Quaderni di Dipartimento [serie ordinaria - Anno 2009]


ELENCO DEI QUADERNI DI DIPARTIMENTO - WORKING PAPERS

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ISSN: 2279-9559 (dal n. 1 al n. 157), 2279-9567 (dal n. 158 al n. 363), 2279-9575 (dal n. 364 in poi)

336  Fabiano COMPAGNUCCI
I Sistemi Locali del Lavoro nell'interpretazione dell'organizzazione territoriale: fondamenti teorici e limiti ontologici [dicembre 2009]
Keywords:
  Città, Distretti, Organizzazioen territoriale del processo, Sistemi Locali del Lavoro
JEL Classification:
  R10 Urban, Rural, and Regional Economics - General Regional Economics - General
Abstract:
  [ITALIANO] La necessità di riaprire il dibattito sull'individuazione delle aree funzionali (i Sistemi o Mercati Locali del Lavoro in Italia - SLL) e di rivederne l'architettura operativa viene oramai sostenuta da numerosi studiosi. Un'operazione preliminare rispetto a tale finalità è quella di ripercorrere la genesi dei SLL per capire quale sia stato il costrutto teorico che ne ha ispirato la formalizzazione e verificarne la pertinenza interpretativa nel tempo. Almeno inizialmente, quindi a cavallo fra gli anni '70 e gli anni '80, i SLL sembrano essere in grado di cogliere alcune forme emergenti di organizzazione territoriale, in particolare quelle distrettuali. Col passare del tempo, però, il territorio si riorganizza secondo modelli urbani, rendendo meno pertinente la validità interpretativa dei SLL. È oramai evidente che, prima di modificare la procedura di regionalizzazione funzionale dell'Istat, bisogna rivederne l'ancoraggio teorico. La categoria di "città" potrebbe rappresentare il costrutto teorico di riferimento.
[ENGLISH] The need to reopen the debate on the identification of functional areas has by now been claimed by several scholars. The aim of this article is to give a contribution to this debate by first describing the genesis of Local Labour Systems (SLL) in order to understand the theoretical construct that has inspired their formalization and verify its interpretative pertinence throughout time. The SLL's seemed to be able to capture emerging forms of territorial organization, particularly the districtual ones, at the turn of the '70s and '80s. Over time, however, the process of territorial reorganization in urban models, affected its validity. To overcome this problem, the concept of functional areas has to be anchored to a different theoretical construct. The concept of city might help us in this way.
Citations:   CitEc
 
335  Fabiano COMPAGNUCCI
Dai Sistemi Locali del Lavoro alle Città: verso un nuovo algoritmo di regionalizzazione [dicembre 2009]
Keywords:
  algoritmi di regionalizzazione, centralità, città, pendolarismo, sistemi locali
JEL Classification:
  R10 Urban, Rural, and Regional Economics - General Regional Economics - General
Abstract:
  [ITALIANO] Lo scopo di questo lavoro è di riaprire il dibattito sulle modalità di regionalizzazione funzionale con la proposta di una procedura analitica di identificazione dei sistemi locali. Come è noto, l'esito della regionalizzazione funzionale in Italia si sostanzia nei Sistemi (o Mercati) Locali del Lavoro (SLL), categoria interpretativa il cui utilizzo ha sollevato innumerevoli dubbi, tanto dal punto di vista teorico che da quello operativo. Nell'articolo si cercherà di argomentare come la città, nel senso di un insieme di comuni funzionalmente interrelati, possa assurgere al ruolo di costrutto teorico su cui fondare un algoritmo alternativo di regionalizzazione. L'utilizzo della città come metrica di analisi del livello locale, infatti, consente di arricchire ed articolare la procedura utilizzata per identificare i SLL, permettendo di cogliere i fenomeni di organizzazione territoriale emergenti, basati su modelli urbani. [ENGLISH] The aim of this paper is to resume the debate on functional regionalization by proposing a new analytical procedure to identify local systems. As is well known, Local Labour Systems (LLS) are the outcome of functional regionalization in Italy. Their use has raised manifold questions, both from the theoretical point of view and from standard operating. We will try to show how the city, in the sense of a cluster of municipalities which work in an interrelated way, could be the theoretical construct to serve as the basis for an alternative algorithm of regionalization. Using the city to analyse the local level, let us to enrich and articulate the process of identification of local systems Indeed, it seems to be able to interpret the new territorial organisation which is based on urban models.
Citations:   CitEc
 
334  Filippo COSSETTI, Francesco GUIDI
ECB Monetary Policy and Term Structure of Interest Rates in the Euro Area: an Empirical Analysis [novembre 2009]
Keywords:
  EGARCH models, Monetary policy, cointegration, term structure of interest rates
JEL Classification:
  E42 Macroeconomics and Monetary Economics - Money and Interest Rates - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
  E43 Macroeconomics and Monetary Economics - Money and Interest Rates - Interest Rates: Determination, Term Structure, and Effects
  E58 Macroeconomics and Monetary Economics - Monetary Policy, Central Banking, and the Supply of Money and Credit - Central Banks and Their Policies
Abstract:
  This paper aims to explore the effects of the ECB monetary policy on the Euro area yield curve. Using cointegration techniques, this paper investigates the long-run relationships among the EONIA and Euro area money market interest rates. Results show that presence of cointegration was rejected for maturities longer than six years, implying that European Central Bank monetary policy actions do not exert significant impact on the entire spectrum of the yield curve. In addition, we also consider the transmission of EONIA interest rate volatility to the money market interest rates using EGARCH models. We find that EONIA volatility is transmitted to short and medium-period interest rates, whereas longer-term rates are not affected.
Citations:   CitEc
 
