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Innovation and spillovers : evidence from European regions

Bottazzi, Laura; Peri, Giovanni - 2000

The importance of innovation for the economic performance of industrialized countries has been largely stressed … innovation, is the key parameter in determining sustained growth in a model with endogenous technological change. This paper … takles the extremely important task of identifying and estimating a "production function" of innovation for European regions …

Persistent link: https://www.econbiz.de/10001546259

Do central banks have precautionary demands for expansions and for price stability? : Theory and evidence

Cukierman, Alex; Muscatelli, V. Anton - 2002

This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on interest-rate reaction functions and test for their existence. A modified New Keynesian framework which makes it possible to identify the dominant type of asymmetry is developed and...

Persistent link: https://www.econbiz.de/10001688781

Financing entrepreneurial firms in Europe : facts, issues, and research agenda

Bottazzi, Laura; Da Rin, Marco - 2003

During the latter part of the 1990s the introduction of the euro, the dramatic increase in the supply of venture capital in most EU countries, and the creation of several 'new' equity markets targeted at innovative firms have dramatically transformed the financing prospects of European...

Persistent link: https://www.econbiz.de/10001772727

Does institutional change really matter? : Inflation targets, central bank reform and interest rate policy in the OECD countries

Muscatelli, V. Anton; Tirelli, Patrizio; Trecroci, Carmine - 2000

We estimate forward-looking interest-rate reaction functions for the G3 economies and for a group of countries which recently adopted inflation targets. Some significant shifts in the conduct of monetary policy are detected in the G3 countries, especially in the USA and Japan. In contrast with...

Persistent link: https://www.econbiz.de/10001477148

Political uncertainty, public expenditure and growth

Darby, Julia; Li, Chol-won; Muscatelli, V. Anton - 2000

We focus on the link between political instability due to uncertain electoral outcomes and economic growth, through the impact on a government's decisions on how to allocate government expenditure between public consumption and investment. Using an endogenous growth model with partisan electoral...

Persistent link: https://www.econbiz.de/10001512856

The role of fiscal policy in a monetary union : are national automatic stabilizers effective?

Colciago, Andrea; Muscatelli, V. Anton; Ropele, Tiziano; … - 2006

We assess the role of national fiscal policies, as automatic stabilizers, within a monetary union. We use a two-country New Keynesian DGE model which incorporates non-Ricardian consumers (as in Galì et al. 2004) and a home bias in the composition of national consumption bundles. We find that...

Persistent link: https://www.econbiz.de/10003341922