Di.S.E.S. working papers

database of publications by collections


Di.S.E.S. ordinary collection


Last 10 papers


Paper nr. 486

Title: FACTORS ENHANCING AI ADOPTION BY FIRMS. EVIDENCE FROM FRANCE
Authors: Alessia Lo Turco, Alessandro Sterlacchini
Month/Year: April 2024
JEL codes: O31, O33
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/486.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/486.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:486&o=all
Abstract:
In this paper we consider firms involved in two waves (2019 and 2021) of the French ICT survey to distinguish between early and late adopters of AI technologies and to highlight some relevant antecedents that facilitated the former to keep and the latter to start adopting them. The implementation of data security systems, the training and recruitment of employees for ICT, and the use of websites and social media for collecting information on customers, increase the probability of keeping and starting the AI adoption. We also show that the impact of these factors differs according to the business function AI technologies are used for. They appear to be more relevant for the administration and marketing functions. Furthermore, the usage of AI for marketing is also fostered by the antecedent use of e-commerce and CRM applications. These findings support the hypothesis that the AI adoption by firms is shaped by a hierarchical trajectory, from less to more complex and demanding technologies in terms of complementary investments in ICT and skills.

Paper nr. 485

Title: HEALTHCARE EFFICIENCY AND ELDERLY MORTALITY IN ITALY
Authors: Rostand Arland Yebetchou Tchounkeu, Raffaella Santolini, Giulio Palomba, Elvina Merkaj
Month/Year: February 2024
JEL codes: I10, I18.
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/485.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/485.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:485&o=all
Abstract:
The aim of this study is to assess the impact of healthcare efficiency on the mortality rate of elderly people aged 65 and 75 years old and over. To do this, we estimate a dynamic panel data model using the system generalised method of moments (SYS-GMM) on 106 Italian provinces over the period 2012-2019. To measure the efficiency index in the health sector, we apply the Data Envelopment Analysis (DEA) method. We also calculate the index via a bootstrap DEA method for robustness checks. Our results show that, on average, a 10% increase in healthcare efficiency at the Italian provincial level reduces the mortality rate of older adults by approximately 2% to 3%. Improving healthcare efficiency is crucial in enhancing the health services for the elderly and reduce mortality for this age group. Our findings could be helpful to policymakers in adopting measures that aim to increase healthcare efficiency, taking into account the specific needs of an aging population.

Paper nr. 484

Title: THE IMPACT OF HIGH TEMPERATURES ON PERFORMANCE IN WORK-RELATED ACTIVITIES
Authors: Matteo Picchio, Jan C. Van Ours
Month/Year: December 2023
JEL codes: J24, J81, Q51, Q54
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/484.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/484.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:484&o=all
Abstract:
High temperatures can have a negative effect on work-related activities because workers may experience difficulties concentrating or have to reduce effort in order to cope with heat. We investigate how temperature affects performance of professional tennis players in outdoor singles matches in big tournaments. We find that performance significantly decreases with ambient temperature. This result is robust to including wind speed and air pollution in the analysis. There are no differences between men and women. However, there is some heterogeneity in the magnitude of the temperature effect in other dimensions. In particular, we find that the temperature effect is smaller when there is more at stake. Our findings also suggest that the negative temperature effect is smaller if the heat lasts, i.e. there is some adaptation to high temperatures.

Paper nr. 483

Title: IDIOSYNCRATIC AND SYSTEMATIC SPILLOVERS THROUGH THE RENEWABLE ENERGY FINANCIAL SYSTEMS
Authors: Marco Tedeschi
Month/Year: December 2023
JEL codes: C22; C58; Q40
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/483.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/483.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:483&o=all
Abstract:
This study examines the relationship between fossil fuels energy prices and renewable energy ETFs through a two-step approach: cointegration analysis and volatility spillover examination at both aggregate and frequency levels. Using daily closing prices from May 5, 2014, to October 31, 2023, we find evidence of cointegration among prices and a substitutedness (complementarity) relationship between fossil fuels and eolic (solar) energy. Exploring the system's common trend and correction mechanism underscores the influential role of growing Environmental, Social, and Governance (ESG) sentiment in the market. External events, such as the Russia-Ukraine war and the Covid-19 pandemic, have discernible impacts on financial prices. The study provides valuable implications for investors and hedgers, offering guidance for portfolio optimization and emphasizing the consideration of sustainable financial products.

