DOCSLIB.ORG

UNIVERSITÀ POLITECNICA DELLE MARCHE FACOLTÀ DI ECONOMIA “GIORGIO FUÀ” Phd in Economics XXXI Cycle

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
UNIVERSITÀ POLITECNICA DELLE MARCHE FACOLTÀ DI ECONOMIA “GIORGIO FUÀ” Phd in Economics XXXI Cycle UNIVERSITÀ POLITECNICA DELLE MARCHE FACOLTÀ DI ECONOMIA “GIORGIO FUÀ” PhD in Economics XXXI cycle PhD Dissertation STRUCTURAL CHANGE, TECHNOLOGY AND INCOME DISTRIBUTION PhD candidate Andrea Coveri Supervisor: PhD Coordinator: Prof. Alberto Russo Prof. Riccardo Lucchetti Prof. Mario Pianta Table of Contents Summary ……………………………………………………………………………………….………….… 7 Chapter 1. Structural Change: Theory and Data 1. Introduction .................................................................................................................................................. 13 2. Investigating structural change: a review ..................................................................................................... 14 2.1 The foundations ...................................................................................................................................... 14 2.2 The Neoclassical approach ..................................................................................................................... 16 2.3 The Post-Keynesian approach ................................................................................................................ 17 2.4 The Neo-Schumpeterian approach ......................................................................................................... 23 3. Combining structural change and evolutionary perspectives ....................................................................... 25 4. Data: the Sectoral Innovation Database ........................................................................................................ 29 4.1. The SID ................................................................................................................................................. 29 4.2 Data for structural analysis: the variables ............................................................................................... 29 4.3 The time structure of the database .......................................................................................................... 31 Chapter 2. The Determinants of Structural Change: Demand, Technology and Offshoring 1. Introduction .............................................................................................................................................. 35 1.1 Manufacturing vs. Service industries ..................................................................................................... 35 1.2 High-tech vs. Low-tech industries .......................................................................................................... 36 1.3 Core vs. Peripheral countries .................................................................................................................. 36 1.4 Upswing vs. Downswing of business cycle ............................................................................................ 37 2. Data and descriptive evidence ...................................................................................................................... 39 2.1 The economic performance of countries ................................................................................................ 40 2.2 The sectoral composition of the economies............................................................................................ 42 2.3 Innovation patterns and productive specialization ................................................................................. 46 2.4 Innovation and economic growth ........................................................................................................... 50 2.5 Demand and economic growth ............................................................................................................... 53 2.6 The offshoring dynamics ........................................................................................................................ 55 2.7 Offshoring and economic growth ........................................................................................................... 58 3. The model ..................................................................................................................................................... 61 3.1 The structural change equation ............................................................................................................... 61 3.2 Econometric strategy .............................................................................................................................. 62 3 4. Results .......................................................................................................................................................... 63 5. Conclusions .................................................................................................................................................. 76 Appendix of Chapter 2 ..................................................................................................................................... 79 Chapter 3. Structural Dynamics of Income Distribution: Technology, Wages and Profits 1. Introduction .............................................................................................................................................. 85 2. State of the art and proposed approach ..................................................................................................... 86 2.1 Labour productivity ................................................................................................................................ 89 2.2 Innovation ............................................................................................................................................... 90 2.3 Offshoring............................................................................................................................................... 91 2.4 Union density .......................................................................................................................................... 93 3. The database ............................................................................................................................................. 94 4. Descriptive evidence on income distribution dynamics ........................................................................... 96 4.1 The role of technology ............................................................................................................................ 97 4.1.1 Technology and income distribution patterns .................................................................................. 98 4.1.2 Technology and profits .................................................................................................................... 99 4.1.3 Technology and wages .................................................................................................................. 102 4.2 The role of offshoring ........................................................................................................................... 104 4.3 The role of trade unions ........................................................................................................................ 108 5. A simultaneous model for the dynamics of profits and wages ............................................................... 110 5.1 The wage equation ................................................................................................................................ 110 5.2 The profit equation ............................................................................................................................... 111 5.3 Econometric strategy ............................................................................................................................ 112 6. Results .................................................................................................................................................... 114 6.1 The estimated wage equation ............................................................................................................... 114 6.2 The estimated profit equation ............................................................................................................... 115 6.3 The wage-profit SURE model .............................................................................................................. 116 6.4 Further evidence using a different product innovation proxy .............................................................. 120 6.4.1 Results of the equation-by-equation estimation strategy ............................................................... 120 6.4.2 Results of the wage-profit SURE model ....................................................................................... 121 7. Conclusions ............................................................................................................................................ 125 Appendix of Chapter 3 ................................................................................................................................... 127 A.1 The wage equation: robustness checks ................................................................................................ 127 A.2 The profit equation: robustness checks ................................................................................................ 131 4 Chapter 4. A Sequential Model of Income Distribution 1. Introduction ...........................................................................................................................................
