The paper articulates and tests the hypothesis that innovation is a major factor in the reduction of income inequalities. The relationship between the pace of technological change and the dynamics of income inequalities has been first suggested by Kuznets (1955), but found little elaboration and...

The paper articulates and tests the hypothesis that innovation is a major factor in the reduction of income inequalities. The relationship between the pace of technological change and the dynamics of income inequalities has been first suggested by Kuznets (1955), but found little elaboration and...

This paper elaborates the microeconomic foundations of the demand pull hypothesis stressing the role of vertical knowledge externalities stemming from the complementarity between know ledge interactions and user-producer transactions. The increase in the demand can pull the rate of technological...

We investigate the demand pull effects on sector-level total factor productivity growth. Such effects stem from the knowledge interactions carried by the market Transactions of intermediate inputs between competent customers and innovative suppliers. Both knowledge interactions and transactions...

This paper examines the development of total factor productivity (TFP) and the drivers of TFP for a panel of 17 EU countries in the period of 1995-2007. We estimate aggregated and sectoral TFP for 17 EU countries by means of the augmented mean group estimator to control for endogeneity,...

This paper investigates empirically the occurrence of pecuniary knowledge externalities at the sectoral level across European economies. The main results suggest that, although some sectors can be considered as playing a particularly important role as a source of pecuniary knowledge...

The aim of the paper is to discuss and to provide evidence for the existence of pecuniary knowledge externalities, considered here as the main cause of positive disequilibrium experience by downstream producers. This last effect, confirmed by the empirical analysis here performed, contrasts the...

In a dynamic panel framework, I investigate the qualitative aspects of factors determining current account imbalances in (country groupings within) the European Union. I consider the standard determinants of current account positions discussed in the past literature, but additionally, I include...

The paper presents a new sectoral taxonomy that focuses on the existence of non negligible external effects, deriving from user-producer knowledge interactions, the latter in turn coupled with intermediate goods transactions, in a system of vertically integrated manufacturing and services...

In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a...