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Working papers

139	M. Forni, L. Gambetti and L. Sala	Fundamentalness, Granger Causality and Aggregation	2018
138	L. Di Bonaventura, M. Forni and F. Pattarin	The Forecasting Performance of Dynamic Factor Models with Vintage Data	2018
137	G. Bertocchi, M. Brunetti and A. Zaiceva	The Financial Decisions of Immigrant and Native Households: Evidence from Italy	2018
136	T. Addabbo, M. Davoli and M. Murat	Is there an immigrant-gender gap in education? An empirical investigation based on PISA data from Italy	2018
135	L. Brighi and M. D'Amato	Private Information and the Commitment Value of Unobservable Investment	2018
134	L. Brighi and M. D'Amato	Strategic Effects of Investment and Private Information: The Incumbent's Curse	2017
133	M. Murat	Foreign aid and asylum immigration. Does development matter?	2017
132	M. Forni, L. Gambetti and L. Sala	News, Uncertainty and Economic Fluctuations (No News is Good News)	2017
131	G. Bertocchi, A. Dimico, F. Lancia and Alessia Russo	Youth Enfranchisement, Political Responsiveness, and Education Expenditure: Evidence from the U.S.	2017
130	M. Murat	Foreign Aid and responsiveness of bilateral refugee inflows	2017
129	B. Pistoresi, M. Cavicchioli and G. Brevini	Central Bank Independence, financial instability and politics: new evidence for OECD and non-OECD countries *** Published in INTERNATIONAL JOURNAL OF ECONOMICS AND FINANCE, vol. 9, n. 7, 2017 ***	2017
128	A. Cavallo and A. Ribba	Measuring the Effects of Oil Price and Euro-area. Shocks on CEECs Business Cycles	2017
127	R. Raduzzi and A. Ribba	The Macroeconomics Outcome of Oil Shocks in the Small Eurozone Economies	2017
126	P. Di Martino and B. Pistoresi and Alberto Rinaldi	International financial flows, domestic banks, and the economic development of the periphery:Italy, 1861-1913	2016
125	G. Bertocchi	The Legacies of Slavery in and out of Africa *** Published in IZA JOURNAL OF MIGRATION, vol. 5, pp. 1-19, 2016 ***	2016
124	G. Bertocchi and M. Bozzano	Origins and implications of family structure across Italian provinces in historical perspective Forthcoming in "Cliometrics and the Family: Global Patterns and Their Impact on Diverging Development", C. Diebolt et al. (eds), Spinger, Berlin ***	2016
123	M. Cavicchioli, M. Forni, M. Lippi, P. Zaffaroni	Eigenvalue Ratio Estimators for the Number of Dynamic Factors	2016
122	M. Cavicchioli, A. Papana, A. Papana Dagiasis and B. Pistoresi	Determinants of Central Bank Independence: a Random Forest Approach	2016
121	E. Bilancini, L. Boncinelli, J. Wu	The Interplay of Cultural Aversion and Assortativity for the Emergence of Cooperation	2016
120	M. Forni, A. Giovannelli, M. Lippi, S. Soccorsi	Dynamic Factor model with infinite dimensional factor space: forecasting	2016
119	M. Forni, L. Gambetti, L. Sala	VAR Information and the Empirical Validation of DSGE Models	2016
118	H. Lehmann, T. Razzolini and A. Zaiceva	Worker flows and labour market adjustment during the Great recession: evidence from a large shock	2016
117	L. Brighi and P. Silvestri	Inefficiency in Childcare Production. Evidence from Italian Microdata	2016
116	M. Cavicchioli and B. Pistoresi	Testing threshold cointegration in Wagner's Law: the role of military spending *** Published in ECONOMIC MODELLING, vol. 59, pp. 23-31, 2016 ***	2016
115	M. Forni, M. Hallin, M. Lippi and P. Zaffaroni	Dynamic Factor Models with infinite-dimensional factor space: asymptotic analysis *** Published in JOURNAL OF ECONOMETRICS, vol. 199, pp. 74-92, 2017.***	2015
