Libera Università Internazionale degli Studi Sociali Guido Carli

About: Libera Università Internazionale degli Studi Sociali Guido Carli is a education organization based out in Rome, Lazio, Italy. It is known for research contribution in the topics: Politics & Monetary policy. The organization has 692 authors who have published 2493 publications receiving 36411 citations. The organization is also known as: Libera Universita Internazionale degli Studi Sociali Guido Carli & Libera Università Internazionale degli Studi Sociali "Guido Carli".

Easy Come, Easy Go? Economic Performance and Satisfaction with Democracy in Southern Europe in the Last Three Decades

Abstract: In the literature on political support, much empirical effort has been devoted to the link between economic performance and satisfaction with democracy. Nevertheless, analyses are often inconclusive in their findings. This study tries to renew the interest in the topic by using multilevel models to analyse 108 surveys from the repeated cross-sectional Eurobarometer data between 1985 and 2013, and focuses on southern European countries which share political and economic characteristics. Thus, the article links economic trends to changes in satisfaction with democracy in Greece, Italy, Portugal and Spain, also emphasizing the relevance of transformations in their political systems. The results demonstrate that low economic performance seems to negatively affect citizens’ satisfaction with democracy in the four countries and across the whole period analysed. This also holds true for different model specifications and when other potential factors such as the format and the performance of the institutional context are controlled for. By providing empirical evidence based on a longitudinal analysis, this article contributes to the wider debate on how economic conditions influence opinions about democracy.

Identifying the Real Effects of Zombie Lending

Abstract: The policy response to COVID-19 includes the provision of credit guarantees to firms, a provision that may generate zombie lending According to the recent literature, the relative performance of healthy firms deteriorates as the fraction of zombies increases We argue that this literature faces a serious identification problem, because firm performance is often used to define zombies (sometimes implicitly) We show that, under general conditions for the distribution of firm performance, the correlation between healthy firm performance and zombies is a mechanical consequence of an increase in the fraction of zombies with no causal meaning

Drivers of peak sales for pharmaceutical brands

Abstract: Peak sales are an important metric in the pharmaceutical industry. Specifically, managers are focused on the height-of-peak-sales and the time required achieving peak sales. We analyze how order of entry and quality affect the level of peak sales and the time-to-peak-sales of pharmaceutical brands. We develop a growth model that includes these two variables as well as control variables for own and competitive marketing activities. We find that early entrants achieve peak sales later, and they have higher peak-sales levels. High-quality brands achieve peak sales earlier, and their peak-sales levels are higher. In addition, quality has a moderating effect on the order of entry effect on time-to-peak-sales. Our results indicate that late entrants have longer expected time-to-peak-sales when they introduce a brand with high quality.

Local risk minimization for defaultable markets

Abstract: We study the local risk minimization approach for defaultable markets in a general setting where the asset price dynamics and the default time may influence each other. We find the Follmer-Schweizer decomposition in this general setting and compute it explicitly in two particular cases, when default time depends on the risky asset's behavior and when only a dependence of discounted asset price on default time is occurring.