Paper nr. 482

Title: YOU'LL NEVER WALK ALONE: UNEMPLOYMENT, SOCIAL NETWORKS AND LEISURE ACTIVITIES
Authors: Mattia Filomena, Matteo Picchio
Month/Year: November 2023
JEL codes: I31, J01, J64
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/482.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/482.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:482&o=all
Abstract:
We analyse how unemployment affects individuals' social networks, leisure activities, and the related satisfaction measures. Using the LISS panel, a representative longitudinal survey of the Dutch population, we estimate the effects by inverse propensity score weighting in a difference-in-differences design in order to deal with unobserved heterogeneity and unbalanced covariate distribution between treated and control units potentially associated with the dynamics of the outcome variables. We find that, after job loss, individuals increase their network size by strengthening their closest contacts within the family, spending more time with neighbors, and making more use of social media. Although they devote their extra leisure time mostly to private activities, our results do not support the hypothesis of social exclusion following unemployment.

Paper nr. 481

Title: SAME OLD SONG: ON THE MACROECONOMIC AND DISTRIBUTIONAL EFFECTS OF LEAVING A LOW INTEREST RATE ENVIRONMENT
Authors: Alberto Botta, Eugenio Caverzasi, Alberto Russo
Month/Year: September 2023
JEL codes: E24, E44, E52
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/481.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/481.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:481&o=all
Abstract:
This paper analyzes the macroeconomic and distributional implications of central banks' decisions to raise interest rates after a prolonged period at near the Zero Lower Bound (ZLB). The main goal of our study is to assess the interaction between monetary policy, inequality, and financial fragility, in a financialized economic system. Financialization is here portrayed as the presence in the economy of complex financial products, i.e., asset-backed securities, produced via the securitization of banks' loans. We do so in the context of a hybrid Agent-Based Model (ABM). We first compare the prevailing macroeconomic and nancial features of a low interest rate environment (LIRE) with respect to a "Great Moderation"(GM)-like setting. As expected, we show that LIRE tends to stimulate faster growth and higher employment, and to reduce income and wealth inequality, as well as (poor) households' indebtedness. Consistent with existing empirical literature, this comes at the cost of higher inflation and some signs of financial system's fragility, i.e., lower banks' profitability and Capital Adequacy Ratio (CAR), and higher "search for risk" given by credit extension to poorer households. We then show that increases in the central bank's policy rate, as motivated by the central bank's willingness to reduce inflation, effectively curb price dynamics and accomplish with central bank's inflation targeting mandate. Higher interest rates also improve commercial banks' CAR and profitability. However, they also cause a pronounced increase in non-performing loans (stronger than what possibly observed in a GM scenario) and some worrisome macro-financial dynamics. In fact, higher interest rates give rise to higher households' and overall economy indebtedness as allowed by wealthier households' demand for highyield complex financial products and mounting securitization. We finally show how financialization structurally changes the functioning of the economy and the behavior of central banks. Financialization actually contributes to create a (private sector) debt-led economy, which becomes structurally more resistant to central bank's attempts to control inflation. Central bank's reaction in terms of higher interest rates could likely come with perverse distributional consequences.

