This paper explores the relation between vertical disintegration and the co-localization of knowledge intensive business service (Kibs) firms in the metropolitan region of Milan, using micro-geographic data and nonparametric methods. Our main results are that: (i) compared to other manufacturing...

In this paper, we propose new simple innovational outlier (IO) panel unit root tests with a break. A bootstrap method for dealing with cross-sectional dependence is provided and small sample properties of the bootstrap tests are investigated by Monte Carlo experiments. The panel innovational...

This paper focuses on the effects of global factors on the saving–investment relationship. We prove that, if investments and savings are affected by idiosyncratic and global components, they must be cointegrated to obtain reliable estimates of the saving-retention coefficient. When global...