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The economic literature presents a large heterogeneity of results concerning the impact of fiscal variables on interest rates. Focusing on the Italian economy and considering the nature of our interest rate determinants (public finance variables and nominal GDP growth), we decided to undertake a cointegration analysis relying on the Autoregressive Distributed Lag (ARDL) bound test approach, a particularly suitable procedure within this framework that is able to disentangle short-run and long-run dynamics. Our results are quite controversial, shedding new light on the role of gross debt and primary balance as a share of GDP in relation to the long-term Italian nominal interest rate. In this context, the ECB has probably played a crucial role, especially in the most severe phases of the Sovereign debt crisis. The European fiscal framework then shows further critical issues in relation to the new role that fiscal variables play in our econometric analysis.

Affinché il mercato del lavoro italiano possa sfruttare le potenzialità di una social blockain, è necessario gestire i database pubblici attraverso un approccio non relazionale. Nell’articolo verranno dunque mostrate le potenzialità di questo approccio rispetto a quello classico relazionale –o tabellare –prendendo ad esempio un campione delle comunicazioni obbligatorie.

In the economic literature, there has been a large heterogeneity of results in relation to the impact of fiscal variables on interest rates. Focusing on the Italian economy and considering the nature of our interest rate determinants (public finance variables and nominal GDP growth), we decided to undertake a cointegration analysis relying on the Autoregressive Distributed Lag (ARDL) bound test approach, a particular suitable procedure within this peculiar framework, able to disentangle short-run and long-run dynamics. Our results are quite controversial, shedding new light on the role of gross debt and primary balance as a share of GDP in relation to the long-term Italian nominal interest rate. In this context, the ECB has probably played a crucial role, especially in the most severe phases of the Sovereign debt crisis. The European fiscal framework then shows further critical issues in relation to the new role that fiscal variables play within our econometric analysis.

This paper investigates an unresolved question in environmental economics: An Environmental Kuznets Curve for deforestation (EKCd). It relies on a 55 year panel of forest cover data reconstructed from the periodic national forest inventories of 114 countries clustered in low, middle, and high income groups—as defined by the World Bank—and examines these clusters within both static and dynamic frameworks. The results are supportive of the inverse U-shaped EKC for deforestation. For low income countries strong effort will be required to avoid further increases in forest loss as these countries develop. Middle income countries, the largest cluster under investigation, display the classic bell-shaped EKCd with the turning point for a decreasing rate of deforestation at US$ 3,790. Deforestation continues thereafter, only at a lower rate until, eventually, for high income countries these rates become negative and these economies begin to show absolute gains in total forest cover. While the combined results from the three clusters confirm the existence of an EKCd, its relatively elevated turning point and the even higher level of development at which forests begin to increase and recover, raise important concern, but also opportunity, for the modern policies and management addressing global forest cover—doubts and opportunities on which the conclusion to this paper reflects further.

Environmental-economic perspectives are recently taking growing momentum in the analysis of country-level performances, but few studies take into account the multi-dimensional nature of the phenomenon. The leading measure of pollution still remains only CO2 emission or, at best, CO2 equivalent emission. The few works taking a multi-criteria perspective are mainly related to specific case studies, urban areas, or the localization of renewable power plants. In this paper, we propose a multi-criteria analysis for a macro-perspective assessment of 10 different pollutants in 30 European countries over the period 2008–2015. Methodologically, we propose a new hybrid tool allowing us to merge the consolidated procedure usually employed for environmental evaluation: PROMETHEE, with a more flexible weighing process inspired by Data Envelopment Analysis. The unprecedented use of this tool for developing a macro perspective allows the clustering of European countries according their relative performances without any exogenous assumption about the weights given to the specific pollutants. In addition, the empirical evidence emerging from the analysis provides a comprehensive picture of patterns followed by European economies, which highlights the relative strengths and flaws at country-level for the considered pollutants.

This research attempts to answer to one of the unresolved questions in forestry economics according to Hyde (2014), the possible existence of an Environmental Kuznets Curve for deforestation. It will be shown how this curve could be re-conciliated with the famous Forest Transition hypothesis of Mather (1992) and even with the competing land use model à la von Thünen of the Forest Development Path proposed by Hyde (2012). The investigation is conducted by means of a cross-country analysis for 114 countries. Forest cover data has been specifically reconstructed based on the last Forest Resource Assessment of FAO (2015). Countries have been clustered into low, middle, and high income economies and panel data techniques, both statics and dynamics, have been implemented. Results conclude for a U-shape curve for low and high income (in this group for reforestation) while a reverse U-shape for middle income economies. However, despite the functional form is preserved among the three groups, turning points change according to model specifications.