114	P. Dallari, A. Ribba	Economic shocks and their effects on unemployment in the euro area periphery under the EMU	2015
113	M. Murat, M. L. Recalde and P. G. Degiovanni	The education networks of Latin America. Effects on trade during and after the cold war	2015
112	G. Bertocchi and A. Dimico	The long-term determinants of female HIV infection in Africa: the slave trade, polygyny, and sexual behavior	2015
111	A. Ribba	What drives US inflation and unemployment in the long run?	2015
110	M. Bozzano	On the historical roots of women’s empowerment across Italian provinces: religion or family culture?	2015
109	A. Cipollini, I. Lo Cascio and S. Muzzioli	Volatility risk premia and financial connectedness	2014
108	E. Bilancini and L. Boncinelli	Social coordination with locally observable types *** Published in ECONOMIC THEORY, pp. 1-35 , 2017 ***	2014
107	M. Murat	Soft, hard or smart power? International students and investments abroad	2014
106	L. Brighi and M. D'Amato	Limit pricing and secret barriers to entry	2014
105	M. Forni and L. Gambetti	Government spending shocks in open economy VARs *** Published in JOURNAL OF INTERNATIONAL ECONOMICS, vol. 99, pp. 68-94 ***	2014
104	A. Cavallo and A. Ribba	Common macroeconomic shocks and business cycle fluctuations in euro area countries *** Published in INTERNATIONAL REVIEW OF ECONOMICS AND FINANCE ***	2014
103	G. Bertocchi and M. Bozzano	Family structure and the education gender gap: Evidence from Italian Provinces *** Published in CESifo ECONOMIC STUDIES, vol. 61, 2015, pp. 263-300 ***	2014
102	E. Bilancini and L. Boncinelli	Persuasion with reference cues and elaboration costs	2014
101	E. Bilancini and L. Boncinelli	Small noise in signaling selects pooling on minimum Signal	2014
100	E. Bilancini and L. Boncinelli	Signaling with costly acquisition of signals	2014
99	E. Bilancini and L. Boncinelli	Dynamic adverse selection and the supply Size *** Published in EUROPEAN ECONOMIC REVIEW, vol. 83, pp. 233-242 ***	2014
98	H. Lehmann and A. Zaiceva	Informal employment in russia: definitions, incidence, determinants and labor market segmentation *** Published in JOURNAL OF INTERNATIONAL DEVELOPMENT, 2015, Vol. 27, pp. 464­488 ***	2014
97	M. Forni, L. Gambetti, M. Lippi and L. Sala	Noisy news in business cycles *** Published in AMERICAN ECONOMIC JOURNAL: MACROECONOMICS, vol. 9, pp. 122-152, 2017 ***	2014
96	M. Forni, L. Gambetti, M. Lippi and L. Sala	Noise bubbles *** Published in ECONOMIC JOURNAL, vol.127, pp. 1940-1976, 2017 ***	2014
95	E. Bilancini and L. Boncinelli	Instrumental cardinal concerns for social status in Two-Sided Matching with Non-Transferable Utility *** Published in EUROPEAN ECONOMIC REVIEW, vol. 67, pp. 174–189, 2014 ***	2014
94	E. Bilancini and L. Boncinelli	Disclosure of information in matching markets with non-transferable utility	2014
93	G. Bertocchi, A. Gambardella, T. Jappelli, C. A. Nappi and F. Peracchi	Bibliometric evaluation vs. informed peer review: evidence from Italy *** Published in RESEARCH POLICY, vol. 44, 2015, pp. 451-466 ***	2013
92	B. Pistoresi and A. Rinaldi	Italy's current account sustainability:a long run perspective, 1861-2000	2013
91	M. Murat	Education ties and investments abroad. Empirical evidence from the US and UK	2013
90	F. Pancotto, F. M. Pericoli and M.Pistagnesi	Inefficiency in survey exchange rates forecasts *** Published in JOURNAL OF FORECASTING ***	2013