Paper nr. 480

Title: PERSISTENCE OF R&D INTENSITIES IN THE WORLD'S TOP INVESTORS IN R&D
Authors: Claudia Pigini, Alessandro Sterlacchini, Francesco Valentini
Month/Year: June 2023
JEL codes: O3, L2
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/480.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/480.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:480&o=all
Abstract:
There is extensive empirical evidence of a within-sector heterogeneity in terms of firms' R&D intensity (share of expenditures on sales) which, moreover, does not converge to a common level over time. Using a balanced panel of the world's top R&D investors, we first investigate whether there is a different degree of time persistence along the R&D intensity distribution. Secondly, we analyse whether the persistence in and the transition to different levels are heterogeneous between four R&D-intensive sectors. As a general result, we find that companies starting with low R&D intensities are more likely to move towards the sector medium levels than those exerting a high innovative effort, which persist in the right tail of the distribution. With the exception of the Pharmaceutical sector, company size affects negatively (positively) the persistence and the entry rate into the top (bottom) 20% of the R&D intensity distribution. Differences across sectors emerge with respect to the impact of other company characteristics (profitability, capital investment, and location)

Paper nr. 479

Title: PUBLIC HEALTH EFFICIENCY AND WELL-BEING IN ITALIAN PROVINCE
Authors: Rostand Arland Yebetchou Tchounkeu
Month/Year: May 2023
JEL codes: C33, C36, H75, I31, J58
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/479.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/479.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:479&o=all
Abstract:
Health is a fundamental human right, and good health is an essential component of well-being; therefore, an ecient public health system is required to achieve well-being in society. This paper analyses the relationship between public health eciency and well-being considering a panel of 102 Italian provinces from 2000 to 2016. The results show that public health eciency enhances well-being in Italian provinces, especially in the North. The ndings could help policymakers adopt measures to strengthen the public health system, encourage private providers, and inspire countries worldwide.

Paper nr. 478

Title: INTERGENERATIONAL SCARS: THE IMPACT OF PARENTAL UNEMPLOYMENT ON INDIVIDUAL HEALTH LATER IN LIFE
Authors: Michele Ubaldi, Matteo Picchio
Month/Year: May 2023
JEL codes: I14, J13, J62, J65
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/478.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/478.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:478&o=all
Abstract:
This paper studies whether individuals that experienced parental unemployment during their childhood/early adolescence have poorer health once they reach the adulthood. We used data from the German Socio-Economic Panel from 2002 until 2018. Our identification strategy of the causal effect of parental unemployment relied on plant closures as exogenous variation of the individual labor market condition. We combined matching methods and parametric estimation to strengthen the causal interpretation of the estimates. On the one hand, we found a nil effect for parental unemployment on mental health. On the other hand, we detected a negative effect on physical health. The latter is stronger if parental unemployment occurred in early periods of the childhood, and it is heterogeneous across gender. The negative effect of parental unemployment on physical health may be explained by a higher alcohol and tobacco consumption later in life.

Paper nr. 477

Title: ENERGY EFFICIENCY GAINS FROM MULTINATIONAL SUPPLY CHAINS: EVIDENCE FROM TURKEY
Authors: Michele Imbruni, Alessia Lo Turco, Daniela Maggioni
Month/Year: April 2023
IDEAS/RePEc url: https://ideas.repec.org/p/anc/wpaper/477.html
Download: http://docs.dises.univpm.it/web/quaderni/pdf/477.pdf
Citations: http://citec.repec.org/cgi-bin/get_data.pl?h=RePEc:anc:wpaper:477&o=all
Abstract:
We inspect whether multinational supply chains bring energy efficiency gains to domestic firms active in a host country. Our theoretical model suggests that the presence of foreign firms in upstream manufacturing and energy industries expands the availability of high-quality inputs for downstream domestic firms, implying a reduction in their energy intensity. We test these theoretical predictions using data from Turkish manufacturing firms over the period 2010-2015. Our empirical analysis shows that domestic-owned firms in sectors that are more likely to buy manufacturing and energy inputs from foreign-owned suppliers tend to reduce their energy intensity, confirming environmental gains from FDI. When exploring the underlying mechanisms, we provide evidence that the presence of foreign firms in upstream sectors leads to an increase in the quality of available inputs which turns into improvements in downstream domestic firms' energy efficiency.