Table Of ContentEdited by
Pasquale De Muro, Saverio M. Fratini and Alessia Naccarato
W
This book collects some of the papers presented during A ECONOMICS,
the Research Days held at the Department of Economics L
of Roma Tre University, on May 16 and 17, 2019. Besides D POLICY AND LAW
N
two plenary sessions – opening and closing – eight parallel
A
sessions took place, during which as many as 30 contributions
Y Proceedings of the Research Days
were presented. The topics mirrored the main research C
interests of the Department: micro and macro economic LI Department of Economics
O
theory; fiscal, environmental and integration policies;
P
personal and functional income distribution; international
S,
trade; finance and banking; quantitative methods. C
MI
O
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O
C
Pasquale De Muro is associate professor of Economic E
Policy, Roma Tre University.
Saverio M. Fratini is full professor of Economics, Roma Tre
University. s.)
d
Alessia Naccarato is associate professor of Statistics, (E
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1 1 Collana
Dipartimento di Economia
2020
Università degli Studi Roma Tre
Dipartimento di Economia
ECONOMICS,
POLICY AND LAW
Proceedings of the Research Days
Department of Economics
Edited by
Pasquale De Muro, Saverio M. Fratini and Alessia Naccarato
1 Collana
Dipartimento di Economia
2020
Dipartimento di Economia
COLLANA
n. 1, ottobre 2020
Economics, Policy and Law
Proceedings of the Research Days
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Contents
Introduction 7
P. De Muro, S.M. Fratini and A. Naccarato
List of contributors 11
1. Fiscal multipliers of public consumption in Italy 13
A. Baldini and M. Causi
2. Testing evenness multigroup residential segregation indexes using regular
lattice data. A first investigation on the major Italian Functional Urban Areas 47
F. Benassi and A. Naccarato
3. On the social irrationality of the limits to public debt 62
R. Ciccone
4. Incomes from capital in alternative economic theories 89
S.M. Fratini
5. ‘Ecological contract’ and green economy 110
F. Longobucco
6. Integration of third country nationals and the European Union:
an opportunity not to be missed 113
V. Piergigli
7. Financialisation of non-financial corporations,
globalization and capital accumulation 138
G. Scarano
8. A multidimensional performance indicator
to evaluate the effectiveness of Italian university education 163
S. Terzi and F. Petrarca
9. The debate on capacity adjustment
in the Classical-Keynesian approach: a brief historical account 171
A. Trezzini and A. Palumbo
10. What are the risk drivers in the banking system?
The fundamental betas of European banks 200
D. Venanzi
Introduction
Department of Economics Research Days 2019
P. De Muro, S.M. Fratini and A. Naccarato
This book collects some of the papers presented during the Research
Days held at the Department of Economics of Roma Tre University, on
May 16 and 17, 2019. Although this was the first time that such an
initiative was organized in our Department, thanks to our colleagues we
found a remarkable success of participation. Besides two plenary sessions
– opening and closing – eight parallel sessions took place, during which
as many as 30 contributions were presented. Below is a list of the sessions
and papers that were presented in each of them.
