Papers by Enrico P Marelli
Quaderni di ricerca sull'artigianato, 2016
Nel par. 2 si presentano nuove evidenze empiriche sulla crisi che ha colpito l’Italia e l’UE. Il ... more Nel par. 2 si presentano nuove evidenze empiriche sulla crisi che ha colpito l’Italia e l’UE. Il crollo delle componenti della domanda aggregata, con particolare riferimento agli investimenti, è analizzato nel par. 3. Il par. 4 ripercorre gli errori di politica economica compiuti a livello europeo. Il par. 5 illustra alcune proposte per una nuova politica economica ed il par. 6 si sofferma sulle riforme essenziali nella governance dell’Eurozona. Il par. 7 conclud
80th International Atlantic Economic Conference, Oct 11, 2015
Economic & Labour Market Review, 2009
All aged 16 & over 16-17 18-24 25-34 35-49 50-64 (male) and 50-59 (female) 65+ (male) and 60+ (fe... more All aged 16 & over 16-17 18-24 25-34 35-49 50-64 (male) and 50-59 (female) 65+ (male) and 60+ (female)
The chapter emphasises the need for radical changes in EU policies and governance. In the short r... more The chapter emphasises the need for radical changes in EU policies and governance. In the short run, there is an urgent need for an aggregate demand shock exerted through a European plan of public investment (much more extensive than the Juncker plan). This plan, possibly accompanied by the issue of Project Eurobonds, would also stimulate private investments. In regard to long-run reforms, it is necessary to complete the monetary union, with the creation of a Eurozone budget, a Eurozone Finance Minister, etc., in order to realise a Fiscal Union. Thus, a ‘genuine’ Economic Union could be the basis for a future political union. This scenario is the desirable alternative to the possible dissolution of the Eurozone – or even the European Union (EU) as a whole – that could be triggered by the Brexit event.
This chapter begins with consideration of the key features of the European Central Bank (ECB), fr... more This chapter begins with consideration of the key features of the European Central Bank (ECB), from its institutional set-up to its main economic features (such as the much debated independence and conservatism). The ECB’s operation and behaviour – concerning inflation (and other final goals), monetary strategies and key instruments (key interest rates) – are investigated through comparisons with those of other central banks (in particular the Federal Reserve in the United States).
Routledge eBooks, Dec 7, 2022
Questo libro, pur prendendo le mosse dai modelli economici di base e dalle teorie sviluppate dall... more Questo libro, pur prendendo le mosse dai modelli economici di base e dalle teorie sviluppate dalle principali scuole di pensiero, dedica la maggior parte dei capitoli all’illustrazione e spiegazione dei problemi economici concreti, afferenti all’economia mondiale, a quella europea ed infine a quella italiana. In particolare, le attuali e recenti politiche economiche – nel “nuovo scenario europeo e globale” – sono presentate e discusse, anche con riferimento alle decisioni più recenti (fino ad includere, ad esempio, il “quantitative easing” europeo definito ed avviato dalla Bce ad inizio 2015); nel caso delle politiche dell’UE non poteva mancare una valutazione, anche critica, delle politiche d’austerità e della mancanza di una “visione lungimirante”, indispensabile affinché l’Unione economica e monetaria possa rimanere vitale
Applied Economics, May 19, 2016
ABSTRACT This study finds strong empirical evidence in favour of the hypothesis that the age comp... more ABSTRACT This study finds strong empirical evidence in favour of the hypothesis that the age composition of population matters for labour productivity growth. We applied the fixed effects panel model using data on a large number of countries over the period 1980–2010. Our results suggest that higher age dependency not only directly impacts negatively on labour productivity but also modifies the impact of other determinants of labour productivity. Child dependency has a more adverse effect on labour productivity than old age dependency. We specifically find that the marginal effects of gross capital formation, information and communication improvement, and labour market reforms are significant at lower levels of age dependency. However, the marginal effect of savings on labour productivity is high at a high level of age dependency. The impact of age dependency varies between developed and developing economies. Diversity in the size and nature of age dependency across regions and different income groups help to explain the labour productivity differential across them.
Springer proceedings in business and economics, 2020
This paper investigates the impact of global integration on economic growth in a large group—BRIC... more This paper investigates the impact of global integration on economic growth in a large group—BRICS and NEXT-11—of emerging countries and it tries to verify a possible different relation for the second group. The period of analysis is 1980–2015. Our hypothesis is that the impact of global integration (measured as foreign direct investment and share of trade as percentage of GDP) on economic growth is not only direct but also indirect through various other determinants of economic growth. Thus, by using panel data econometric estimation techniques, multiplicative models are estimated. Results show that global integration—both trade openness and FDI inflow—benefits economic growth. The coefficients are however higher in the BRICS group rather than in the complete sample.
In this paper we first review the (potential and actual) role of the Universities for the local e... more In this paper we first review the (potential and actual) role of the Universities for the local economies in which they operate, especially considering the implications deriving from the degree of skill mismatch (over-education) in a local labour market. Then, in the second part of the paper, we realise an empirical investigation based on administrative information of an Italian University matched with the data of the job centres of the local (provincial) labour market in order to reconstruct the characteristics of the university-to-work transitions of graduates. Our results have important policy implications, since for local development it is crucial, among other things, to make the best use of all human resources and especially those with the highest educational level.
Romanian Journal of Regional Science, 2014
He has published several books and articles in a number of research areas, such as international ... more He has published several books and articles in a number of research areas, such as international economics, transition economics, labour economics and policy, regional economics, macroeconomics and economic policy.