Load more

Recommended publications
  • Views and Comments Much-Quoted "Argument" on Gold with Jacques Rueff
    Mr. Hirsch is the author of The Pound Sterling: A Polemic, and of numerous articles, including a views and comments much-quoted "argument" on gold with Jacques Rueff. The author was graduated from Excerpts from the statement of "As regards this combination of the London School of Economics the Secretary-General of the converging measures, it is essential in 1952, when he became a United Nations Conference that the industrial centers should financial journalist. He was on Trade and Development afford greater access to their markets for the exports of the financial editor of The Economist (UNCTAD), Raul Prebisch, at from 1963 to 1966. peripheral countries. the 39th plenary meeting of In 1966 he joined the staff of the Conference in New Delhi, "Similarly, the centers must the International Monetary Fund February 2, 1968. increase their flow of financial as a Senior Advisor in the "In my opinion, the starting resources in order to accelerate Research and Statistics point here must be recognition the rate of growth of the Department. "Since this book has of the following principles: peripheral countries. These been finished in midstream resources should be accessible to between my old position on The "Development is the primary countries showing their Economist and my new one at the responsibility of the countries that determination to shoulder this International Monetary Fund," he propose to develop. responsibility. Their determination notes in the Preface, "it is plain "In order to discharge this to develop will be very limited in that neither organization can have responsibility, the peripheral scope unless this flow of resources any responsibility for the text." countries need the cooperation is adequate.
    [Show full text]
  • Sraffa and the Reconstruction of Economic Theory: Volume Two Aggregate Demand, Policy Analysis and Growth
    Sraffa and the Reconstruction of Economic Theory: Volume Two Aggregate Demand, Policy Analysis and Growth Edited by Enrico Sergio Levrero Antonella Palumbo and Antonella Stirati Copyright material from www.palgraveconnect.com - licensed to University of Sydney - PalgraveConnect - 2014-01-27 - PalgraveConnect of Sydney - licensed to University www.palgraveconnect.com material from Copyright 10.1057/9781137319166 - Sraffa and the Reconstruction of Economic Theory: Volume Two, Edited by Enrico Sergio Levrero, Antonella Palumbo and Antonella Stirati Sraffa and the Reconstruction of Economic Theory: Volume Two Aggregate Demand, Policy Analysis and Growth Edited by Enrico Sergio Levrero Antonella Palumbo and Antonella Stirati Copyright material from www.palgraveconnect.com - licensed to University of Sydney - PalgraveConnect - 2014-01-27 - PalgraveConnect of Sydney - licensed to University www.palgraveconnect.com material from Copyright 10.1057/9781137319166 - Sraffa and the Reconstruction of Economic Theory: Volume Two, Edited by Enrico Sergio Levrero, Antonella Palumbo and Antonella Stirati Contents List of Tables and Figures vii Preface ix Acknowledgements xi List of Contributors xii Introduction 1 Antonella Palumbo Part I Demand-Led Growth in the Classical Approach 1 Public Debt and Aggregate Demand: Some Unconventional Analytics 15 Roberto Ciccone 2 The Inevitable Dependence of Investment on Expected Demand: Implications for Neoclassical Macroeconomics 44 Fabio Petri 3 The Meaning of Output Trends in the Analysis of Growth 68 Attilio Trezzini 4 Potential Output and Demand-Led Growth 92 Antonella Palumbo 5 A Historical Approach to Demand-Led Growth Theory 120 Matthew Smith 6 Normal Paths of Growth Shaped by the Supermultiplier 139 Óscar Dejuán 7 The Pattern of Economic Growth of the Brazilian Economy 1970–2005: A Demand-Led Growth Perspective 158 Fabio N.
