This paper proposes a formal testing procedure for distinguishing between engineering and ecological resilience, by fully exploiting the properties of the non-linear smooth-transition autoregressive (STAR) model. A two-steps' empirical strategy is adopted for measuring, comparing and explaining the ecological resilience of regional economies to aggregate business cycle's variations in a multi-regime environment. The relevance of evolutionary patterns for analysing regional resilience is deeply discussed. The empirical investigation is conducted for the Italian case, by looking at the dynamic of regional employment growth over the period 1992-2012. Differences in regional resilience among Italian regions are explained by the concentration of manufacturing activities, highly productive regional exports, financial constraints, human and social capital. Some concluding suggestions introduce possible future areas of research in line with the more recent literature on this topic.
This paper surveys recent developments related to regional recessions and recoveries. Building on the idea of regional resilience, selected theoretical and empirical contributions are discussed in order to provide an overview of this area of research that looks at both equilibrium- and out-of-equilibrium approaches. On theoretical grounds, aggregate and disaggregate shocks are identified and separated, and hysteretic behaviours are examined. From an empirical perspective, linear and nonlinear econometric models are described and compared, with a particular focus on their spatial econometrics’ extensions. Possible avenues of both theoretical and empirical future research are explicitly explored.
This paper presents evidence on the distributive role of IRPEF, by using administrative microdata for the fiscal year 2014 elaborated at the Italian Ministry of Economy and Finance (Tax File IRPEF). The following results are obtained. The new contents of the dataset are described. Empirical evidence is provided on the IRPEF’s redistributive role also for particular income categories. The distributive effects of tax credits are reported. It is also found that the tax credit Bonus 80 euro produced positive effects on the vertical distribution of income, but it had negative consequences on reranking. Specific findings are obtained for the territorial dimension of IRPEF. In conclusion, results are summarized and policy suggestions are proposed.
Abstract Many academic papers have looked at the economic effects of the EU cohesion policy, which still remain an open empirical issue. The focus of the most recent literature has been on the heterogeneous effects of the policy and the identification of regional conditioning factors. However, most of the existing studies generally assume slope homogeneity for different cross‐sectional units (i.e., regions) and they estimate the average effects of the policy for all the European regions and/or selected groups of regions. Past works also employ data covering few programming periods. This paper has two main goals. First, we study the heterogeneous consequences of EU cohesion policy on regional economic growth in Europe over the past three decades, by applying a heterogeneous coefficient approach to new panel‐time series data. We calculate the region‐specific effects of the policy in terms of long‐run gross domestic product growth. Second, we study regional differences in terms of policy effects depending on the level of assistance received by the regions. We make a distinction among cases of effective, ineffective, trigger and marginal policy. We also document that the effectiveness of EU cohesion policy in the long run can be explained by some of the key factors used in the literature. Finally, we discuss the need for ineffective cases to learn from effective and trigger ones.
This paper studies regional economic resilience by exploiting the properties of the nonlinear smooth-transition autoregressive model. A testing procedure to distinguish between engineering and ecological resilience is presented, and a measurement of economic resilience is provided. Regional differences in economic resilience are explained by the presence of spatial interactions and by adopting a set of determinants like economic diversity, export performance, financial constraints, and human and social capital. An empirical investigation is conducted for analysing regional employment evolution in Italy from 1992 to 2012. Some concluding suggestions propose possible future areas of research.
Abstract European and national policy‐makers have highlighted the role of the cohesion policy in smoothing the effects of the crisis during the programme period 2007–13. To support these claims, however, specific evidence is needed. This article studied the relations between the absorption of the EU funds and regional labour markets in Italian regions during the Great Recession. By applying different panel data models to new data on cohesion policy, three main results were achieved. We found that the cohesion policy made a contribution to the resilience of Italian regional labour markets. Yet the short‐term consequences of the cohesion policy on regional economies were conditional on the heterogeneous quality of regional institutions. We also found that the policy changes introduced in Italy during the crisis increased the effectiveness of the cohesion policy. The analysis was controlled for endogeneity issues and alternative specifications.
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