if this message does not display correctly, click here | Table of Contents Marco Centoni, University Lumsa
Gianluca Cubadda, University of Rome II - Department of Economics and Finance Francesco Saverio Mennini, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS), Kingston University - School of Accounting and Finance
Paolo Sciattella, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS)
Andrea Marcellusi, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS), University of Rome I
Alberico Marcobelli, Government of the Italian Republic (Italy) - Regione Marche
Alessandra Russo, University of Messina
Achille Patrizio Caputi, University of Messina Sara Calligaris, University of Rome, Tor Vergata | |
CEIS: CENTRE FOR ECONOMIC & INTERNATIONAL STUDIES
Vincenzo Atella - Director "Common Feature Analysis of Economic Time Series: An Overview and Recent Developments" 
CEIS Working Paper No. 355 MARCO CENTONI, University Lumsa
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GIANLUCA CUBADDA, University of Rome II - Department of Economics and Finance
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In this paper we overview the literature on common features analysis of economic time series. Starting from the seminal contributions by Engle and Kozicki (1993) and Vahid and Engle (1993), we present and discuss the various notions that have been proposed to detect and model common cyclical features in macroeconometrics. In particular, we analyze in details the link between common cyclical features and the reduced-rank regression model. We also illustrate similarities and differences between the common features methodology and other popular types of multivariate time series modelling. Finally, we discuss some recent developments in this area, such as the implications of common features for univariate time series models and the analysis of common autocorrelation in medium-large dimensional systems. "Treatment Plan Comparison in Obstructive Respiratory Disorders: An Observational Study of Doxofylline vs. Theophylline in the Marche Region"
CEIS Working Paper No. 356 FRANCESCO SAVERIO MENNINI, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS), Kingston University - School of Accounting and Finance
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PAOLO SCIATTELLA, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS)
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ANDREA MARCELLUSI, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS), University of Rome I
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ALBERICO MARCOBELLI, Government of the Italian Republic (Italy) - Regione Marche
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ALESSANDRA RUSSO, University of Messina
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ACHILLE PATRIZIO CAPUTI, University of Messina
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OBJECTIVES:
To estimate: a) the number of users of theophylline (ATC: R03DA04) and doxofylline (ATC: R03DA11) for the treatment of chronic asthma and/or COPD in adults, in the Marche Region (Italy); b) the global cost related to the use of the two drugs (associated drugs, specialist visits, hospital admissions, plasma drug monitoring).
METHODS:
The drug prescriptions were extracted from the Information System of the Pharmaceutical Prescriptions of the Marche Region (PHARM), containing all the prescriptions sent by pharmacies within the region and reimbursed by the National Health Service.
All the prescriptions for each ATC code in the years 2008-2012 were extracted and the number of prescriptions per year was obtained. The number of subjects receiving >1 prescription of the ATC codes R03DA04 and R03DA11 was identified and the number of users was estimated.
The concomitant drug number was estimated by selecting all the prescriptions for potentially associated ATCs dispensed 30 days before or after the first prescription of ATC codes.
The price of prescriptions was calculated using the information "price" contained in the PHARM record.
RESULTS:
For both drugs in the study period 13,574 patients were treated with theophylline (94,454 prescriptions) and 19,426 patients with doxofylline (62,791). The number of patients treated was approximately 5,000 per year. Both the number of patients and prescriptions declined during the period of study. The number of prescriptions of theophylline was higher in men, that of doxofylline higher in women. Both theophylline and doxofylline prescriptions increased with the age of patients.
Co-prescription with other drugs was lower for doxofylline (1.55) than theophylline (5.50) in the total population (71.7% reduction). In the aged patients the reduction of doxofylline prescriptions versus theophylline was 66%.
The use of corticosteroids associated with doxofylline was lower versus theophylline: a) in the total population (0.3 vs 0.7), b) in men (0.3 vs 0.9), c) in women (0.3 vs 0.6) and in aged patients (0.3 vs 0.8; 58.1% less).
The mean number of specialist visits was lower in patients treated with doxofylline than in those treated with theophylline in the total population (2.05 vs 3.73), in men (2.38 vs 4.43), in women (1.75 vs 2.95) and aged people (2.52 vs 4.18).
The mean number of hospital admissions (per 100 patients) was lower for patients treated with doxofylline than for those treated with theophylline in the total population (1.57 vs 3.3) and in aged people (1.94 vs 3.09).
In the total population, the annual mean cost of global treatment per patient was €187.4 for those treated with doxofylline and €513.5 for theophylline, while in the aged people it was €247.7 (doxofylline) and €577.3 (theophylline).
CONCLUSIONS:
The PHARM allows to estimate drug utilization, taking into account the overall patient treatment plan. In our study, compared to theophylline, the prescription of doxofylline was associated less with prescriptions of other drugs, corticosteroids and specialized visits as well as hospital admissions. Therefore, doxofylline resulted to be associated with a reduction of the overall cost of the disease compared to theophylline. "Misallocation and Total Factor Productivity in Italy: Evidence from Firm-Level Data"
CEIS Working Paper No. 357 SARA CALLIGARIS, University of Rome, Tor Vergata
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Over the last two decades, total factor productivity (TFP) in Italy decreased by 0.2% per year, while increasing on average in the Euro-area countries. This decline suggests the existence of large inefficiencies in the allocation of resources, making the Italian case particularly interesting and suitable in order to study the role of misallocation. In this paper, I quantify the within-industry misallocation of inputs in Italy over the period 1993-2011, by applying the Hsieh and Klenow's (2009) methodology. Using a micro-level longitudinal dataset of Italian manufacturing firms, I find that, in the hypothetical absence of distortions, aggregate TFP in manufacturing would be boosted by 58% in 1993, by 67% in 2006 and by 80% in 2011. This leads to a twofold conclusion: first, misallocation plays a crucial role in determining the inefficiency level of the Italian manufacturing sector; second, misallocation has increased over time. Given the magnitude of the results obtained and the policy implications related thereto, I take a step ahead by checking to what extent the degree of misallocation can be attributed to specific characteristics of the Italian firms: it emerges that misallocation is higher for firms located in the South and at low-technological intensity, as well as for small or young firms. | | ^top
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