Matteo Deleidi
Dados Biográficos
| ID | 4635381 |
|---|---|
| NOME | Matteo Deleidi |
| PRENOMES | Matteo |
| SOBRENOME | Deleidi |
| ASSINATURA | DELEIDI M |
| AFILIAÇÕES | University College London |
| ORCID | 0000-0001-6371-5255 |
| VERIFICADO | Sim |
| TOTAL DE OBRAS | 14 |
| TOTAL DE CITAÇÕES | 28 |
| TOTAL COMO AUTOR | 14 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 2019 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 3 |
Introduction to the Special Issue on the 20th STOREP Conference: Rethinking Economic Policies: The Role of the State in the Post-Covid-19
Introduction to the Special Issue on the 20th STOREP Conference: Rethinking Economic Policies: The Role of the State in the Post-Covid-19
Turning the tide: How public R&D investment shapes European regional development
This paper evaluates the impact of Mission-Oriented Innovation Policies and public R&D investment on regional economic development in Europe by quantifying the responses of GDP, employment and private R&D across 243 NUTS-2 regions from 1980 to 2019. Using linear and non-linear Local Projections methods, we find that public R&D investment generates the largest multiplicative effect and produces a greater impact in lagging regions than in leading o…
Stagnation despite ongoing innovation: Is R&D expenditure composition a missing link? An empirical analysis for the US (1948–2019)
Among the explanations for prolonged economic stagnation in advanced economies, we find those that highlight the role of technical progress and its weakening impact on potential growth. Several contributions stress the apparent paradox of technological development and innovation going hand in hand with slowing labour productivity growth. This issue is in turn linked to numerous factors, among which the pattern of research productivity that appear…
Government spending, multipliers, and public debt sustainability: An empirical assessment for OECD countries
This paper aims to quantify the linear and non-linear effects of government expenditure on output and public debt sustainability using the Local Projections (LP) approach on a dataset of 14 OECD countries considered for the 1981–2017 period. By employing the Blanchard and Perotti strategy to identify fiscal policy shocks, we show that government spending multipliers are close to one in linear models and that expansionary fiscal policy stimuli red…
Back to Maastricht: Public Debt Sustainability and the Fiscal Multipliers
This essay contributes to the debate on the relevance of fiscal multipliers in the design of economic policies. The need for a different methodological perspective emerges from the results produced in the Eurozone by various fiscal consolidation programs, which, after being implemented following the sovereign debt crisis of 2011 and then suspended to address the COVID-19 crisis, are now being reintroduced according to the balanced budget rules se…
Autonomous demand and technical change: Exploring the Kaldor–Verdoorn law on a global level
This paper aims to explain labour productivity through the lens of a Kaldorian perspective. To assess the relationship between output, demand, capital accumulation, and labour productivity, we apply Panel Structural Vector Autoregressive (P-SVAR) modelling to a dataset of 52 countries observed over a long-time span as provided by the Penn World Table. Findings validate the Kaldorian perspective and show that demand shocks-measured by government e…
Economy-Finance-Environment-Society Interconnections In a Stock-Flow Consistent Dynamic Model
This work takes inspiration from four theoretical strands: recent developments in ecological macroeconomics; the Schumpeterian framework of evolutionary economics that emphasises the entrepreneurial role of the State; the stock-flow consistent approach to macroeconomic modelling; and the supermultiplier model. Building upon these approaches, we develop a formal model that reproduces key interactions between the economy, the financial sector, the …
Activity Levels and the Flexibility of the Degree of Capacity Utilisation in the US
In recent years, a revival of the so-called ‘utilisation controversy’ has seen several scholars engage in a lively debate that still revolves around the same old question: what should we expect, beyond the short run, with regard to the degree of capacity utilisation? In this article, we tackle this issue by investigating the relationship between the level of economic activity and the ensuing utilisation of existing capacity. In order to assess th…
Quantifying fiscal multipliers in Italy: A Panel SVAR analysis using regional data
Output, investment and productivity: The Italian North–South regional divide from a Kaldor–Verdoorn approach
