Bordered communities: the perception of insecurity in five European cities

Quality & Quantity - The article explores the results of a recent European empirical study within the project Margin: tackling insecurity in marginalized areas, funded with the Horizon 2020...     

Chinese Farmers in the Russian Far East and Local Rural Development

The Russian Far East (RFE) is still a backward region of Russia. Per capita agricultural output is lower than the national average. Chinese agricultural entrepreneurs are farming in the region. The business environment is challenging for both Chinese and Russians. We analyze possible ways for agriculture to develop in the RFE with Chinese agricultural entrepreneurs as the main agents of development. We discuss the investment environment in the RFE, the role and impact of Chinese agricultural entrepreneurs, their ability to assist in rural development, and the challenges they face. We examine the current state of agriculture in the RFE, the experience of Chinese and Russian farmers, and the impact of Chinese farmers on Russian farmers. Agriculture can improve in the RFE with better communication and better coordination mechanisms among governments and with more training to help businesses understand existing policies and regulations.     

Competition Policy and Food Sector in the European Union

The article reviews the enforcement of the EU competition policy in the food sector in order to evaluate its actual ability to promote a fair and efficient food supply. Competition policy is scrutinized stemming from the different perspectives offered by 3 antitrust schools, namely, the Harvard, the Chicago, and the post-Chicago Schools. The main finding of the article is that with reforms carried out in the 1990s, EU competition policy has followed the shift that occurred in the United States since the late 1970s from the traditionalist Harvard School to the Chicago and post-Chicago Schools of antitrust. The general effect of this shift has been a significant drop in antitrust enforcement and merger control activity. As a consequence, currently competition policy is not able to tackle the wide range of social and economic problems associated with the overwhelming power of large agrofood corporations.     

Firm heterogeneity in TFP,sectoral innovation and location. Evidence from Italy

Sectoral and territorial specificities affect a firm’s capabilities of being productive. While there is a wide consensus on this, a quantitative measure of these effects has been lacking. To this end, we combine a data-set of Italian firms with some meso regional and sectoral variables and apply a cross-classified model that allows for a clear distinction between firm, region-specific and sector-specific effects. After observing a marked TFP heterogeneity across firms, the paper addresses the issue of understanding how much differences in firms’ productivity depend on regional localisation and sector specificities. Results refer to 2004–2006 and have three aspects. First, they confirm that the main source of firm variety is mostly due to differences revealed at individual level. Secondly, we find that the sector is more important than location in explaining firms’ TFP. Lastly, the results show that firm TFP increases when it belongs to more innovative sectors. Similarly, companies get benefits from belonging to sectors where there is a high proportion of firms using R&D public support and a high propensity to collaborate in innovative projects.     

Red sky at night or in the morning,to the equity market neither a delight nor a warning: the weather effect re-examined using intraday stock data

Unlike most of the existing literature on the weather effect, we conducted our analysis by employing intraday weather and market data, examining a large set of stocks rather than indices only, including volume and volatility data in the study and inspecting a wide number of weather variables (temperature, humidity, pressure, visibility, wind, cloud, rain and snow). Our analysis covered the Italian stock market for the period August 2005–March 2014 for a total of 2201 trading days. We conclude that no systematic relationship seems to exist between the weather and the Italian stock market. Moreover, our results raise doubts that testing the weather effect by limiting the analysis to indices only can lead to spurious conclusions.     

PRESUMPTIVE TAXATION METHODS: A REVIEW OF THE EMPIRICAL LITERATURE

This paper reviews the empirical literature studying the effect of the introduction of presumptive taxation methods on taxpayers’ behavior. Although the concept of presumptive taxation entails numerous alternative methods to determine tax liabilities, I survey two main areas of the literature: indirect tax assessment methods and presumptive minimum taxes. The review investigates efficiency and equity implications of presumptive taxation methods. Conflicting conclusions emerge about the effectiveness of presumptive policy tools in achieving different goals, such as the increase of voluntary tax compliance, the growth of tax revenues, and the reduction of shadow economy and fiscal evasion.     

Innovation and productivity in family firms: evidence from a sample of European firms

ABSTRACT

Using firm-level data, we estimate the returns to R&D investments for a sample of European manufacturing firms over the period 2007–2009. Results confirm that R&D efforts are positively related to productivity regardless of firm type (family or nonfamily firms). Additionally, we find that family firms invested more in R&D than nonfamily firms, but the returns to their R&D investments are low, emphasizing that they have a lower capacity to translate R&D investments into economic gains.     

Detecting Common Longevity Trends by a Multiple Population Approach

Recently the interest in the development of country and longevity risk models has been growing. The investigation of long-run equilibrium relationships could provide valuable information about the factors driving changes in mortality, in particular across ages and across countries. In order to investigate cross-country common longevity trends, tools to quantify, compare, and model the strength of dependence become essential. On one hand, it is necessary to take into account either the dependence for adjacent age groups or the dependence structure across time in a single population setting—a sort of intradependence structure. On the other hand, the dependence across multiple populations, which we describe as interdependence, can be explored for capturing common long-run relationships between countries. The objective of our work is to produce longevity projections by taking into account the presence of various forms of cross-sectional and temporal dependencies in the error processes of multiple populations, considering mortality data from different countries. The algorithm that we propose combines model-based predictions in the Lee-Carter (LC) framework with a bootstrap procedure for dependent data, and so both the historical parametric structure and the intragroup error correlation structure are preserved. We introduce a model which applies a sieve bootstrap to the residuals of the LC model and is able to reproduce, in the sampling, the dependence structure of the data under consideration. In the current article, the algorithm that we build is applied to a pool of populations by using ideas from panel data; we refer to this new algorithm as the Multiple Lee-Carter Panel Sieve (MLCPS). We are interested in estimating the relationship between populations of similar socioeconomic conditions. The empirical results show that the MLCPS approach works well in the presence of dependence.