The chapter, after illustrating the main events characterising the global financial crisis and th... more The chapter, after illustrating the main events characterising the global financial crisis and the Great Recession, reviews the (generally prompt) economic policy responses in the principal economies of the world. It then focuses on the sovereign debt crisis affecting some Eurozone countries, especially in the periphery, showing how the ‘spreads’ of the Portugal, Ireland, Italy, Greece, Spain (PIIGS) suddenly increased and contagion occurred. The impact on real economic activity is investigated by stressing the fall in aggregate demand and its components (with widening output gaps), and the dire consequences on unemployment, particularly of young people.
This chapter illustrates the integration process of the European Union (EU), focusing both on the... more This chapter illustrates the integration process of the European Union (EU), focusing both on the ‘deepening perspective’ (from the original European Economic Community and Customs Union to the Single Market) and on the ‘widening viewpoint’ (from the initial 6 members to the current 28, including enlargement to the East with the admission of several formerly planned economies, and the United Kingdom for the time being). It also considers competition policy and structural funds. It then evidences the weight and composition of the EU budget, with a brief discussion of its evolution over time. The EU’s integration process is assessed within the globalization trend, including evidence on the economic weight – of EU countries and the EU as a whole – in the world economy.
After a brief description of the functioning of the European Monetary System and its crisis, this... more After a brief description of the functioning of the European Monetary System and its crisis, this chapter analyses the objectives and content of the Maastricht Treaty, including the convergence criteria for admission to the Economic and Monetary Union (EMU). The judgment on the EMU’s construction is made by considering the Optimal Currency Area theories. The chapter also includes an account of empirical evidence on ‘real convergence’ – which is juxtaposed to ‘nominal’ and ‘institutional’ convergence – in the Eurozone, compared with the European Union as a whole. The empirical investigation is completed by analysing cycle correlations, sensitivity to the average EU cycle and trade intensity.
Applied Economics, Jan 22, 2018
We design a new specification of Okun's model that takes the following features into account: est... more We design a new specification of Okun's model that takes the following features into account: estimation of the relation in first differences, the possible lagged effect of GDP dynamics on unemployment changes, the persistence of unemployment rate dynamics, the possible different values of Okun coefficients under recession (with respect to periods of increases in GDP), the existence of crosscountry institutional and structural differences (i.e. country-specific Okun coefficients), the additional effect on unemployment caused by large adverse shocks such as financial crises. A distinctive feature of this article is its consideration of a large set of countries for which we find differentiated Okun coefficients. Moreover, we focus in particular on the distinction between developed and developing countries, and on the additional impact of financial crises. From an econometric point of view, the model developed belongs in the family of linear mixed-effects models. The estimation method uses an expectation-maximization (EM) algorithm. Our results confirm the general validity of 'Okun's law'; they show the Okun coefficient differences between high-and low-income countries; and they evidence an additional impact of some types of financial crisis on the unemployment dynamics of developed economies.
Springer eBooks, 2020
This chapter briefly reviews and discusses the distinctive features of economic development in Ch... more This chapter briefly reviews and discusses the distinctive features of economic development in China and India, by examining the different characteristics of their global integration into the world economy. First, by adopting a comparative approach the chapter highlights the points of convergence and divergence in the development patterns of the two Asian countries. Then, the analysis, focusing on the last decades, covers trade openness and trade specialisation. The degree of openness is analysed also relating it to economic growth. Specialisation is investigated through the computation of Balassa’s indices. The geographical orientation of exports and imports is also considered. A more specific analysis refers to the changing weight, over time, of internal demand vs. external demand, given the new policy strategies (clearer in the case of China) to rebalance aggregate demand in favour of the internal components. The chapter also examines FDI flows, by distinguishing the trends in both inflows and outflows. Finally, we also evaluate the performance of these economies on “ease of doing business” to attract more foreign investors and maximize the potential benefits of global integration. The “business-friendly” environment of these two economies will be assessed by analyzing different variables of business regulations, such as: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulations. We show, in particular, the progress achieved by the two countries and relate it to recent economic reforms.
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Papers by Enrico P Marelli
"Mancava nel panorama bibliografico del nostro paese un lavoro di ampio respiro che affrontasse in modo equilibrato la questione della nostra permanenza nell'Eurozona. L'agile, ma completo, libro di Enrico Marelli e Marcello Signorelli colma questa lacuna, corredando l'analisi della questione stessa con un breve excursus storico sulla nostra partecipazione alla moneta comune e sul percorso svolto dall'Unione monetaria in quasi venti anni di esistenza, e con una disamina degli scenari aperti per l'evoluzione dell'Unione, la sua sopravvivenza e le necessarie riforme." (dalla Prefazione di Nicola Acocella) "Questo libro svolge bene il difficile compito di spiegare con parole accessibili le tematiche collegate alla genesi dell'euro e agli effetti della sua introduzione nell'Eurozona fino alla sua recente crisi. Il libro ha quindi non solo una pregevole valenza didattica ma risulta anche fondamentale per un processo decisionale autenticamente democratico, non solo nella forma ma anche nella sostanza." (dalla Postfazione di Alessandro Vercelli)
The book can be purchased at:
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or
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or
https://www.amazon.it/lItalia-tornasse-Vantaggi-costi-rischi/dp/886292951X/ref=sr_1_1?ie=UTF8&qid=1516860191&sr=8-1&keywords=e+se+l%27italia+tornasse+alla+lira+vantaggi%2C+costi+e+rischi
(pdf of cover page attached)