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The impact of Big Tech in three moves

The impact of Big Tech in three moves

by Gianluca Salviotti

Reduction of information asymmetries, modularity, cocreation of product/service are the factors that measure the potential market impact of digital platforms and need to be considered by companies and policymakers dealing with them  

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New Procurement Code: A Bet on Trust

New Procurement Code: A Bet on Trust

by Andrea Celauro

The approach of the text approved by the Italian Parliament revolutionizes the perspective, putting aside the principle of suspicion in favor of greater freedom of initiative and selfresponsibility of public administrations. The aim is to relaunch the country through the PNRR, as Miriam Allena explains in this interview  

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How consistent this fiction is! It seems true

How consistent this fiction is! It seems true

by Giovanni Tuzet

Foundational, legal, justificatory, cognitive, and constitutive: five types of fiction, i.e. statements that are knowingly false but accepted in order to achieve a good legal consequence  

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More rules, less information

More rules, less information

by Claudia Imperatore

A study of on the reporting of risk by oil companies listed on 20 financial markets shows that voluntary disclosure of nonfinancial risks decreases with a high level of mandatory disclosure because companies no longer perceive it as beneficial. Regulators and market authorities are warned  

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Venture Capital: greasing the wheels of MA markets?

Venture Capital: greasing the wheels of MA markets?

by Lauren Vollon

A research paper investigates the relationship between startups and venture capitalists, showing that earnouts are lower when venture capital firms are involved  

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Spoils System? Better to Reward Performance and Young People

Spoils System? Better to Reward Performance and Young People

by Davide Ripamonti

This system has always been adopted to distribute offices and favors, and has produced an unstable, poorly qualified and elderly bureaucracy. As explained in the interview with Giacinto della Cananea  

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My Name Is Bond, Green Bond

My Name Is Bond, Green Bond

by Maurizio Dallocchio and Emanuele Teti

Investors are increasingly attracted to this new class of bonds whose supply, while rapidly increasing, is still low relative to demand. A study highlights the yield spread between traditional bonds and green bonds, concluding that the possibility of collecting resources at a discount does a double service to the entire system  

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Being lured into purchase

Being lured into purchase

by Matthias Rodemeier

The value of discounts collected via a promotional code is growing but the suspicion is that they are exploiting consumers' behavioral biases. An empirical study explains why and how  

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A dangerous clause

A dangerous clause

by Tito Boeri

Monopsony power can negatively affect workers' wages as well as inflating inequalities in wage levels across firms and employees. For this reason, the widespread presence of noncompete clauses that reduce the occupational mobility of workers should come under the scrutiny of the Italian antitrust authority  

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2023 OUTLOOK

2023 OUTLOOK

by Arnstein Aassve, Full Professor of Demography

Ten comments to look at the challenges of the new year. Chapter Two: Demographics. After the decline in fertility recorded during Covid, current inflation pressure and the geopolitical situation do not suggest an improvement in European fertility rates will occur. Which means there is no respite for the challenges associated with the aging of our societies  

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2023 OUTLOOK

2023 OUTLOOK

by Carlo Altomonte, Associate Professor of European Economic Policy

Ten comments to look at the challenges of the new year. Chapter Three: Europe, which needs to play according to new patterns and invest more in its domestic market, the richest in the world, by focusing on a model in which its strategic autonomy is central  

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2023 OUTLOOK

2023 OUTLOOK

by Valentina Bosetti, Full Professor of Climate Change Economics

Ten comments to look at the challenges of the new year. Fourth chapter: climate change. Europe is the largest international market for greenhouse gas emissions. In addition to gradually auctioning the remaining 40% of emission permits, the Carbon Boarder Adjustment Mechanism (CBAM) is expected to come into effect to prevent carbon leakage, i.e., the transfer of emissions to less stringent countries  

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2023 OUTLOOK

2023 OUTLOOK

by Donato Masciandaro, Full Professor of Monetary Economics, Intesa Sanpaolo Chair in Economics of Financial Regulaton

Ten comments to look ahead to the challenges of the new year. Fifth chapter: monetary policy. Even more than interest rates, we need to think about its transparency. The reason is that the effectiveness of monetary policy depends on its ability to influence the expectations of households, businesses and markets. And that ability is in turn linked to central bank announcements.  

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