Ricerc@Sapienza

For some heterodox economics schools values are different from prices, while others regard such
distinction as metaphysical. This difference of approach is related to different opinions on what
function(s) the price system takes on in a capitalist economy. By discussing these different functions
(allocative, distributive, and informative), this chapter shows that price and value theory
holds analytical centrality in all economic paradigms, both heterodox and mainstream, to the
point of defining contemporary heterodox (and thus orthodox) economics.

This work explores the relationship between temporary employment and product innovation focusing on five major European economies (France, Germany, Italy, Spain and the Netherlands) observed between 1998 and 2012. The analysis distinguishes sectors according to their technological characteristics and regimes finding that industries using temporary employment tend to have a weaker product innovation propensity.

Based on the assumption that the set of skills characterizing different fields of study do not match the new technologies in the same way, we focus on the evolution of wage gaps between university graduates in STEM disciplines and other subjects. An Oaxaca decomposition technique is applied to early wages of Italian graduates after taking into account both the selection into employment and the endogeneity of major’s choice.

tThis paper assesses the employment impact of offshoring in five European countries (Germany, Spain,France, Italy and the United Kingdom), distinguishing between different types of inputs/tasks offshored,different types of offshoring industries and types of professional groups. The empirical evidence showsthat offshoring activities are mainly driven by a cost reduction (labour saving) rationale.