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Bootstrap LR tests of stationarity, common trends and cointegration
Busetti, Fabio; Sanzo, Silvestro di - Banca d'Italia - 2011
The paper considers likelihood ratio (LR) tests of stationarity, common trends and cointegration for multivariate time series. As the distribution of these tests is not known, a bootstrap version is proposed via a state space representation. The bootstrap samples are obtained from the Kalman...
Persistent link: https://www.econbiz.de/10009019261
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The Effects of Technology Shocks on Output Fluctuations: An Impulse Response Analysis for the G7 Countries
Fabiani, S. - Banca d'Italia - 1997
Direct and country-specific measures of technical progress are used in order to analyse the effects of technology shocks on output fluctuations in the G7. Technology shocks are measured as the unpredicted component in the dynamics of innovation, on the basis of patent statistics provided by the...
Persistent link: https://www.econbiz.de/10005486719
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Technology transfer and economic growth in developing countries: an econometric analysis
Crispolti, Valerio; Marconi, Daniela - Banca d'Italia - 2005
In this paper we investigate two potential channels of international technology transfer towards developing countries: trade and foreign direct investments. We study the extent to which, through these channels, research and development expenditures (R&D) performed by advanced countries affect...
Persistent link: https://www.econbiz.de/10005609330
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(Fractional) Beta Convergence.
Michelacci, C.; Zaffaroni, P. - Banca d'Italia - 2000
Unit roots in output, an exponential 2 per cent rate of convergence and no change in the underlying dynamics of output seem to be three stylized facts that cannot go together. This paper extends the Solow-Swan growth model allowing for cross-sectional heterogeneity. In this framework, aggregate...
Persistent link: https://www.econbiz.de/10005780678
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An estimated DSGE model with search and matching frictions in the credit market
Liberati, Danilo - Banca d'Italia - 2014
Financial frictions have become fundamental for studying the business cycle and credit market dynamics. This work adds to the existing literature by introducing a search and matching scheme in the financial market into a cash in advance New Keynesian DSGE theoretical model. We provide an...
Persistent link: https://www.econbiz.de/10011105130
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Are firms exporting to China and India different from other exporters?
Navaretti, Giorgio Barba; Bugamelli, Matteo; … - Banca d'Italia - 2012
This paper asks whether and why advanced countries differ in their ability to export to China and India. We exploit a newly collected, comparable cross-country survey of 15,000 European manufacturing firms (EFIGE). The dataset contains information on firms� international activities and...
Persistent link: https://www.econbiz.de/10009654302
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Measuring the price elasticity of import demand in the destination markets of Italian export
Felettigh, Alberto; Federico, Stefano - Banca d'Italia - 2010
The aim of this paper is to compare the price elasticity of import demand in the destination markets of Italian exports … to the price elasticity in the destination markets of the other main euro-area countries� exports. To this end, we use …-product combination) by Broda, Greenfield and Weinstein (2006). We find that Italy exports to markets which have, on average, a lower …
Persistent link: https://www.econbiz.de/10008692067
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Assessing the vulnerability of emerging Asia to external demand shocks: the role of China
Marconi, Daniela; Painelli, Laura - Banca d'Italia - 2009
exports on domestic demand for investment. In the last decade China has increased its dependence on external demand … be highly related to exports. Overcoming serious shortcomings in available data, we estimate an investment equation for … the period 1993-2006 and find an elasticity of investment to exports in the manufacturing sector in the range between 0 …
Persistent link: https://www.econbiz.de/10005770792
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Sunk Costs of Exports
Bugamelli, Matteo; Infante, Luigi - Banca d'Italia - 2003
Using a very large panel dataset of Italian manufacturing firms, we test an empirical model of foreign markets participation with sunk costs. The period of analysis (1982-1999) is exceptionally informative: the large fluctuations in the lira exchange rate determined substantial flows of firms in...
Persistent link: https://www.econbiz.de/10005609387