We test the hypotheses of industry return rates either gravitating around or converging towards a common value in Taiwan and New Zealand. We adopt various econometric approaches. The results are then nested in a meta-analytic framework together with those of the past literature. Various kinds of...

Resorting to stationary and nonstationary panel data econometrics, we offer tests for “Ricardo’s 93% theory of value” for ten OECD countries over different time ranges. The theory does not find empirical support. Copyright Springer-Verlag Berlin Heidelberg 2014

In this paper we adopt both a nonparametric and a semi- parametric IV estimator to show that the relationship between inflation and output growth is non-linear and that there exists a threshold level below which ination has no effects on growth.

This paper explores the influence of inflation on economic growth both theoretically and empirically. We propose to merge an endogenous growth model of learning by doing with a New Keynesian one with sticky wages. We show that the intertemporal elasticity of substitution of working time is a key...

We study aggregate profitability dynamics in Italy from 1995 to 2009, by stressing its regional trends. We make use of various analytic approaches, such as decompositions, analysis of the ranking of the profit rate of the various regions and of their coefficient of variation, as well as of a...

We apply recent money illusion tests on data on individual life satisfaction from the Eurobarometer for the period 1980–2003. The null hypothesis of no money illusion cannot be rejected. Different nominal rigidities across European countries and EMU countries, specifically, cannot be explained...

<title>Abstract</title> Considering a sample of 71 Italian metropolitan areas, this paper goes beyond the assumption that a unique core inflationary process exists in a macroeconomy. It shows that local long-run inflation rates can display remarkable variability. On the one hand they are negatively correlated...

The present paper explores the persistence of the deviations between market prices on one side and either production or direct prices on the other - namely their tendency to vanish after being hit by a shock. We consider various countries - Austria, Denmark, Italy, Norway and Japan - across...

Resorting to stationary and non-stationary panel data econometrics we offer tests for "Ricardo's 93% theory of value" for 10 OECD countries over different time periods and aggregation levels. The theory does not find empirical support.