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Production Offshoring and the Skill Composition of Italian Manufacturing Firms: A Counterfactual Analysis

Antonietti, Roberto; Antonioli, Davide - 2007

determines a bias in the relative employment of skilled versus unskilled workers. Using a balanced panel of firm-based data …, although weak, skill bias effect of production offshoring on the labor-force composition of Italian manufacturing: in … skill ratio, we find that the skill bias effect is primarily driven by a fall in the employment of production workers, while …

Persistent link: https://www.econbiz.de/10010312528

Firms' international status and heterogeneity in performance: Evidence from Italy

Casaburi, Lorenzo; Gattai, Valeria; Minerva, G. Alfredo - 2008

that only export abroad. Second, firms that engage in final goods off-shoring are more productive than firms that engage in … inputs off-shoring. Third, in terms of the productivity dynamics over the period 1998-2003, exporters' performance in Italy …

Persistent link: https://www.econbiz.de/10010270935

Riding the Waves of Reforms in Corporate Law, an Overview of Recent Improvements in Italian Corporate Codes of Conduct

Sabatini, Fabio - 2006

This paper provides an exploratory analysis on the relationship between educational qualification and work status in Italy, with a particular focus on entrepreneurs and self-employed workers. Rough data are drawn from four waves (1995, 1998, 2002, and 2004) of the Survey of Household Income and...

Persistent link: https://www.econbiz.de/10010312463

IPOs cycle and investment in high-tech industries

Bouis, Romain - 2003

This paper analyses the effects of the Initial Public Offering (IPO) market on real investment decisions in emerging industries. We first propose a model of IPO timing based on divergence of opinion among investors and short-sale constraints. Using a real option approach, we show that firms are...

Persistent link: https://www.econbiz.de/10010298253

Optimal monetary policy under commitment with a zero bound on nominal interest rates

Adam, Klaus; Billi, Roberto M. - 2004

We determine optimal monetary policy under commitment in a forwardlooking New Keynesian model when nominal interest rates are bounded below by zero. The lower bound represents an occasionally binding constraint that causes the model and optimal policy to be nonlinear. A calibration to the U.S....

Persistent link: https://www.econbiz.de/10010298285

Practical volatility and correlation modeling for financial market risk management

Andersen, Torben G.; Bollerslev, Tim; Christoffersen, … - 2005

What do academics have to offer market risk management practitioners in financial institutions? Current industry practice largely follows one of two extremely restrictive approaches: historical simulation or RiskMetrics. In contrast, we favor flexible methods based on recent developments in...

Persistent link: https://www.econbiz.de/10010298295

Asymmetric multivariate normal mixture GARCH

Haas, Markus; Mittnik, Stefan; Paolella, Marc S. - 2008

An asymmetric multivariate generalization of the recently proposed class of normal mixture GARCH models is developed. Issues of parametrization and estimation are discussed. Conditions for covariance stationarity and the existence of the fourth moment are derived, and expressions for the dynamic...

Persistent link: https://www.econbiz.de/10010298390

Multivariate regimeswitching GARCH with an application to international stock markets

Haas, Markus; Mittnik, Stefan - 2008

We develop a multivariate generalization of the Markov-switching GARCH model introduced by Haas, Mittnik, and Paolella (2004b) and derive its fourth-moment structure. An application to international stock markets illustrates the relevance of accounting for volatility regimes from both a...

Persistent link: https://www.econbiz.de/10010298391

International evidence on sticky consumption growth

Carroll, Christopher D.; Slacalek, Jirka; Sommer, Martin - 2008

We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...

Persistent link: https://www.econbiz.de/10010298392

How do fiscal and technology shocks affect real exchange rates? New evidence for the United States

Enders, Zeno; Müller, Gernot J.; Scholl, Almuth - 2008

Using vector autoregressions on U.S. time series relative to an aggregate of industrialized countries, this paper provides new evidence on the dynamic effects of government spending and technology shocks on the real exchange rate and the terms of trade. To achieve identification, we derive...

Persistent link: https://www.econbiz.de/10010298405