This paper assesses the role of competition in explaining efficiency in the Italian manufacturing
industries. Technical efficiency differentials are measured by applying the Data Envelopment Analysis
(DEA) method on a panel of firms from 43 industries at 3- digit level, over the 1983-1991
period. The average level of efficiency of each industry is then related through econometric techniques
to some factors reflecting the degree of competition. Economic literature states that a tougher
competitive environment is efficiency enhancing and we find a negative link between efficiency and
concentration. Moreover, efficiency declines more slowly when the level of concentration is higher,
whereby suggesting a non-linear relationship. These results have policy implications. The processes
of liberalisation and privatisation in Italy should take into account the benefical effects of a more
In this paper we investigate the convenience for a destination to specialize in mass-tourism or in
élite-tourism. We take a micro-economic dynamic perspective, and propose a theoretical model, able
to explain the switch in this kind of specialization, which is easily observed in several cases. We also
study the case in which it is possible for a destination to select a combination between mass – and élite
– tourism and we characterize the optimal degree of composition between these two extreme cases.
International economic sanctions are a recurring feature of political interactions. This paper provides,
through a gravity model approach, an estimation of the impact of sanctions on international
trade. The study reports panel estimates between the US and 49 target countries over the period 1960-
2000, inclusive. The results show that extensive sanctions have a large negative impact on bilateral
trade, while this is not the case for limited and moderate sanctions. A second estimation focuses on
the impact of unilateral US sanctions on bilateral trade between target countries and the other G-7
countries. The results show that unilateral extensive sanctions have also a large negative impact,
while limited ones induce a slight positive effect on other G-7 countries trade. In the first case the hypothesis
of negative ‘network effects’ is confirmed, while in the latter the sanctions-busting argument
should be defended.
We study how immigration policies are determined under voting in a two-country model where
immigration redistributes income from wages to capital. Migration decisions are endogenous, there
exist border enforcement costs and preference for home-country consumption. We model the migration
policy as a pure entry rationing rather than a necessarily porous screening system. Unlike the
existing results of polarization, our findings show that preferences over frontier closure are distributed
on a continuum, going from total closure to total openness. Thus, the Condorcet winning immigration
policy may well be an interior solution. Our results fit the real-life observation that both
perfect closure and perfect openness are rare events. We also study the case of a referendum over two
alternative policies and show that its outcome depends upon the location of the median voter with respect
to the individual indifferent between the two alternatives.
This paper surveys recent research on the link between fiscal policy and growth, in both theoretical
and empirical contexts, focusing on infinite-horizon representative agent models. The goal is to
show the impact on the growth rate derived from the introduction of flat-rate taxes within a wide variety
of models. The analysis discusses one-sector and two-sector models with physical and human
capital involving taxes on income of various kind, with productive and unproductive public expenditure.
Consumption and investment taxes are discussed. A brief review of empirical work is also
presented, together with a discussion of the most recent results concerning optimal taxation. The
paper also contains some remarks about the relationship between taxes and growth within alternative
modelling frameworks, like OLG, which do not form an explicit subject of this survey.
Il nostro magazzino sarà chiuso dal 4 al 25 agosto. Prima della chiusura sarà possibile spedire i volumi ordinati entro la mattina del 30 luglio. Le spedizioni di libri riprenderanno regolarmente a fine agosto. Come sempre, per tutto il periodo estivo, è possibile acquistare con carta di credito e leggere immediatamente ebook, articoli e riviste in abbonamento.
Buona estate dal team VP.