Il presente lavoro introduce la possibilità di astensione dal voto nel modello di competizione politica spaziale à la Downs (1957), con l’intento di analizzare in che modo le decisioni di partecipazione/astensione, congiuntamente alla distribuzione degli elettori lungo lo spazio politico, influenzano il posizionamento strategico dei partiti e, quindi, l’equilibrio politico. In particolare, dopo una rassegna dei più interessanti contributi esistenti in letteratura, proposti come casi speciali di un unico modello generale, il lavoro si concentra sull’astensione da alienazione analizzando la relazione intercorrente tra le piattaforme elettorali in equilibrio, la tolleranza degli elettori e la loro distribuzione lungo l’intervallo di politiche. Infine, lo studio empirico sulla partecipazione al voto degli elettori nelle elezioni politiche italiane del 2008 mira ad individuare la relazione tra le caratteristiche individuali (socio-demografiche, attitudinali, di percezione del sistema politico) e la propensione all’astensione per indifferenza e/o alienazione, nonché ad esaminare la componente di astensione politica, ovvero verificare come l’impatto relativo di alienazione e indifferenza sull’astensionismo sia influenzato dalle posizioni politiche (ideologiche...
The behavior of banks and the determination of retail interest rates have taken a prominent
role after the recent financial crisis: high levels of the cost of credit and quantity rationing are
characterizing the actual economic environment. Monetary policy has sought to address the setting
of bank rates by continuous operations on the monetary policy rate. Nevertheless, the adjustment
of bank rates has not been complete.
The aim of this dissertation is to show that the incomplete pass-through of policy rate changes
on the loan rate may depend also on market frictions, in particular those existing in the credit
market. To this aim, we present three self-contained but highly correlated papers in which we
discuss the role of these frictions, and their interplay with those existing in the labor market, on
the size of the interest rate pass-through and its relevance in shaping business cycle dynamics. The
study of interest rate dynamics also allows us to focus on the cyclical behavior of the credit spread,
which is often used as a leading indicator of the economic activity. In order to shed light on these
issues, we employ a New Keynesian framework (Walsh, 2003) which offers a convenient setting for
monetary policy analysis. What is relevant in this model is the so-called “cost channel” that links
the current and the expected future real marginal costs of the productive sector of the economy
with inflation and then with the business cycle dynamics. If...
This Ph.D. thesis builds on the new empirical industrial organization (NEIO) literature trying to use market data to determine fundamental market drivers such as demand parameters, entry and investment thresholds or the level and development of competition in the market.
The thesis addresses two sectors: telecommunications (high-speed internet as well as fixed telephony) and media (newspaper sellers).
It is divided in three articles
1) Geographic regulation and cooperative investment in next generation broadband networks
A review of recent literature and practical cases
This article reviews the theoretical and empirical literature on geographic regulation and co-investments in next generation broadband. Alternative telecom operators have continuously invested in their own infrastructure in recent years. After more than a decade since liberalisation, competitive conditions have substantially changed, especially in urban areas. European regulatory authorities have acknowledged this development by starting regional deregulation. Additionally, different forms of cooperative investments in next generation broadband have appeared on the market. The effects of such schemes on competition, investment and welfare crucially depend on the fine details of implementation. For instance...
By large, contemporary economic literature assumes that economic behaviour can be explained by means of a same process applying to all individuals, at most exhibiting quantitative differences in the extent of certain individual properties (the approach of heterogeneity). Some heterodox approaches, as well as other social sciences, assume instead that individuals can conveniently be grouped into aggregates, each subject to its own laws of behaviour, fundamentally influenced by the socioeconomic environment (the approach of diversity).
This works uses methods of analysis proper of the history of economic thought as well as of applied economics, to propose that both the approaches may be considered relevant for economic analysis. It investigates works by Schmoller and Mill, discussing their methodological positions (especially concerning the use of aggregative analysis) and their theories of behaviour. Gender diversity is taken as a crucial example of the relevance of considering the socioeconomic determination of behaviour, i.e. diversity, besides heterogeneity. Mill and Schmoller’s economic analyses do not ignore parametric differences between men and women, but they fundamentally relate gender inequality and the observed differences of behaviour to power relations and the division of labour. The work applies this approach to the gender analysis of the determinants of employment status.
This thesis contributes to the general equilibrium modelling of monetary economies from both the theoretical and empirical perspectives. Research outcomes are summarized in three original research papers.
The first introduces a non zero sovereign and private default probability in a large scale monetary, open economy, search and matching model. The main research objective is testing whether the emergence of a financial wedge modelled in the form of a sovereign risk channel can reduce the size or even reverse the sign of the Keynesian fiscal multiplier, conditional to alternative fiscal consolidation measures. The subset of the model parameter space that satisfies the empirical identification requirements issubset of the model parameter space that satisfies the empirical identification requirements is estimated with Bayesian techniques using a large set of data of EZ peripheral countries (Greece, Ireland, Italy, Portugal and Spain). From stochastic simulation analyses conducted at the posterior mean estimates posterior simulations it is shown that the unconditional relation between sovereign risk and macroeconomic fundamentals is weak, and that fiscal contractions are self-defeating, such that the sovereign risk channel, contrary to the theoretical predictions of a recent literature...