if this message does not display correctly, click here | Table of Contents Vincenzo Atella, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS), Department of Economics and Finance, University of Rome, Tor Vergata - Faculty of Economics Edoardo Di Porto, University of Naples Federico II Joanna Kopinska, University of Rome, Tor Vergata - Faculty of Economics, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS) Luisa Corrado, University of Rome, Tor Vergata - Faculty of Economics Giuseppe De Michele, University of Rome, Tor Vergata - Department of Economics and Finance Barbara Annicchiarico, University of Rome, Tor Vergata - Department of Economics and Law Alessandra Pelloni, University of Rome II, Department of Economics Fabrizio Valenti, University of Rome, Tor Vergata - Department of Economics and Finance | |
CEIS: CENTRE FOR ECONOMIC & INTERNATIONAL STUDIES Vincenzo Atella - Director "Stress, Famine and the Fetal Programming: The Long Term Effect of WWII in Italy" CEIS Working Paper No. 385 VINCENZO ATELLA, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS), Department of Economics and Finance, University of Rome, Tor Vergata - Faculty of Economics Email:
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EDOARDO DI PORTO, University of Naples Federico II Email:
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JOANNA KOPINSKA, University of Rome, Tor Vergata - Faculty of Economics, University of Rome, Tor Vergata - Centre for International Studies on Economic Growth (CEIS) Email:
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This paper analyses the eff ect of in utero and at birth exposure to WWII intensity on long-run health and economic outcomes. We link individual clinical electronic records collected by General Practitioners (GPs) for a large sample of Italian adults with detailed information on the intensity of exposure to WWII conflict, disaggregated by month and province of birth. Under weak assumptions, which we discuss and test carefully, our analysis provides a lower bound of the long-run causal e ffect of WWII intensity on adult health. We show that individuals exposed to intense WWII conflicts while in utero are more likely to present health problems In particular, we fi nd that early life stress caused by the war increases the probability of Dislipidemia and Depression, while famine increases the probability of Diabetes and Obesity. We find that these e ffects are heterogeneous across the trimester of exposure during pregnancy and across moments of outcome realisation later in life. "Mind the Gap: Identifying Latent Objective and Subjective Multi-Dimensional Indices of Well-Being" CEIS Working Paper No. 386 LUISA CORRADO, University of Rome, Tor Vergata - Faculty of Economics Email:
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GIUSEPPE DE MICHELE, University of Rome, Tor Vergata - Department of Economics and Finance Email:
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Within the OECD Better Life Initiative, the Better Life Index (BLI) represents a major attempt to measure well-being and societal progress beyond GDP, following up the recommendations outlined in the Stiglitz-Sen-Fitoussi Commission report. Using a Structural Equation Modeling (SEM) approach, we estimate BLI as a latent construct starting from eleven underlying dimensions of well-being. This method, based on variance-covariance matrices, allow us to study the interrelations and causal relationships across well-being determinants and across the underlying drivers of well-being. In our analysis we utilize two different comparable OECD datasets for the year 2012, one based on average country-level data re‡ecting well-being outcomes, the other one on microdata refl‡ecting people’s stated preferences on well-being indicators. In order to deal with the idiosyncratic structures of the datasets, we apply two Structural Equation Modeling techniques –bootstrapped SEM and Generalised SEM MIMIC- to estimate the relative weights and rankings of BLI dimensions. We then build an ‘objective’ BLI measure predicted from the national-level data, whereas a ‘subjective’BLI is obtained using the new OECD microdata. Finally, we conclude our analysis comparing the objective and subjective BLI dimensions weights and country rankings and discussing the main policy implications. "Volatility and Growth with Recursive Preferences" CEIS Working Paper No. 387 BARBARA ANNICCHIARICO, University of Rome, Tor Vergata - Department of Economics and Law Email:
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ALESSANDRA PELLONI, University of Rome II, Department of Economics Email:
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FABRIZIO VALENTI, University of Rome, Tor Vergata - Department of Economics and Finance Email:
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This paper studies the relationship between volatility and long-run growth in a complete market economy with human capital accumulation and Epstein-Zin preferences. There is both cross-country and time-series evidence that volatility is associated with lower growth. Matching this evidence has proved a challenge for growth models with no market failures as they tend to predict the opposite for values of risk aversion higher than unity. However in our model, risk aversion and intertemporal elasticity of substitution are allowed to move independently of each other, and when both are relatively high or relatively low, the relationship between volatility and growth is negative. Indeed this is the case for parametrizations of preferences in line with the literature. | | ^top
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