This paper uses the multi-chain Markov Switching model to examine the nature of the volatility transmission across currency, commodity and stock markets, and provide implications for hedging and asset allocation. Results generally indicate the dominant presence of interdependency, as opposed to...

Analysis of managerial efficiency in sport economics typically focuses on evaluating coach decisions instead of assessing the organization as a whole. This paper studies the relative importance of variables related to power and managerial decisions by estimating stochastic production frontiers...

This paper employs provincial data to study the relationship between several crime typologies, namely murder, theft, robbery and fraud, and economic output in Italy. We employ a spatial econometric approach where the spatial proximity is defined by a measure of physical distance between...

We use linked employer-employee data from Italy to explore the relationship between exports and wages. Our empirical strategy exploits the 1992 devaluation of the Italian Lira, which represented a large and unforeseen shock to Italian firms’ incentives to export. The results indicate that the...

This paper investigates the relationship between an adverse health shock - limitation in preforming daily activities - and labour market transitions in twenty-six European countries. The European Union Statistics on Income and Living Conditions dataset is used (2007- 2009). Matching techniques...

I build a dynamic general equilibrium model of a small economy specialized in tourism where visitors are attracted by the stock of existing environmental assets, and the stock of tourism and leisure facilities. Residents, at any date, choose the level of consumption, the number of visitors, and...

Clustering financial time series is a recent topic of statistical literature with important fields of applications, in particular portfolio composition and risk evaluation. The risk is generally linked to the volatility of the asset, but its level of predictability also plays a basic role in...

Arbitration, as an alternative to litigation for contract disputes, reduces costs and time. While it has frequently been thought of as a substitute to pretrial bargaining and litigation, in fact, parties may be able to reach a settlement privately while engaged in the arbitration process....

Endogenous growth theory has deeply influenced regional growth analyses and inspired regional development policies. Evidence of lack of convergence, club convergence and spatial polarization of per worker income levels has led scholars to question the explanatory power of neoclassical exogenous...

As tourism is becoming one of the most important sources of economic growth at the local level, it is imperative to identify and assess the relevant determinants of tourism flows. This paper investigates this issue by carrying out an econometric analysis based on the origin-destination (OD)...