A!.1 – Fiscal Policy
Chairperson: A. Di Maio
G. Bloise, H. Polemarchakis, Y. Vailakis – Sustainable debt
A. Baldini and M. Causi – Fiscal multipliers of public consumption
• in Italy
• R. Ciccone – On the social irrationality of the limits to public debt
M. Deleidi, F. Iafrate and E.S. Levrero – Public investment fiscal
• multipliers: An empirical assessment for the European Countries
•
A.2 – Policy and Integration
Chairperson: F. De Filippis
R. Crescenzi, G. de Blasio and M. Giua – Cohesion Policy
incentives for collaborative industrial research: evaluation of a Smart
Specialisation forerunner programme
•
F. Benassi and A. Naccarato – The foreign presence in Italy:
characteristics of territorial integration
•
7
Economics, Policyandlaw
V. Piergigli – The integration of TCN’s in the supranational law:
limits and potentiality of the European Union
• S. Terzi and F. Petrarca – A multidimensional performance
indicator to evaluate the effectiveness of Italian university education
•
B.1 – Income Distribution
Chairperson: S. Fadda
T. Bechini and P. De Muro – A multidimensional analysis of
inequality in Italy, before and after the Great Recession
• S.M. Fratini – Incomes from capital in alternative economic theories
E. Pierucci – Redistribution and international/intranational risk
• sharing: channels and determinants
F. Gastaldi, P. Liberati, E. Pisano and S. Tedeschi –
•
Regressivity-Reducing VAT Reforms
•
B.2 – Finance and Banking
Chairperson: F. Fiordelisi
! M. Atripaldi – Supervision by Bundesanstalt für
Finanzdienstleistungsaufsicht (Bafin) of financial and banking
activities in Germany
•
G. Scarano – Financialisation of non-financial corporations,
globalization and capital accumulation
• M. Tirelli – On the optimal investment finance of small businesses
D. Venanzi – What are the risk drivers in banking system?
• The fundamental betas of European banks
•
C.1 – Macroeconomics
Chairperson: R. Ciccone
M.C. Cucciniello, M. Deleidi and E.S. Levrero – The price puzzle
for the US economy: an empirical assessment of the cost channel
• M. Deleidi, W. Paternesi Meloni and A. Stirati – Structural
change, labour productivity and the Kaldor-Verdoorn law: evidence
from European countries
•
8
P. de muro, s.m. Fratini, a. naccarato introduction
A. Trezzini and A. Palumbo – A historical analysis of the debate on
capacity adjustment in the ‘modern classical approach’:
dealing with complexity in the theory of growth
•
D. Girardi, W. Paternesi Meloni and A. Stirati – Persistent effect
of autonomous demand expansions
•
C.2 – Energy and Environment
Chairperson: V. Termini
F. Benedetto, L. Mastroeni and P. Vellucci – Do oil and
agricultural commodity prices co-move?
• V. Costantini, F. Crespi, E. Paglialunga and G. Sforna – System
transition and structural change processes in the energy efficiency of
residential sector: evidence from EU countries
•
F. Longobucco – Ecological contract and green economy
L. Mastroeni and P. Vellucci – Replication in Energy Markets:
• Use and Misuse of Chaos Tools
•
D!.1 – Bayesian Networks and Sentiment Analysis
Chairperson: F. Lagona
F. Benedetto – Sentiment Analysis for Brand Monitoring in
Twitter Social Streams
• C. Conigliani, T. Petitti and V. Vitale – Bayesian networks for the
analysis of inpatient admissions
• D. Marella and P. Vicard – Toward an Integrated Bayesian
Network Approach to Measurement Error Detection and Correction
•
D.2 – International Trade
Chairperson: A. Simonazzi (Sapienza – Università di Roma)
M. Agostino, A. Giunta, D. Scalera and F. Trivieri – Italian
firms in global value chains: Updating our knowledge
J. Baliè, D. Del Prete, E. Magrini, P. Montalbano and S. Nenci –
•
Trade Policy, Global Value Chains and Developing Countries
• S. Nenci and L. Salvatici – New features, forgotten costs and
counterfactual gains of the international trading system
•
9
ECONOMICS, POLICYANDLAW
The ten contributions published here, therefore, represent just
over a third of the total amount of works discussed during the Research
Days. So, on the one hand, we thank the authors for responding to the
call-for-papers from which this volume arose – thus renouncing to an
editorial collocation of their works that could be most valuable according
to the current evaluation criteria of research and scholars. On the other,
we regret that some sessions are not represented here.
However, the papers published here cover a wide range of topics,
concerning theoretical and applied economics, economic policy,
statistical methods, institutional and legal issues. Baldini and Causi
(ch.1) and Ciccone (ch.3) deal with fiscal policy from both an empirical
and a theoretical point of view. The economic and statistical assessment
of relevant social phenomena and public interventions is the topic
considered by Benassi and Naccarato (ch. 2) and Petrarca and Terzi (ch.
8). Fratini (ch. 4) and Trezzini and Palumbo (ch. 9) provide
contributions in the field of economic theory, at both a micro and macro
level. Longobucco’s paper (ch. 5) tackles some legal aspects related to
ecological economics. European integration is the topic of Piergigli’s
paper (ch. 6). Finally, issues related to finance and banking system are
addressed in the papers by Scarano (ch. 7) and Venanzi (ch. 10).
All the papers have benefited from a peer-review process.
Rome, October 2020
10
