The Crisis of Small Farms in Central Italy: Can Farmer Turnover Slow Down the Downfall?

We use original data to assess if the current incentives to farmer turnover may help the competitiveness of small farms in the Lazio Region (central Italy). Our results show that substantial changes in the policy may be needed. The paper analyzes sharp declining trend in small farm number, discusses its causes and evaluates the policies that have been adopted to stop or slow down this downfall. The regional policy makers consider the ageing of the farmers is a key determinant of the decline of small farms. Consequently, they have designed an incentive policy to generational turnover mainly based on installation payments. Given our empirical findings we conclude that this policy may fail to achieve the stated objectives. Firstly, farms that had a generational turnover in the last seven years do not show higher propensity to investment than the control group. These results suggest that farmers’ turnover per se may fail to increase the competitiveness of small farms. Secondly, in almost half of the cases the change in ownership is the result of a long process. Thus the timing of the policy may be wrong. Thirdly the policy is difficult to monitor and opportunistic behavior is possible.Generational turnover in Agriculture, Installation payments, Agricultural and Food Policy, Q10, Q18,

Incentives to Efficient Investment Decisions in Agricultural Cooperatives

Recent studies have questioned the competitiveness of agricultural cooperatives in an industrialized food system, based on empirical results and economic theory. New organizational institutions have been proposed to overcome the cooperative main weaknesses (the so called new generation cooperatives). In this paper, we provide a simple model based on a financial approach to address the issue of cooperative competitiveness and to assess the investment efficiency of both traditional and new generation cooperatives. The main conclusions of the analysis are: i) cooperatives (both traditional and new generation ones) may have incentive to adopt projects that do not maximize the Net Present Value of the firm ii) the institutions of new generation cooperatives are not sufficient to ensure net present value maximization, even though they address some of the main concerns of traditional cooperatives iii) traditional cooperatives may have a competitive advantage in businesses that require the aggregation of a large number of farmers.agricultural cooperatives, investment efficiency, Agribusiness, Agricultural Finance, Q13, Q14,

Object grasping and manipulation in capuchin monkeys (genera Cebus and Sapajus)

The abilities to perform skilled hand movements and to manipulate objects dexterously are landmarks in the evolution of primates. The study of how primates use their hands to grasp and manipulate objects in accordance with their needs sheds light on how these species are physically and mentally equipped to deal with the problems they encounter in their daily life. We report data on capuchin monkeys, highly manipulative platyrrhine species that usually spend a great deal of time in active manipulation to search for food and to prepare it for ingestion. Our aim is to provide an overview of current knowledge on the ability of capuchins to grasp and manipulate objects, with a special focus on how these species express their cognitive potential through manual behaviour. Data on the ability of capuchins to move their hands and on the neural correlates sustaining their actions are reported, as are findings on the manipulative ability of capuchins to anticipate future actions and to relate objects to other objects and substrates. The manual behaviour of capuchins is considered in different domains, such as motor planning, extractive foraging and tool use, in both captive and natural settings. Anatomofunctional and behavioural similarities to and differences from other haplorrhine species regarding manual dexterity are also discussed

Wage adjustment by Italian firms: any difference during the crisis? A survey-based analysis

The study analyses wage adjustment by Italian firms on the basis of information collected through a coordinated survey carried out in 17 European countries in two waves (at the beginning of 2008 and in the summer of 2009). The pre-crisis evidence indicates that the degree of wage rigidity is relatively high in Italy: wages remain unchanged on average for about two years, against an average of just over one year in the other countries. Italian firms hardly cut nominal wages, reflecting not only institutional constraints, but also an attempt to avoid a negative impact on their productivity. During the economic recession the firms most severely affected by the fall in demand reduced their costs mainly by adjusting the input of labour (in terms of both employment and hours worked). A higher incidence of skilled and white-collar workers was accompanied by greater recourse to strategies aimed at containing non-labour costs, presumably in order to preserve the human capital accumulated.survey, wage rigidity, economic recession

