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Your search keyword '"Pier Luigi Belvisi"' showing total 4 results
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4 results on '"Pier Luigi Belvisi"'

1. GreenIT. Economia circolare, consumo sostenibile e valore del made in Italy - e-Book : III Rapporto del Centro di Ricerca sul Made in Italy dell'Università degli Studi Internazionali di Roma

Author

Marco Bellotto, Valentina Beretta, Generoso Branca, Mario D'arco, Francesca De Canio, Patrizia De Luca, Maria Chiara Demartini, Benedetta Grandi, Gabriele Iaconcig, Elisa Martinelli, Beatrice Re, Riccardo Resciniti, Vincenzo Carbone, Pier Luigi Belvisi, Giada Mainolfi, Vittoria Marino, Donata Tania Vergura, Sara Trucco, Brigit Hagen, Marco Bellotto, Valentina Beretta, Generoso Branca, Mario D'arco, Francesca De Canio, Patrizia De Luca, Maria Chiara Demartini, Benedetta Grandi, Gabriele Iaconcig, Elisa Martinelli, Beatrice Re, Riccardo Resciniti, Vincenzo Carbone, Pier Luigi Belvisi, Giada Mainolfi, Vittoria Marino, Donata Tania Vergura, Sara Trucco, and Brigit Hagen

Published
2023

2. Investment and exchange rate uncertainty

Author

Vincenzo Atella, Pier Luigi Belvisi, and Gianfranco Enrico Atzeni

Subjects
Macroeconomics, Economics and Econometrics, Devaluation, Innovation process, investment, Monetary economics, exchange rate, Settore SECS-P/02 - Politica Economica, Profit (economics), firm heterogeneity, uncertainty, Incentive, Exchange rate, Return on investment, Marginal product, Economics, Market power
Abstract

The literature on the relationship between exchange rate and investment mainly focuses on the devaluation argument, which provides evidence that a devaluation may positively affect investment spending. The goal of this paper is to extend the analysis to how exchange rate variability can influence firm innovation process. Employing a large panel of Italian firms and using a model of signal extraction we find that exchange rate volatility reduces investment, with a decreasing sensitivity the greater the firm market power. A stable exchange rate is then an incentive to invest as it allows a more reliable estimation of its marginal productivity. To this extent, any economic system may benefit from a stable exchange rate in terms of investment and profit, provided it is able to strengthen its firm market power.

Published
2003

3. Investment and Exchange Rate Under Uncertainty

Author

Vincenzo Atella, Gianfranco Enrico Atzeni, and Pier Luigi Belvisi

Subjects
Microeconomics, Interest rate parity, Incentive, Exchange rate, Return on investment, Devaluation, Marginal product, Economics, Market power, Profit (economics)
Abstract

The literature on the relationship between exchange rate and investment mainly focuses on the devaluation argument, which provides evidence that a devaluation may positively affect investment spending. The goal of this paper is to extend the analysis to how exchange rate variability can influence firm innovation process. Employing a large panel of Italian firms and using a model of signal extraction we find that exchange rate volatility reduces investment, with a decreasing sensitivity the greater the firm market power. A stable exchange rate is then an incentive to invest as it allows a more reliable estimation of its marginal productivity. To this extent, any economic system may benefit from a stable exchange rate in terms of investment and profit, provided it is able to strengthen its firm market power.

Published
2003
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