turco, Daniela Maggioni (2014), A firm level perspective on migration: the role of extra-EU workers in Italian manufacturing in “Journal of Productivity Analysis”, Vol. 42, n. 3, pp. 305-325 Lang.: eng – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Keywords: Migrant workersOutput elasticityMorishima elasticity of substitutionTranslog Abstract: A production-theory approach to migration is adopted in this paper to address the role of migrant workers from extra-EU countries in Italian manufacturing firms. The adoption of flexible functional forms to model firm-level technology lets us directly derive different measures of elasticity from the coefficients of the estimated production and cost functions. The use of foreign labour is shown to affect the industry composition in favour of low skill intensive sectors and the estimated cross demand elasticities confirm the complementarity between migrant and native workers found in previous studies. However, the two labour inputs prove to be substitutes in terms of the Morishima elasticity of substitution: in general, firms tend to increase the foreign labour intensity of production in response to a decline in migrants’ wage, while the migrant to domestic labour ratio responds to changes in the domestic workers’ wage only for firms in low skill intensive sectors. IRIS: https://iris.univpm.it/handle/11566/224980
Giulia Bettin, Riccardo Lucchetti (2015), Steady streams and sudden bursts: persistence patterns in remittance decisions in “Journal of Population Economics” Lang.: eng – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Abstract: This paper is the first systematic attempt to investigate the factors affecting time persistence in individual remittance behaviour. By using micro-level longitudinal data from the German Socio-Economic Panel (SOEP), we apply a wide variety of discrete choice static and dynamic panel models to analyse the decision to remit. Our results provide evidence in favour of an intertemporal strategy. The persistence in remittance decisions is significantly influenced by “true state dependence”: migrants that remitted in the previous year have a significantly higher propensity to remit this year as well. We also show that remittance time patterns depend on both observable and unobservable individual socioeconomic characteristics, and in particular, that the household’s transnational composition plays an important role in determining remittance behaviour. IRIS: https://iris.univpm.it/handle/11566/227665
Ermanno Catullo, Mauro Gallegati, Antonio Palestrini (2015), Towards a credit network based early warning indicator for crises in “Journal of Economic Dynamic & Control”, Vol. 50, pp. 78-97 Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205761
F. Clementi, Marco Gallegati, Mauro Gallegati (2015), Growth and cycles of the Italian economy since 1861:the new evidence in “Italian Economic Journal”, Vol. 1, n. 1, pp. 25-59 Lang.: eng – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Abstract: Based on a newly-available large set of historical national accounts, this paper revisits the main features of economic growth and cycles in Italy for the post-Unification period 1861–2011. Alongside the structural changes in growth dynamics,themain sources of output and productivity growth are identified. As regards the analysis of the underlying cyclical component, a business cycle chronology is first establishedand then both the specific patterns of individual cycles and the co-movements of output with keymacroeconomic variables are investigated. In the 150 years since itspolitical Unification, Italy’s economic growth was mainly propelled by consumption and investments, whereas on the supply side the industry and services sectors were byfar the main contributors, also because of the positive effect of labour reallocation to nonfarm activities. Over the same period, Italy experienced approximately 20 businesscycles of varying duration and amplitude. Output fluctuations were dominated by the short-term variability of agricultural production before World War II and by fluctuations of the industry sector thereafter. The cyclical behaviour exhibited by aggregate demand components conforms quite well to that evidenced in the standard internationalbusiness cycle literature, although some exceptions arise in the pre-World War II years. IRIS: https://iris.univpm.it/handle/11566/140878
