1,720,981 research outputs found
Technological progress and the environmental Kuznets curve in the twenty regions of Italy
No full textThe paper explores the relationship between per capita income and three air pollutants, CO, NMVOCs, and SOx, using a novel dataset based on the 20 regions of Italy. Given the central role of technological progress in long-term environmental problems, we empirically investigate the influence of innovation on the environmental Kuznets curve (EKC). The estimation results validate the existence of an EKC for the three air pollutants considered. Furthermore, the influence of innovation on the inverse-U-shaped curve identified by the theoretical literature is in general empirically confirmed. Finally, the same conclusions also hold when using another dataset related to the aggregate national economy rather than separate regions
Un indicatore di attività economica per la Lombardia e per la provincia di Milano
No full textIl lavoro si propone di costruire un indicatore coincidente di attività economica ad alta frequenza per la regione Lombardia e la provincia di Milano, mediante l’utilizzo di un dynamic factor model costruito secondo l’approccio di Stock e Watson (1998a e 1998b). La tecnica di analisi delle componenti principali sintetizza le informazioni contenute in un ampio dataset di base in un numero limitato di fattori comuni capaci di descrivere le alterne fasi cicliche. L’algoritmo EM (Expectation Maximization), infine, consente di ricavare gli indicatori territoriali desiderati tenendo conto dei dati ufficiali annuali sulla dinamica del PIL regionale o del valore aggiunto provinciale
Come misurare l'evoluzione congiunturale a livello locale: Una proposta metodologica
No full textThis paper proposes a high-frequency coincident economic activity indicator, constructed according to the dynamic factor model methodology introduced by Stock and Watson (1998a,b). The principal component analysis is used to summarize the information contained in a large dataset in a limited number of common factors, capable of capturing the main features of local business cycles. The EM (Expectation Maximization) algorithm then allows to obtain an estimate of the year-to-year variation of regional GDP or provincial value added. The exercise is applied to Lombardy and to the provinces of Milan and Pavia. © FrancoAngeli
The financial Kuznets curve: Evidence for the euro area
No full textThe paper introduces a new specification of the Kuznets curve, where turning point per capita income is conditioned on the level of financial development. We then provide new evidence on income inequality dynamics for the euro area (EA) countries since the mid-1980s. We find evidence in favor of an EA-wide financial Kuznets curve, also resilient to the recent financial and economic crises. From a policy perspective, our findings highlight the importance of financial development in fostering not only economic growth, but also a more even distribution of income
Economic structure, reaction to the crisis and entrepreneurs’ expectations in a mature regional economy: the case of Lombardia
No full textFood Competition in World Markets: Some Evidence from a Panel Data Analysis of Top Exporting Countries
Full text linkThis paper investigates the relevance of relative prices and world income as determinants of food exports for the top trading countries in the period 1992-2012 using a panel data framework. We find that price elasticities generally take lower values for processed goods, and the opposite holds for income elasticities. Processed goods are also characterised by an inverse relationship between price elasticities and average unit values. The analysis suggests that both emerging and advanced countries can be expected to increase their export specialisation in processed goods. Furthermore, developed economies can face fierce competition from emerging countries by enhancing the quality content of their processed good exports
The growth performance and prospects in the Euro Area: a balance-of-payments approach
No full textThis paper aims to apply the balance of payments constrained-growth model to explain Euro area growth performance in the last forty years and to discuss likely prospects for the future. After a formal reconsideration of the long-run and short-run arguments supporting the validity of the post-Keynesian approach to economic growth, a simplified and an extended version of the basic model are outlined. The application of these models to the Euro area experience shows that Thirlwall’s Law performs quite well in explaining growth in all decades under consideration. The fundamental reasons behind the recent unsatisfactory EMU growth experience, therefore, appear to be a decreasing export dynamics and a rising dependence on imports. Given current trends, the prospects for the future appear to be gloomy, unless structural reforms of the productive system are promoted in order to improve overall EMU competitiveness
The price and income elasticities of the top clothing exporters: Evidence from a panel data analysis
No full textThis paper studies the main export function features of twelve top clothing exporters (China, Hong Kong, France, Germany, India, Indonesia, Italy, Netherlands, Spain, Turkey, UK and USA) in the period between 1992 and 2011. Price and income elasticities are estimated for each economy using a panel data approach, after controlling for nonstationarity, cointegration and Granger causality. Rolling regressions are also performed, and show the existence of some elasticities instability over time, fundamentally related to the profound economic and institutional changes affecting the clothing trade in the period under consideration. The analysis suggests that most advanced economies, including Hong Kong, changed their position in the global value chain towards an "organizational" role. China confirms its leadership in clothing exports although its rising price elasticity sounds a warning with regard to future prospects
The effects of environmental risk on consumption dynamics: an empirical analysis on the Mediterranean countries
No full textThis paper estimates a theory-based regression model which studies the macro-economic impact of environmental and consumption risks on consumption growth in the Mediterranean region. The analysis is carried out using time series aggregate data for 13 Mediterranean countries over the period 1965–2008. The results indicate that both risks and their interaction significantly influence consumption dynamics. The estimates of the indices of relative risk aversion and relative prudence, as well as the relative preference for the quality of environment, suggest marked cross-country heterogeneity
Quale futuro per il Made in Italy? Un’analisi comparata sul settore abbigliamento
No full textI prodotti italiani dell’abbigliamento, sebbene caratterizzati da valori medi unitari all’esportazione decisamente superiori alla media, esibiscono una domanda rigida sul mercato internazionale unita a una quota di mercato ancora considerevole. Per tale motivo investire in tale comparto risulta ancora profittevole, nonostante molti esperti invochino per i Paesi avanzati un cambiamento strutturale verso settori a più elevato contenuto di tecnologia.
Da un punto di vista metodologico, elasticità di prezzo, valori medi unitari e quote di mercato, considerati insieme, appaiono indicatori appropriati per valutare la competitività dei beni prodotti nei mercati internazionali
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