The effects of unification: markets, policy, and cyclical convergence in Italy, 1861–1913
This paper uses time-series evidence on construction movements to examine the convergence of regional business cycles in the decades that followed Italy’s unification. The aggregate series point to cyclical convergence, but a sector-level analysis traces this result to the decline in differentiated “regional-policy” shocks. The regional market cycles diverged, as regions specialized in different sectors of production; market-cycle convergence is observed only within the “industrial triangle,” the regions of which also developed different specializations. This suggests that the balance between growing interdependence and growing differentiation is not general, as the current literature presumes, but specialization-specific.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 4 (2010)
Issue (Month): 3 (October)
|Contact details of provider:|| Web page: http://www.cliometrie.org|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fenoaltea, Stefano, 2003. "Peeking Backward: Regional Aspects of Industrial Growth in Post-Unification Italy," The Journal of Economic History, Cambridge University Press, vol. 63(04), pages 1059-1102, December.
- Lawrence J. Christiano & Terry J. Fitzgerald, 2003.
"The Band Pass Filter,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(2), pages 435-465, 05.
- Lawrence J. Christiano & Terry J. Fitzgerald, 1999. "The Band pass filter," Working Paper 9906, Federal Reserve Bank of Cleveland.
- Tom Doan, . "CFFILTER: RATS procedure to perform band pass filter using Christiano-Fitzgerald method," Statistical Software Components RTS00034, Boston College Department of Economics.
- Lawrence J. Christiano & Terry J. Fitzgerald, 1999. "The Band Pass Filter," NBER Working Papers 7257, National Bureau of Economic Research, Inc.
- Conte, Leandro & Toniolo, Gianni & Vecchi, Giovanni, 2003.
"Monetary Union, Institutions and Financial Market Integration, Italy 1862-1905,"
CEPR Discussion Papers
3684, C.E.P.R. Discussion Papers.
- Toniolo, Gianni & Conte, Leandro & Vecchi, Giovanni, 2003. "Monetary Union, institutions and financial market integration: Italy, 1862-1905," Explorations in Economic History, Elsevier, vol. 40(4), pages 443-461, October.
- Gianni Toniolo & Leandro Conte & Giovanni Vecchi, 2003. "Monetary Union, Institutions and Financial Market Integration, Italy 1862-1905," CEIS Research Paper 16, Tor Vergata University, CEIS.
- Maravall, A. & del Rio, A., 2007.
"Temporal aggregation, systematic sampling, and the Hodrick-Prescott filter,"
Computational Statistics & Data Analysis,
Elsevier, vol. 52(2), pages 975-998, October.
- Agustín Maravall & Ana del Río, 2007. "Temporal aggregation, systematic sampling, and the Hodrick-Prescott filter," Banco de Espa�a Working Papers 0728, Banco de Espa�a.
- Ciccarelli, Carlo & Fenoaltea, Stefano, 2008.
"Construction in Italy's regions, 1861-1913,"
9714, University Library of Munich, Germany.
- Belke, Ansgar & Heine, Jens M., 2004.
"Specialisation Patterns and the Synchronicity of Regional Employment Cycles in Europe,"
IZA Discussion Papers
1439, Institute for the Study of Labor (IZA).
- Ansgar Belke & Jens Heine, 2006. "Specialisation patterns and the synchronicity of regional employment cycles in Europe," International Economics and Economic Policy, Springer, vol. 3(2), pages 91-104, November.
- Ansgar Belke & Jens Michael Heine, 2002. "Specialisation Patterns and the Synchronicity of Regional Employment Cycles in Europe," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 210/2002, Department of Economics, University of Hohenheim, Germany.
- Ansgar BELKE & Jens H. HEINE, . "Specialisation Patterns and the Synchronicity of Regional Employment Cycles in Europe," EcoMod2004 330600020, EcoMod.
- Athanasios Orphanides & Simon van Norden, 1999.
"The reliability of output gap estimates in real time,"
Finance and Economics Discussion Series
1999-38, Board of Governors of the Federal Reserve System (U.S.).
- Athanasios Orphanides & Simon van Norden, 2002. "The Unreliability of Output-Gap Estimates in Real Time," The Review of Economics and Statistics, MIT Press, vol. 84(4), pages 569-583, November.
- Athanasios Orphanides & Simon van Norden, 2001. "The Unreliability of Output Gap Estimates in Real Time," CIRANO Working Papers 2001s-57, CIRANO.
- Athanasios Orphanides & Simon van Norden, 1999. "The Reliability of Output Gap Estimates in Real Time," Macroeconomics 9907006, EconWPA.
- Athanasios Orphanides & Simon Van_Norden, 2000. "The Reliability of Output Gap Estimates in Real Time," Econometric Society World Congress 2000 Contributed Papers 0768, Econometric Society.
- Lourdes Acedo Montoya & Jakob de Haan, 2007.
"Regional Business Cycle Synchronization in Europe,"
Bruges European Economic Research Papers
11, European Economic Studies Department, College of Europe.
- Lourdes Montoya & Jakob Haan, 2008. "Regional business cycle synchronization in Europe?," International Economics and Economic Policy, Springer, vol. 5(1), pages 123-137, July.
- Ciccarelli, Carlo & Fenoaltea, Stefano, 2007. "Business fluctuations in Italy, 1861-1913: The new evidence," Explorations in Economic History, Elsevier, vol. 44(3), pages 432-451, July.
- Morten O. Ravn & Harald Uhlig, 2002. "On adjusting the Hodrick-Prescott filter for the frequency of observations," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 371-375.
- Durbin, James & Koopman, Siem Jan, 2001.
"Time Series Analysis by State Space Methods,"
Oxford University Press, number 9780198523543, March.
- Tom Doan, . "SEASONALDLM: RATS procedure to create the matrices for the seasonal component of a DLM," Statistical Software Components RTS00251, Boston College Department of Economics.
- Andrew Hughes Hallett & Christian Richter, 2008. "Have the Eurozone economies converged on a common European cycle?," International Economics and Economic Policy, Springer, vol. 5(1), pages 71-101, July.
- Federico, Giovanni, 2007. "Market integration and market efficiency: The case of 19th century Italy," Explorations in Economic History, Elsevier, vol. 44(2), pages 293-316, April.
When requesting a correction, please mention this item's handle: RePEc:afc:cliome:v:4:y:2010:i:3:p:269-292. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.