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This paper aims to show how state intervention within the European Monetary Union can have positive effects not only on growth but also on public balances and debt. The relation between centralized monetary policy and decentralize...
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This paper aims to show how state intervention within the European Monetary Union can have positive effects not only on growth but also on public balances and debt. The relation between centralized monetary policy and decentralized fiscal policy partly solves the lack of coordination between the two. Each time a fiscal expansion in an EU country is not accompanied by a Central Bank interest rate increase, the expansionary effect of public spending, initially financed through the emission of public bonds, will be reinforced by endogenous money creation due to the increase in growth. The final result, if growth exceeds the rate of interest, is not only an increase in equilibrium income, but also a reduction in debt.
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This paper refers to the concept of public governance in the light of Transaction Cost Economics (TCE). While TCE is well developed and widely applied in the private sector, only a few studies have adopted such framework to invest...
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This paper refers to the concept of public governance in the light of Transaction Cost Economics (TCE). While TCE is well developed and widely applied in the private sector, only a few studies have adopted such framework to investigate the provision of public services. We aim at pointing out the coherence between peculiar typologies of transactions and a given set of governance structures, within Local Public Transport systems. The core of the analysis is the alignment between characteristics of transactions and governance structures. The empirical section addresses these issues referring to three case studies, pointing out an articulated organizational configuration in terms of actors involved and governancestructures adopted. The analysis shows an alignment between the choices underlying the design of the local transport system and the outcomes expected in terms of TCE.
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Purpose - The aim of this paper is to interpret the concept of a business model from the pattern of coordination mechanisms used by an Italian wine cooperative to manage its inter-organizational relationships. Design/methodology/a...
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Purpose - The aim of this paper is to interpret the concept of a business model from the pattern of coordination mechanisms used by an Italian wine cooperative to manage its inter-organizational relationships. Design/methodology/approach - The business model is taken as the structure and governance of the relationships between the focal firm and its exchange partners. The empirical analysis is based on a qualitative investigation, analyzing material collected at the Farming Cooperative Gran Cru. Findings - Several different coordination mechanisms were used to rethink the firm customer value proposition, showing a very complex and dynamic inter-organizational system: process control mechanisms, knowledge suppliers and clan control mechanisms. The combination of mechanisms enables the firm to govern the extreme complexity of external complementarities and interdependence among activities and resources. Practical implications - The study is particularly helpful to managers because wine entrepreneurs and managers can influence their networks' features and strategies, as well as the mechanisms for governance of the relationships and extracting customer value. Originality/value - The study seeks to enrich the debate on the strategy/structure fit by shifting the focus from the organizational to inter-organizational level of analysis. The analysis centers on boundary-spanning relationships between one wine firm and its partners and knowledge suppliers. This perspective brings business model analysis and inter-organizational design closer because variables of the business model - such as customer value - can be seen as combinations of inter-organizational coordination mechanisms.
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In this paper, we adapt multilevel analysis methods to investigate the spatial variability of SMEs' productivity across the Italian territory, and account for differences in the socio-economic context. Our results suggest that to ...
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In this paper, we adapt multilevel analysis methods to investigate the spatial variability of SMEs' productivity across the Italian territory, and account for differences in the socio-economic context. Our results suggest that to properly capture the variability of the data, it is important to allow for both spatial mean and slope effects. Social decay has the expected negative impact. However, while this effect is larger on firms with smaller capital intensity, firms with higher capital intensity seem to be less affected by geography. Greater territorial heterogeneity emerges among those firms with lower capital to labour ratios.
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From ancient times to the present day, certain coniferous trees (i.e., Pinus nigra var. calabrica) of the forests of Calabria (Italy) have provided resinous substances which, when suitably treated, have been used for a variety of ...
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From ancient times to the present day, certain coniferous trees (i.e., Pinus nigra var. calabrica) of the forests of Calabria (Italy) have provided resinous substances which, when suitably treated, have been used for a variety of purposes, from food and medicine to shipbuilding. One of the results of the growing human pressure which is leading to the progressive contraction of wooded areas, is the impoverishment of specialist production which has often been particularly valued for its quality. In the course of the 18th century the forest sector in southern Italy appeared to be in a clear state of crisis and was no longer able to contribute significantly to the growing requirements of the navy of the Kingdom of Naples, which was expanding rapidly in the last decades of the century. The deteriorating conditions of, above all, the forests of the Calabrian Sila, a vast Crown property over which the monarchy claimed wide-reaching rights (including those of ownership of the trees and the production of pitch), was to be a subject of repeated concern to the Neapolitan reformist movement. It is, however, the judge of the tribunal of the Vicaria Giuseppe Zurlo who, at the end of the century, provides us with the most detailed analysis of the extent and topography of the Sila area, of the conflict between the different interests involved (the Crown, private individuals and the community), and of the centuries-old production techniques employed locally in the treatment of resinous trees.
