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Beltrami Filippo Fontini Fulvio Giulietti Monica Grossi Luigi 《Environmental and Resource Economics》2022,83(2):381-411
Environmental and Resource Economics - This paper estimates the seasonal and zonal $${\mathrm{CO}}_{2}$$ marginal emissions factors (MEFs) from electricity production in the Italian electricity... 相似文献
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Linda Arata Michele Donati Paolo Sckokai Filippo Arfini 《The Australian journal of agricultural and resource economics》2017,61(2):265-284
In this study we develop a new methodological proposal to incorporate risk into a farm‐level positive mathematical programming (PMP) model. We estimate simultaneously the farm nonlinear cost function and a farmer‐specific coefficient of absolute risk aversion as well as the resource shadow prices. The model is applied to a sample of representative arable crop farms from the Emilia‐Romagna region in Italy. The estimation results confirm the calibration ability of the model and reveal the values of the individual risk aversion coefficients. We use the model to simulate different scenarios of crop price volatility, in order to explore the potential risk management role of an agri‐environmental scheme. 相似文献
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The three exchange rate regimes adopted by Italy from 1883 up to the eve of World War I — the gold standard (1883–1893), floating
rates (1894–1902), and “gold shadowing” (1903–1911)—produced a puzzling result: formal adherence to the gold standard ended
in failure while shadowing the gold standard proved very successful. This paper discusses the main policies underlying Italy’s
performance particularly focusing on the strategy of reserve accumulation. It presents a cointegration analysis identifying
a distinct co-movement between exchange rate, reserves, and banknotes that holds over the three sub-periods of the sample.
Given this long-run relationship, the different performance in each regime is explained by the diversity of policy measures,
reflected in the different variables adjusting the system in the various regimes. Italy’s variegated experience during the
gold standard provides a valuable lesson about current developments in the international scenario, showing the central role
of fundamentals and consistent policies. 相似文献
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We investigate the political determinants of liberalization in OECD network industries, performing a panel estimation over
30 years, through the largest and most updated sample available. Our results contrast with the traditional wisdom according
to which right-wing governments do promote market-oriented policies more intensively than left-wing ones. Our findings reveal
a neglected role of the so-called neoliberalism in promoting left-wing market-oriented policy. As a result, we claim that
ideological cleavages ceased to act as determinants of the liberalization wave observed in network industries. This result
is confirmed when controlling for the existing regulatory conditions that executives find when elected. Furthermore, we find
that the country’s exposure to other countries’ policy initiatives acts as a positive stimulus for liberalization policies. 相似文献
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Fabio Canova Filippo Ferroni Christian Matthes 《Journal of Applied Econometrics》2014,29(7):1099-1117
We propose two methods to choose the variables to be used in the estimation of the structural parameters of a singular DSGE model. The first selects the vector of observables that optimizes parameter identification; the second selects the vector that minimizes the informational discrepancy between the singular and non‐singular model. An application to a standard model is discussed and the estimation properties of different setups compared. Practical suggestions for applied researchers are provided. Copyright © 2014 John Wiley & Sons, Ltd. 相似文献
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Filippo Belloc 《Journal of economic surveys》2012,26(5):835-864
Abstract The traditional economics of innovation, inspired by Schumpeter and more recent advances on his work, seem unable to explain why firms with similar external conditions may show greatly different performance in innovation. Contrastingly, the literature on corporate governance provides some useful insights for understanding corporate innovation activity, to the extent that such literature examines the economic effects of different modes of coordination between firm members. The process through which individuals integrate their human and physical resources within the firm is central to the dynamics of corporate innovation. This paper provides the first survey of the literature on this issue. We start by discussing how various theoretical approaches to the analysis of the firm deal with technological innovation. We then describe three main channels – corporate ownership, corporate finance and labour – through which a system of corporate governance shapes a firm's innovation activity. Finally, we examine the relationship between country‐level institutional settings, national patterns of corporate governance and the aggregate innovation activity of corporations. We conclude by suggesting that future research should focus more deeply on the interrelation between the various dimensions of corporate governance and on their joint effect on firm innovation. 相似文献
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Francisco-Javier Canto-Cuevas María-José Palacín-Sánchez Filippo di Pietro 《Applied economics letters》2016,23(13):945-948
This article analyses the determinants of the trade credit in Spanish manufacturing small and medium-sized enterprises (SMEs) from a new perspective. Specifically, we focus on the relationship between trade credit and other relevance financial resources: bank credit and self-financing. For the first time in the literature, a quantile regression approach is used, which takes into account the heterogeneity of firms in different quantiles of trade credit distribution. Our results show that the relationship between trade credit and other financial sources presents dissimilarities, including differences in sign, on SMEs with different degrees of trade credit. Our findings help to clarify the confusing results achieved in previous research on this topic. 相似文献
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Filippo Cesarano 《Applied economics》2013,45(10):1437-1442
Recent criticism of money growth targets has been based on the implications of spreading financial innovation, since the latter has been considered to undermine monetary policy effectiveness both by bringing about an increase in the interest elasticity of money demand and by producing instability of the money demand function. The empirical results presented in this paper – focusing on a single and specific case of financial innovation particularly suited to study the isssue at stake – falsify both hypotheses. 相似文献