Output potenziale, gap e inflazione in Italia nel lungo periodo (1861-2010): un’analisi econometrica (Potential Output, Output Gap, and Inflation in Italy in the Long Term (1861-2010): An Econometric Analysis)

The purpose of the Economic History Working Papers (Quaderni di Storia economica) is to promote the circulation of preliminary versions of working papers on growth, finance, money, institutions prepared within the Bank of Italy or presented at Bank seminars by external speakers with the aim of stimulating comments and suggestions. The present series substitutes the Historical Research papers -Quaderni dell'Ufficio Ricerche Storiche. The views expressed in the articles are those of the authors and do not involve the responsibility of the Bank.

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Is There a Long-Term Effect of Africa's Slave Trades?

Bottero

Wallace

2013

SSRN Journal

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The Demand for Tobacco in Post-Unification Italy

Ciccarelli

Fraja

2014

SSRN Journal

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This paper studies the demand for tobacco products in post-unification Italy. We construct a very detailed panel dataset of yearly consumption in the 69 Italian provinces from 1871 to 1913, and use it to estimate the demand for tobacco products. We find support for the Becker and Murphy (1988) rational addiction model. The empirical analysis further suggests that, in the period considered, tobacco was a normal good in Italy: its consumption increased with income. Subsequently, we consider separately the components of aggregate tobacco (fine-cut tobacco, snuff, cigars, and cigarettes), and tentatively suggest that habit formation was a stronger factor on the persistence of consumption than physical addiction. The paper ends by showing that the introduction of the Bonsack machine in the early 1890s did not coincide with changes in the structure of the demand for tobacco, suggesting cost driven technological change. Abstract This paper studies the demand for tobacco products in post-unification Italy. We construct a very detailed panel dataset of yearly consumption in the 69 Italian provinces from 1871 to 1913, and use it to estimate the demand for tobacco products. We find support for the Becker and Murphy (1988) rational addiction model. We also find that, in the period considered, tobacco was a normal good in Italy: aggregate tobacco consumption increased with income. Subsequently, we consider separately the four types of products which aggregate tobacco comprises (fine-cut tobacco, snuff, cigars, and cigarettes), and tentatively suggest that habit formation was a stronger factor on the persistence of consumption than physical addiction. The paper ends by showing that the introduction of the Bonsack machine in the early 1890s did not coincide with changes in the structure of the demand for tobacco, suggesting cost driven technological change.JEL Numbers: D11, N33, I18

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Civic Capital and Development: Italy, 1951-2001

Albanese

Blasio

2014

SSRN Journal

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Output potenziale, gap e inflazione in Italia nel lungo periodo (1861-2010): un’analisi econometrica (Potential Output, Output Gap, and Inflation in Italy in the Long Term (1861-2010): An Econometric Analysis)

Cited by 14 publications

References 81 publications

Is There a Long-Term Effect of Africa's Slave Trades?

Is There a Long-Term Effect of Africa's Slave Trades?

The Demand for Tobacco in Post-Unification Italy

Civic Capital and Development: Italy, 1951-2001

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