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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
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
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
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
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
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
The availability of new harmonized data on bank interest rates allows a rigorous assessment to be made of cross-country price homogeneity/heterogeneity in euro area retail credit markets. Econometric analysis shows that the banking market is still highly segmented and that the degree of...
Persistent link: https://www.econbiz.de/10005111545
Unit roots in output, an exponential 2 per cent rate of convergence and no change in the underlying dynamics of output … (conditional and unconditional) convergence suit first step approximation. We show both theoretically and empirically how the … uniform 2 per cent rate of convergence repeatedly found in the empirical literature is the outcome of an underlying parameter …
Persistent link: https://www.econbiz.de/10005770774
differences and convergence among European countries, which have become important issues since the birth of the European monetary … of the nineties, we find weak signs of convergence within the euro area; again Italy differs and shows a slower and more …
Persistent link: https://www.econbiz.de/10005770785
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