333  Chiara GIGLIARANO, Karl MOSLER
Measuring middle-class decline in one and many attributes [novembre 2009]
Keywords:
  EVS, German Sample Survey of Income and Expen, central region, middle class, minimum volume ellipsoid, zonoid region
JEL Classification:
  D31 Microeconomics - Distribution - Personal Income, Wealth, and Their Distributions
  D63 Microeconomics - Welfare Economics - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
  I30 Health, Education, and Welfare - Welfare and Poverty - General
Abstract:
  A new multivariate approach is introduced to identify the middle class of a society and to measure its possible decline. The middle class is a properly defined central region in attribute space that contains a fixed portion of the population. The decline of the middle class is measured by comparing the dispersion of the middle class. The use of minimum volume ellipsoids and different notions of central regions is discussed in one and several dimensions. An empirical illustration is given using German data on income and wealth.
Citations:   CitEc
 
332  Alessandro GAMBINI, Alberto ZAZZARO
Who captures who? Long-lasting bank relationships and growth of firms [luglio 2009]
Keywords:
  Capture effetcs, Firms' growth, Relationship lending
JEL Classification:
  G21 Financial Economics - Financial Institutions and Services - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
  G34 Financial Economics - Corporate Finance and Governance - Mergers; Acquisitions; Restructuring; Corporate Governance
Abstract:
  The theoretical literature has identified potential benefits and costs of close bank-firm relationships for both parties, suggesting possible reasons for firms being captured by banks and vice versa. In this paper we empirically explore the effects of long-lasting credit relationships on employment and asset growth of a large sample of Italian manufacturing firms in the period 1998-2003. The main findings are that relationship lending hampers the efforts of small firms to increase their size (especially in terms of employees), while it mitigates the negative growth of troubled, medium-large enterprises, thus supporting the hypothesis that small firms are captured by banks which, in turn, are captured by large firms.
Citations:   CitEc
 
331  Giulia BETTIN, Alessia LO TURCO
A Cross Country View On South-North Migration And Trade [marzo 2009]
Keywords:
  migration, north-south, trade
JEL Classification:
  F16 International Economics - Trade - Trade and Labor Market Interactions
  F22 International Economics - International Factor Movements and International Business - International Migration
Abstract:
  We explore the nexus between North-South trade and migration in a cross country framework over the period 1990-2005. In addition to the relatively unexploited cross country framework, our main contribution resides in the search for heterogeneous responses of trade to migration according to different good typologies. Besides the usual distinction between homogeneous and dierentiated products dictated by the information channel, we also investigate the eects of migration on trade in primary and nal goods and in labour and capital intensive goods with the purpose to assess the preferences and technology channels too. Our results show that, as expected, migration enhances the imports of primary and nal goods (preferences channel) and the exports of dierentiated-low elasticity of substitution goods (information channel). On the other hand, there is some evidence that the increase in the presence of migrants from the South enhances the exports of labour intensive goods (technology channel).
Citations:   CitEc
 
330  Stefano STAFFOLANI, Enzo VALENTINI
Does Immigration Raise Blue and White Collar Wages of Natives? [gennaio 2009]
Keywords:
  Migrations, Wage Equation
JEL Classification:
  J31 Labor and Demographic Economics - Wages, Compensation, and Labor Costs - Wage Level and Structure; Wage Differentials
  J61 Labor and Demographic Economics - Mobility, Unemployment, and Vacancies - Geographic Labor Mobility; Immigrant Workers
  J82 Labor and Demographic Economics - Labor Standards: National and International - Labor Force Composition
Abstract:
  This paper analyses theoretically and empirically the effects of immigration on the wage rate of native workers. Empirical literature rarely finds that immigration generates a fall in the wages of manual workers. The theoretical model presented in this paper justifies those results, by hypothesizing an economic system where advanced firms buy an intermediate good from traditional firms, which employ manual workers in both clean and dirty tasks, the latter being more disliked by native workers. We conclude that native skilled wages always increase whereas native unskilled wages can both increase or decrease with immigration. An empirical analysis of the Italian labour market follows, showing that all native workers' wages rise with immigration.
Citations:   CitEc
 
329  Francesco CHELLI, Chiara GIGLIARANO, Elvio MATTIOLI
The Impact of Inflation on Heterogeneous Groups of Households: an Application to Italy [gennaio 2009]
Keywords:
  consumer price index, consumption, discriminant analysis, household expenditure survey
JEL Classification:
  C43 Mathematical and Quantitative Methods - Econometric and Statistical Methods: Special Topics - Index Numbers and Aggregation
  D12 Microeconomics - Household Behavior and Family Economics - Consumer Economics: Empirical Analysis
  E31 Macroeconomics and Monetary Economics - Prices, Business Fluctuations, and Cycles - Price Level; Inflation; Deflation
  H31 Public Economics - Fiscal Policies and Behavior of Economic Agents - Household
Abstract:
  This paper explores the determinants of the heterogeneity in the expenditure behaviors of the Italian households, using the Households Expenditure Survey provided by the Italian National Institute of Statistics (ISTAT) for the year 2005. We assume that differences among consumers are associated with differences in their economic and socio-demographic characteristics (such as gender, employment status and age of the householder, number of household components, presence of under 18 years old components), and we look for those characteristics that better differentiate groups of households according to their purchasing patterns. We apply a nonparametric discriminant analysis based on the various expenditure budget components, and detect the most discriminating partitions of families. The technique allows us also to identify the specific goods of consumption that significantly differ across the groups identified by the best partitions. We then study the different effects of the price dynamics on subgroups of households, and propose consumer price indices specific for the optimal households groups
Citations:   CitEc