2,118 Works

Financial Fragility and the Structure of Financial Markets

Jan A. Kregel
This paper investigates the role of financial stucture on he financial fragility of the economy. It argues that while strucures is indipendent of the degree of what Misky calls financial fragility, it will have an impact on the rate of contagion by which financial fragility produces general economic instability. This is independent of the traditional view of instability as being caused by financial intermediation creating a mismatch of maturities of financial institutions' asset and liabilities,...

Riforma Sanitaria e produzione ospedaliera

Daniele Fabbri
La recente riforma del sistema di finanziamento ha reso gli ospedali responsabili dei risultati gestionali raggiunti, attribuendo loro una parte del rischio finanziario. In secondo luogo, ha reso più stringenti i vincoli di bilancio degli enti finanziatori con ripercussioni sugli incentivi al contenimento dei consumi e delle produzioni sanitarie. Infine ha ridimensionato le risorse a disposizione degli ospedali e ridisegnata la distribuzione dimensionale dell'offerta. Sono quindi all'opera almeno due dinamiche: una che tende ad incoraggiare...

I fondi comuni di investimento: Aspetti inerenti alla separazione patrimoniale

Renzulli, Valeria <1980>
Il presente lavoro mira a una ricostruzione della condizione giuridica del fondo comune di investimento, definito come “patrimonio autonomo e distinto”, su cui il legislatore non ha preso alcuna posizione espressa sul piano della titolarità, lasciando all’interprete il relativo (e tormentato) compito. A tal fine, l’esame critico della disciplina, alla luce di ulteriori forme di separazione patrimoniale rinvenibili nell’ordinamento giuridico, richiede un approccio metodologico teso sì a una ricostruzione in retrospettiva della questione ma anche...

Prospect Theory and the Law of Small Numbers in the Evaluation of Asset Prices

Barbara Luppi
We develop a model of one representative agent and one asset. The agent evaluates the earnings according to Prospect Theory and he does not know exactly the stochastic process generating earnings. While the earnings are generated by a random walk process, the agent considers a Markovian process, according to which firm’s earnings move between two regimes, represented by a mean-reverting process and a trend process, as in Barberis, Shleifer and Vishny (1998). We study how...

Competition and Commercial Media Bias

Andrea Blasco & Francesco Sobbrio
This paper reviews the empirical evidence on commercial media bias (i.e., advertisers influence over media accuracy) and then introduces a simple model to summarize the main elements of the theoretical literature. The analysis provides three main policy insights for media regulators: i) Media regulators should target their monitoring efforts towards news contents upon which advertisers are likely to share similar preferences; ii) In advertising industries characterized by high correlation in products' qualities, an increase in...

Biochar in perennial crops: nutritional, agronomical and environmental implications

Sorrenti, Giovambattista <1974>
Biochar is the solid C-rich matrix obtained by pyrolysis of biomasses, currently promoted as a soil amendment with the aim to offset anthropogenic C emissions, while ameliorating soil properties and growth conditions. Benefits from biochar seem promising, although scientific understandings are beginning to be explored. In this project, I performed a suite of experiments in controlled and in field conditions with the aims to investigate the effect of biochar on: a) the interaction with minerals;...

Price vs Quantityin a Repeated Differentiated Duopoly.

Luca Lambertini & Christian Schultz
We investigate the choice of market variable, price or quantity, of an optimal implicit cartel. If the discount factor is high, the cartel can realize the monopoly profit in both cases. Otherwise, it is optimal for the cartel to rely on quantities in the collusive phase if goods are substitutes and prices if goods are complements. The reason is that this minimizes the gains from deviations from collusive play.

Efficiency of Joint Enterprises with Internal Bargaining.

Luca Lambertini, Sougata Poddar & Dan Sasaki
In this paper we take a close look at those strategic incentives arising in a situation where firms share the costs and profits in a multi-firm project, and bargain for their respective (precommitted) split of cost- and profit-shares. We establish that, when each firm’s effort contribution to the joint undertaking is mutually observable (which is often the case in closely collaborative operations) and hence can form basis of the contingent cost- and profit-sharing scheme, it...

Design and Synthesis of Naphthalene Diimides Based Small Molecules as Anticancer Agents: Targeting the Polyamine Transporter, G-quadruplex Structures and HDAC

Marchetti, Chiara <1987>
Cancer is a multifactorial disease characterized by a very complex etiology. Basing on its complex nature, a promising therapeutic strategy could be based by the “Multi-Target-Directed Ligand” (MTDL) approach, based on the assumption that a single molecule could hit several targets responsible for the pathology. Several agents acting on DNA are clinically used, but the severe deriving side effects limit their therapeutic application. G-quadruplex structures are DNA secondary structures located in key zones of human...

Small, young, and exporters: New evidence on the determinants of firm growth

Marco Grazzi & Daniele Moschella
This work investigates how the export status of the firm influences the patterns of growth at different age classes. We address this research question resorting to a novel set of data that links together the universe of Italian firms and detailed data on export transactions. We find that the positive relationship between export status and growth declines with firm age. Further, we also find that, even when accounting for the role of age, the negative...