Annarita Colasante, Alberto Russo (2014), The Impact of Inequality on Cooperation: An Experimental Study Lang.: eng – Category: Altro Keywords: reciprocity; public good game; inequality Abstract: This paper analyzes the impact of inequality in the distribution of endowments on contributions. We conduct a lab experiment using the well-known Public Good Game to test the relation between inequality and contribution to a public fund. We introduce the possibility to choose among three different redistribution rules: equidistribution, proportional to contribution and progressive to endowment. This novelty, combined with a payoff function that depends also on previous period behavior, allows us to verify the hypothesis that players show inequity averse preferences. Results show that inequality has a negative impact on individual contribution. Since inequality is decreasing during repetitions, we deduce that players show inequity averse preferences. Note: Working Papers / Quaderni di Ricerca N. 401 – Dipartimento di Scienze Economiche e Sociali (DiSES), Università Politecnica delle Marche ISSN: 2279-9575 IRIS: https://iris.univpm.it/handle/11566/169704
Annarita Colasante, Alberto Russo (2014), Reciprocity in the Labor Market: Experimental Evidence Lang.: eng – Category: Altro Keywords: gift exchange; reciprocity; unemployment Abstract: In this paper we focus on the impact of involuntary unemployment on wage formation using experimental evidence. We use the well-known Gift Exchange Game to analyze players’ interaction in a simplified job market. The aim of this paper is twofold: on the one hand, we are interested in analyzing the relation between involuntary unemployment and wages; on the other hand, we aim at understanding whether the interaction between employers and employees could be affected by reciprocity. Our results show that unemployment has a negative impact on wages. Moreover, there is a positive correlation between wage and effort. Note: Quaderno di ricerca n. 404, Dipartimento di Scienze Economiche e Sociali, Università Politecnica delle Marche ISSN: 2279-9575 IRIS: https://iris.univpm.it/handle/11566/184906
Luca De Benedictis, M. Lavoratornovo, Massimo Tamberi (2014), Trade and change: A meso perspective from four Italian provinces in “Economia Marche”, Vol. 33, n. 1, pp. 14-36 Lang.: eng – Referee: Esperti anonimi – Rilev.: Nazionale – Category: Articolo in rivista Keywords: Structural change, Economic growth, Complexity, Sophistication. Abstract: We investigate the evolution of the economy of the four provinces of the Marche region using information derived from international trade flows. Although mainly descriptive, the analysis reveals several aspects on the changes of their economic structure associated to economic growth. We first compare the Marche provinces’ features to the ones of other Italian provinces; this evidences a loss of export shares, but also an intensity of structural change in line with that of the Italian provinces and a positive evolution in terms of the complexity/sophistication of the goods produced. Nevertheless, a comparison with the dynamics of several international emerging and dynamic economies reveals that the pace of evolution in the Marche region is for some aspects slower than what is probably possible IRIS: https://iris.univpm.it/handle/11566/206916
R. Dornbusch, S. Fischer, R. Startz, Giuseppe Canullo, Paolo Pettenati (2014), Macroeconomia, MCGRAW HILL ISBN: 9788838668333 – Category: Monografia o trattato scientifico Note: XI edizione IRIS: https://iris.univpm.it/handle/11566/215113
Edoardo Gaffeo, Mauro Gallegati, Umberto Gostoli (2014), An agent-based “proof of principle” for Walrasian macroeconomic theory in “Computational and Mathematical Organization Theory” Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205755
Marco Gallegati, Mauro Gallegati, J.B. Ramsey, W. Semmler (2014), Does Productivity Affect Unemployment?A Time-Frequency Analysis for the US in Gallegati Marco, Semmler W., “Wavelet Applications in Economics and Finance”, pp. 23-46, Springer Verlag Germany:Tiergartenstrasse 17, D 69121 Heidelberg Lang.: eng – ISBN: 9783319070605 – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Contributo in volume (Capitolo o Saggio) Abstract: The effect of increased productivity on unemployment has long been disputed both theoretically and empirically. Although economists mostly agree on the long run positive effects of labor productivity, there is still much disagreementover the issue as to whether productivity growth is good or bad for employment in the short run. Does productivity growth increase or reduce unemployment? This paper try to answer this question by using the property of wavelet analysis to decompose economic time series into their time scale components, each associated to a specific frequency range. We decompose the relevant US time series data in different time scale components and consider co-movements of productivityand unemployment over different time horizons. In a nutshell, we conclude that, according to US post-war data, productivity creates unemployment in the short andmedium terms, but employment in the long run. IRIS: https://iris.univpm.it/handle/11566/183503
Ruggero Grilli, Gabriele Tedeschi, Mauro Gallegati (2014), Bank interlinkages and macroeconomic stability in “International Review of Economics & Finance”, Vol. 34, pp. 72-88 Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205766
