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The decline in municipal investments between Domestic Stability Pact and lack of financial resources

Chiades, Paolo; Mengotto, Vanni - Banca d'Italia - 2013

This paper analyzes the decline in Italian municipal investments that began in the middle of the last decade. The … analysis shows that, organizational methods for service provision budgetary financial conditions being equal, investments … finance investments with their own resources. In more recent years, the relaxation of the constraints and the introduction of …

Persistent link: https://www.econbiz.de/10011105126

Financing long-term investment: ongoing initiatives and the main policy directions

Grande, Giuseppe; Guazzarotti, Giovanni - Banca d'Italia - 2014

The topic of financing long-term investment is on the top of the agenda of economic policy makers and it is among the priorities of the Italian Presidency of the European Union. The paper describes the main international initiatives in the field and highlights the three most promising courses of...

Persistent link: https://www.econbiz.de/10011105129

Investment and Demand Uncertainty.

Guiso, L.; Parigi, G. - Banca d'Italia - 1996

Theoretical models of investment under uncertainty predict that the sign and the strength of the investment -uncertaintyrelationship is in principle ambiguous and can vary greatly across groups of firms depending on the degree of irreversibility of investment and the market power of the firm....

Persistent link: https://www.econbiz.de/10005640898

An Investment-Function-Based Measure of Capacity Utilisation. Potential Output and Utilised Capacity in the Bank of Italy's Quarterly Model.

Parigi, G.; Siviero, S. - Banca d'Italia - 2000

In this paper we build a measure of potential private-sector value added for the Italian economy that is consistent with the capital accumulation process in the Banca d'Italia's Quarterly Model -and more generally with the rest of the supply-side block of that model.

Persistent link: https://www.econbiz.de/10005640904

Investment and the Exchange Rate.

Nucci, F.; Pozzolo, A.F. - Banca d'Italia - 1998

This paper investigates the relationship between exchange rate fluctuations and the investment decisions of a sample of Italian manufacturing firms. The results support the view that a depreciation of the exchange rate has a positive effect on investment through the revenue channel, and a...

Persistent link: https://www.econbiz.de/10005640935

The Determinants of Cross-Border Bank Share holdings: an Analysis with Bank-Level Data from OECD Countries.

Focarelli, D.; Pozzolo, A.F. - Banca d'Italia - 2000

This paper investigates which factors determine a bank's decision to expand its activities abroad and what determines its choice of the countries to invest in. The empirical analysis is conducted using firm-level data on foreign subsidiaries for a representative sample fo nearly 2,500 OECD banks.

Persistent link: https://www.econbiz.de/10005671383

Investment and Growth in Europe and in the United States in the Nineties.

Caselli, P.; Pagano, P.; Schivardi, F. - Banca d'Italia - 2000

The paper analyses the sharp devergence in the nineties between capital formation in the main euro-area countries, on the one hand, and the United States, on the other. We have used data from the OECD's International Sectoral Data Base (ISDB), which includes data comparable across a certain...

Persistent link: https://www.econbiz.de/10005671398

A spatial competitive analysis: the carbon leakage effect on the cement industry under the European Emissions Trading Scheme

Allevi, Elisabetta; Oggioni, Giorgia; Riccardi, Rossana; … - Banca d'Italia - 2013

The European Emissions Trading Scheme (ETS) is a cap and trade system to curb CO2 emissions. It has caused both direct costs (CO2 allowances) and indirect costs (higher electricity prices) to energy-intensive industries. Moreover, as there is no global CO2 agreement, the ETS could distort the...

Persistent link: https://www.econbiz.de/10011099672

When the baby cries at night. Inelastic buyers in non-competitive markets

Calzolari, Giacomo; Ichino, Andrea; Manaresi, Francesco; … - Banca d'Italia - 2013

We study an inflow of buyers who are less elastic because they lack both time and information. Theory predicts that sellers increase prices to expand surplus appropriation, even if marginal costs are non-increasing, but this effect weakens as market competition intensifies. Data from Italian...

Persistent link: https://www.econbiz.de/10011099678

Markup and the Business Cycle: Evidence from Italian Manufacturing Branches

Marchetti, Domenica J. - Banca d'Italia - 1999

This paper investigates the markup of price over marginal cost in Italian manufacturing branches. The approach used is an extension of Hallï¿½s model that addresses some measurement shortcomings and theoretical limitations that may affect this class of model. The hypothesis of perfect...

Persistent link: https://www.econbiz.de/10005609358