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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
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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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The internationalization of the Italian productive system
Cristadoro, Riccardo; Federico, Stefano - Banca d'Italia - 2015
This work presents, in a single framework, the results of several recent studies, carried out by Bank of Italy researchers, on the internationalization of the Italian productive system. The notion of internationalization is considered not only from the perspective of direct investments abroad...
Persistent link: https://www.econbiz.de/10011171337
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Heterogenous firms and credit frictions: a general equilibrium analysis of market entry decisions
Formai, Sara - Banca d'Italia - 2013
This paper develops a general equilibrium model of international trade with heterogeneous firms and imperfect credit markets. To finance the costs for product innovation and domestic and foreign market entry, firms must raise external capital. The model underscores the importance of considering...
Persistent link: https://www.econbiz.de/10011099621
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Caratteristiche e mutamenti della specializzazione delle esportazioni italiane
Monti, Paola - Banca d'Italia - 2005
This paper examines the product specialisation of Italian exports over the period 1985-2001 to identify the roots of … findings, the paper shows that only a small share of Italy�s exports in the 1990s competed directly with those of emerging …
Persistent link: https://www.econbiz.de/10005770761
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Il modello di specializzazione internazionale dell'Italia e dei principali paesi europei: omogeneit� e convergenza
Bugamelli, Matteo - Banca d'Italia - 2001
This paper compares main European countries and the euro area specialization patterns. The analysis, that covers the period 1988-1997 and is based on a detailed sectoral breakdown, provides evidence to assess the degree of structural differences and convergence among European countries, which...
Persistent link: https://www.econbiz.de/10005770785
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The effect of the Uruguay Round on the intensive and extensive margins of trade
Buono, Ines; Lalanne, Guy - Banca d'Italia - 2010
Do tariffs inhibit trade flows by limiting the entry of exporting firms (`extensive margin') or by restricting the average volume exported by each firm (`intensive margin')? Using a gravity equation approach, we analyze how the decrease in tariffs promoted during the 1990s by the Uruguay Round...
Persistent link: https://www.econbiz.de/10008582223
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The micro dynamics of exporting: evidence from French firms
Buono, Ines; Fadinger, Harald - Banca d'Italia - 2012
volatile, others are persistent. Previous exports to a destination substantially increase a firm�s probability of making … current exports there. Taken together, these facts correspond better to the learning than to the sunk-cost hypothesis. …
Persistent link: https://www.econbiz.de/10011099631
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Domestic and foreign sales: complements or substitutes?
Bugamelli, Matteo; Gaiotti, Eugenio; Viviano, Eliana - Banca d'Italia - 2014
in domestic sales by Italian firms in 2012, contributed negatively to firms' exports, and together with liquidity … constraints, the fall reduced the growth rate of exports by an average of 0.6 percentage points. …
Persistent link: https://www.econbiz.de/10011105108