This note contributes to the development of the theory of stochastic dependence by employing the general concept of copula. In particular, it deals with the construction of a new family of non-exchangeable copulas characterizing the multivariate total positivity of order 2 (MTP2) dependence.

In decision theory projects are usually evaluated in terms of their riskiness, and often decision under risk is intended as the one-shot-type binary choice of accepting or not accepting the risk. This paper elaborates on the concept of risk acceptance, and aims at developing a theoretical...

This note contributes to the development of the theory of stochastic dependence by employing the general concept of copula. In particular, it deals with the construction of a new family of non-exchangeable copulas characterizing the multivariate total positivity of order 2 (MTP2) dependence.

Sequential panel selection methods (spsms) are based on the repeated application of panel unit root tests and are increasingly used to identify I (0) time series in macro- panels. We check the reliability of spsms by using Monte Carlo simulations based on generating the individual test...

We study the performance of the so called Made in Italy agri-food exports over the last fifteen years, merging the strand of analysis that estimated price and demand elasticities with that considering more explicitly the role of product quality. We proceed in three steps. First, we estimate the...

The consolidation process that characterized the banking industry in the last decades has been widely analyzed, but very few studies have investigated what are the reasons why a number of announced deals were not concluded. We fill this gap in the literature analyzing the characteristics of...

Trade 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...

The recent financial crisis has clearly shown that the relationship between bank internationalization and risk is complex. Multinational banks can benefit from portfolio diversification, reducing their overall riskiness, but this effect can be offset by incentives going in the opposite...

We estimate the effect of exchange rate movements on ï¬rm-level wages, using a representative panel of manufacturing ï¬rms. We show that the direction and size of wage adjustment is shaped by the international exposure of each ï¬rm on both the sale and cost side of the balance sheet,...

The recent process of globalization has been characterized by a rapid increase of foreign direct investments (FDIs), outpacing the simultaneous expansion of arms-length trade (exporting). Trade theory traces back different patterns of internationalization to differences in productivity levels...