Papers by Riccarda Arianna Longaretti
Decentralization of public expenditure and growth in Italy: Does the composition matter?
In this paper we exploit data at regional level on decentralized public expenditure provided by C... more In this paper we exploit data at regional level on decentralized public expenditure provided by Conti pubblici territoriali from 1996 to 2014 and we decompose decentralized public expenditure into current and capital spending. The aim is to disentangle their specific effect on economic growth. Since literature does not provide unanimous indication about the effect of different component of expenditure on growth, we consider a generalized additive model, which is a semi-parametric estimation method that allows more flexibility than conventional estimation techniques. Our findings show a on-linear effect, that is different according to categories of expenditure. More specifically, the effect of capital expenditure is positive, while, decentralized current expenditure tends to have a negative effect on the rate of economic growth.
Regional Studies, 2018
In order eq. (2) shows a positive maximum in the interval ∈ 0,1 , the following restrictions on p... more In order eq. (2) shows a positive maximum in the interval ∈ 0,1 , the following restrictions on parameters must hold: 0 1 and Passing to study the function described by eq. (3), it has two points of maximum: ≡ , and ≡ ,. In order the function described by eq. (3) may be approximated by a 2nd-order function in the interval ∈ 0,1 , the following restrictions on parameters must hold:
Decentramento, dinamica della spesa in conto capitale e crescita economica. Alcune considerazioni
Il capitolo presenta una rassegna della letteratura su federalismo fiscale e crescita. Si present... more Il capitolo presenta una rassegna della letteratura su federalismo fiscale e crescita. Si presenta un modello in cui la spesa decentrata in conto capitale ha effetti sulla crescita economic
Endogenous Start-Ups, Financial Condition and Capital Accumulation
RePEc: Research Papers in Economics, May 1, 2008
In this paper we use an endogeneous-growth model with human capital and heterogeneous agents to a... more In this paper we use an endogeneous-growth model with human capital and heterogeneous agents to analyse the relationship between fiscal federalism and economic growth. Results show that federalism, which allows education-related public good levels to be tailored on the human capital of heterogeneous agents, increases human capital accumulation. This in turn leads to higher rates of growth. The benefits of federalism are stronger the larger the intra-jurisdiction variance of agents' human capital.
The Emergence of Asymmetric Decentralization: Centrifugal and Centripetal Forces
RePEc: Research Papers in Economics, 2020
This paper provides a simple analytical framework to explain the emergence of asymmetric decentra... more This paper provides a simple analytical framework to explain the emergence of asymmetric decentralization as a possible institutional solution in multi-level governance. In particular, we conclude that, under certain circumstances, asymmetric decentralization, by granting some regions stronger fiscal autonomy and preserving at the same time interregional equalization, may provide a Pareto-improving solution regarding both centralization and secession
RePEc: Research Papers in Economics, May 1, 2006
In this paper we develop an OLG model with heterogeneous agents, money and bequests, introducing ... more In this paper we develop an OLG model with heterogeneous agents, money and bequests, introducing occupational choice and financing constraints when capital markets are imperfect. We show how, under appropriate conditions, all the moments of the distribution are affected by changes in money growth. More precisely, if capital markets are imperfect and heterogeneous agents are liquidity constrained, investment in fixed capital is not efficient and aggregate wages and profits depend on the availability of loanable funds. An increase in money growth may imply a more efficient aggregate investment. Therefore aggregate product and wealth positively depend on an acceleration in money growth.
Decentramento, dinamica della spesa in conto capitale e crescita; alcune considerazioni
Il capitolo presenta una rassegna della letteratura su federalismo fiscale e crescita. Si present... more Il capitolo presenta una rassegna della letteratura su federalismo fiscale e crescita. Si presenta un modello in cui la spesa decentrata in conto capitale ha effetti sulla crescita economic
Problemi di politica fiscale e monetaria
Jahrbücher für Nationalökonomie und Statistik
This paper addresses the issue of measuring tolerance, viewed as a multifaceted phenomenon involv... more This paper addresses the issue of measuring tolerance, viewed as a multifaceted phenomenon involving several different social domains. We develop a multidimensional index for Likert-scale data, characterized by the following features: (i) it reflects the individual’s intensity of tolerant attitudes towards each social domain; (ii) the index can be broken down by dimension in order to determine the contribution of each dimension to overall tolerance; (iii) the index combines the different dimensions of tolerance using a weighted scheme that reflects the importance of each dimension in determining the overall level of tolerance. To show how this new measure of tolerance works in practice, we carry out a case study using an Italian recent survey asking the opinion of university students about different subjects, such as interreligious dialog, women/religion relationship, religion/death relationship, homosexuality, and multicultural society.
