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Del materialismo storico. Dilucidazione preliminare
No full textPrima edizione critica con varianti di Del materialismo storico. Dilucidazione preliminar
The evolutionary game between tourist and resident populations and Tourist Carrying Capacity
No full textTourism implies the encounter and interaction of two non-homogeneous populations, possibly further internally structured into like-minded communities. Its sustainability, although still poorly defined, depends upon the type of such interaction and its evolution. This is why we believe that the theoretical representation of the problem has to occur within a game theory framework. This paper begins to investigate this uncharted, perhaps novel, idea. Moreover, building on existing literature, it discusses the impact of such an approach on one of the key concept that has been developed to assess the local impact of tourism, i.e. Tourism Carrying Capacity
Antonio Labriola, Del materialismo storico. Dilucidazione preliminare
No full textPrima edizione critica con varianti di Del materialismo storico. Dilucidazione preliminar
Financialisation as structural change: measuring the financial content of things
Full text linkIn this article, we present a multi-sectoral treatment of financialisation based on input–output analysis. Our main innovation introduces financialisation as an increase in financial content per unit of output produced. In this way, we may investigate changes in relative importance of financial activities, taking into account direct and indirect interactions among sectors. Although methods focusing on the disaggregation of input–output tables have been largely explored in past decades, they have received limited attention in the literature on financialisation. We aim to refocus on multi-sectoral issues by offering a simple structure of analysis to assess the interconnections between the real and financial sides of the economy. Using a 15 and 14-sector level of aggregation, we study the experiences of the United States and Brazil for the period 1947–2015 and 1995–2011, respectively
Some new insights on financialization and income inequality: evidence for the US economy, 1947–2013
No full textIn this article, we study the relationship between income distribution and financialization in the United States between 1947 and 2013. Financialization is introduced as a two-fold process. On the one hand, it implies an increase in the contribution of the financial sector in the composition of production. On the other hand, it is related to an increase in the importance of financial assets in terms of the composition of wealth. We take the share of financial employment as a proxy of the first dimension while, as to wealth composition, we make use of the share of financial assets on corporations’ total assets. Applying cointegration techniques, we identify a positive long-run relationship between financialization and income inequality. Causality goes from employment to income inequality and from the latter to wealth. Nonlinear estimators suggest the existence of certain asymmetric effects such that changes in income distribution cannot be reverted by simply reverting financialization
The Kuznets curve of the rich
Full text linkA long-standing interest in the relationship between inequality and sustainable growth continues to fascinate economists among other social scientists. It must be noted, however, that most empirical efforts have focussed on the income inequality–growth nexus, while studies on wealth inequality are much scarcer. This study attempts to fill such a gap in the literature by assessing the correspondence between the top 1 percent's wealth share and economic growth. Employing time series cointegration techniques, we study the experience of France and the United States from 1950 to 2014. Our estimates suggest that the output growth rate is an inverted-U-shaped function of the wealth share of the top 1 percent. The estimated relationship is robust to variations in control variables and estimation methods. We compute the local optimal wealth share, understood as the share of wealth compatible with the maximum growth rate, and show that France is growing close to its long-run potential, while the United States is significantly below its
Environmental policy options in the multi-regimes framework
No full textThis paper extends the multi-regime framework to variables involved in the debate on the relation between environmental quality and economic growth. In this light, it reexamines the interpretation of the so-called Environmental Kutznets Curve. The adapted framework can account for one fundamental finding, which does not find a place in the relevant literature: namely, the diversity across countries and regions of the development experience in terms of both growth performance and evolution of environmental quality. On the other hand, the paper reviews the proposition of the associated potential conflict between these two targets, and the presence of a trade-off between them. The issues captured by this simpler notion of tradeoff are essentially of a qualitative nature. We propose hereafter a formal way to think about these issues. The bonus is a framework that seems more appropriate for designing integrated policy plans apt to guide an economy along the difficult traverse between two different growth mixes
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