89	A. Zaiceva and K. F. Zimmermann	Returning home at times of trouble? Return migration of EU enlargement migrants during the crisis *** Published in M. Kahanec, K.F. Zimmermann (eds), Labor Migration, EU Enlargement and the Great Recession, Springer: Berlin, 2016	2013
88	G. Bertocchi and M. Bozzano	Women, medieval commerce, and the education gender gap *** Published in JOURNAL OF COMPARATIVE ECONOMICS, vol. 44, 2016, pp. 496-521 ***	2013
87	M. Murat	Out of sight, not out of mind. Education networks and internattrade*** Published in WORLD DEVELOPMENT, 2014, vol. 58, pp. 53-66 ***	2012
86	A. Ribba	The federal funds rate and the conduction of the international orchestra *** Published in ECONOMICS BULLETIN, vol. 32, pp. 2983-2990, 2012 ***	2012
85	M. Bozzano	Assessing gender inequality among Italian regions: the Italian gender gap index	2012
84	G. Bertocchi, A. Dimico	De jure and de facto of power: evidence from Mississippi *** Published in CONSTITUTIONAL POLITICAL ECONOMY, vol. 28, pp. 321-345, 2017 ***	2012
83	G. Bertocchi, M. Brunetti and C. Torricelli	Is it money or brains? The determinants od intra-family decision power *** Published in JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, 2014, vol. 101, pp. 65-86 ***	2012
82	A. Cavallo and A. Ribba	Euro area inflation as a predictor of national inflation rates *** Published in JOURNAL OF POLICY MODELING, vol. 36, n. 6, pp. 1048-1045, 2014 ***	2012
81	A. Scozzari, F. Tardella, S. Paterlini and T. Krink	Exact and heuristic approaches for the index tracking problem with UCITS constraints*** Published in ANNALS OF OPERATIONS RESEARCH, vol. 205, pp. 235-250 ***	2012
80	M. Murat, D. Ferrari and P. Frederic	Immigrant students and educational systems. Cross-country evidence from PISA 2006	2012
79	S. G. Kessing and C. Strozzi	The regional distribution of public employment: theory and evidence	2012
78	Z. Wang, S. Paterlini, F. Gao and Y. Yang	Adaptive minimax estimation over sparse lq-Hulls	2012
77	A. Zaffaroni	Convex radiant costarshaped sets and the least sublinear gauge	2012
76	H. Lehmann, T. Razzolini and A. Zaiceva	Job separations, job loss and informality in the Russian labor market *** Published in RESEARCH IN LABOR ECONOMICS ***	2012
75	G. Bertocchi and A. Dimico	The evolution of the racial gap in education and the legacy of slavery *** Published in JOURNAL OF COMPARATIVE ECONOMICS, 2012, vol. 40, pp. 581-595 ***	2011
74	M. Murat	Do immigrant students succeed? Evidence from Italy and France based on PISA 2006 *** Published in GLOBAL ECONOMY JOURNAL ***	2011
73	F. Lancia and A. Russo	Self-commitment-institutions and cooperation in overlapping generations games	2011
72	E. Bilancini and S. D'Alessandro	Long-run welfare under externalities in consumption, leisure, and production: a case for happy degrowth vs. unhappy growth *** Published in ECOLOGICAL ECONOMICS, in press ***	2011
71	G. Bertocchi and A. Dimico	Race v. Suffrage. The determinants of development in Mississippi	2011
70	S. Mittnik, S. Paterlini and T. Yener	Operational–risk dependencies and the determination of risk capital	2011
69	M. Comune, A. Naghavi and G. Prarolo	Intellectual property rights and south-north formation of global innovation networks	2011
68	A. Naghavi and C. Strozzi	Intellectual property rights, migration, and diaspora	2011
67	A. Naghavi, J. Spies and F. Toubal	International sourcing, product complexity and intellectual property rights	2011
66	E. Farvaque, A. Mihailov and A. Naghavi	The grand experiment of communism: discovering the trade-off between equality and efficiency	2011
65	A. Akerman, A. Larsson and A. Naghavi	Autocracies and development in a global economy: a tale of two elites	2011
