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Endogenous Growth, Monetary Shocks and Nominal Rigidities 内生增长、货币冲击和名义刚性
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2011-02-01 DOI: 10.2139/ssrn.1781035
Barbara Annicchiarico, Alessandra Pelloni, L. Rossi
{"title":"Endogenous Growth, Monetary Shocks and Nominal Rigidities","authors":"Barbara Annicchiarico, Alessandra Pelloni, L. Rossi","doi":"10.2139/ssrn.1781035","DOIUrl":"https://doi.org/10.2139/ssrn.1781035","url":null,"abstract":"We introduce endogenous growth in a standard NK model with staggered prices and wages. We find that the source of nominal rigidities, the shock persistence and the type of Taylor rule affect the relationship between monetary volatility and growth.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"151 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115182024","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 29
Science and Technology in World Agriculture: Narratives and Discourses 世界农业中的科技:叙事与话语
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2010-11-08 DOI: 10.2139/ssrn.1705750
P. Scandizzo
{"title":"Science and Technology in World Agriculture: Narratives and Discourses","authors":"P. Scandizzo","doi":"10.2139/ssrn.1705750","DOIUrl":"https://doi.org/10.2139/ssrn.1705750","url":null,"abstract":"The narratives characterizing the current debate on world agricultural research tend to be part of a discourse that rationalizes past experience and future tendencies along the lines of extreme recounts of successes and failures. Stories of agricultural development and of accomplishments of research and science in agriculture tend to be organized according with either a conservative or a radical paradigm, which are in sharp contrast with each other and are at the origin of basic disagreements and biased information. For the neutral observer these contrasting views, to the extent that they seem to concern facts more than opinions, cause disorientation and stress in the form of the well known phenomenon of cognitive dissonance. Among the international institutions, the World Bank appears to have taken on the responsibility of attenuating such a phenomenon by providing, through its own narratives, stylized truths and balanced interpretations.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124604626","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
The Market for Lawyers and the Quality of Legal Services 律师市场与法律服务质量
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2010-07-01 DOI: 10.2139/ssrn.1653919
E. Iossa, B. Jullien
{"title":"The Market for Lawyers and the Quality of Legal Services","authors":"E. Iossa, B. Jullien","doi":"10.2139/ssrn.1653919","DOIUrl":"https://doi.org/10.2139/ssrn.1653919","url":null,"abstract":"Studying the strategic interaction between litigants, lawyers and judges, we analyze the value of the quality of legal representation and how public information over quality affects the outcome of the judicial process. Judges have reputational concerns and the quality of lawyers is reflected in knowledge of legal principles and in proof-taking ability. Deriving the demand for legal representation and the market equilibrium, we show that higher quality of legal representation is welfare increasing but better information over quality may be welfare reducing. We discuss the implications of our results on the desirability of quality ceritfication, such as the Queen's Counselor system","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128674809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Testing for Common Autocorrelation in Data Rich Environments 数据丰富环境中常见自相关的测试
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2009-12-04 DOI: 10.2139/ssrn.1518419
G. Cubadda, Alain Hecq
{"title":"Testing for Common Autocorrelation in Data Rich Environments","authors":"G. Cubadda, Alain Hecq","doi":"10.2139/ssrn.1518419","DOIUrl":"https://doi.org/10.2139/ssrn.1518419","url":null,"abstract":"This paper proposes a strategy to detect the presence of common serial correlation in high-dimensional systems. We show by simulations that univariate autocorrelation tests on the factors obtained by partial least squares outperform traditional tests based on canonical correlations.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131250420","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 21
Construction in Italy's Regions, 1861-1913 意大利地区的建筑，1861-1913
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-12-03 DOI: 10.2139/ssrn.1310672
Carlo Ciccarelli, S. Fenoaltea
{"title":"Construction in Italy's Regions, 1861-1913","authors":"Carlo Ciccarelli, S. Fenoaltea","doi":"10.2139/ssrn.1310672","DOIUrl":"https://doi.org/10.2139/ssrn.1310672","url":null,"abstract":"This paper presents time-series estimates of construction activity in the regions of post-Unification Italy. Total construction followed very different time paths, reflecting the sharply local cycles in railway construction. Other public works were less idiosyncratic; the boom of the Giolitti years was widely diffused, but that of the 1880s was much more concentrated in Latium and Liguria. In the construction of buildings, the Giolittian boom was marked in the North and Center, but spotty in the South and major islands; earlier swings were comparatively minor, save of course for the 1880s bubble in Latium. Over the long term, railway construction was, per-capita, relatively evenly spread. Other social-overhead construction displays a similar pattern, but with exceptionally high levels in Latium and Liguria. Building construction seems instead to have declined somewhat from North to South; Liguria was again the overall leader, with Latium second.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122240046","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 12
The Effects of Unification: Markets, Policy and Cyclical Convergence in Italy, 1861-1913 统一的影响:1861-1913年意大利的市场、政策和周期性趋同
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-11-19 DOI: 10.2139/ssrn.1304000
Carlo Ciccarelli, S. Fenoaltea, Tommaso Proietti
{"title":"The Effects of Unification: Markets, Policy and Cyclical Convergence in Italy, 1861-1913","authors":"Carlo Ciccarelli, S. Fenoaltea, Tommaso Proietti","doi":"10.2139/ssrn.1304000","DOIUrl":"https://doi.org/10.2139/ssrn.1304000","url":null,"abstract":"This paper examines the convergence of regional business cycles in the decades that followed Italy's Unification. The aggregate construction series point to cyclical convergence, but a sectorlevel analysis traces this result to the decline in differentiated \"regional-policy\" shocks. The regional market cycles diverged, as the regions specialized in different sectors of production; market-cycle convergence is observed only within the \"industrial triangle,\" the regions of which also developed different specializations. This suggests that the balance between growing interdependence and growing differentiation is not general, as the current literature presumes, but specialization-specific.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132377723","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Cigarette Smoking, Pregnancy, Forward Looking Behavior and Dynamic Inconsistency 吸烟、怀孕、前瞻行为和动态不一致
