Local multipliers at work
Augusto Cerqua () and
Guido Pellegrini ()
MPRA Paper from University Library of Munich, Germany
We measure the effects of a substantial place-based policy shock on the local labor market systems exploiting as an instrumental variable the peculiar information necessary to apply for capital subsidies in Italy during the period 1996-2006. The results show the presence of positive multipliers in the South of Italy, slightly lower than what was previously found for the US but much higher than those identified for European and Asian countries. The reasons for this finding lie in the greater accuracy of the data, in the relevance of the instrument used, and in the widespread underutilization of production factors.
Keywords: Local multiplier; place-based policy; local labor market. (search for similar items in EconPapers)
JEL-codes: F16 H25 J23 R23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eur, nep-geo, nep-lma and nep-ure
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Journal Article: Local multipliers at work (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:85326
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