64	G. Bertocchi	Growth, colonization, and institutional development. In and out of Africa *** Published in de La Grandville O. (ed.), Economic Growth and Development, Emerald: Bingley, 2011 ***	2011
63	M. Forni, L. Gambetti and L. Sala	No news in business cycles *** Published in ECONOMIC JOURNAL, 2014, Vol. 124, pp. 1168-1191 ***	2011
62	M. Forni and L. Gambetti	Sufficient information in structural VARs *** Published in JOURNAL OF MONETARY ECONOMICS, 2014, Vol. 66, pp. 124-136 ***	2011
61	A. Rinaldi end B. Pistoresi	Exports and Italy’s economic development: a long-run perspective (1863-2004) *** Forthcoming in EXPLORATION IN ECONOMIC HISTORY ***	2011
60	H. Lehmann, A. Muravyev, T. Razzolini and A. Zaiceva	The wage and non-wage costs of displacement: evidence from Russia *** Published in JOURNAL OF COMPARATIVE ECONOMICS, vol 41, pp. 1184-1201 ***	2011
59	R. Rovelli and A. Zaiceva	Individual support for economic and political changes: Evidence from transition countries, 1991-2004 ***Published in THE ECONOMICS OF TRANSITION, 2013, 21 (2), 193-240***	2011
58	M. Murat, B.Pistoresi and A. Rinaldi	Transnational social capital and FDI. Evidence from Italian associations worldwide *** Published in JOURNAL OF ECONOMIC DEVELOPMENT, 2011, vol. 36(4) ***	2011
57	E. Bilancini and L. Boncinelli	Dynamic adverse selection and the size of the informed side of the market	2011
56	B. Fastrich, S. Paterlini and P. Winker	Cardinality versus q-norm constraints for index tracking *** Published in QUANTITATIVE FINANCE, 2014, vol. 14, PP. 2019-2032 ***	2011
55	M. Murat and T. Pirotti	The attractiveness of countries for FDI. A fuzzy approach *** Published in FUZZY ECONOMIC REVIEW, 2010, vol. XV, n.2 ***	2010
54	M. Murat, D. Ferrari, P. Frederic and G. Pirani	Immigrants, schooling and background. Cross-country evidence from PISA 2006	2010
53	J. Àlvarez, E. Bilancini, S. D’Alessandro and G. Porcile	Agricultural institutions, industrialization and growth: the case of New Zealand and Uruguay in 1870-1940 *** Published in EXPLORATIONS IN ECONOMIC HISTOR, 2011, vol. 48, pp. 151-168 ***	2010
52	E. Bilancini	On the rationalizability of observed consumers’ choices when preferences depend on budget sets and (potentially) on anything else *** Published in JOURNAL OF ECONOMICS, 2011, vol. 102, pp. 275-286 ***	2010
51	G. Bertocchi and A. Dimico	Slavery, education, and inequality *** Published in European Economic Review, 2014, vol. 70, pp. 197-209 ***	2010
50	F. Lancia and A. Russo	A dynamic politico-economic model of intergenerational contracts	2010
49	M. Forni and L. Gambetti	Fiscal foresight and the effects of government spending	2010
48	M. Murat and S. Flisi	The hub continent? Immigrant networks, emigrant diasporas and FDI *** Published in JOURNAL OF SOCIO-ECONOMICS, 2011, vol. 40, pp. 796-805 ***	2010
47	A. Cipollini and I. Lo Cascio	Testing for contagion: a time-scale decomposition	2010
46	S. Michalopoulos, A. Naghavi and G. Prarolo	Trade and geography in the economic origins of Islam: theory and evidence	2010
45	E. Bilancini and L. Boncinelli	Strict Nash equilibria in large games with strict single crossing in types and actions *** Published in ECONOMIC THEORY BULLETIN, VOL. 4, PP. 95-109 ***	2010
44	G. Bertocchi and D. Guerzoni	Growth, history, or institutions? What explains state fragility in Sub-Saharan Africa *** Published in JOURNAL OF PEACE RESEARCH, 2012, vol. 49, pp. 769-783 ***	2010