The pricing behaviour of Italian firms: new survey evidence on price stickiness

This study examines price setting behaviour of Italian firms on the basis of the results of a survey conducted by Banca d’Italia in early 2003 on a sample of around 350 firms belonging to all economic sectors. Prices are mostly fixed following standard mark-up rules, although customer-specific characteristics have a role, in particular in manufacturing and services where price discrimination across customers matters. Rival prices mostly affect price-setting strategies in industrial firms. In reviewing their prices, firms follow either statedependent rules or a combination of time and state-dependent ones. Concerning the frequency of price adjustments, a considerable degree of stickiness emerges both at the stage in which firms evaluate their pricing strategies and the stage in which they actually implement the price change. In 2002 most firms changed their price only once. Three alternative explanations of nominal rigidity are ranked highest by the firms interviewed: explicit contracts, tacit collusive behaviour and the perception of the temporary nature of the shock. Prices respond asymmetrically to shocks, depending on the direction of the adjustment (positive vs negative) and the source of the shock (demand vs supply). Real rigidities – captured by the degree of market competition, customers’ search costs, the sensitivity of profits to changes in demand – play an important role in determining this asymmetry. Moreover, whereas cost shocks impact more when prices have to be raised than when they have to be reduced, demand decreases are more likely to induce a price change than demand increases.nominal rigidity, real rigidity, price-setting, inflation persistence, survey data.

Prices of residential property in Italy: constructing a new indicator

We present a new indicator of house prices in Italy, with more extensive geographical and time coverage. The new indicator now makes it possible to analyze medium- and long-term trends with satisfactory representation of the Italian housing market. It also allows for timely updating, for prompt assessment of housing input both to the business cycle and to inflationary pressures. We offer a preliminary identification, based solely on graphical inspection, of four different property price cycles since the late 1960s; the latest began at the end of the 1990s and signaled a slowdown since 2006. Finally, we tentatively assess the effect of including transactions in dwellings in the Italian HICP basket according to the net acquisition approach, which apparently results in about a quarter point of additional inflation each year since 2000.business cycle, housing market, property prices, inflation measures

On Properties of Update Sequences Based on Causal Rejection

We consider an approach to update nonmonotonic knowledge bases represented as extended logic programs under answer set semantics. New information is incorporated into the current knowledge base subject to a causal rejection principle enforcing that, in case of conflicts, more recent rules are preferred and older rules are overridden. Such a rejection principle is also exploited in other approaches to update logic programs, e.g., in dynamic logic programming by Alferes et al. We give a thorough analysis of properties of our approach, to get a better understanding of the causal rejection principle. We review postulates for update and revision operators from the area of theory change and nonmonotonic reasoning, and some new properties are considered as well. We then consider refinements of our semantics which incorporate a notion of minimality of change. As well, we investigate the relationship to other approaches, showing that our approach is semantically equivalent to inheritance programs by Buccafurri et al. and that it coincides with certain classes of dynamic logic programs, for which we provide characterizations in terms of graph conditions. Therefore, most of our results about properties of causal rejection principle apply to these approaches as well. Finally, we deal with computational complexity of our approach, and outline how the update semantics and its refinements can be implemented on top of existing logic programming engines.Comment: 59 pages, 2 figures, 3 tables, to be published in "Theory and Practice of Logic Programming

Dalla legge al contratto: le pratiche spaziali della società civile e l’erosione dello Stato

Nel saggio l’evoluzione del concetto di spazio viene utilizzata per riflettere su alcune dinamiche dominanti della cultura occidentale tra XIX e XX secolo, le quali dall’ambito delle scienze fisico-matematiche si estendono alla politica, al diritto ed all’economia. In particolare i modi in cui lo spazio è percepito ed organizzato nell’agire sociale servono ad illustrare la crisi che investe gli odierni apparati istituzionali, culminando nell’impalpabile, informe e minacciosa nube della globalizzazione. Particolare attenzione viene dedicata al processo di disgregazione della sovranità territoriale degli Stati, accompagnato da una reviviscenza della lex mercatoria, che sembra capace di porre in discussione il tradizionale sistema delle fonti del diritto, con una sempre più frequente sostituzione del contratto alla legge