    [Show full text]
  • La Rotta D'europa
    Sbilanciamoci/ il manifesto La rotta d’Europa 2. La politica a cura di Rossana Rossanda e Mario Pianta sbilibri 3 | www. sbilanciamoci.info/ebook | aprile 2012 www.sbilanciamoci.info La rotta d’Europa 2.La politica a cura di Rossana Rossanda e Mario Pianta La crisi finanziaria e le alternative per l’Europa. Il dibattito di Sbilanciamoci! e il manifesto La campagna Sbilanciamoci! e il sito www.sbilanciamoci.info sono autofinanziati. Per contribuire alle iniziative e sostenere il lavoro che ha prodotto questo e-book versa un contributo: • online, all’indirizzo www.sbilanciamoci.info/Finanziamoci • con un bonifico sul conto corrente bancario intestato a: Lunaria" n° 1738 – IBAN IT45L0501803200000000001738 Banca Popolare Etica, Via Parigi 17, 00185, Roma specificando la causale "contributo per sbilanciamoci.info" e indicando il proprio nome e cognome. • al momento della dichiarazione dei redditi, destinando il tuo 5 per mille a Lunaria (codice fiscale 96192500583). Indice Volume 1. L’economia 8 Presentazione Le domande 11 Le crisi senza Unione Rossana Rossanda L’economia europea e la crisi 17 I perché della crisi Mario Pianta 23 L’Europa della troika. Intervista a Luciano Gallino 27 Se governa la finanza. Intervista a Giorgio Lunghini 30 L’euro come scialuppa di salvataggio? Immanuel Wallerstein 33 Oltre l’euro Claudio Gnesutta 39 La politica del pensiero unico Guido Viale 43 Se la politica si riprendesse la moneta Daniela Palma, Paolo Leon, Roberto Romano, Sergio Ferrari 47 L’idea di Europa fra utopia, realismo e lotta Sergio Cesaratto 51 All’Europa serve un “new deal” di classe Riccardo Bellofiore www. sbilanciamoci.info/ebook 57 Un contratto sociale per gli indignados d’Europa Nicola Melloni sbilibri 3, aprile 2012 64 Europa: l’eclisse della ragione e della democrazia Sergio Bruno Questo e-book può essere scaricato gratuitamente dal sito 71 Crisi in Europa e Usa.
    [Show full text]
  • Inequalities, Commons, and Elections in Rome Districts from 2000 to 2013
    Munich Personal RePEc Archive Changes in the Eternal City: Inequalities, commons, and elections in Rome districts from 2000 to 2013 Tomassi, Federico 30 May 2014 Online at https://mpra.ub.uni-muenchen.de/56227/ MPRA Paper No. 56227, posted 04 Jun 2014 08:56 UTC Changes in the Eternal City: Inequalities, commons, and elections in Rome districts from 2000 to 2013 Federico Tomassi* Abstract In city districts in Rome, social and economic inequalities between centre and peripheral belts have been increasing over the last years, in parallel to the on-going suburban sprawl. Electoral data from 2000 to 2013 highlight sharp political polarization too. Votes for left-wing (right- wing) candidates are directly (inversely) proportional to proximity to Capitoline Hill. Left-wing coalition prevails where social centrality exists, that is in dense districts with widespread social relationships and many public or collective places. Conversely, right-wing parties prevail in far- off sprawled areas, with less opportunities to meet each other, where production and consump- tion of relational goods are less likely. Since such goods – according to scholars of civil eco- nomics – foster individual well-being and local development, they also affect political choices, challenging the so-called traditional ‘red belt’ in working-class districts until the 1980s. Keywords City planning, commons, elections, Italy, relational goods, social capital. JEL Classification H41; R14; Z13. * Ministry of Economic Development, Via Molise 2, I-00187 Roma, Italy; email: [email protected]. This is a totally revised and updated version of a paper initially published in Italian language in Rivista di Politica Economica, No.
    [Show full text]
  • A COMPENDIUM of ITALIAN ECONOMISTS at OXBRIDGE Contributions to the Evolution of Economic Thinking
    A COMPENDIUM OF ITALIAN ECONOMISTS AT OXBRIDGE Contributions to the Evolution of Economic Thinking Mauro Baranzini and Amalia Mirante A Compendium of Italian Economists at Oxbridge Mauro Baranzini • Amalia Mirante A Compendium of Italian Economists at Oxbridge Contributions to the Evolution of Economic Thinking Mauro Baranzini Amalia Mirante University of Lugano SUPSI Switzerland, and Lincei Academy University of Lugano Rome, Italy Switzerland ISBN 978-3-319-32218-6 ISBN 978-3-319-32219-3 (eBook) DOI 10.1007/978-3-319-32219-3 Library of Congress Control Number: 2016950016 © Th e Editor(s) (if applicable) and Th e Author(s) 2016 Th is work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifi cally the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfi lms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Th e use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specifi c statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Th e publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made.
