1,720,993 research outputs found
A new mobility index for Trandition Matrices
No full textThis work treats the construction of a mobility index able to grasp the prevailing
direction in the dynamics ruled by a given transition matrix. The states of
the matrix are based on an ordered economic variable, such as firm size, income
or ratings, for which the future state can be better or worse than the current one.
We propose here a whole family of directional indices, evaluated as a function
of the transition matrix, and defined so that their absolute value measures the intensity
of mobility, and their sign (+/-) represents the prevailing direction towards
improvement/worsening in the dynamics under study
Mover-Stayer Model in an Industrial Area: a first application
No full textIn the last decade the District of Prato has suffered a deep shrinkage of exports and Added Value of its textile industry which is the core of the overall economy of the same small area.In this paper we want to investigate if the same shrinkage has involved a firm size downsizing-measured in number of employees- both of the textile industry and the overall economy of the District. For this purpose we use the Mover Stayer Model (MS), which advantage is the possibility to consider firms heterogeneity, necessarily ignored in classical Discrete Markov Chains. The used estimators are Goodman (1961) and Frydman (1984). Of this second estimator we point out the necessity to restrain its validity both on applied and a priori mathematical ground.
Data are represented by two fix panels formed from ASIA-ISTAT.
Firm size equilibrium distributions are simulated
A new mobility index for transition matrices
No full textIn this work we construct a mobility index able to grasp the prevailing
direction in the evolution of a given set of statistical units. We consider the case of
dynamics ruled by a transition matrix, whose states are based on an ordered economic
variable (firm size or income, among others) such that the future position of an
individual can be better or worse than the current one. The existing indices measure
only the absolute value of mobility, without providing information about the main
direction in the dynamics. We propose here a whole family of directional indices
defined as functions of the transition matrix, so that their absolute value measures the
intensity of mobility, and their sign (+/−) represents the prevailing direction towards
improvement/worsening in the dynamics under study
Testing Gibrat's law in Italian macro-regions:analysis on a panel of mechanical companies
No full textThe present paper deals with the question whether “Gibrat’s law” is applicable to Italian mechanical companies active between 1997 and 1999 or not. The analysis was carried at a spatial level splitting companies in four macro-regions: North- West, North – East, Centre and South. On the basis of a set of descriptive and inferential tools, we find that firm size, measured by total assets, follows approximately a log-normal distribution in at least two of the four analyzed macro-regions. Nevertheless log-normality is only one necessary but not sufficient condition for the validity of the Gibrat’s law. Thus we analyzed the influence of firm size on growth rate finding a negative relation between the two variables in all macro-regions. This is a clear violation of Gibrat’s law. Another violation was found by the application of an econometric model which evidences the persistence of growth
Could they grow faster? An explorative and counterfactual exercise of the Firms’ Core during the Golden Age in Italy
No full textThe firms’ size distribution in the Italian Golden age has been described as a
successful example of the adoption of the big business model which is characterized
by large firms able to exploit the economies of scale of the modern technologies. Two
main questions are present in literature: was it enough or could have been done
better? Are the two decades homogeneous? The paper tries to answer to these
questions observing a panel of a Core of firms, estimating their changing of size
distribution and the tendency to upsize, by the Mover-Stayer model. The upsizing of
firms emerges clearly, considering the distribution among the size classes in the years
1950, 1960 and 1970, the transition matrices and directional index which shows a
rate of growth more than considerable and a strong tendency to upsizing of firms in
every class. Moreover, the equilibrium distribution is characterized by a relevant
increase of the frequencies in the last two classes. A slowdown of the growth of the
size in the last years of the second decade appears too, but the remarkable shift of
frequencies on the last two classes - both of the effective and equilibrium
distribution- point anyway to a success story. The difference observed in the
equilibrium configuration according to 1960-1970 decade, shows a stronger shift of frequencies on the right of the distribution and it seems to confirm the traditionally
observed effect of a more selective industrial policy at sectorial level - in the second
part of the Sixties - than to an early presence of the perverse effect of intrusive policy in management
The evolution of firm size during the Golden Age in Italy: Evidence from the Core
No full textThis paper has the aim of reappraising the evolution of the firm size distribution of the «Core» during Italy’s Golden Age.
With several statistical and econometric tools, we study the evolution of the firm size distribution of 739 companies belonging to the Core using IMITA database. Results show that during the Golden Age there is a strong upsizing of firms and that Gibrat’s law holds for most years, meaning that firms in the Golden Age may have taken advantage of constant returns to scale justifying their choice of increasing size. IRI firms have a relevant role in this respect. The whole period can be modelled by a Markov Chain process, which guarantees homogeneity across time and between firms, proving that the evolution of firm size, during the Miracle, is not characterized by any structural breaks. The equilibrium distribution finally shows that if the Golden Age had continued, the size distribution of firms would have shifted further, bringing Italian industry very close to other Western industrialized countries
Change of Variables theorem to fit Bimodal Distributions
No full textBimodality is observed in empirical distributions of variables related
to materials (glass resistance), companies (productivity) and natural phenomena
(geyser eruption). Our proposal for modeling bimodality exploits the change of
variables theorem requiring the choice of a generating density function which represents
the main features of the phenomena under analysis, and the choice of the
transforming function φ(x) that describes the observed departure from the expected
behaviour. The novelty of this work consists in putting attention to the choice of
φ(x) in two different cases: when bimodality arises from a slight departure from
unimodality and when it is a proper structural feature of the variable under study.
As an example we use the R ”geyser” dataset
Contabilità macroeconomica e dimensione di impresa nell'industria tessile del distretto di Prato}
No full textIl lavoro concerne l'analisi dell'industria tessile di Prato per mezzo di indicatori economici e strumenti statistici quali il modello Mover Staye
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