Early Labour Market Returns to College Subject

Abstract. We estimate early labour market outcomes of Italian university graduates across college subjects. We devote great attention to endogenous selection issues using alternative methods to control for potential self‐selection associated with the choice of the degree subject in order to unravel the causal link between college major and subsequent outcomes in the labour market. Our results suggest that ‘quantitative’ fields (i.e. Sciences, Engineering, and Economics) increase not only the speed of transition into the first job and employment probability but also early earnings, conditional on employment.     

Innovation, workers skills and industrial relations: Empirical evidence from firm-level Italian data

The shifting of labour demand toward relatively more skilled workers has been a hot issue in the economic field for many years. A consolidated explanation for the upskilling phenomenon is that technological–organisational changes have driven the labour demand with detrimental consequences for less skilled workers (skill-biased technological–organisational change). In order to upgrade the skill workforce the firm has at least two main channels at its disposal: the external labour market strategy, mainly based on hiring and firing mechanisms; the internal labour market strategies, which improve the skill base of the employees through training activities.The main objective of the present work is to verify the relations between innovative strategies and both the workforce composition and the training activities, within an integrated framework that also leads us to consider the role of specific aspects of the industrial relations system.The firm level analysis is based on original datasets which include data on manufacturing firms for two Italian local production systems, located in the Emilia-Romagna region.The results suggest that the firms use both the two channels to improve their skill base, which is actually related to the innovation activities, although there is weak supporting evidence of the use of external labour markets to upgrade the workforce skills: the upskilling phenomenon seems to be associated to specific innovative activities in the technological sphere, while specific organisational aspects emerge as detrimental for blue collars. On the side of internal labour market strategies the evidence supports the hypothesis that innovation intensity induces the firms to implement internal procedures in order to upskill the workforce, confirming the importance of internal labour market strategies. Moreover, we have recognized the important role of firm level industrial relations in determining the training activities for the blue collar workers.     

ALLIANCES BETWEEN COMPETITORS AND CONSUMER INFORMATION

Alliances between competitors in which established firms provide access to proprietary resources—for example, their distribution channels—are important business practices. We analyze a market where an established firm, firm A, produces a product of well‐known quality, and a firm with an unknown brand, firm B, has to choose to produce high or low quality. Firm A observes firm B's quality choice but consumers do not. Hence, firm B is subject to a moral hazard problem which can potentially be solved by firm A. Firm A can accept or reject to form an alliance with firm B, which is observed by consumers. If an alliance is formed, firm A implicitly certifies the rival's product. Consumers infer that firm B is a competitor with high quality, because otherwise why would the established firm accept to form an alliance? The mechanism we discover allows for an economic interpretation of several types of business practices. (JEL: L15, L13, L24, L42, M21, M31, D43)     

Monte Carlo methods for nonparametric survival model determination

In the causal analysis of survival data a time-based response is related to a set of explanatory variables. Definition of the relation between the time and the covariates may become a difficult task, particularly in the preliminary stage, when the information is limited. Through a nonparametric approach, we propose to estimate the survival function allowing to evaluate the relative importance of each potential explanatory variable, in a simple and explanatory fashion. To achieve this aim, each of the explanatory variables is used to partition the observed survival times. The observations are assumed to be partially exchangeable according to such partition. We then consider, conditionally on each partition, a hierarchical nonparametric Bayesian model on the hazard functions. We define and compare different prior distribution for the hazard functions.     

A comparison of risk transfer strategies for a portfolio of life annuities based on RORAC

This paper aims to compare different reinsurance arrangements in order to reduce the longevity and financial risk originated by a life insurer while managing a portfolio of annuities policies. Linear and nonlinear reinsurance strategies as well as swap like agreements are evaluated via a discrete-time actuarial risk model. Specifically, longevity dynamics are represented by Lee–Carter type models, while interest rate is modeled by Cox–Ingersoll–Ross model. The reinsurance strategies effectiveness is evaluated according to the Return on Risk Adjusted Capital under a ruin probability constrain.     

Income taxation and equity: new dominance criteria with a microsimulation application

The Journal of Economic Inequality - This paper addresses the problem of the normative evaluation of income tax systems and income tax reforms. While most of the existing criteria, framed in the...     

The policies of unemployment protection in Europe

The abundant literature on welfare state policies, regimes or ‘worlds’ has been only limitedly interested in unemployment protection, and even less in youth unemployment protection. What is clearly lacking in the literature is an updated analysis of the most recent policies developed in European countries targeting youth. This mini‐symposium aims to fill in this gap by presenting findings from an EU‐funded research project entitled ‘Youth, Unemployment and Exclusion in Europe: A Multidimensional Approach to Understanding the Conditions and Prospects for Social and Political Integration of Young Unemployed’ (YOUNEX). The main aim of the research endeavour was to develop theory and contribute to empirical knowledge concerning the social and political exclusion of unemployed youth in Europe.     

Therapeutic Assessment with Children in Family Therapy

Therapeutic Assessment with Children (TA‐C) is a brief semi‐structured intervention in which psychological assessment is used to help families with children and adolescents to change. In this paper we introduce the TA‐C model, describe its semi‐structured format and exemplify how it can be applied by family therapists.     

Are people in the South less intelligent than in the North? IQ and the North–South disparity in Italy

Socioeconomic disparity between North and South Italy has been recently explained by Lynn (2010) as the result of a lower intelligence quotient (IQ) of the Southern population. The present article discusses the procedure followed by Lynn, supplementing his data with new information on school assessments and per head regional income. Genetic North–South differences are then discussed on the basis of the most recent literature on the subject. The results do not confirm the suggested IQ-economy causal link.