The paper proposes a novel methodology to assess the role of “location” in shaping firm growth. Along with traditional determinants (e.g., age, size and financial constraints), geographical location is alleged to drive firm growth. The...

The bilateral netting of mutual obligations is an institutional arrange- ment usually employed in payment systems to reduce settlement risks. In this paper we explore its advantages and pitfalls when applied to an inter- bank lending market, in which banks extend credit to nÃÉand borrow from...

The outbreak of the financial crisis of 2007 has generated a lively debate on the real or alleged faults of the Federal Reserve (Fed). Some economists argue that in the period 2002-2005 the U.S. central bank has taken its target interest rate below the level implied by monetary pricinciples that...

The Chinese growth model has generated domestic imbalances and social problems. The Chinese leadership is aware of the urgency to address these problems and improve the quality of the growth process. Engineering a successful change (ensuring more even distribution of national income, as well as...

The current consensus in macroeconomics, or New Neoclassical Synthesis (NNS), is based on dynamically stochastic general equilibrium (DSGE) modeling with a RBC core to which nominal rigidities are added by way of imperfect competition. The strategy is to minimize the frictions that are required...

n the context of Choquet integration with respect to symmetric capacities, we consider the binomial decomposition of OWA functions in terms of the binomial Gini welfare functions Cj , j = 1, ..., n, and the associated binomial Gini inequality indices Gj , j = 1, ..., n, which provide two...

In questo paper si analizza il modello di scoring del Fondo Centrale di Garanzia (FCG), mettendo in evidenza i cambiamenti avvenuti con la modifica del criteri di valutazione delle imprese introdotti con il decreto "Fare" (Decreto-legge del 21/06/2013, n.69, divenuti operativi dal 10/3/2014), e...

The proper characterization of the size distribution of business firms represents an important issue in economic literature, with the most common reference distribu- tions being the lognormal and the Pareto varieties. This analysis is related to some methodological issues that are rarely...

This paper o¬¨√üers additional evidence on the structure of the international financial network as emerging from the Coordinated Portfolio Investment Survey (CPIS) dataset collected by the IMF. Making use of blockmodeling techniques which allow us to ‚àöñt a given...

The presence of knowledge spillovers and shared human capital is at the heart of the Marhall-Arrow- Romer externalities hypothesis. Most of the earlier empirical contributions on knowledge externalities, however, considered data aggregated at a regional level so that conclusions are based on the...