    [Show full text]
  • The World Bank in Kenya
    Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized WELCOME TO NEW STAFF - JANUARY (Seated L to R): Jennifer Homer. Department of Technical Operations. from Eastbourne. England; and Marlyn Smee. E.D.l•• from Vancouver. (Standing L to R): Helen Moore. Technical Assistance and Planning Stall. from Alexandria; Catherine Cooper. Eevnomic Stall. from Westfield. N.J.; Marion Peters. I.F.C•• from London; and Marie-Therese Clare. Administration Department, from Dublin. Vol. 15 No.3 INTERNATIONAL BANK NOlES March 1961 Published monthly by the Personnel Division, International Balik for Reconstruction and Development, Washington 25, D.C. CONTENTS Page The New Year Honours ••••••••••••••••••••••••••••••••••••••• 3 St. Patrick and the City of Armagh......................... 6 The World Bank in Kenya..................................... 9 What number did you call please?......................... 12 BANK NOTES REPORTERS Office 0/ the President Joyce Johnston Legal Department Verna Via Europe, A/rica and Office 0/ In/ormation Joanna Slusarski Australasia Ann Geanacou Treasurer's Department Lillian Cardash Far East Carol Baber Executive Directors Rida Armbrust South Asia and Middle East Ursula Zieschang I.F.e. Valerie Rowles Western Hemisphere Mae McNeal E.D.I. Myrtle Higgins Technical Operations Ann Fernandez Administration Economic StaR Cecile Lim Personnel Bridget Langfield Technical Assistance and Premier Building Diana Drowley Planning Frances Haughey 8th Floor Jeanne McLennan Office
    [Show full text]
  • Giuseppe Rossi
    Operation of Complex Water Systems Operation, Planning, and Analysis of Already Developed Water Systems NATO ASI Series Advanced Science Institutes Series A series presenting the results of activities sponsored by the NATO Science Committee, which aims at the dissemination of advanced scientific and technological knowledge, with a view to strengthening links between scientific communities The series is published by an international board of publishers in conjunction with NATO Scientific Affairs Division A Life Sciences Plenum Publishing Corporation B Physics London and New York C Mathematical and D. Reidel Publishing Company Physical Sciences Dordrecht and Boston 0 Behavioural and Martinus Nijhoff Publishers Social Sciences Boston/The Hague/DordrechtlLancaster E Applied Sciences F Computer and Springer Verlag Systems Sciences Berlin/Heidelberg/New York G Ecological Sciences Series E: Applied Sciences - No. 58 Operation of Complex Water Systems Operation, Planning and Analysis of Already Developed Water Systems edited by Emanuele Guggino Professor and Director of the Institute for Hydraulics, Hydrology, and Water Management at the University of Catania Catania, Sicily, Italy Giuseppe Rossi Professor at the Institute for Hydraulics, Hydrology, and Water Management at the University of Catania Catana, Sicily, Italy David Hendricks Professor of Civil Engineering at Colorado State University Fort Collins, Colorado, USA 1983 Martinus NiJhoff Publishers ~. A member of the Kluwer Academic Publishers Group l'1li Boston / The Hague / Dordrecht / Lancaster • Published in cooperation with NATO Scientific Affairs Division Proceedings of the NATO Advanced Study Institute on "Operation of Complex Water Systems", Erice, Sicily, May 23 - June 2, 1981 Library of Congress Cataloging in Publication Data NATO Advanced Study Institute on "Operation of Complex Water Systems" (1981 : Erice, Italy) Operation of complex water systems.
    [Show full text]
  • Econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Crespi, Francesco Working Paper Notes on the Determinants of Innovation: A Multi- Perspective Analysis Nota di Lavoro, No. 42.2004 Provided in Cooperation with: Fondazione Eni Enrico Mattei (FEEM) Suggested Citation: Crespi, Francesco (2004) : Notes on the Determinants of Innovation: A Multi-Perspective Analysis, Nota di Lavoro, No. 42.2004, Fondazione Eni Enrico Mattei (FEEM), Milano This Version is available at: http://hdl.handle.net/10419/117920 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz
    [Show full text]