Francesco Lamperti, Giovanni Dosi, Mauro Napoletano, Andrea Roventini and Alessandro Sapio

Author Archive | Francesco Lamperti, Giovanni Dosi, Mauro Napoletano, Andrea Roventini and Alessandro Sapio

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Faraway, so Close: Coupled Climate and Economic Dynamics in an Agent-Based Integrated Assessment Model

In this paper we develop the first agent-based integrated assessment model, which offers an alternative to standard, computable general-equilibrium frameworks. The Dystopian Schumpeter meeting Keynes (DSK) model is composed of heterogeneous firms belonging to capital-good, consumption-good and energy sectors. Production and energy generation lead to greenhouse gas emissions, which affect temperature dynamics in a non-linear […]

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working_paper_2017_11_cover

How do financial markets adapt? An institutional comparison between European and Japanese Junior stock markets

Since the last decade, new Junior stock markets or second-tier stock markets have emerged in various countries, often influenced by the Alternative Investment Market, created by the London Stock Echange in 1995, and considered by numerous economic and political actors as a reference. Junior Markets are characterised by simplified listing processes and customised information standards. […]

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working_paper_2017_10_cover

Firm Growth and Stock Market Regulation in Different Financial Systems

This article aims at testing whether firm growth processes differ across countries characterized by different financial systems and varieties of capitalism, as well as across stock market segments with different listing requirements and information standards. We estimate Gibrat regressions of firm growth through dynamic panel methods on datasets of manufacturing firms listed on the stock […]

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working_paper_2016_33A_cover

Gazelles and muppets in the City: Stock market listing, risk sharing, and firm growth quantiles

Financialization is persuading academics and policy-makers that the growth of SMEs can be unleashed by promoting their quotation on stock markets. Is that true? Answering this can give clues on the functions that stock markets actually perform in the financialized world. The market may allow collecting finance for productive investments, or mainly provide firms with […]

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working_paper_2016_31_cover

The Creation Function of a Junior Listing Venue: An Empirical Test on the Alternative Investment Market

Stock markets perform a creation function if the inflow of financial capital in the birth of new privately-held firms is stimulated by the promise of stock market liquidity at a later point in time. Junior stock market segments, characterized by lighter listing procedures and costs, may be suited to perform a creation function, but their […]

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working_paper_2016_25_cover

Complexity and the Economics of Climate Change: a Survey and a Look Forward

We provide a survey of the micro and macro economics of climate change from a complexity science perspective and we discuss the challenges ahead for this line of research. We identify four areas of the literature where complex system models have already produced valuable insights: (i) coalition formation and climate negotiations, (ii) macroeconomic impacts of […]

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Financial Regimes, Financialization Patterns and Industrial Performances: Preliminary Remarks

The evolutionary taxonomy of financial systems, outlined by Dosi (1990), argued that market-based systems would be comparatively more engaged in the exploration of new technological paradigms, as an outcome of market selective pressure, whereas the more institutionalized finance allocation in credit-based systems would give them an advantage in cumulative learning. This article offers a preliminary […]

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