This paper elaborates on the Italian North–South divide by endorsing a Kaldor–Verdoorn perspective. To assess the endogenous relationship between labour productivity, capital accumulation and output growth, panel structural vector autoregressive (P-SVAR) modelling is applied to 1980–2017 data on Italian macro-regions and areas. Findings show that territorial disparities exist in both the Verdoorn and the capital accumulation effects throughout th…
Kaldor 3.0: An Empirical Investigation of the Verdoorn-augmented Technical Progress Function
Consistent with neoclassical theory, the recent slowdown in labour productivity is generally regarded as one of the main causes of the current phase of economic stagnation. By contrast, post-Keynesian economics looks at productivity growth as positively affected by the rate of growth of output in the long run as well. By focusing on this alternative perspective, in our exploration we deal with an extended version of the Kaldorian technical progre…
The Price Puzzle and the Hysteresis Hypothesis: SVEC Analysis for the US Economy
This paper shows that monetary policy tightening may lead to an increase in the level of prices. To demonstrate this, we apply SVEC modelling to US monthly data for the 1959–2018 period and endorse the ‘hysteresis hypothesis’ which assumes that monetary policy produces long-lasting effects on unemployment and prices. Contrary to what has been argued by Hanson (2004. ‘The “Price Puzzle” Reconsidered.’ Journal of Monetary Economics 51 (7): 1385–141…
Money Creation in the Eurozone: An Empirical Assessment of the Endogenous and the Exogenous Money Theories
The aim of this paper is to strengthen our understanding of the money creation process in the Eurozone for 1999–2016 period, through an empirical assessment of two main monetary theories, namely the (Post Keynesian) endogenous money theory and the (Monetarist) exogenous money theory. By applying a VAR and VECM methodology, we analyse the causal relationship among monetary reserves (or monetary base), bank deposits and bank loans. Our empirical an…
Putting Austerity to Bed: Technical Progress, Aggregate Demand and the Supermultiplier
The paper investigates the determinants of private investment and economic growth from a theoretical perspective. We start with a critical analysis of the crowding-out effect and we present a new version of the Sraffian Supermultiplier: a model that accounts for both the multiplier and accelerator effects. We focus on different types of fiscal policies: generic ones and ‘mission-oriented’ ones that set a new direction for the economy. We show tha…
Putting Austerity to Bed: Technical Progress, Aggregate Demand and the Supermultiplier
The paper investigates the determinants of private investment and economic growth from a theoretical perspective. We start with a critical analysis of the crowding-out effect and we present a new version of the Sraffian Supermultiplier: a model that accounts for both the multiplier and accelerator effects. We focus on different types of fiscal policies: generic ones and ‘mission-oriented’ ones that set a new direction for the economy. We show tha…
Kaldor 3.0: An Empirical Investigation of the Verdoorn-augmented Technical Progress Function
Consistent with neoclassical theory, the recent slowdown in labour productivity is generally regarded as one of the main causes of the current phase of economic stagnation. By contrast, post-Keynesian economics looks at productivity growth as positively affected by the rate of growth of output in the long run as well. By focusing on this alternative perspective, in our exploration we deal with an extended version of the Kaldorian technical progre…
Output, investment and productivity: The Italian North–South regional divide from a Kaldor–Verdoorn approach
This paper elaborates on the Italian North–South divide by endorsing a Kaldor–Verdoorn perspective. To assess the endogenous relationship between labour productivity, capital accumulation and output growth, panel structural vector autoregressive (P-SVAR) modelling is applied to 1980–2017 data on Italian macro-regions and areas. Findings show that territorial disparities exist in both the Verdoorn and the capital accumulation effects throughout th…
Activity Levels and the Flexibility of the Degree of Capacity Utilisation in the US
In recent years, a revival of the so-called ‘utilisation controversy’ has seen several scholars engage in a lively debate that still revolves around the same old question: what should we expect, beyond the short run, with regard to the degree of capacity utilisation? In this article, we tackle this issue by investigating the relationship between the level of economic activity and the ensuing utilisation of existing capacity. In order to assess th…
