2,435 research outputs found
Donatella Strangio & Giuseppe Sancetta (Eds.), Italy in a European Context: Research in Business, Economics, and the Environment, Palgrave Macmillan, 2015, 218 pp. $114 Hardcover
No full textItaly in a European context” moved from a current research project of the EuroSapienza Research Center’s. The book adopts a multidisciplinary standpoint. Each single chapter investigates the role of Italy in pursuing the EU five targets by 2020 that are: the increase both of employment level and of R&D/ innovation expenditures, the energetic measures of climate change, the reduction of school drop-out rate and the counter actions against poverty and social exclusion. This work is divided into nine chapters and two sections. The first section is based on four chapters whose objective is to investigate EU economic policies and aspects that concern political and social inequality. The second section is based on five chapters whose objective is to investigate EU economic policies and aspects concerning business and environment
Non-Linear Budgetary Policies: Evidence from 150 Years of Italian Public Finance
Get PDFWe investigate the sustainability of Italy's public finances from 1862 to 2012 adopting a non-linear perspective. Specifically, we employ the smooth transition regression approach to explore the scope for non-linear fiscal adjustments of primary surpluses in response to the accumulation of debt. The empirical results show the occurrence of a significantly positive reaction of primary surpluses to debt when the debt-GDP ratio exceeded the trigger value of 110 percent. The after-threshold positive response implies that the path of Italy's fiscal policy is sufficiently consistent with the intertemporal budget constraint
Sustainability and Urban Dimension: Main Concerns about Territorial Planning and Management in European Union
No full textAs the principal point of this article we present main issues from economic theory and from regulation activity regarding the territorial management and organization at the urban scale. The aim is not to provide clear solutions, but is more to put in the light of the day how, in spite of the changes between periods in which territorial planning prevails and periods in which a market--based approach is dominant, the territorial spatial organization requests indeed a mixed use of both regulative and theoretical perspective. In fact, they do not necessarily have to provide conflicting recommendations: probably the issues that can positively influence the economic and social activities relevant at the level of the urban dimension are actually those that should belong to both of them. The dominance of one approach over the other might also give positive results in the short term, but in the medium and long period is not sustainable
Fiscal Policy and Public Debt Dynamics in Italy
Get PDFWe examine the historical dynamics of government debt in Post-Unification Italy, from 1861 to 2009. Unit root tests for the debt-GDP ratio are unable to reject either the non stationarity or the stationarity null hypothesis. Controlling debt dynamics for fiscal feedback policies of the Barro-Bohn style, however, the debt-GDP ratio is found to be mean-reverting. Mean-reversion in the debt-GDP ratio is due not only to a nominal growth dividend, but also to a positive response of primary surpluses to variations in outstanding debt. There is indeed significant evidence that, over the history of Italy, fiscal policy makers have reacted to the accumulation of debt, taking corrective measures to rule out potential long-term sustainability problems
There’s no time like the present: path-dependent urban growth, agglomeration economies and congestion externalities in contemporary Athens
No full textDespite a long settlement history, empirical investigations of the role of path dependency in the long-term evolution of human populations are scarce in Europe, and especially in the Mediterranean countries. Using spatially explicit econometric techniques, our study discusses the empirical evidence stemming from a quantitative analysis of the spatial distribution of population growth rates in 115 districts of metropolitan Athens (Greece) over one century, distinguishing path dependency from the impact of other socio-economic forces on long-term urban expansion. The empirical findings of this study clarify how path-dependent regulation of population growth was heterogeneous over time and space, and depends on the specific stage of the city life cycle. After an initial period when path-independent population expansion reflected the inherent impact of exogenous shocks, path-dependent growth was associated with compact urbanization governed by agglomeration and scale advantages. Path-dependent growth was less intense during suburbanization, when the population spread over larger areas
Sustainability of Public Finances: The Case of Italy, 1861-2016
No full textAre Italy’s primary-surplus policies compatible with the sustainability of government debt? We address the question by examining historical budget data in post-unification Italy, from 1861 to 2016. Controlling for temporary output, temporary spending and world war-time periods in assessing whether primary surpluses significantly reacted to changes in debt, we find the following results: (i) the hypothesis of nonlinearity in the surplus-debt relationship significantly outperforms the hypothesis of linearity; (ii) there exists a threshold level in the debt-GDP ratio, approximately equal to 105 percent, above which Italian fiscal policy makers are concerned with corrective actions to avoid insolvency; (iii) the robustly positive reaction of primary surpluses to debt beyond the trigger point ensures fiscal sustainability
La recente trasformazione del credito cooperativo italiano dopo oltre un secolo di storia
No full textThis work, in the first part, traces back the historical evolution of Italian
cooperative credit system, focusing on the low capitalization of institutions
and on the absence, despite attempts, of an effective system of credit and
financial coordination. In the second part of current analysis, focuses on
the reform path culminated with the Law n. 49/2016 issued to strengthen
the stability and solidity of the cooperative credit system through the intro-
duction of the new legal figure of the cooperative banking group
Il debito pubblico italiano. Una serie storica dal 1861 al 2012
No full textIl lavoro presenta una lettura dell’evoluzione del debito pubblico italiano in rapporto al PIL e della sua relazione con l’avanzo primario dall’Unità d’Italia al 2012, attraverso una ricostruzione delle serie storiche del debito pubblico delle Amministrazioni centrali, del PIL e dell’avanzo primario di bilancio. A differenza della metodologia finora impiegata dalla storiografia sull’argomento, si propone una analisi basata sul rapporto tra la dinamica del debito pubblico e le variabili di politica fiscaleThis paper investigates the evolution of the Italian public debt-GDP ratio
and its relationship with the primary surplus from the Unification of Italy
to 2012, through a reconstruction of the time series of the central government
public debt, of the GDP and of the primary surplus. Unlike the methodology
employed by the previous historiography on the subject, the present
analysis is based on the relationship between the public debt dynamics and
the fiscal policy variables
Politiche di bilancio e debito pubblico nella storia italiana: un modello non lineare
No full textAre Italy’s primary-surplus policies compatible with the sustainability of government debt? We address the question by examining
historical budget data in post-unification Italy, over the 150 years from 1862 to 2012. Controlling for temporary output, temporary
spending and world war-time periods in assessing whether primary surpluses significantly reacted to changes in debt, we find the
following results: (i) the hypothesis of nonlinearity in the surplus-debt relationship significantly outperforms the hypothesis of
linearity; (ii) there exists a threshold level in the debt-GDP ratio, approximately equal to 111%, above which Italian fiscal policy
makers are concerned with corrective actions to avoid insolvency; (iii) the robustly positive reaction of primary surpluses to debt
beyond the trigger point ensures fiscal sustainability
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