Exchange Rate Regimes, Location, and Specialization

This paper investigates the effects of fixed versus flexible exchange rates on firms' location choices and on countries' specialization patterns. In a two-country, twodifferentiated-goods monetary model, uncertainty arises after wages are set and prices are optimally chosen. The paper shows that countries are more specialized under flexible than fixed rates, which indicates that the pattern of specialization is not uniquely defined by trade models but also depends on the exchange rate regime. The creation of a currency area endogenously increases the desirability of such an area by reducing the asymmetry of shocks across member countries. The results also shed light on the effects of exchange rate variability on trade. Copyright 2006, International Monetary Fund

The Tetragonal to Orthorhombic structural phase transition in multiband FeAs-based superconductors

We report the temperature dependent x-ray powder diffraction of the FeAs-based superconductors in the range between 300 K and 95 K. In the case of NdOFeAs we have detected the structural phase transition from the tetragonal phase, with P4/nmm space group, to the orthorhombic phase,with Cmma space group, over a broad temperature range from 150 K to 120 K, centered at T0 137K. This transition is reduced, by about 30K, by the internal chemical pressure going from LaOFeAs to NdOFeAs. On the contrary the superconducting critical temperature increases from 27K to 51 K going from LaOFeAs to NdOFeAs doped samples. The FeAs layers in all undoped 1111 and 122 systems suffer a tensile misfit strain. The tensile misfit strain is reduced in 1111 and in 122 samples and at optimum doping the misfit strain is close to zero. This result shows that the normal striped orthorhombic Cmma phase competes with the superconducting tetragonal phase. In the orthorhombic clusters the charges can move only along the stripes in the b direction and are localized by the magnetic interaction.Comment: 9 pages and 2 figures. accepted by Journal of Superconductivity and novel magnetis

Productivity, networks, and export performance: evidence from a cross-country fi rm dataset

This paper uses a newly assembled multi-country multi-industry fi…rm-level dataset to test the effect of productivity and networking on the export probability of …firms. Results are in line with the new-new trade theory and with the literature on the information value of networks. Firms are more likely to export if they are more productive, larger, and if they bene…fit from foreign networks (ownership and …financial linkages), domestic networks (chamber of commerce, links to regulation), and communication networks (E-mail, internet). Firms bear a lower probability of exporting if they have state or labor networks. Overall, …firms with better network connections by one standard deviation enjoy a 15% higher probability of exporting.new-new trade theory; export probability

Suoni e memoria. Sn'etnografia complessa

L’esperienza di vita di Luigi Nigro - pastore-artigiano-suonatore calabrese di Rossano (CS) - è ripresa con la videocamera nel corso di una lunga ricerca etnografica avviata nel 2005. Narrato e rappresentato come una storia di formazione, il racconto dischiude scenari sulla cultura dell’oralità, sulla costruzione dell’identità personale, sulla poetica della memoria, sull’estetica dei suoni

Unemployment and productivity in the long run: The role of macroeconomic volatility

We propose a theory of low-frequency movements in unemployment based on asymmetric real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise in the variance of productivity growth. Evidence based on U.S. time series and on an international panel strongly supports these predictions. The empirical specifications featuring the variance of productivity growth can account for two U.S. episodes which a linear model based only on long-run productivity growth cannot fully explain. These are the decline in long-run unemployment over the 1980s and its rise during the late 2000s.unemployment, productivity growth, volatility

Unemployment and productivity in long-run: the role of macroeconomic volatility

We propose a theory of low-frequency movements in unemployment based on downward real wage rigidities. The theory generates two main predictions: long-run unemployment increases with (i) a fall in long-run productivity growth and (ii) a rise in the variance of productivity growth. Evidence based on U.S. time series and on an international panel strongly supports these predictions. The empirical specifications featuring the variance of productivity growth can account for two U.S. episodes which a linear model based only on long-run productivity growth cannot fully explain. These are the decline in long-run unemployment over the 1980s and its rise during the late 2000s.Unemployment, Productivity growth, Volatility

Exchange rate regimes and location

This paper investigates the effects of fixed versus flexible exchange rate regimes on location choices of firms and on the degree of specialization of countries. In a two-country two-differentiated-good monetary model, demand, supply, and monetary shocks arise after wages are set and prices are optimally chosen. The exchange rate performs then an adjustment role for firms located in the country relatively specialized in the good they produce, but it constitutes a factor of disturbance for the others. As firms choose ex-ante the location that offers the higher expected profits for their industry, we find that countries are more specialized under flexible exchange rates than under fixed rates. One important implication is that the adoption of a fixed exchange rate regime increases the desirability of such a currency area, as it induces sectoral dispersion of production and consequently reduces the degree of asymmetry of shocks

Once Again, is Openness Good for Growth?

Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to address this issue, this paper applies the identification through heteroskedasticity methodology to estimate the effect of openness on growth while properly controlling for the effect of growth on openness. The results suggest that openness would have a positive effect on growth, although small. This result stands, despite the equally robust effect from growth to openness.

The Microstrain-Doping Phase Diagram of the Iron Pnictides Heterostructures at Atomic Limit

The 3D phase diagram of iron pnictides where the critical temperature depends on charge density and microstrain in the active FeAs layers is proposed. The iron pnictides superconductors are shown to be a practical realization of a heterostructure at the atomic limit made of a superlattice of FeAs layers intercalated by spacer layers. We have focussed our interest on the A 1-x BxFe2As2 (122) families and we show that FeAs layers have a tensile microstrain due to the misfit strain between the active layers and the spacers. We have identified the critical range of doping and microstrain where the critical temperature gets amplified to its maximum value.Comment: 5 pages, 3 figure

Hearing loss, tinnitus, hyperacusis, and diplacusis in professional musicians: a systematic review

Professional musicians (PMs) are at high risk of developing hearing loss (HL) and other audiological symptoms such as tinnitus, hyperacusis, and diplacusis. The aim of this systematic review is to (A) assess the risk of developing HL and audiological symptoms in PMs and (B) evaluate if different music genres (Pop/Rock Music-PR; Classical Music-CL) expose PMs to different levels of risk of developing such conditions. Forty-one articles including 4618 PMs were included in the study. HL was found in 38.6% PMs; prevalence was significantly higher among PR (63.5%) than CL (32.8%) PMs; HL mainly affected the high frequencies in the 3000-6000 Hz range and was symmetric in 68% PR PMs and in 44.5% CL PMs. Tinnitus was the most common audiological symptom, followed by hyperacusis and diplacusis. Tinnitus was almost equally distributed between PR and CL PMs; diplacusis was more common in CL than in PR PMs, while prevalence of hyperacusis was higher among PR PMs. Our review showed that PR musicians have a higher risk of developing HL compared to CL PMs; exposure to sounds of high frequency and intensity and absence of ear protection may justify these results. Difference in HL symmetry could be explained by the type of instruments used and consequent single-sided exposure