1,355,001 research outputs found
The Italian banking system: Facts and interpretations
No full textThe paper compares the essential features of the Italian banking system with those of the other large euro-area countries. The analysis focuses on banks’ size, ownership and competitiveness, their role in financing firms, the composition of their balance sheets and their degree of internationalization, profitability and terms for customers. Within this overall framework the paper examines the banking system’s response to the financial crisis of 2007-09 and subsequent developments. The progress made in decades past is recalled and further necessary steps set out.Autore: Pozzolo, Alberto Franco; email: [email protected]
David, Giuditta e un’impasse critica. II. Perché Giorgione a Montagnana: la più semplice delle risposte
No full textIl saggio evidenzia il ruolo di Domenico Grimani, cardinale e patriarca di Aquileia, nella convocazione di Giorgione a Montagnan
Internationalization Choices: An Ordered Probit Analysis at Industry-Level
No full textTrade theory traces back different patterns of internationalization to heterogeneity between firms, measured both through differences in productivity levels and size. In this paper we analyze the link between heterogeneity within sectors and internationalization choices, namely trade and foreign direct investments (FDI) for a large sample of countries and industries between 1994 and 2004. The focus of our paper is on the role played by average productivity level and the distribution of firms by size in explaining differences across sectors and countries in the extensive margin of internationalization (i.e., the number of foreign nations where firms from a given sector and country have expanded abroad). By performing an ordered probit analysis, and controlling for other factors affecting the patterns of internationalization, we confirm that industries with higher productivity levels and with a distribution of firms shifted toward large firms are more prone to internationalize in foreign markets through both trade and FDI. Moreover, the relative impact of average productivity and firm size on FDI is larger than that on trade. These results are robust to different measures of productivity and the distribution of firms.Autore: Pietrovito, Filomena; email: [email protected]: Pozzolo, Alberto, Franco; email: [email protected]: Salvatici, Luca; email: [email protected]
Exchange rate, external orientation of firms and wage adjustment
No full textWe estimate the eect of exchange rate movements on rm-level wages, using a representative panel of manufacturing rms. We show that the direction and size of wage adjustment is shaped by the international exposure of each firm on both the sale and cost side of the balance sheet, similar to the response of employment documented in Nucci and Pozzolo (2010). Through the revenue side, wages tend to rise after a currency depreciation and the eect is more pronounced the higher is the firm's exposure to sales
from exports. Through the expenditure side, a depreciation induces a cut in the firm's wages, and the effect is larger the higher is the incidence of imported inputs in total production costs. For a given degree of external orientation, both these effects are larger for rms with a lower market power. Moreover, we document that the eect of
exchange rates on wages is shaped by (i) the extent of sectoral import penetration in the domestic market; (ii) the proportion of newly hired workers in each firm in a given year; and (iii) the composition of the firm's workforce by occupational category
Per Andrea Schiavone pittore: revisioni e aggiornamenti
No full textAggiornamento per il catalogo di Andrea Schiavon
Il "San Francesco" di Lorenzo Lotto a Jesi: un'idea - o un furto - di Tiziano?
No full textContributo dedicato al San Francesco di Jes
Giovanni Bellini a Vicenza
No full textContestualizzazione della commissione del Battesimo di Cristo di Giovanni Bellini in Santa Corona
Lorenzo Lotto, Portrait of a Young man (Bergamo, Accademia Carrara), cat. 2
No full textscheda catalografic
Scheda di catalogo in: Splendori del Rinascimento a Venezia. Schiavone tra Parmigianino, Tintoretto e Tiziano, Catalogo della mostra
No full textSacra Famiglia (collezione Grimaldi Fava
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