Author
Antonello E. Scorcu
Bio: Antonello E. Scorcu is an academic researcher from University of Bologna. The author has contributed to research in topics: Common value auction & Price index. The author has an hindex of 17, co-authored 59 publications receiving 1239 citations.
Topics: Common value auction, Price index, Tourism, Hedonic index, Exhibition
Papers published on a yearly basis
Papers
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TL;DR: In this article, a descriptive analysis of the long and short run correlations among saving, investment, and growth rates for 123 countries over the period 1961-94 is presented. But the analysis is limited to the USA.
Abstract: This paper provides a descriptive analysis of the long- and short-run correlations among saving, investment, and growth rates for 123 countries over the period 1961-94. Three results are robust across data sets and estimation methods: i) lagges saving rates are positively related to investment rates; ii) investment rates Granger cause growth rates with a negative sign; iii) growth rates Granger-cause investment with a positive sign.
399 citations
TL;DR: In this article, a price index for modern and contemporary paintings based on estimates and auction prices is proposed for the evaluation of the Italian art market and for comparisons with returns on other assets.
Abstract: This paper proposes a price index for modern andcontemporary paintings based on estimates and auctionprices. We use this index for the evaluation of theItalian art market and for comparisons with returns onother assets. During the period 1983–1994 art pricesincreased in line with inflation but returns onpaintings were lower than returns on financial assets.In the long run art prices are unrelated to financialassets prices, but a positive correlation with realestate prices emerges.
110 citations
TL;DR: In this article, the authors analyzed the economic determinants of crime rates in Italy over the period 1951 to 1994 and showed that cointegrating relationships connect the long-run equilibrium levels of crime rate to economic factors in the presence of endogenously determined structural breaks.
65 citations
TL;DR: In this paper, the authors explored the relationship between label achievement and inbound tourist flows and found that the presence of at least one signal is effective in attracting tourists, no significant difference emerges among destinations with different signal intensity.
64 citations
TL;DR: It is found that for each of three broad sub-markets in which the book publishing industry can be classified, sales over a three-year sample can be adequately fitted by a power law distribution.
62 citations
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TL;DR: In this article, the authors introduce the concept of ''search'' where a buyer wanting to get a better price, is forced to question sellers, and deal with various aspects of finding the necessary information.
Abstract: The author systematically examines one of the important issues of information — establishing the market price. He introduces the concept of «search» — where a buyer wanting to get a better price, is forced to question sellers. The article deals with various aspects of finding the necessary information.
3,790 citations
TL;DR: This paper explored a monetary policy model with habit formation for consumers, in which consumers' utility depends in part on current consumption relative to past consumption, and found that the responses of both spending and inflation to monetary policy actions are signicantly improved by this modication (JEL D12, E52, E43).
Abstract: This paper explores a monetary policy model with habit formation for consumers, in which consumers’ utility depends in part on current consumption relative to past consumption The empirical tests developed in the paper show that one can reject the hypothesis of no habit formation with tremendous condence, largely because the habit formation model captures the gradual hump-shaped response of real spending to various shocks The paper then embeds the habit consumption specication in a monetary policy model and nds that the responses of both spending and inflation to monetary policy actions are signicantly improved by this modication (JEL D12, E52, E43)
1,255 citations
TL;DR: In this article, the role of demand growth, monetary expansion and exchange rate movements in explaining price movements over the period since 1971 has been investigated and it was shown that index-based investment in agricultural futures markets is the major channel through which macroeconomic and monetary factors generated the 2007-2008 food price rises.
Abstract: Agricultural price booms are better explained by common factors than by market-specific factors such as supply shocks. A capital asset pricing model-type model shows why one should expect this and Granger causality analysis establishes the role of demand growth, monetary expansion and exchange rate movements in explaining price movements over the period since 1971. The demand for grains and oilseeds as biofuel feedstocks has been cited as the main cause of the price rise, but there is little direct evidence for this contention. Instead, index-based investment in agricultural futures markets is seen as the major channel through which macroeconomic and monetary factors generated the 2007–2008 food price rises.
722 citations
TL;DR: The authors show that if utility depends partly on how consumption compares to a "habit stock" determined by past consumption, an otherwise-standard growth model can imply that increases in growth can cause increased saving.
Abstract: Saving and growth are strongly positively correlated across countries. Recent empirical evidence suggests that this correlation holds largely because high growth leads to high saving, not the other way around. This evidence is difficult to reconcile with standard growth models, since forward-looking consumers with standard utility should save less in a fast-growing economy because they know they will be richer in the future than they are today. We show that if utility depends partly on how consumption compares to a ‘habit stock’ determined by past consumption, an otherwise-standard growth model can imply that increases in growth can cause increased saving
603 citations