This paper reviews the literature of an unresolved question in environmental economics, the environmental Kuznets curve for deforestation (EKCd). It begins by summarizing the general EKC, the idea that economies draw on their environmental resources during initial growth but, with further growth above some level, their environmental decline attains a turning point. Most investigations of the EKCd are limited to approximately 25 years of FAO forest cover data and most feature sets of developing countries. These are short time series for a resource like forests and the paucity of evidence from developed countries is another weakness. Further discussion of two related concepts, the Forest Transition and a von-Thunen-based forest development pattern, shows a second EKC turning point for deforestation which (unlike environmental resources like, say, CO2) can recover with reforestation and addition to the forest base. Altogether, this background of experience recommends that future examinations of the unresolved EKCd reconsider, among others, the duration and thoroughness of the data, the extent of the cross-sectional international coverage, and the potential of a second turning point occurring for higher levels of development.

Brazil has an energy matrix which is based on 45% of renewable sources, and more than 70 % of this electricity is drawn from hydroelectric plants. The present work tries to show how big hydroelectric projects, even if it is globally acknowledged as clean, can hide several threats for both humans and the environment. With this aim, the analytical tool of cost–benefit analysis (CBA) has been applied on two hydroelectric projects: the Tucurui dam (already in operation—attempting to simulate an ex-ante analysis but using actual data) and the Belo Monte dam (not yet fully operating—using forecasts). The evaluation of the feasibility of both these projects is obtained by calculating the ENPV (economic net present value) and the B/C Ratio (benefits to costs ratio). Then subsequent arguments are proposed as to why a technical and quantitative comparison of these projects is difficult to implement in practice, due to uncertainties as to which SDRs (social discount rates) should be applied or upon which distinct formulas should be used to evaluate the amount of the CO2 emissions.

RESUMO: O Brasil, a 7ª potência econômica mundial segundo o FMI, é um dos países do mundo com a matriz energética mais limpa. Desde a década de 80, a opinião pública e os debates oficiais têm estado cada vez mais preocupados com a poluição gerada por qualquer tipo de fonte de energia e agora novos compromissos nesse sentido estão contidos no programa de aceleração do crescimento. A principal parte da produção de energia no Brasil atualmente é baseada na hidroeletricidade, mas a fonte de água está bem concentrada, especialmente na região amazônica, e o impacto da hidroeletricidade não é tão conhecido até o momento. Assim, métodos simples e novos para calcular quanta hidreletricidade está limpa são necessários. Nesse sentido, será apresentado um método baseado na avaliação das emissões de GEE de Tucuruí e Belo Monte (dois dos principais projetos em todo o País). Todo resultado tem que ser comparado com o desempenho de outra fonte de energia que possa, na verdade, representar uma alternativa (a termoeletricidade na Amazônia), enfrentando também o desafio da crescente demanda de energia por diversificar a matriz energética. PALAVRAS-CHAVE: Emissões de GEE, Hidroelétricas, Termoelétricas.

Forest dynamics are changing at a local and global level, with multiple social and environmental implications. The current literature points to different theories and hypotheses to explain these forest dynamics. In this paper, we formalized some of those theories, the environmental Kuznets curve (EKC), the forest transition and the ecologically unequal exchange, into hypotheses tested with a panel dataset covering 111 countries during the period the period 1992–2015. Considering the nature of our data, we relied on cointegration techniques to assess both long- and short-run dynamics in forest change, avoiding possible spurious results. Moreover, we attempted to disentangle direct and indirect effects of our independent variables to uncover the mechanisms that underly forest change dynamics. The results show that there is a long-run dynamic equilibrium relationship between forest cover area, economic development, agricultural area and rural population density. Furthermore, our results confirmed an EKC for high-income countries and post-forest transition countries, while low- and middle-income economies are experiencing different paths. We showed the importance of government quality as a positive feedback mechanism for previous periods of deforestation when tested for all countries together as well as for pre-transition and middle-income economies. Moreover, in low-income economies, economic development affects forest mainly indirectly through the agricultural area.