The Economic Perspective of Food Poverty and (In)security: An Analytical Approach to Measuring and Estimation in Italy

Social Indicators Research - The UN Sustainable Development Goals have set clear targets on global poverty, hunger and malnutrition to be achieved by 2030, which have prompted academics and...     

Economic Growth and Welfare in a Neoclassical Overlapping Generations Growth Model with Minimum Wages and Consumption Taxes

We examine the effects of minimum wages on both the long‐run per worker GDP and welfare in the textbook Diamond style overlapping generations economy. In addition, we assume the existence of unemployment benefits financed at a balanced budget with consumption taxes. Under suitable conditions, it is shown that a regulated‐wage economy with unemployment performs better than a competitive‐wage economy with full employment in the long run. Moreover, a welfare‐maximizing minimum wage exists. Our findings may have interesting policy implications.     

THE MYSTERY OF THE PRINTING PRESS: MONETARY POLICY AND SELF‐FULFILLING DEBT CRISES

We study the conditions under which unconventional (balance sheet) monetary policy can rule out self‐fulfilling sovereign default in a model with optimizing but discretionary fiscal and monetary policymakers. When purchasing sovereign debt, the central bank effectively swaps risky government paper for monetary liabilities only exposed to inflation risk, thus yielding a lower interest rate. As central bank purchases reduce the (ex ante) costs of debt, we characterize a critical threshold beyond which, absent fundamental fiscal stress, the government strictly prefers primary surplus adjustment to default. Because default may still occur for fundamental reasons, however, the central bank faces the risk of losses on sovereign debt holdings, which may generate inefficient inflation. We show that these losses do not necessarily undermine the credibility of a backstop, nor the monetary authorities' ability to pursue its inflation objectives. Backstops are credible if either the central bank enjoys fiscal backing or fiscal authorities are sufficiently averse to inflation. (JEL: E58, E63, H63)     

Association of Problem Gambling with Type of Gambling Among Italian General Population

The origin of gambling disorders is uncertain; however, research has shown a tendency to focus on specific types of games as a potential important risk factor. The principal aim of this study is to examine the relationships between types of gambling practices and gambling disorder. The data were extracted from IPSAD-Italia^® 2010–2011 (Italian Population Survey on Alcohol and other Drugs), a survey among the Italian general population which collects socio-cultural information, information about the use of drugs, legal substances and gambling habits. In order to identify the “problem gambler” we used the Problem Gambling Severity Index. Three groups are considered in this analysis: no-risk gamblers, low-risk gamblers, moderate-risk/problem gamblers. Type of gambling practice was considered among two types of gambler: one-game players and multi-games players. 1.9 % of multi-game players were considered problem gamblers, only 0.6 % of one-game players were problem gamblers (p < 0.001). The percentage of players who were low and moderate-risk gamblers was approximately double among multi-game players, with 14.4 % low-risk and 5.8 % moderate-risk; compared with 7.7 % low-risk and 2.5 % moderate risk among one-game players. Results of ordinal logistic regression analysis confirmed that higher level of gambling severity was associated with multi-game players (OR = 2.23, p < 0.0001). Video-poker/slot-machines show the highest association with gambling severity among both one-game players and multi-game players, with scores of OR equal to 4.3 and 4.5 respectively. These findings suggest a popular perception of risk associated with this type of gambling for the development of gambling problems.     

Why do immigrants have longer periods of unemployment? Swiss evidence

Immigrant groups, especially those originating from non‐European countries, tend to experience disadvantages in the labour market and to be overrepresented among the recipients of welfare benefits in many European countries. In the public debate, this outcome is sometimes explained with reference to migration‐related factors such as weaker work values than natives (i.e., acceptability of remaining on benefits), smaller and lower quality of informal networks and lower levels of psychological well‐being. Indeed, we find that these factors significantly influence unemployment duration in the expected direction. However, they explain only a small share of the overall disadvantage that some immigrant groups experience. We conclude that at least some of the large differences we observed in unemployment durations are likely to be due to other factors including discrimination by employers.     

Bounded Estimation in the Presence of Nuisance Parameters

The aim of this paper is to extend in a natural fashion the results on the treatment of nuisance parameters from the profile likelihood theory to the field of robust statistics. Similarly to what happens when there are no nuisance parameters, the attempt is to derive a bounded estimating function for a parameter of interest in the presence of nuisance parameters. The proposed method is based on a classical truncation argument of the theory of robustness applied to a generalized profile score function. By means of comparative studies, we show that this robust procedure for inference in the presence of a nuisance parameter can be used successfully in a parametric setting.     

When Past Reforms Open New Opportunities: Comparing Old-age Insurance Reforms in Bismarckian Welfare Systems

France, Italy, Germany, Austria and Spain have all gone through several waves of pension reforms both in the 1990s and in the early 2000s. Comparing the politics of these reforms shows some similar trends: reforms were usually postponed until European integration and/or economic recession forced governments to act. Before the first wave of reforms, the main form of ‘action’ had been to increase payroll taxes to finance pensions. In the 1990s, reforms were usually negotiated on the basis of a quid pro quo: benefits were intended progressively to decrease in exchange for non-contributory pensions being financed from general tax revenues instead of through the insurance schemes. The second wave of reforms (during the 2000s) seems to have brought more innovation, with new goals such as the development of voluntary private pension funds and the need to increase employment rates among the elderly and to stop early retirement. The article aims, first, to trace the political processes leading to these reforms; second, to reveal the commonalities in these processes between the various cases; and third, to highlight the differences between the first and second waves of pension reform. It will emphasize the role of ‘sequencing’ and demonstrate how each pension reform facilitates the adoption of the next one.     

Specialization Versus Diversification in EU Economies: A Challenge for Agro-Food?

Much attention has been paid to industrial differentiation versus specialization. In EU, the phenomenon of secondary production is important enough since it absorbs 6.3% of the total output at basic prices. Through the development of new symmetrical indicators, we point out the ability of economic branches to diversify, penetrate and invade others. This analysis is applied both to EU countries and to economic system branches, focusing the analysis on the challenges facing Agriculture and Food and beverage industry. We can assume that the most advanced countries belong to a post-modern or post-industrial stage of development. The only way to continue to stay on the market is to diversify production and to emphasize the search for a quality/price ratio attractive for the consumer. On the contrary, less advanced countries of Central and Eastern Europe are rather in the initial or intermediate stages of industrialization in which agriculture, crafts and traditional services still have a certain importance and, as we know, undertake more differentiated activities. What emerges is a watershed between continental and Mediterranean countries. Eastern Europe is still anchored to a traditional behavior. In synthesis we find three fundamental trends: (a) a long period continuity of those complementary activities that have always characterized agriculture; (b) the different structure of secondary production in the EU countries; (c) different barriers to entry, that explain asymmetries in the behavior of branches otherwise more or less related. Remark that these barriers may be not only physical or economical but also normative, thus introducing more differences in the behavior of different countries.     

Processes of Institutionalization and Differentiation in the Italian Third Sector

The article describes the recent evolution of the Italian third sector, focusing particularly on its changing role in relation to welfare policies and on its contribution to the development of the provision of social services. In contrast with those considering the emergence and development of the sector solely, or mainly, as a consequence of decisions made by external actors, especially public institutions, the article shows a more complex and dynamic picture. The article demonstrates that the Italian third sector, although at the present time largely engaged in contractual services with the public sector, has maintained a level of autonomy that allows for continuous innovation both within and external to the social service sector. The Italian case supports the need for further debate on the role of the third sector in modern society.