Showing 1 - 10 of 43
Persistent link: https://www.econbiz.de/10013433411
We assess the impact of low-skilled immigration on capital intensity. We first present a model characterized by frictions in the labor market and firms' asymmetric information on workers' skills and show that firms can react to the immigration-induced reduction of their workforce's skill level...
Persistent link: https://www.econbiz.de/10009645789
In an economy where entrepreneurs with unequal "abilities" face alternative investment projects, which differ in degree of risk and productivity, we analyse the Nash equilibrium contracts arising from a banks-borrowers game in the context of asymmetric information. We show that, for a particular...
Persistent link: https://www.econbiz.de/10005780673
We present a comparable set of results on the monetary transmission channels on firm investment for the four largest countries of the euro area (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing over 215,000 observations from 1985 to 1999, we...
Persistent link: https://www.econbiz.de/10005113530
The paper analyses the sharp divergence 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/10005196846
Profit share in Italy has been growing between the mid-1970s and the mid-1990s, remaining stable at historically high levels since than. After dropping in the first half of the 1970s, owing to an unprecedented rapid rise in wages, profit share started to recover. The rise during the 1980s...
Persistent link: https://www.econbiz.de/10005770758
The paper assesses the vulnerability of China to external shocks via the indirect negative effect of a slow-down in exports on domestic demand for investment. In the last decade China has increased its dependence on external demand, particularly from the advanced countries; at the same time it...
Persistent link: https://www.econbiz.de/10005770792
We study the effects of the world economic crisis which began in 2007 on the Italian productive system. National accounts data are supplemented with information gathered in spring 2009 from the Bank of Italy�s survey on industrial and service firms, and from interviews with about 70 of...
Persistent link: https://www.econbiz.de/10008543203
The paper reconstructs the items of the regional accounts, disposable income and wealth of the household sector for the …
Persistent link: https://www.econbiz.de/10005609364
This paper examines how business investment responds to investment tax credit, as enacted by Italy�s Law 388/2000. To assess whether the programme made investments possible that otherwise would not have been made, it exploits some features of the tax credit scheme, such as the fact that...
Persistent link: https://www.econbiz.de/10005609409