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This paper contributes to the characterization of the probability density of the price returns in some European day-ahead electricity markets (NordPool, APX, Powernext) by fitting flexible and general families of distributions, su...
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This paper contributes to the characterization of the probability density of the price returns in some European day-ahead electricity markets (NordPool, APX, Powernext) by fitting flexible and general families of distributions, such as the α-stable, Normal Inverse Gaussian (NIG), Exponential Power (EP), and Asymmetric Exponential Power (AEP) distributions, and comparing their goodness of fit. The α-stable and the NIG systematically outperform the EP and AEP models, but the tail behavior and the skewness are sensitive to the definition of the returns and to the deseasonalization methods. In particular, the logarithmic transform and volatility rescaling tend to dampen the extreme returns.
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Novel hybrid organic-inorganic materials were prepared through an innovative synthetic approach based on a co-reticulation in mild conditions of epoxy based organic resins and an MK-based geopolymer inorganic matrix. A high compat...
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Novel hybrid organic-inorganic materials were prepared through an innovative synthetic approach based on a co-reticulation in mild conditions of epoxy based organic resins and an MK-based geopolymer inorganic matrix. A high compatibility between the organic and inorganic phases, even at appreciable concentration of resin, was realized up to micrometric level. A good and homogeneous dispersion (without the formation of agglomerates) of the organic particles was obtained just by hand mixing. These new materials present significantly enhanced compressive strengths and toughness in respect to the neat geopolymer allowing a wider utilization of these materials for structural applications.
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The relationship between the management of knowledge and the Japanese concept of obeya is a neglected topic. Previous studies have classified the different tools and methods adopted in Lean Product Development in the light of the ...
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The relationship between the management of knowledge and the Japanese concept of obeya is a neglected topic. Previous studies have classified the different tools and methods adopted in Lean Product Development in the light of the Socialisation-Externalisation-Combination-Internalisation (SECI) theoretical framework for knowledge management. Following these studies, the aim of this paper is to understand empirical context how obeya is used to integrate knowledge and how its adoption fits with the SECI model. We investigated this relationship using two obeya experiences in Fiat Chrysler Automobiles, within a project that was part of the development of a new longitudinal-engine for Alfa Romeo Giulia.
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Purpose - This article sets out to investigate the relationship between performance management systems (PMSs) and knowledge in public universities. In particular, this paper intends to verify how different choices related to PMS a...
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Purpose - This article sets out to investigate the relationship between performance management systems (PMSs) and knowledge in public universities. In particular, this paper intends to verify how different choices related to PMS affect the nature of knowledge, in terms of the well-known tacit vs explicit dichotomy. Design/methodology/approach - The empirical focus is on the recent PMS changes that have been developing in the "modernisation agenda" of the Italian public sector. In particular, 15 case studies of PMS design in Italian universities are presented. The interpretation of the results is based on the Simon's theoretical framework related to the four levers of control. Findings - Results show how PMSs (in the different forms presented in the universities' evaluation plans) could represent an important social tool to facilitate the management of organizational knowledge, combining explicit and tacit forms of knowledge. Originality/value - This paper tackles a topic neglected in the knowledge management literature, aiming to open up a discussion on the possible interconnections between PMSs and knowledge in the public arena.
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In this paper we study the generation of analytic semigroup in the space L~2(R~d), and the characterization of the domain, for a family of degenerate elliptic operators with unbounded coefficients, which includes some well-known o...
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In this paper we study the generation of analytic semigroup in the space L~2(R~d), and the characterization of the domain, for a family of degenerate elliptic operators with unbounded coefficients, which includes some well-known operators arising in Mathematical Finance. To prove the generation of analytic semigroups, the operators of the family are assumed to satisfy suitable growth and compensation conditions. Under stronger assumptions, we obtain also the characterization of the domain Finally, various consequences of the obtained results are considered in connection with some applications (see, e.g., [6] for financial applications). In a forthcoming paper, part II of this work, we shall examine the problem of the generation of analytic semigroup in L~p (R~d), where p ∈ (2, +∞], and the characterization of the domain, for the same family of operators.
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