Ruggero Grilli, Gabriele Tedeschi, Mauro Gallegati (2014), Markets connectivity and financial contagion in “Journal of Economic Interaction and Coordination” Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205759
Aoyama Hideaki, Yoshi Fujiwara, Mauro Gallegati (2014), Micro-macro relation of production: double scaling law for statistical physics of economy in “Journal of Economic Interaction and Coordination” Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205763
Simone Landini, Mauro Gallegati, Joseph E. Stiglitz (2014), Economies with heterogeneous interacting learning agents in “Journal of Economic Interaction and Coordination” Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205764
Alessia Lo Turco, Daniela Maggioni (2014), Imports, Exports and the Firm Product Scope: Evidence From Turkey in “World Economy”, pp. n/a-n/a Lang.: eng – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Abstract: By exploiting an original firm-product level dataset for Turkish manufacturing, -way trading on firm product scope and innovation in a multiple treatment setting. Our evidence points at the prominent role of exporting, while no effect is found for importing only. Nonetheless, we corroborate existing evidence on the virtuous nexus between the two international activities and add to the literature by showing that joint firm involvement in exporting and importing fosters product innovation and quality upgrading. IRIS: https://iris.univpm.it/handle/11566/224982
Alessia Lo Turco, Daniela Maggioni (2014), Dissecting the impact of innovation on exporting in Turkey in “Economics of Innovation and New Technology”, Vol. 24, n. 4, pp. 309-338 Lang.: eng – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Keywords: export, cost saving, quality upgrading, product innovation, process innovation, Turkey, Abstract: Does innovating promote firms’ export probability? By separately modelling – theoretically as well as empirically – the impact of process and product innovation, we show that the joint adoption of both innovation strategies fosters Turkish firms’ first time export entry in rich destination markets. Nevertheless, innovation strengthens firms’ export probability. As predicted by our theoretical sketch, product innovation matters in particular for exporting to developing economies, while process innovation reinforces the role of product innovation for exporting to richer markets. IRIS: https://iris.univpm.it/handle/11566/224981
Jos‚ T. Lunardi, Salvatore MiccichŠ, Fabrizio Lillo, Rosario N. Mantegna, Mauro Gallegati (2014), Do firms share the same functional form of their growth rate distribution? A statistical test in “Journal of Economic Dynamic & Control”, Vol. 39, pp. 140-164 Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205762
Francesco Marchionne, Alberto Zazzaro (2014), Rischio e concorrenza nel sistema bancario italiano durante la crisi finanziaria globale in Alberto Zazzaro, “Le banche e il credito alle imprese durante la crisi”, pp. 137-174, Bologna: Il Mulino. ISBN: 9788815247001 – Referee: Nessuno – Category: Contributo in volume (Capitolo o Saggio) IRIS: https://iris.univpm.it/handle/11566/157723
Maurizio Mariotti, Massimo Tamberi (2014), DiSES working papers 30 years and 400 papers after Lang.: eng – Category: Altro Keywords: Research in Economics, Publishing Abstract: With this paper we celebrate thirty years (1983-2013) of the present series of research papers “Quaderni di ricerca”, after 400 issues of the publication. We analyze the available quantitative information from a descriptive point of view, evidencing the main research fields, and stressing, among other aspects, the progressive integration of the research of our department in the international community of researchers. From the qualitative side, we analyze the position of the series within the RePEc archive, in terms of total downloads and of two bibliometric indexes, showing the progressive improvement of the ranking of the “Quaderni” IRIS: https://iris.univpm.it/handle/11566/224932
Antonio Palestrini, Mauro Gallegati (2014), Necessary Condition for Rationality and Adaptive Expectations Schemes Category: Altro IRIS: https://iris.univpm.it/handle/11566/152910
