Alberto Zazzaro | Università Politecnica delle Marche, Italy (original) (raw)

Uploads

Papers by Alberto Zazzaro

Sui divari di sviluppo economico tra le regioni italiane e sui processi di convergenza nel reddit... more Sui divari di sviluppo economico tra le regioni italiane e sui processi di convergenza nel reddito pro-capite e in altre grandezze reali vi è una letteratura molto ricca e consolidata che ha affrontato diversi aspetti relativi alle determinanti e alle dinamiche temporali in una prospettiva di medio, lungo e lunghissimo periodo (Paci e Pigliaru 1997; Daniele e

In this paper we introduce new definitions of pairwise and multivariate similarity between short-... more In this paper we introduce new definitions of pairwise and multivariate similarity between short-run dynamics of inflation rates in terms of equality of forecast functions and show that in the context of invertible ARIMA processes the Autoregressive distance introduced by Piccolo (1990) is a useful measure to evaluate such similarity. Then, we study the similarity of shortrun inflation dynamics across

The BE Journal of Economic Analysis & Policy, Jan 1, 2007

We estimate a remittance model in which we address endogeneity and reverse causality relationship... more We estimate a remittance model in which we address endogeneity and reverse causality relationships between immigrants' remittances, pre-transfer income and consumption. In order to take into account the fact that a large share of individuals do not remit, instrumental variable variants of the double-hurdle and Heckit selection models are proposed and estimated by Limited Information ML; semiparametric extensions are considered as robustness checks.

Due dei tratti più caratteristici e dibattuti del capitalismo italiano sono senza dubbio la diffu... more Due dei tratti più caratteristici e dibattuti del capitalismo italiano sono senza dubbio la diffusione di complessi gruppi piramidali–grazie ai quali un ristretto nucleo di famiglie imprenditoriali, con un limitato impegno patrimoniale, ha controllato e controlla stabilmente una parte considerevole della nostra industria [Barca 1997; Bianchi et al.

Abstract We analyse the consequences of trade integration in Europe (1995-2005) detecting how the... more Abstract We analyse the consequences of trade integration in Europe (1995-2005) detecting how the labor costs in partner countries affects the demand for domestic high-and low-skilled labor in the EU-15 and five new member states. In general, independently on the skill level, the results hint at complementarity between domestic and foreign labor.

Over the last ten years there have been great strides made in the analysis of the regional struct... more Over the last ten years there have been great strides made in the analysis of the regional structure and location of banking and financial systems both from the theoretical and empirical point of view1. In this chapter we will deal with the subject by focusing our attention on the experience of the Italian banking system.

Few scholars have seriously considered the possibility that the very existence of an antitrust la... more Few scholars have seriously considered the possibility that the very existence of an antitrust law might make markets less competitive. In this chapter, we provide a selective review of this thought-provoking literature. The focus of our analysis is on contributions within the limits of the neo-classical theory of firms and markets, pointing out that antitrust legislation can hinder price/output competition.

1. All'indomani degli scandali e delle polemiche che hanno travolto i passati vertici di via Nazi... more 1. All'indomani degli scandali e delle polemiche che hanno travolto i passati vertici di via Nazionale, c'era grande attesa per le prime Considerazioni finali del nuovo Governatore della Banca d'Italia Mario Draghi. Va detto che nell'insieme le aspettative non sono andate deluse.

La teoria economica delle professioni si è essenzialmente concentrata sulla individuazione della ... more La teoria economica delle professioni si è essenzialmente concentrata sulla individuazione della razionalità economica esistente dietro i diversi meccanismi di regolamentazione dei mercati professionali e sui suoi possibili effetti sul benessere della collettività. Sono stati invece trascurati gli effetti che i fenomeni di professionalizzazione possono avere sull'allocazione delle capacità lavorative e sulla crescita economica.

Abstract The wave of bank mergers and acquisitions experienced in European and US credit markets ... more Abstract The wave of bank mergers and acquisitions experienced in European and US credit markets during the Nineties has deeply changed the geography of banking industry. While the number of bank branches has increased in almost every country, reducing the operational distance between banks and borrowers, bank decisional centres and strategic functions have been concentrated in only a few places within each nation, increasing the functional distance between banks and local communities.

Abstract A major policy issue is whether troubles in the banking system reflected in the bankrupt... more Abstract A major policy issue is whether troubles in the banking system reflected in the bankruptcy of Lehman Brothers in September 2008 have spurred a credit crunch and, if so, how and why its severity has been different across markets and firms. In this paper, we tackle this issue by looking at the Italian case. We take advantage of a dataset on a large sample of manufacturing firms, observed quarterly between January 2008 and September 2009.

Abstract Mutual Loan Guarantee Societies (MLGSs) are crucial players in credit markets of many Eu... more Abstract Mutual Loan Guarantee Societies (MLGSs) are crucial players in credit markets of many European and non-European countries. In this paper we provide a theory to rationalize the raison d'être of MLGSs. The basic intuition is that the foundation for MLGSs lies in the inefficiencies created by adverse selection, when borrowers do not have enough collateralizable wealth to satisfy collateral requirements and induce self-selecting contracts.

In this chapter we review the academic literature on the role of loan officers in the loan origin... more In this chapter we review the academic literature on the role of loan officers in the loan origination process and lending relationships with small businesses. In particular, we focus on a recent stream of research which recognizes that loan officers–with their behavior, character and even emotions–are a key factor affecting the outcome of bank-firm relationships.

Abstract The paper aims to analyze the determinants of happiness in Italy by using data from the ... more Abstract The paper aims to analyze the determinants of happiness in Italy by using data from the Survey of Household Income and Wealth (SHIW) in 2006. In particular, we focus on the role of relative income on individual self-reported level of happiness. Firstly, according to previous literature we test if there are status (comparison) or signal (informative) effects and if there are some potential asymmetric effects for individuals with lower (losers) and individuals with higher income (winners) than reference group.

In un contesto di crisi europea e globale, a fine 2011 l'economia italiana è ancora all'interno d... more In un contesto di crisi europea e globale, a fine 2011 l'economia italiana è ancora all'interno di una fase recessiva iniziata nel 2008 con il fallimento di Lehman Brothers. Dall'ultima indagine congiunturale della Banca d'Italia (2011a) emerge che i piani di investimento delle imprese rimangono improntati alla cautela e che i fabbisogni di risorse finanziarie esterne sono in forte aumento.

The BE Journal of Economic Analysis & Policy, Jan 1, 2007