if this message does not display correctly, click here | Table of Contents Barbara Annicchiarico, University of Rome, Tor Vergata - Department of Economics and Law
Alessandra Pelloni, University of Rome II, Department of Economics Federico Belotti, University of Rome, Tor Vergata - Faculty of Economics
Edoardo Di Porto, University of Naples Federico II
Gianluca Santoni, Centre d'Etudes Prospectives et d'Info. Internationales (CEPII) Gloria Di Caprera, University of Rome, Tor Vergata, Faculty of Economics, Department of Economics, Law and Institutions, Students | |
CEIS: CENTRE FOR ECONOMIC & INTERNATIONAL STUDIES
Vincenzo Atella - Director "Innovation, Growth and Optimal Monetary Policy" 
CEIS Working Paper No. 376 BARBARA ANNICCHIARICO, University of Rome, Tor Vergata - Department of Economics and Law
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ALESSANDRA PELLONI, University of Rome II, Department of Economics
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This paper examines how the mechanism driving growth in the economy is likely to affect the optimal monetary policy response to shocks. We consider the Ramsey policy in a New Keynesian model in which growth is sustained by the creation of new patented technologies through R&D and we compare the results obtained with those arising when growth is exogenous. We find that optimal monetary policy must be counter-cyclical in face of both technology and public spending shocks, but the intensity of the reaction crucially depends on the underlying growth mechanism. "The Effect of Local Taxes on Firm Performance: Evidence from Geo-Referenced Data"
CEIS Working Paper No. 377 FEDERICO BELOTTI, University of Rome, Tor Vergata - Faculty of Economics
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EDOARDO DI PORTO, University of Naples Federico II
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GIANLUCA SANTONI, Centre d'Etudes Prospectives et d'Info. Internationales (CEPII)
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This paper investigates the impact of business property taxation on firms' performance using a panel of Italian manufacturing firms. To account for endogeneity in local taxation, we exploit a pairwise spatial differenced generalized method of moments estimator. As well as providing robust inference, we also improve on existing work by exploiting the exogenous variation in local taxes generated by the political alignment of each local government with the central one. We find that property taxation exerts a negative impact on firms' employment, capital and sales to such an extent as to significantly affect total factor productivity. "Ready to Learn: The Role of Childcare Attendance on Children's School Outcomes in Italy"
CEIS Working Paper No. 378 GLORIA DI CAPRERA, University of Rome, Tor Vergata, Faculty of Economics, Department of Economics, Law and Institutions, Students
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This work investigates the casual effect of childcare attendance on children's school achievements. We analyse data about children's school outcomes in mathematics and language focusing on pupils attending second and fifth grade in Italian primary school in conjunction with data providing public childcare coverage at provincial level. Using IV identification strategy, we show that childcare attendance leads to better school outcomes and early investment in education boosts both mathematics and language skills. For both school grades our results highlight a positive and significant effect of childcare attendance on children's school achievements which does not dissipate over time. | | ^top
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