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Growth dynamics in regional systems of technological activities – A SVAR approach
Duschl, Matthias; Brenner, Thomas - Volkswirtschaft Abteilung, Fachbereich … - 2013
This paper analyses the causal relationships in regional technological systems within a structural vector autoregression (SVAR) framework. Applying a data-driven identification strategy based on Independent Component Analysis, it shows how the regional growth dynamics of economic, research,...
Persistent link: https://www.econbiz.de/10011141166
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Agglomeration and growth: the effects of commuting costs
Accetturo, Antonio - Banca d'Italia - 2008
We present a model of industrial location and endogenous growth with congestion costs. According to the interplay between knowledge spillovers and commuting costs, we are able to obtain both a Krugman-type and a bell-shaped agglomeration outcome. In the first case, the economy experiences a...
Persistent link: https://www.econbiz.de/10005113584
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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
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La bilancia dei pagamenti di parte corrente Nord-Sud (1998-2000)
Cannari, Luigi; Chiri, Salvatore - Banca d'Italia - 2004
In this paper we estimate the current account of the balance of payments of Italy�s Southern and Northern regions for the period 1998-2000. In our scheme the General Government is considered as a non-resident institution; fiscal revenues and expenditure generate credits and debts in the...
Persistent link: https://www.econbiz.de/10005111539
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Regional Effects of Federal Tax Shocks
Hayo, Bernd; Uhl, Matthias - Volkswirtschaft Abteilung, Fachbereich … - 2012
This paper studies regional output asymmetries following U.S. federal tax shocks. We estimate a vector autoregressive model for each U.S. state, utilizing the exogenous tax shock series recently proposed by Romer and Romer (2010) and find considerable variations: estimated output multipliers lie...
Persistent link: https://www.econbiz.de/10010543457
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Foreign trade, home linkages and the spatial transmission of economic fluctuations in Italy
Giacinto, Valter Di - Banca d'Italia - 2011
During the recent global recession both the export-oriented northern Italian regions and those in the far less open South experienced a sharp decline in economic activity. One of the possible explanations is the existence of strong domestic linkages propagating foreign demand shocks from North...
Persistent link: https://www.econbiz.de/10009364556
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On vector autoregressive modeling in space and time
Giacinto, Valter Di - Banca d'Italia - 2010
Despite the fact that it provides a potentially useful analytical tool, allowing for the joint modeling of dynamic interdependencies within a group of connected areas, until lately the VAR approach had received little attention in regional science and spatial economic analysis. This paper aims...
Persistent link: https://www.econbiz.de/10008582226
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Creative Destruction and Fiscal Institutions: A Long-Run Case Study of Three Regions
Schnellenbach, Jan; Baskaran, Thushyanthan; Feld, Lars P. - Volkswirtschaft Abteilung, Fachbereich … - 2009
We analyze the rise and decline of the steel and mining industries in the regions of Saarland, Lorraine und Luxemburg over a long period, from the mid-19th century to 2003. Our main focus in on the period of structural decline in these industries after the second world war. Differences in the...
Persistent link: https://www.econbiz.de/10005034312
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Project finance in local public services: little finance and little project?
Bentivogli, Chiara; Panicara, Eugenia; Tidu, Alfredo - Banca d'Italia - 2008
This paper analyzes the potential and the limits of project finance for the provision of local public services and compares them with alternative instruments in the light of current regulation. The main requirements for project finance, even in non “pure” forms, to justify its complex...
Persistent link: https://www.econbiz.de/10005113686
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Convergence clubs, the euro-area rank and the relationship between banking and real convergence
Affinito, Massimiliano - Banca d'Italia - 2011
This paper analyses banking convergence, measured through the ratios of deposits and loans to GDP, across 65 countries …, compares it with per capita income convergence, and tests its effect on real convergence. The focus of the paper is the group … convergence among these countries with that reached by other 17 potential convergence clubs around the world (including the EU-27 …
Persistent link: https://www.econbiz.de/10009144904