Of Intellectual Property, Open Source and Innovation: Trends, and Some Opportunities for Italy

This paper offers some reflections on the institutions for the governance of knowledge as an economic asset, and its management in firms. It then relies on a research based on a survey of a large number of patents (PatVal-EU) to discuss specific features of the invention system in Italy. The paper ends by suggesting that Italy is an interesting position to launch new policies that balance intellectual property rights and open source. It also flags the possibility of an Inventor Compensation Act like in Germany, which can motivate employees to launch new ideas and raise the Italian innovation rate.open source, patents, intellectual property rights, innovation.

An Equilibrium Model of Lumpy Housing Investment

We formulate and solve a dynamic general equilibrium model with heterogeneous agents and lumpy housing adjustment at the household level. We use the model to ask a simple question: how does the microeconomic lumpiness of housing adjustment affect the equilibrium dynamic properties of aggregate consumption and investment? Our main conclusion is that lumpiness matters: in particular, lumpiness in housing adjustment (1) reduces the volatility of both housing and business investment; (2) increases the volatility of aggregate consumption; (3) increases the correlation of housing investment with business investment and with GDP. We also show that lumpiness of investment activity at the household level has small but significant aggregate implications, in contrast with the literature that shows that the aggregate effects of lumpy investment at the firm level are negligible.

You Cannot Fix What You Cannot Find! An Investigation of Fault Localization Bias in Benchmarking Automated Program Repair Systems

Properly benchmarking Automated Program Repair (APR) systems should contribute to the development and adoption of the research outputs by practitioners. To that end, the research community must ensure that it reaches significant milestones by reliably comparing state-of-the-art tools for a better understanding of their strengths and weaknesses. In this work, we identify and investigate a practical bias caused by the fault localization (FL) step in a repair pipeline. We propose to highlight the different fault localization configurations used in the literature, and their impact on APR systems when applied to the Defects4J benchmark. Then, we explore the performance variations that can be achieved by `tweaking' the FL step. Eventually, we expect to create a new momentum for (1) full disclosure of APR experimental procedures with respect to FL, (2) realistic expectations of repairing bugs in Defects4J, as well as (3) reliable performance comparison among the state-of-the-art APR systems, and against the baseline performance results of our thoroughly assessed kPAR repair tool. Our main findings include: (a) only a subset of Defects4J bugs can be currently localized by commonly-used FL techniques; (b) current practice of comparing state-of-the-art APR systems (i.e., counting the number of fixed bugs) is potentially misleading due to the bias of FL configurations; and (c) APR authors do not properly qualify their performance achievement with respect to the different tuning parameters implemented in APR systems.Comment: Accepted by ICST 201

Equilibrium Wage Dispersion: Monopsony or Sorting?

Why are similar workers paid differently? I review and compare two lines of research that have recently witnessed great progress in addressing “unexplained” wage inequality: (i) worker unobserved heterogeneity in, and sorting by, human capital; (ii) firms’ monopsony power in labor markets characterized by job search frictions. Both lines share a view of wage differentials as an equilibrium phenomenon. Despite their profound conceptual and technical differences, they remain natural competitors in this investigation. Unlike other hypotheses, they provide natural and unifying explanations for job and worker flows, unemployment duration and incidence, job-to-job quits, and the shape of the wage distribution.

Measuring and Explaining Management Practices in Italy

We use an innovative survey tool to collect management practice data from more than 900 medium sized manufacturing firms across Europe and the US. Our measures of managerial practices are strongly associated with several measures of firm level performance. Management practices display significant crosscountry and within-country differences, with US firms on average better managed than European firms. Italian firms show a significant managerial gap vis-à-vis the US, particularly among Italian companies that are owned and run by families. We document a positive association between product market competition and the overall level of skills within the firm. Product market competition and family-owned, family-run firms account for 60% of the American managerial advantage over Italians.management practices, productivity, competition, family firms, Italy