43	G. Bertocchi and D. Guerzoni	The fragile definition of state fragility *** Published in RIVISTA ITALIANA DEGLI ECONOMISTI, 2011, vol. 16, pp. 337-354 ***	2010
42	E. Bilancini and L. Boncinelli	Preferences and normal goods: an easy-to-check necessary and sufficient condition *** Published in ECONOMICS LETTERS, 2010, vol. 108 (1), pp. 13-15 ***	2010
41	D. Ferrari and S. Paterlini	Effcient and robust estimation for financial returns: an approach based on q-entropy	2010
40	M. Forni and L. Gambetti	Macroeconomic shocks and the business cycle: evidence from a structural factor model	2010
39	K. Bjorvatny and A. Naghavi	Rent seekers in rentier states: when greed brings peace *** Forthcoming in EUROPEAN JOURNAL OF POLITICAL ECONOMY ***	2010
38	A. Mantovani and A. Naghavi	Parallel imports and innovation in an emerging economy *** Forthcoming in HEALTH ECONOMICS ***	2010
37	L. Lo Bue and A. Ribba	The recent performance of the traditional measure of core inflation in G7 countries *** Published in THE IUP JOURNAL OF MONETARY ECONOMICS, 2011, vol. IX, pp. 76-96 ***	2009
36	T. Addabbo and D. Favaro	Education and wage differentials by gender in Italy *** published in APPLIED ECONOMICS, 2011, vol. 43, pp. 4589-4605 ***	2009
35	E. Bilancini and L. Boncinelli	Single-valuedness of the demand correspondence and strict convexity of preferences: an equivalence result *** Published in ECONOMICS LETTERS, 2010, vol. 108, pp. 299-302 ***	2009
34	E. Bilancini and L. Boncinelli	Signalling, social status and labor income taxes	2009
33	A. Ribba	On some neglected implications of the Fisher effect *** Published in EMPIRICAL ECONOMICS, 2011, vol. 40, pp. 451-470 ***	2009
32	M. Murat and S. Flisi	Immigrant links, diasporas and FDI. An empirical investigation on five european countries	2009
31	A. Rinaldi	The rise of a district lead firm: the case of wam (1968-2003) *** Published in JOURNAL OF BUSINESS HISTORY, 2010, vol. 55, pp. 52-81 ***	2009
30	G. Bertocchi, M. Brunetti and C. Torricelli	Marriage and other risky assets: a portfolio approach *** Published in JOURNAL OF BANKING AND FINANCE, 2011, vol. 35, pp. 2902-2915 ***.	2009
29	E. Bilancini and L. Boncinelli	Redistribution and the notion of social status *** Published in JOURNAL OF PUBLIC ECONOMICS, 2012, vol. 96(9), pp. 651-657	2008
28	J. Messina, C. Strozzi and J. Turunen	Real wages over the business cycle: OECD evidence from the time and frequency domains *** Published in JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, 2009, vol. 33, pp. 1183-1200 ***	2008
27	C. Davis and A. Naghavi	Offshoring production: a simple model of wages, productivity, and growth *** Forthcoming in ECONOMIC INQUIRY ***	2008
26	M. Forni and L. Gambetti	The dynamic effects of monetary policy: a structural factor model approach *** Published in JOURNAL OF MONETARY ECONOMICS, 2010, vol. 57, pp. 203-216 ***	2008
25	G. M. Longoni and A. Rinaldi	Industrial policy and artisan firms in Italy, 1945-1981 *** A. Colli and M. Vasta (eds), Forms of enterprise in 20th century Italy. Boundaries, structures and strategies, Cheltenham, UK: Edward Elgar ***	2008
24	A. Rinaldi and M. Vasta	The Italian corporate network, 1952-1983: new evidence using the interlocking directorates technique *** Published in ENTERPRISE & SOCIETY, 2012, vol. 13 (2), pp. 378-413 ***	2008
23	M. Lyre, J. Paha, S. Paterlini and P. Winker	Optimization heuristic for determining internal grading scales *** Published in in COMPUTATIONAL STATISTICS & DATA ANALYSIS, 2010, vol. 54, pp. 2693-2706 ***	2008
22	T. Addabbo and M.L. Di Tommaso	Children capabilities and family characteristics in Italy	2008