Quantifying fiscal multipliers in Italy: A Panel SVAR analysis using regional data
Turning the tide: How public R&D investment shapes European regional development
This paper evaluates the impact of Mission-Oriented Innovation Policies and public R&D investment on regional economic development in Europe by quantifying the responses of GDP, employment and private R&D across 243 NUTS-2 regions from 1980 to 2019. Using linear and non-linear Local Projections methods, we find that public R&D investment generates the largest multiplicative effect and produces a greater impact in lagging regions than in leading o…
Economy-Finance-Environment-Society Interconnections In a Stock-Flow Consistent Dynamic Model
This work takes inspiration from four theoretical strands: recent developments in ecological macroeconomics; the Schumpeterian framework of evolutionary economics that emphasises the entrepreneurial role of the State; the stock-flow consistent approach to macroeconomic modelling; and the supermultiplier model. Building upon these approaches, we develop a formal model that reproduces key interactions between the economy, the financial sector, the …
The Price Puzzle and the Hysteresis Hypothesis: SVEC Analysis for the US Economy
This paper shows that monetary policy tightening may lead to an increase in the level of prices. To demonstrate this, we apply SVEC modelling to US monthly data for the 1959–2018 period and endorse the ‘hysteresis hypothesis’ which assumes that monetary policy produces long-lasting effects on unemployment and prices. Contrary to what has been argued by Hanson (2004. ‘The “Price Puzzle” Reconsidered.’ Journal of Monetary Economics 51 (7): 1385–141…
Money Creation in the Eurozone: An Empirical Assessment of the Endogenous and the Exogenous Money Theories
The aim of this paper is to strengthen our understanding of the money creation process in the Eurozone for 1999–2016 period, through an empirical assessment of two main monetary theories, namely the (Post Keynesian) endogenous money theory and the (Monetarist) exogenous money theory. By applying a VAR and VECM methodology, we analyse the causal relationship among monetary reserves (or monetary base), bank deposits and bank loans. Our empirical an…
Money Creation in the Eurozone: An Empirical Assessment of the Endogenous and the Exogenous Money Theories
The aim of this paper is to strengthen our understanding of the money creation process in the Eurozone for 1999–2016 period, through an empirical assessment of two main monetary theories, namely the (Post Keynesian) endogenous money theory and the (Monetarist) exogenous money theory. By applying a VAR and VECM methodology, we analyse the causal relationship among monetary reserves (or monetary base), bank deposits and bank loans. Our empirical an…
Putting Austerity to Bed: Technical Progress, Aggregate Demand and the Supermultiplier
The paper investigates the determinants of private investment and economic growth from a theoretical perspective. We start with a critical analysis of the crowding-out effect and we present a new version of the Sraffian Supermultiplier: a model that accounts for both the multiplier and accelerator effects. We focus on different types of fiscal policies: generic ones and ‘mission-oriented’ ones that set a new direction for the economy. We show tha…
Kaldor 3.0: An Empirical Investigation of the Verdoorn-augmented Technical Progress Function
Consistent with neoclassical theory, the recent slowdown in labour productivity is generally regarded as one of the main causes of the current phase of economic stagnation. By contrast, post-Keynesian economics looks at productivity growth as positively affected by the rate of growth of output in the long run as well. By focusing on this alternative perspective, in our exploration we deal with an extended version of the Kaldorian technical progre…
The Price Puzzle and the Hysteresis Hypothesis: SVEC Analysis for the US Economy
This paper shows that monetary policy tightening may lead to an increase in the level of prices. To demonstrate this, we apply SVEC modelling to US monthly data for the 1959–2018 period and endorse the ‘hysteresis hypothesis’ which assumes that monetary policy produces long-lasting effects on unemployment and prices. Contrary to what has been argued by Hanson (2004. ‘The “Price Puzzle” Reconsidered.’ Journal of Monetary Economics 51 (7): 1385–141…
Quantifying fiscal multipliers in Italy: A Panel SVAR analysis using regional data
Output, investment and productivity: The Italian North–South regional divide from a Kaldor–Verdoorn approach