Scomposizione di serie storiche economiche mediante una metodologia bayesiana

Claudia Scarani
In questo lavoro si presentano alcuni risultati ottenuti mediante un programma di destagionalizzazione che utilizza un modello lineare bayesiano. Lo schema teorico, proposto da Akaike (1980), consiste nella risoluzione di un problema di minimi quadrati e nella minimizzazione di una funzione di costo ABIC. L'implementazione dell'algoritmo nel programma SEA ha tenuto conto, nella risoluzione del problema di minimi quadrati, delle strutture del modello, rendendo così possibile una drastica riduzione del numero di calcoli e di...

La crescita estensiva

Massimo Ricottilli
Nelle'enunciato ci si interroga sul fenomeno della crescita, appare subito che essa ha assunto per lunghi periodi le caratteristiche di un movimento estensivo.

Fighting corruption with pyramids: A Law and Economics approach to combating corruption in post-socialist countries

Jakovljevic, Ana <1981>
Corruption is, in the last two decades, considered as one of the biggest problems within the international community, which harms not only a particular state or society but the whole world. The discussion on corruption in law and economics approach is mainly run under the veil of Public choice theory and principal-agent model. Based on this approach the strong international initiatives taken by the UN, the OECD and the Council of Europe, provided various measures...

Microbial ecology of biotechnological processes

Fraraccio, Serena <1986>
The investigation of phylogenetic diversity and functionality of complex microbial communities in relation to changes in the environmental conditions represents a major challenge of microbial ecology research. Nowadays, particular attention is paid to microbial communities occurring at environmental sites contaminated by recalcitrant and toxic organic compounds. Extended research has evidenced that such communities evolve some metabolic abilities leading to the partial degradation or complete mineralization of the contaminants. Determination of such biodegradation potential can be...

Aumento dei contributi sociali e addizionale IRPEF: un'analisi dell'impatto redistributivo

Stefano Toso & Sergio Lugaresi
E' stata recentemente avanzata l'ipotesi di introdurre un'addizionale IRPEF dell'1% in alternativa al previsto aumento dello 0.9% dei contributi previdenziali a carico dei lavoratori dipendenti. In tal modo si sostituirebbe un incremento di imposta generalizzato ad un aumento di contribuzione gravante sui soli lavoratori dipendenti.

Expectations, Credibility and Exchange Rate Dynamics: the Case of France 1922-1930

Luisa Lambertini
The behavior of French economy in the 1920s rapresents a very interesting episode, wich attracted considerable analytical interest among the contemporaneous and, more recently, among aconomists and historians.

Simulations for Gravitational Lensing of 21 cm Radiation at EoR and Post-EoR Redshifts

Romeo, Alessandro <1987>
21 cm cosmology opens an observational window to previously unexplored cosmological epochs such as the Epoch of Reionization (EoR), the Cosmic Dawn and the Dark Ages using powerful radio interferometers such as the planned Square Kilometer Array (SKA). Among all the other applications which can potentially improve the understanding of standard cosmology, we study the promising opportunity given by measuring the weak gravitational lensing sourced by 21 cm radiation. We performed this study in two...

Tassazione progressiva del reddito e correzione del Fiscal Drag: effetti redistributivi e di benessere sociale

Sergio Lugaresi & Stefano Toso
Mediante il modello di microsimulazione ITAXMOD dell'ISPE, si valutano gli effetti redistributivi, di progressività e di benessere sociale delle misure correttive del fiscal drag da inflazione introdotte nel periodo 1976-1991, dapprima in modo parziale e poi culminate in un meccanismo di aggiustamento totale e automatica (indicizzazione dell'Irpef nel biennio 1990-91). Successivamente viene analizzato l'impatto redistributivo di una soluzione alternativa all'indicizzazione, consistente dell'accorpamento degli scaglioni e nella riduzione del livello delle aliquote marginali.

Confidence Crises and Public Debt Management

Francesco Giavazzi & Marco Pagano
The question that we ask in this paper is whether the danger of confidence crisis can be reduced by acting on the choice of the maturity structure of public debt.

Le origini della moderna economia indistriale: il contibuto di Thomas Shelling

Flavio Delbono
Il titolo dato a questo saggio - preparato per un volume intitolato Imprese e mercati - richiede forse qualche spiegazione. Una catena di argomentazioni che colleghi, per induzione all'indietro, il volume che ospita questo saggio e quello di Schelling (1960) è la seguente. La moderna teoria microeconomica dei mercati non concorenziali - come ben testimoniano due recentissimi manuali quali quelli di Tirole (1998) e di Grillo e Silva (1989) - è imperniata sulla teoria dei...

Definition of Food Safety Criteria for Bacteria Food-Borne Pathogens in Ready to Eat products

Bovo, Federica <1983>
The aims of this research study is to explore the opportunity to set up Performance Objectives (POs) parameters for specific risks in RTE products to propose for food industries and food authorities. In fact, even if microbiological criteria for Salmonella and Listeria monocytogenes Ready-to-Eat (RTE) products are included in the European Regulation, these parameters are not risk based and no microbiological criteria for Bacillus cereus in RTE products is present. For these reasons the behaviour...

On the Persistence of Economic Fluctuations: Further Evidence From a Classical Nonparametric Approach

Marco Bianchi
The paper presents a nonparametric approach, based on kernel density estimators, to assess and compare persistence of output fluctuations in Belgium, Canada, France, Germany, Italy, Japan, the United Kingdom and the Unated States. The results obtained are interpreted to be compatible in general with those already derived from the literature, but with some advantages in terms of very easy computation and economic interpretation.

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