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31.
Benjamin Russo 《Southern economic journal》2002,69(2):444-456
Previous studies suggest that income taxes do not affect the convergence speed in neoclassical and new growth models. Those studies use very simple tax structures. This paper shows that a relation between taxes and convergence speed emerges if tax benefits are included in standard macroeconomic models. A welfare example suggests that the economic impact could be large even if the absolute size of the effect of taxes on convergence speed is small. 相似文献
32.
Quality & Quantity - The expression ‘open data’ relates to a system of informative and freely accessible databases that public administrations make generally available online in... 相似文献
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35.
Roberto Basile Alessandro Girardi Marianna Mantuano Giuseppe Russo 《The German Economic Review》2019,20(4):e385-e414
Since the mid‐1990s interregional migration flows in Italy have dramatically increased, especially from the South to the North. These flows are characterized by a strong component of human capital, involving a large number of workers with secondary and tertiary education. Using longitudinal data for the period 2002–2011 at NUTS‐3 territorial level, we document that long‐distance (i.e., South‐North) net migration of high‐skill workers has increased the unemployment at origin and decreased it at destination, thus deepening North–South unemployment disparities. On the other hand, long‐distance net migration of low‐skill workers has had the opposite effect, by lowering the unemployment at origin and raising it at destination. Further evidence also suggests that the diverging effect of high‐skill migration dominates the converging effect of low‐skill migration. Thus, concerns for an ‘internal brain drain’ from Southern regions look not groundless. 相似文献
36.
Marco Cecchini Emanuele Bajo Paolo Maria Russo Maurizio Sobrero 《Journal of Behavioral Finance》2019,20(1):107-126
The authors model the role of personality traits in explaining the disposition effect building on realization utility theory and Big 5 model and moving from an aggregate level to interindividual differences. The experimental analysis, combining NEO Revised Personality Inventory measures with individual financial data from a trading simulation run by 230 individuals in China and Italy, shows that the disposition effect is driven by 2 distinct psychological processes, one related to holding losers and the other to selling winners. These 2 behavioral mechanisms are uncorrelated and influenced by different personality traits. Controlling for different demographic variables, the authors show (a) a greater sensitivity of the rewarding system that motivates “extroverts” to quickly sell the stock at gain to receive a burst of utility; (b) a tendency for “conscientious” subjects to suppress impulsivity, patiently waiting for higher cumulative returns; and (c) the importance of “openness to experience” to better value information to achieve higher outcomes. 相似文献
37.
Domenico Delli Gatti Mauro Gallegati Bruce C. Greenwald Alberto Russo Joseph E. Stiglitz 《Journal of Economic Interaction and Coordination》2009,4(2):195-212
We analyze the properties of a three-sector network economy characterized by credit relationships connecting downstream and
upstream firms (inside credit) and credit relationships connecting firms and banks (outside credit). The network topology changes over time due to an endogenous process of partner selection (the preferred-partner choice rule). The output of simulations shows that a business cycle at the macroeconomic level can develop as a consequence of the
complex interaction of the heterogeneous financial conditions of the agents involved. In this paper we focus on the emergence
of bankruptcy crises: the bankruptcy of one agent can bring about the bankruptcy of one or more other agents in a snowball
effect of more or less large size, depending on the network structure and the incidence of non-performing loans on balance
sheets of agents involved. 相似文献
38.
Michael V. Russo 《战略管理杂志》1992,13(2):103-118
This paper uses a transactions cost perspective to examine the development of organizational tendencies that plague the governance of unregulated subsidiaries by regulated parent companies. By focussing on what Williamson (1985) calls the ‘incentive limits’ of firms, conditions that should exacerbate the problems facing these firms as they diversify are identified. Empirical testing of hypotheses drawn from this discussion is conducted using a sample of nonutility, nonregulated subsidiaries of 54 electric utilities. The analysis, using both linear regression and event history methods, confirms the connection between the characteristics of the regulated parent company and subsidiary performance. The paper concludes with a discussion of how further research might extend the state of knowledge on the topic of the economic losses of bureaucracy. 相似文献
39.
Francesco Flaviano Russo 《The World Economy》2014,37(9):1290-1314
I show that the decreased price of cocaine in its major destination markets is partly explained by a lower smuggling cost, which is itself the consequence of an increased international trade in legal goods. First, because more legal imports are associated with a bigger number of transporters and therefore with a bigger supply of potential drug smugglers. Second, because, as the number of legal shipments grows, the individual inspection probability decreases, lowering the risk born by the smugglers and thus their compensation. The cocaine market provides evidence of a complementarity between legal and illegal trade. 相似文献
40.
Anne Parmigiani Robert D. Klassen Michael V. Russo 《Journal of Operations Management》2011,29(3):212-223
The public increasingly holds firms accountable for social and environmental outcomes, such as product toxicity problems and human rights violations, throughout their global supply chains. How can companies improve the social and environmental performance within their supply chains, particularly as other competitive pressures, such as cost and quality, continue to escalate? Starting from an efficient versus responsive supply chain framework, we develop an integrative model that blends together elements of supply chain configuration, stakeholder management, and capability development. Specifically, we spotlight the dimensions of control and accountability that collectively determine stakeholder exposure, and show how this new construct affects the linkages between supply chain capabilities, configuration, and performance. In particular, this analysis reveals that the nature of stakeholder exposure determines how social/environmental technical and relational capabilities impact social and environmental outcomes. We conclude with implications for research and practice, discussing how current supply chain theories must be extended to incorporate external stakeholders, to clarify strategies and identify potential pitfalls, and to better predict performance outcomes. 相似文献