An estimator of the correlation between Italian and U.S. Stock Returns is introduced. The properties of the estimator are invariant with respect to a wide class of GARCH models. The empirical evidence shows the existence of a positive correlation between Italian an U. S. stock returns.

We study a differential game, for the extraction of a renewable resource, in which players are overlapping generations of extractors. The framework of overlapping generation allows us to consider both intragenerational (players in the same generation) and intergenerational (players in different...

Nel corso degli anni l'enorme e sempre crescente disponibilita' di informazioni, soprattutto con l'avvento di Internet, e le innumerevo- li innovazioni nell'ambiente software hanno portato la produzione di applicazioni multimediali ad essere una strategia educativa efficiente ed efficace. Le...

The causal relationship between economic growth and energy consumption represents a widely studied topic in energy economics literature. Although it is very well known that there is a strong correlation between energy use and growth, the issue of causality still remains to be answered. This...

The definition of correlation is generalized to random vectors whose second moment may not exist. The properties of generalized correlation coefficient are investigated with respect to linear transformations and special families of distributions.

Forest fires are one of the main factors of environmental degradation, since they cause wildlife destruction, air pollution problems and consistently contribute to the threat of the hydrogeological equilibrium. For this reason, much effort is generally made to avoid their occurrence. Although a...

This work examines the main theoretical and empirical interpretations of the effects of FDI on the productivity of local firms and, in particular, the way in which productivity spillovers are related to regional differences. In studying the Italian manufacturing sector, using cross-sectional...