21	T. Krink and S. Paterlini	Differential evolution for multiobjective portfolio optimization *** Published in ANNALS OF OPERATIONS RESEARCH, 2009, vol. 172, pp. 153-176 ***	2008
20	F. Altissimo, R. Cristadoro, M. Forni, M. Lippi and G. Veronese	New Eurocoin: tracking economic growth in real time *** Published in THE REVIEW OF ECONOMICS AND STATISTICS, 2010, vol. 92, pp. 1024-1034 ***	2008
19	A. Naghavi and G. Ottaviano	Outsourcing, complementary innovations and growth *** Published in INDUSTRIAL AND CORPORATE CHANGE, 2010, vol. 19, pp. 1009-1035 ***	2008
18	G. Bertocchi	The enfranchisement of women and the welfare state *** Published in EUROPEAN ECONOMIC REVIEW, 2011, vol. 55, pp. 535-553 ***	2008
17	D. Leahy and A. Naghavi	Intellectual property rights and North-South joint ventures *** Published in REVIEW OF INTERNATIONAL ECONOMICS, 2010, vol. 18, pp. 633-649 ***	2008
16	D. Ferrari	Parametric density estimation by minimizing nonextensive entropy	2008
15	T. Addabbo, G. Facchinetti, A. Maccagnan, G. Mastroleo and T. Pirotti	The interaction between parents and children as a relevant dimension of child well being. The case of Italy *** Published in POLISH JOURNAL OF ENVIRONMENTAL STUDIES, 2009, vol. 18, pp. 18-26 ***	2008
14	A. Cipollini and G. Kapetanios	Forecasting financial crises and contagion in Asia using dynamic factor analysis *** Published in JOURNAL OF EMPIRICAL FINANCE, 2009, vol. 16, pp. 188-200 ***	2008
13	M. Murat, B. Pistoresi and A. Rinaldi	Italian diaspora and foreign direct investment: a cliometric perspective *** Published in RIVISTA DI STORIA ECONOMICA, 2009, vol. 26, pp. 225-253 ***	2008
12	G. Bertocchi and C. Strozzi	International migration and the role of institutions *** Published in PUBLIC CHOICE, 2008, vol. 137, pp. 81-102 ***	2008
11	A. Naghavi	Trade sanctions and green trade liberalization	2008
10	A. Cipollini and G. Missaglia	Measuring bank capital requirements through dynamic factor analysis	2008
9	G. Bertocchi and C. Strozzi	The evolution of citizenship: economic and institutional determinants *** Published in JOURNAL OF LAW AND ECONOMICS, 2010, vol. 53, pp. 95-136 ***	2007
8	M. Forni, D. Giannone, M. Lippi and L. Reichlin	Opening the black box: structural factor models with large cross-sections *** Published in ECONOMETRIC THEORY, 2009, vol. 25, pp. 1319-1347 ***	2007
7	A. Cipollini and G. Missaglia	Dynamic factor analysis of industry sector default rates and implication for portfolio credit risk modelling *** Published in JOURNAL OF RISK MODEL VALIDATION, 2008, vol. 2, pp. 59-79 ***	2007
6	A. Cipollini and N. Aslanidis	Leading indicator properties of US high-yield credit spreads *** Published in JOURNAL OF MACROECONOMICS, 2010, vol. 33, pp. 145-156 ***	2007
5	G. Bertocchi	The vanishing bequest tax. The comparative evolution of bequest taxation in historical perspective *** Published in ECONOMICS & POLITICS, 2011, vol. 23, pp. 107-131. ***	2007
4	T. Addabbo, D. Favaro and S. Magrini	The distribution of the gender wage gap in Italy: does education Matter?	2007
3	M. Murat and B. Pistoresi	Migrant networks: empirical implications for the Italian bilateral trade *** Published in INTERNATIONAL ECONOMIC JOURNAL, 2009, vol. 23, pp. 371-390 ***	2007
2	M. Murat and S. Flisi	Migrant business networks and FDI	2007
1	D. Ferrari and S. Paterlini	The Maximum Lq-likelihood method: an application to extreme quantile estimation in finance *** Published in METHODOLOGY AND COMPUTING IN APPLIED PROBABILITY, 2009, vol. 11, pp. 3-19 ***	2007