Financial and labor market imperfections and investment

Employment Protection Legislation, Capital Investment and Access to Credit: Evidence from Italy

“…4 Conversely, this finding is in contrast with studies on European countries (Calcagnini et al, 2009;Cingano et al, 2010) who tend to find a negative relationship between EPL and, respectively, investment and capital-labor ratios.…”

“…The assumption requires to interpret the effect of EPL on capital as causal is that any variable that affects capital is either continuous at the threshold (as in standard RDD) or its discontinuity is constant over time (as in standard DID). Another identification assumption is that capital in firms marginally below the 15 employees threshold (10-15) is expected to diverge from capital in firms just above the threshold (16)(17)(18)(19)(20) for no other reason than the law change, i.e. the capital trend in firms above 15 employees represents a good counterfactual for the capital trend in firms with 15 or fewer employees, a reasonable assumption in the neighborhood of the threshold.…”

Probabilistic interval analysis for structures with uncertainty

“…Probabilistic, fuzzy and interval theories and methods have also been extensively developed to solve problems involving uncertainty. Over the past several decades, uncertain modeling and uncertain analysis have been receiving considerable attention in many areas such as mathematics [1][2][3][4]10,[20][21][22][23], physics [5,6,[24][25][26][27][28][29][30][31], social sciences [32][33][34][35][36], engineering [12][13][14][15][16][17][18][37][38][39][40][41][42], etc. Generally speaking, random and interval variables are more suitable for most engineering problems as subjective information is involved in a fuzzy variable and hence in fuzzy analysis.…”

Labour Market Institutions and Unemployment: Does Finance Matter?

“…Using annual firm-level data for 10 European countries over the period 1994-2000, Calcagnini, Giombini & Saltari (2009 investigate how interactions between financial and labour market factors affect investment. Using the system Generalized Method of Moments (GMM) to estimate a dynamic panel-data model, in which the investment ratio is explained by the level of firm liquidity, the intensity of labour market regulation as well as a term that captures interactions between both variables.…”