RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2008 - 1

Over the last decade much research has been carried out on the topic of econometric non-stationary panel data, especially because of the availability of new datasets (e.g. the Penn World Tables) in which the time-series dimension and the cross-section dimension are of the same order of magnitude. This paper presents a review of the most recent cointegration tests in a panel framework. This kind of test has been developed to extend the unit root approach to a multivariate context. Panel cointegration tests in literature are twofold, on the one hand there are those which verify the null hypothesis of no cointegration, on the other hand there are those which verify the null hypothesis of cointegration. This paper covers both sides of the subject providing insights on the applicability of these tests.

This paper deals with unemployment crises linked to the so-called general glut problem studied in classical economic theory. Its aim is to compare the main authors who analyzed the issue in order to highlight the differences in their approaches. On the one hand, some economists, such as Ricardo and Say himself, believed in Say’s Law, at the same time taking into consideration the emergence of temporary unemployment, due to technological constraints. On the other hand, Sismondi and Malthus focused their analysis on the role of the demand for goods and on excess production. In particular, the latter outlined a seminal distinction between product innovation and process innovation.

It is generally agreed that poverty cannot be faithfully represented by a single monetary measure. Poverty involves many different aspects of life, and people can be poor in different ways, to different degrees and from several points of view. For this reason, fuzzy multidimensional indicators have been proposed to measure material deprivation. However, the statistical procedures used to build such indicators do not seem to be fully consistent. In this paper we show how partially ordered set theory can help overcome such consistency problems, providing a sound basis for a multidimensional and fuzzy analysis of poverty. In particular, we propose new criteria for defining fuzzy poverty membership functions and give a fuzzy generalization of the notion of quantile, which may prove useful when analyzing and comparing poverty data.

Within the current debate on social priorities, voluntary work has come to the forefront. It is important to collocate appropriately this activity, which involves loyalty and solidarity, within economic theory, recognising its contribution to economic and social development and to improved labour market performance. In this paper, the perspective is «normative» rather than «positive»; in other words, the aim is not to discuss the role of voluntary work in Italy and the world today, but rather to discuss how volunteering should be regulated in order to ensure its contribution to a country’s social and economic growth.

We have estimated the demand for erythropoietin (EPO) using market data from the Scandinavian countries. Assuming that prices are set in a Nash-Bertrand game we determine the degree of competition in this Scandinavian market. We also report on the impact of product innovation on welfare, e.g on consumer (buyer) and producer surplus. The product innovation is the entry of Aranesp onto the Scandinavian market. We find a positive effect in the EPO market related to the introduction of Aranesp. However, the notable increase in expected consumer surplus does not seem to be accompanied by a corresponding increase in expected producer surplus. Some time after the introduction of the innovation, the total surplus does not seem to increase, remaining more or less constant. An important conclusion is that although there are few firms competing in the Scandinavian EPO market, the estimated long-run market power is rather low.