This paper elaborates on the Italian North–South divide by endorsing a Kaldor–Verdoorn perspective. To assess the endogenous relationship between labour productivity, capital accumulation and output growth, panel structural vector autoregressive (P-SVAR) modelling is applied to 1980–2017 data on Italian macro-regions and areas. Findings show that territorial disparities exist in both the Verdoorn and the capital accumulation effects throughout th…
Activity Levels and the Flexibility of the Degree of Capacity Utilisation in the US
In recent years, a revival of the so-called ‘utilisation controversy’ has seen several scholars engage in a lively debate that still revolves around the same old question: what should we expect, beyond the short run, with regard to the degree of capacity utilisation? In this article, we tackle this issue by investigating the relationship between the level of economic activity and the ensuing utilisation of existing capacity. In order to assess th…
Autonomous demand and technical change: Exploring the Kaldor–Verdoorn law on a global level
This paper aims to explain labour productivity through the lens of a Kaldorian perspective. To assess the relationship between output, demand, capital accumulation, and labour productivity, we apply Panel Structural Vector Autoregressive (P-SVAR) modelling to a dataset of 52 countries observed over a long-time span as provided by the Penn World Table. Findings validate the Kaldorian perspective and show that demand shocks-measured by government e…
Economy-Finance-Environment-Society Interconnections In a Stock-Flow Consistent Dynamic Model
This work takes inspiration from four theoretical strands: recent developments in ecological macroeconomics; the Schumpeterian framework of evolutionary economics that emphasises the entrepreneurial role of the State; the stock-flow consistent approach to macroeconomic modelling; and the supermultiplier model. Building upon these approaches, we develop a formal model that reproduces key interactions between the economy, the financial sector, the …
Stagnation despite ongoing innovation: Is R&D expenditure composition a missing link? An empirical analysis for the US (1948–2019)
Among the explanations for prolonged economic stagnation in advanced economies, we find those that highlight the role of technical progress and its weakening impact on potential growth. Several contributions stress the apparent paradox of technological development and innovation going hand in hand with slowing labour productivity growth. This issue is in turn linked to numerous factors, among which the pattern of research productivity that appear…
Government spending, multipliers, and public debt sustainability: An empirical assessment for OECD countries
This paper aims to quantify the linear and non-linear effects of government expenditure on output and public debt sustainability using the Local Projections (LP) approach on a dataset of 14 OECD countries considered for the 1981–2017 period. By employing the Blanchard and Perotti strategy to identify fiscal policy shocks, we show that government spending multipliers are close to one in linear models and that expansionary fiscal policy stimuli red…
Back to Maastricht: Public Debt Sustainability and the Fiscal Multipliers
This essay contributes to the debate on the relevance of fiscal multipliers in the design of economic policies. The need for a different methodological perspective emerges from the results produced in the Eurozone by various fiscal consolidation programs, which, after being implemented following the sovereign debt crisis of 2011 and then suspended to address the COVID-19 crisis, are now being reintroduced according to the balanced budget rules se…
Introduction to the Special Issue on the 20th STOREP Conference: Rethinking Economic Policies: The Role of the State in the Post-Covid-19
Introduction to the Special Issue on the 20th STOREP Conference: Rethinking Economic Policies: The Role of the State in the Post-Covid-19
Turning the tide: How public R&D investment shapes European regional development
This paper evaluates the impact of Mission-Oriented Innovation Policies and public R&D investment on regional economic development in Europe by quantifying the responses of GDP, employment and private R&D across 243 NUTS-2 regions from 1980 to 2019. Using linear and non-linear Local Projections methods, we find that public R&D investment generates the largest multiplicative effect and produces a greater impact in lagging regions than in leading o…
Economics (14 obras) · Macroeconomics (13 obras) · Economic Theory and Policy (7 obras) · Fiscal Policy and Economic Growth (6 obras) · Economic Growth and Productivity (5 obras) · Economic theories and models (5 obras) · Productivity (5 obras) · Econometrics (4 obras) · Keynesian economics (4 obras) · Monetary Policy and Economic Impact (4 obras)