How to design decentralisation to curb secessionist pressures? Top-down vs. bottom-up reforms
Structural Change and Economic Dynamics
Abstract This paper looks at decentralisation as an institutional solution for curbing secessioni... more Abstract This paper looks at decentralisation as an institutional solution for curbing secessionist pressures by making potentially seceding regions strictly better off by staying in the union. We show that a bottom-up decentralisation reform, where single regions that can opt to assume or not stronger fiscal responsibilities on the basis of bilateral negotiations with the central government, may be more successful in avoiding instability and a secessionist conflict than more standard top-down decentralisation, where the central government assigns identical fiscal powers to all regions. The example of the decentralisation process in Spain over the last 40 years illustrates the relevance of the institutional pattern we analyse in the paper.
Federalism, Human Capital Accumulation and Inequality
Economia Politica, 2013
We want to obtain a concise picture on the state of the economic research in this field, and ther... more We want to obtain a concise picture on the state of the economic research in this field, and therefore we review a number of studies (theoretical and empirical) that focus \u2013 directly or indirectly \u2013 on the link between federalism and growth and between federalism and inequalit
SSRN Electronic Journal, 2019
In recent studies, there has been a growing interest towards tolerance and its implications in th... more In recent studies, there has been a growing interest towards tolerance and its implications in the socioeconomic system. This paper aims to contribute to this flourishing research area into two directions. First, we develop a theoretical framework to explain individual's tolerant attitudes without necessarily resorting to altruistic preferences. Second, this paper addresses the issue of measuring tolerance when information about several dimensions of tolerance is available and data are of Likert's scale type. To show how our new measure of tolerance works in practice, we carry out a case study using an Italian recent survey asking the opinion of university students about different subjects, such as interreligious dialogue, women/religion relationship, religion/death relationship, multicultural society, and homosexuality. We, finally, highlight the key policy implications arising from our study.
Endogenous Start-Ups, Financial Condition and Capital Accumulation
Economics Letters, 2015
h i g h l i g h t s • We develop a theoretical model with heterogeneous agents that differ in inc... more h i g h l i g h t s • We develop a theoretical model with heterogeneous agents that differ in income. • We focus on two alternative public choice mechanisms. • We show that static inefficiency depends on the public choice mechanism. • We show that it depends also on the income elasticity of the public good. • We show that a trade-off may be at work between static and dynamic (in)efficiency.
Rivista internazionale di scienze sociali
In questo lavoro si fornisce unabreve rassegna dei più recenti contributi teorici, sul legame tra... more In questo lavoro si fornisce unabreve rassegna dei più recenti contributi teorici, sul legame tra distribuzione e crescita, basati sull’incompletezza dei mercati dei capitali Se i mercati dei capitali sono imperfetti e le decisioni individuali di investimento avvengono in condizioni di disuguaglianza, vi è la possibilità che l’accumulazione di capitale (umano e…sico) non sia efficiente. La causa risiede nella disparità nelle opportunità individuali di investimento, le quali possono perpetuare e, in alcuni casi, inasprire la disuguaglianza e influire sull’equilibrio di lungo periodo. Si evidenzia come tali modelli teorici siano in grado di supportare la dinamica individuale dei vari Paesi, diversa l’una dall’altra, nella misura in cui prevedano equilibri multipli edinamichedipendenti dalle condizioni iniziali. La convergenza nella distribuzione de lreddito è invece interpretabile sulla base dei modelli teorici che prevedono equilibri di lungo periodo con mobilità sociale e distribuzi...
Lecture Notes in Economics and Mathematical Systems, 2004
Endogenous Startups, Financial Conditions, and Capital Accumulation
Contributions to Economics, 2003
... Page 2. 94 Domenico Delli Gatti and Riccarda Longaretti have advanced at a faster pace on the... more ... Page 2. 94 Domenico Delli Gatti and Riccarda Longaretti have advanced at a faster pace on the path of financial development such as Poland, Hungary or the Czech Republic. ... Page 4. 96 Domenico Delli Gatti and Riccarda Longaretti ...
Financial Structure, Growth and the Distribution of Wealth
We analyse an OLG model with heterogeneous altruistic agents. Agents are heterogeneous in wealth ... more We analyse an OLG model with heterogeneous altruistic agents. Agents are heterogeneous in wealth and talents. They must choose whether being workers or entrepreneurs. This choice depends both on wealth and talent of every agent, but also on ...
I develop a model in order to study long-run effects of the heterogeneity of wealth and efficienc... more I develop a model in order to study long-run effects of the heterogeneity of wealth and efficiency among agents. More precisely I consider overlapping generations of agents who differ from one another in wealth and inefficiency level. Those agents, when young, choose whether to invest or not in human capital. Since the net return of human capital investment is positive, agents who can afford human capital investment, do invest. In the second period of life, agents make an occupational choice. They choose if being workers or entrepreneurs. There exists a critical level of inefficiency below which becoming entrepreneur is profitable. The wealth distribution of agents changes over time because of wealth accumulation process. The long run distribution is stationary and can be ergodic or not, with long-run occupational mobility or not. Theoretical results are analyzed in a redistributive policy perspective. When long-run distribution of wealth is ergodic, one-shot redistributive policies...
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Papers by Riccarda Arianna Longaretti