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Working paper
Policy tolerance of economic crime? An empirical analysis of the effect of counterfeiting on Italian trade
In: European Journal of Political Economy, Band 65, S. 101933
Sectoral composition of output and the wage share: The role of the service sector
In: Structural change and economic dynamics, Band 51, S. 1-10
ISSN: 1873-6017
Bureaucratic reshuffling and efficiency. Do n-competing bureaus determine inefficient results?
Governments often support their preferences for decentralized (centralized) bureaucracies on the grounds of efficiency considerations (production side). Here, we consider the demand side, i.e., whether the government perception of citizens' demand for differentiated goods/services might increase efficiency by simply reshuffling bureaucratic production activities. We represent the budgetary process—between an incumbent governing party and n-competing bureaus producing differentiated goods/services—as a simultaneous Nash-compliance game with complete information. On these grounds, we analyse—in terms of public production, players' rents and payoffs—the effects of increasing competition (as for the number of bureaus) in the political–bureaucratic market. Moreover, we evaluate, ceteris paribus, the effects of bureaucratic reshuffling from the point of view of society, assumed to prefer those policies that approximate social efficiency by minimizing bureaucratic and political rents.
BASE
Public debt sustainability. An empirical study on OECD countries
For a panel of 21 OECD heterogeneous countries from 1991 to 2015, we study governments' reactions to the accumulation of debt and look at whether governments voluntary take corrective measures when the debt-GDP ratio starts rising or they rather let the debt grow. We distinguish between discretionary and automatic response of primary balance of government actions, as captured by the structural component of public primary balance and by cyclical component of public primary balance. We show the existence of a systematic long-term relationship between debt and structural primary balance supporting the view that the long-term governments' discretionary response to increases in the debt-GDP ratio is negative, that is, governments are not currently taking long-term actions that counteract the increases in debts and do not satisfy the intertemporal budget constraint. In the short term, an asymmetric fiscal policy response exploiting the output gap, by part of the political class of the countries considered, seems to emerge: it intervenes with a new deficit and debt when the output gap is positive, but it does not adopt a symmetrical correction when the situation is reversed.
BASE
SSRN
Bounded rationality and heterogeneous expectations: Euler versus anticipated-utility approach
In: Journal of economics, Band 130, Heft 3, S. 249-273
ISSN: 1617-7134
An Integrated Bayesian-Pca Approach to Macroeconomic Resilience: The Case of Central Europe and Baltic Macro-Region
In: IREF-D-23-01227
SSRN
An evaluation of alternative fiscal adjustment plans: The case of Italy
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 42, Heft 3, S. 699-711
ISSN: 0161-8938
WITHDRAWN: An evaluation of alternative austerity plans: The case of Italy
In: Journal of policy modeling: JPMOD ; a social science forum of world issues
ISSN: 0161-8938
A Stochastic Estimated Version of the Italian Dynamic General Equilibrium Model (IGEM)
In: Government of the Italian Republic (Italy), Ministry of Economy and Finance, Department of the Treasury Working Paper No. 3
SSRN
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