- Minerva G.A. (2022) The proximity-concentration trade-off with multiproduct multinational firms. Submitted.
Abstract: I study the proximity-concentration trade-off faced by two multiproduct multinational firms that operate in two
countries under horizontal product differentiation. In this context, characterized by two-way trade and FDI, the trade-off regulates
the number of domestic affiliates (concentration) against the number of foreign affiliates (proximity). I show how multinationals'
market shares and markups react to changes in trade and investment frictions, and in the degree of product substitutability.
Under plausible parameters restrictions, the model is consistent with the stylized fact that, in U.S. and Japan, the number
of foreign affiliates is inversely related to the market share held by multinationals in their domestic market.
Best Conferece Paper Award at the 9th FIW Research Conference,
University of Vienna.
- Manasse P., Minerva G.A., Patuelli R., Zirulia L. (2020) How to Lockdown an Economy: an Input Output Analysis
of the Italian Case. Department of Economics Working Paper N. 1152, University of Bologna.
Abstract: This paper employs the most recent Input Output tables to discuss the Italian lockdown after the COVID-19
epidemics. We define basic activities and derive a ranking of industries which more intensively contribute to
them. Confronting our results with the choices of the Italian government, we find that these were broadly correct
in terms of industrial composition. However, we find that the lockdown of industries such as construction, real
estate and manufacture of basic metals reveal a very conservative preferences in terms of the target share of output
of essential activities (below 85 %).
- Minerva G.A. (2017) Integration versus Outsourcing with Vertical Linkages. Development Studies Working Papers
N. 411, Centro Studi Luca d'Agliano.
Abstract: In the model by Grossman and Helpman (2002) no industry has both vertically integrated and specialized producers
in equilibrium. I generalize their model by assuming that final goods producers (irrespective of whether they are vertically integrated
with the upstream stage or specialized in the downstream stage only) need a basket of differentiated commodities, in addition to labor,
as a fixed requirement for production. I then show the existence of an equilibrium populated simultaneously by vertically integrated and