Luca Papi (2014), Le autorità indipendenti nel settore bancario in “Moneta e credito”, Vol. 67, n. 268, pp. 349-399 Lang.: ita – Referee: Esperti anonimi – Rilev.: Nazionale – Category: Articolo in rivista Keywords: Autorità indipendenti; settore bancario Abstract: Negli ultimi anni la diffusione delle autorità indipendenti ha rappresentato un importante tratto distintivo dell’evoluzione istituzionale di gran parte dei paesi. La corrispondente delega di poteri è stata giustificata con la necessaria autonomia dal potere politico ed economico, nell’ipotesi che le autorità indipendenti siano la risposta istituzionale più efficace per perseguire gli interessi pubblici. Questa impostazione si basa su tre principali presupposti la cui validità è storicamente e geograficamente determinata. Il lavoro esamina le autorità indipendenti del settore bancario e finanziario, spiegandone l’evoluzione e i profili di autonomia e di accountability. I cambiamenti della regolamentazione e del ruolo delle autorità vengono messi in relazione agli sviluppi internazionali e alla loro continua trasformazione, anche alla luce delle ricorrenti crisi finanziarie. Infine il lavoro si interroga su quale debba essere l’assetto istituzionale ottimale in termini di divisione/integrazione delle responsabilità di vigilanza in ambito bancario/finanziario. IRIS: https://iris.univpm.it/handle/11566/224135
Luca Papi, Andrea Filippo Presbitero, Alberto Zazzaro (2014), I consorzi di garanzia fidi durante la crisi: alcune evidenze empiriche in Zazzaro A., “Le banche e il credito alle imprese durante la crisi”, pp. 301-330, Bologna: Il Mulino. Lang.: ita – ISBN: 9788815247001 – Referee: Nessuno – Rilev.: Nazionale – Category: Contributo in volume (Capitolo o Saggio) IRIS: https://iris.univpm.it/handle/11566/157724
Luca Papi, Andrea Filippo Presbitero, Alberto Zazzaro (2015), IMF lending and banking crises Lang.: eng – Category: Altro Keywords: Banking Crises; IMF Programs Political economy; Conditionality Note: IMF Working Paper 15/19 IRIS: https://iris.univpm.it/handle/11566/225036
Andrea Filippo Presbitero, Agnese Sacchi, Alberto Zazzaro (2014), Property tax and fiscal discipline in OECD countries in “Economics Letters”, Vol. 124, pp. 428-433 Lang.: eng – Referee: Nessuno – Rilev.: Internazionale – Category: Articolo in rivista Abstract: This paper investigates the effects of property taxation on fiscal discipline for a sample of OECD countries over the period 1973–2011. We find that aggregate property taxation in total tax revenues is not statistically correlated with the primary surplus-to-GDP ratio. In contrast, a greater reliance on property taxes pertaining to sub-national governments contributes to fiscal discipline, suggesting that fiscal decentralization should favor responsive tax base instruments. IRIS: https://iris.univpm.it/handle/11566/205847
Andrea Filippo Presbitero, Gregory F. Udell, Alberto Zazzaro (2014), Home Bias and the credit crunch: A national perspective in “Journal of Money, Credit and Banking”, Vol. 46, n. s1, pp. 53-85 Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Keywords: banking; credit crunch; flight to quality; distance Abstract: Using detailed data on loan applications and decisions for a large sample of manufacturing firms in Italy during the recent financial crisis, we find that the credit crunch has been harsher in provinces with a large share of branches owned by distantly managed banks. Inconsistent with a flight to quality we do not find evidence that economically weaker firms suffered more during the crisis. In contrast, we find that financially healthier firms were affected more in functionally distant credit markets than in markets populated by less distant banks, consistent with a home bias on the part of nationwide banks. IRIS: https://iris.univpm.it/handle/11566/86386
Maria Cristina Recchioni, Gabriele Tedeschi, Mauro Gallegati (2015), A calibration procedure for analyzing stock price dynamics in an agent-based framework in “Journal of Economic Dynamic & Control”, Vol. 60, pp. 1-25 Lang.: eng – Referee: Esperti anonimi – Rilev.: Internazionale – Category: Articolo in rivista Keywords: Agent-based models; Asset pricing; Calibration; Forecasting; Heterogeneous beliefs; Validation; Economics and Econometrics; Control and Optimization; Applied Mathematics IRIS: https://iris.univpm.it/handle/11566/228222
Luca Riccetti, Alberto Russo, Mauro Gallegati (2014), An agent based decentralized matching macroeconomic model in “Journal of Economic Interaction and Coordination” Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205760
Gabriele Tedeschi, Stefania Vitali, Mauro Gallegati (2014), The dynamic of innovation networks: a switching model on technological change in “Journal of Evolutionary Economics”, Vol. 24, pp. 817-834 Referee: Nessuno – Category: Articolo in rivista IRIS: https://iris.univpm.it/handle/11566/205758
Alberto Zazzaro (2014), Le banche e il credito alle imprese durante la crisi, Il Mulino., Bologna Lang.: ita – ISBN: 9788815247001 – Referee: Nessuno – Category: Curatela Keywords: Mercato del credito; Crisi IRIS: https://iris.univpm.it/handle/11566/157720
Alberto Zazzaro (2014), Le banche e il credito alle imprese durante la crisi: un’introduzione in Alberto Zazzaro, “Le banche e il credito alle imprese durante la crisi”, pp. 9-22, Bologna: Il Mulino. Lang.: ita – ISBN: 9788815247001 – Referee: Nessuno – Rilev.: Nazionale – Category: Breve introduzione IRIS: https://iris.univpm.it/handle/11566/157721
