There are various paths through which globalization is channelled to the labour market. One of these is the effect on labour demand elasticity. Trade might induce an increase in this elasticity via a scale effect due to the increased competition on the output market and/or via a substitution...

Growing shares of international trade flows consist of intermediate and unfinished goods shipped from one country to another to combine manufacturing or services activities at home with those performed abroad. This configuration of the productive structure has been named “internationally...

In this paper we analyse the dynamics of trade patterns in the six largest industrialised countries and in eight fast growing Asian economies. For each of these countries we study the shape of the sectoral distribution of an index of trade specialisation and its evolution over time. Our analysis...

This paper looks at some aspect of globalisation. After a discussion on its definition, the first part highlights historical evolution of globalisation in its major components (trade flows, foreign direct investments, portfolio movements and migration). The evidence shows that (1) globalisation...

This paper presents descriptive evidence on the role of industrial districts in Italian exports. Recent data released by ISTAT allow to identify exports at the level of single industrial district. The paper first presents synthetically the main features of the Italian pattern of international...

In this paper we focus on the post Bretton Woods period and analyze whether a PPP relationship is accepted by the data for Italy, United States and Germany. We adopt a multivariate system approach in which, initially, we test for cointegration and then we try to identify a cointegration space in...

In this paper we address the Rogoff's (1996) puzzle on the exchange rate excess volatility and the slow convergence to PPP. We argue that the evidence in favour of the latter stylised fact could be biased by the adoption of unreliable measures of the speed of convergence. In fact, adopting...

Growing shares of international trade flows consist of intermediate and unfinished goods shipped from one country to another to combine manufacturing or services activities at home with those performed abroad. This configuration of the productive structure has been named “internationally...