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-11-14 DOI: 10.2139/ssrn.1301464
Carlo Ciccarelli, L. Giamboni, R. Waldmann
{"title":"Cigarette Smoking, Pregnancy, Forward Looking Behavior and Dynamic Inconsistency","authors":"Carlo Ciccarelli, L. Giamboni, R. Waldmann","doi":"10.2139/ssrn.1301464","DOIUrl":"https://doi.org/10.2139/ssrn.1301464","url":null,"abstract":"This paper addresses two aspects of the model of rational addiction: forward looking behavior and time consistent preferences. It explores smoking by women before, during and after pregnancy using the European Community Household Panel (ECHP).Pregnancy is used as an instrument for a partially predictable future decrease in smoking. Women reduce the average number of cigarettes they smoke and many quit in the period 10 to 15 months before the birth of a child. Our analysis suggests that this effect may be stronger for married than for unmarried women, corresponding to the higher probability that the pregnancies of married women are planned. Pregnancy is also used as an instrument to estimate the parameters of a structural model of addiction. The estimates imply that cigarettes are highly addictive. Finally, we present statistically significant evidence that, even when the expected number of cigarettes smoked one month after the interview is taken into account, expected smoking further in the future has an independent effect on current consumption. This effect remains even when we impose the highest theoretically possible coefficient on expected cigarettes smoked one month after the interview. This means that the null of time consistency is (barely) rejected against the alternative of time inconsistency.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"170 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124733808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Predicting the Signs of Forecast Errors 预测预测错误的迹象
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-11-01 DOI: 10.2139/ssrn.1306279
N. Solferino, R. Waldmann
{"title":"Predicting the Signs of Forecast Errors","authors":"N. Solferino, R. Waldmann","doi":"10.2139/ssrn.1306279","DOIUrl":"https://doi.org/10.2139/ssrn.1306279","url":null,"abstract":"The signs of forecast errors can be predicted using the difference between individuals' forecasts and the average of earlier forecasts of the same variable. It is possible to improve forecasts without worsening any. It is difficult to reconcile this result with the rational expectations hypothesis, because the average of earlier forecasts is in the information set of the forecasters","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132067741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Gender and Regional Differences in Self-Rated Health in Europe 欧洲自评健康的性别和地区差异
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-10-01 DOI: 10.2139/ssrn.1434488
Franco Peracchi, C. Rossetti
{"title":"Gender and Regional Differences in Self-Rated Health in Europe","authors":"Franco Peracchi, C. Rossetti","doi":"10.2139/ssrn.1434488","DOIUrl":"https://doi.org/10.2139/ssrn.1434488","url":null,"abstract":"This paper shows that gender and regional differences in self-rated health in Europe are partly explained by differences in the prevalence of the various conditions. However, a non-negligible part of these differences is due to other causes, which may include differences in reporting own health. We employ the tool of “anchoring vignettes” to understand whether and how women and men living in different regions differently report levels in a number of health components or domains. We find that vignettes help identifying gender and regional differences in response scales. After controlling for these differences, both gender and regional variation in reported health is substantially reduced, although not entirely eliminated. Our results suggest that differences in response style should be taken into account when using self-assessment of health in socio-economic studies. Failing to do so may lead to misleading conclusions.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"89 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122473656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 14
Easterlin-Types and Frustrated Achievers: The Heterogeneous Effects of Income Changes on Life Satisfaction 伊斯特林类型与失意者:收入变化对生活满意度的异质性影响
CEIS: Centre for Economic & International Studies Working Paper Series Pub Date : 2008-08-08 DOI: 10.2139/ssrn.1212802
L. Becchetti, L. Corrado, F. Rossetti
{"title":"Easterlin-Types and Frustrated Achievers: The Heterogeneous Effects of Income Changes on Life Satisfaction","authors":"L. Becchetti, L. Corrado, F. Rossetti","doi":"10.2139/ssrn.1212802","DOIUrl":"https://doi.org/10.2139/ssrn.1212802","url":null,"abstract":"We investigate the relationship between money and happiness across the waves of the British Household Panel Study by using a latent class approach which accounts for slope heterogeneity, omitted variable bias and departures from normality assumptions. Our findings reveal the presence of a vast majority of \"Easterlin-type\" individuals with positive but very weak relationship between changes in income and changes in happiness and a small minority (2 percent) of \"frustrated achievers\" with negative relationship. Such share is much below descriptive evidence on frustrated achievement (17.5 percent). The probability of belonging to such group is shown to be positively related with divorced status and negatively related to education and relative (personal to reference group) income. Our interpretation of these results is that the standard concave money-happiness relationship provides a partial and incomplete picture of the complex nexus between happiness and income as it does not take into account two important phenomena: the role of peers and of reference group income and that of the dynamics between realisations and expectations.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116658177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
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