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We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...
Persistent link: https://www.econbiz.de/10011667675
The history of Italy since her unification in 1861 reflects the two-way relationship between foreign trade and economic …, Italy's comparative advantage changed fundamentally over the last 150 years. The composition of trade, in terms of both … document and analyze these changes. We will conclude with an assessment of Italy's prospects from a historical perspective …
Persistent link: https://www.econbiz.de/10013084820
Many papers have been written about the effect of firm size on innovativeness, revealing a positive, a negative or a mixed impact. To this day, the so-called Schumpeterian hypothesis of the above-average innovativeness of large firms has neither been confirmed nor rejected, often because of...
Persistent link: https://www.econbiz.de/10009024442
The history of Italy since her unification in 1861 reflects the two-way relationship between foreign trade and economic …, Italy's comparative advantage changed fundamentally over the last 150 years. The composition of trade, in terms of both … document and analyze these changes. We will conclude with an assessment of Italy's prospects from a historical perspective. …
Persistent link: https://www.econbiz.de/10010548013
The history of Italy since her unification in 1861 reflects the two-way relationship between foreign trade and economic …, Italy's comparative advantage changed fundamentally over the last 150 years. The composition of trade, in terms of both … document and analyze these changes. We will conclude with an assessment of Italy's prospects from a historical perspective. …
Persistent link: https://www.econbiz.de/10009364459
The paper presents trade policy as in line with that of other continental European powers, with a move to moderate levels of tariff protection for politically sensitive sectors such as steel and textiles and clothing, but also in agriculture, with levels of protection falling slightly before the...
Persistent link: https://www.econbiz.de/10014159592
This paper presents the new yearly series of the value-added of services for Italy, from 1861 to 1951, at current …
Persistent link: https://www.econbiz.de/10011123651
than the overall economy. Behind the dynamics of aggregate trade, Italy’s comparative advantage changed fundamentally over … foreign trade at a high level of disaggregation to document and analyze these changes. We conclude with an assessment of Italy …
Persistent link: https://www.econbiz.de/10011083644
The aim of this article is to analyze the role of energy in longterm economic growth. Particular attention will be paid to the relation between energy and GDP. Energy productivity, that is the ratio of output to energy (Y/E), will be reconstructed and, through a decomposition analysis, I will...
Persistent link: https://www.econbiz.de/10010858726
, computer technology and work organization, especially text and image processing in the graphic industries, that was named … technological change. Corporations developing technology usually pursued increased efficiency in production, while the labour …
Persistent link: https://www.econbiz.de/10005206978