Archivio istituzionale della Ricerca - Bocconi
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The constitutional implications of the paradigm shift in the European budgetary galaxy after Covid-19 and the war in Ukraine
No full textThis dissertation explores the transformation of the EU budget following Covid-19 and the war in Ukraine. Following the pandemic, the EU adopted unprecedented programmes financed with a joint debt of significant size. This PhD dissertation argues that such novelties brought a paradigm shift in the European budgetary galaxy. The most relevant shift attains the issuance of debt to finance the EU’s expenditure, which, despite the many reassurances offered by the EU institutions to be merely temporary, is likely to affect the EU financial architecture permanently. This dissertation examines the legal construction of the new budgetary instruments, such as SURE, NextGenerationEU, RepowerEU and the assistance mechanism offered to Ukraine and investigates the constitutional consequences of the novel budget paradigm. It shows that key principles of the EU financial constitution are impacted, such as the principle of budgetary balance, unity, and integrity of own resources system, and suggests their evolutionary interpretations. It also illustrates how the new legal construction, which extensively relies on externally assigned revenues and is placed outside the standard budget, affects the budgetary powers of the EU institutions. Especially the European Parliament in its role of budgetary authority is bypassed. This architecture is critically discussed and risks concerning the principle of representative democracy, legitimacy, transparency and accountability are highlighted. In this respect, suggestions for reforms are appraised. The transformation of the EU finances also attains the Cohesion policy domain which, as this dissertation demonstrates, is expanded. Moreover, it is argued that the EU budget is nowadays provided with a new regulatory function that allows the EU indirectly to advance its policy priorities
Labor, land, and the global dynamics of economic inequality
Full text linkHere, we assess the extent to which land use relating to food acquisition (farming, herding, foraging) and associated value regimes shaped past economic inequality. We consider the hypothesis that land-use systems in which production was limited by heritable material wealth (such as land) sustained higher levels of inequality than those limited by (free) human labor. We address this hypothesis using the Global Dynamics of InequalIty (GINI) project database, estimating economic inequalities based on disparities in residential unit area and storage capacity within sites in different world regions and through time. We find that inequality was significantly greater in land-limited than labor-limited regimes, whether based on residence area or storage capacity, though governance could moderate these differences. Increasing inequality with larger residence and/or site size is associated with underlying shifts from labor- to land-limited economies. Transitions from labor- to land-limited regimes also appear to underlie the development of extended political hierarchies. Increases in inequality after cultivation became common in each hemisphere similarly reflect shifts from labor- to land-limited systems. Land-limited systems in the eastern hemisphere, incorporating animal traction, exhibit an upward trend in inequality over time, while a downward trend in the western hemisphere reflects the lower persistence of land-limited regimes based solely on human labor
Conceptualisation and measurement of healthy ageing: insights from a systematic literature review
No full textThis paper enhances the understanding and measurement of Healthy Ageing (HA) through a systematic review of its multidimensional operationalisation. Despite progress in HA research, no consensus exists on its constitutive elements, and current frameworks often do not capture its full complexity. Building on the World Health Organization (WHO) HA definition, we organise empirical evidence under three dimensions: intrinsic capacity (IC), functional ability (FA) and the environment (ENV). To identify conceptual, empirical and methodological gaps, we provide a structured synthesis of concepts, measures and instruments used in HA research, evaluating methodological advancement and standardisation in HA measurement.
Following PRISMA guidelines, we extract data from 55 quantitative, qualitative and mixed-methods studies with a multidimensional HA focus. We arrange evidence into three primary domains (IC, FA and ENV; first order), 15 sub-domains (second order) and 84 themes (third order). We identify operational categories via thematic analysis and inductively determine the final categorisation, moving from third to first order based on conceptual and measurement considerations. Given the lack of systematic knowledge on ENV, we generate a more nuanced categorisation capturing different levels of analysis and contexts. We compute a mean usage ratio to assess differences in the application of validated tools across HA aspects.
The review revealed substantial variability in HA conceptualisation and measurement. IC and FA are the most extensively studied domains, with well-established measurement approaches and widespread use. Common themes include locomotion, cognitive capacities and functional status. ENV remains significantly underexplored and lacks standardised measurement, as mainstream assessments still prioritise deficit-based approaches over enabling environments.
This analysis calls for a standardised, multidimensional HA model integrating individual and contextual factors, recognising the role of structural environmental supports in shaping ageing trajectories. Future research should prioritise comprehensive HA measurement and pursue an interdisciplinary approach bridging conceptual and methodological gaps to inform HA policies effectively
Are we ready for the next pandemic? Public preferences and trade-offs between vaccine characteristics and societal restrictions across 21 countries
Full text linkIn vaccination decisions, individuals must weigh the benefits against the risks of remaining unvaccinated and potentially facing social restrictions. Previous studies have focused on individual preferences for vaccine characteristics and societal restrictions separately. This study aims to quantify public preferences and the potential trade-offs between vaccine characteristics and societal restrictions, including lockdowns and vaccine mandates, in the context of a future pandemic. We conducted a discrete choice experiment (DCE) involving 47,114 respondents from 21 countries between July 2022 and June 2023 through an online panel. Participants were presented with choices between two hypothetical vaccination programs and an option to opt-out. A latent class logit model was used to estimate trade-offs among attributes. Despite some level of preference heterogeneity across countries and respondents’ profiles, we consistently identified three classes of respondents: vaccine refusers, vaccine-hesitant, and pro-vaccine individuals. Vaccine attributes were generally deemed more important than societal restriction attributes. We detected strong preferences for the highest levels of vaccine effectiveness and for domestically produced vaccines across most countries. Being fully vaccinated against COVID-19 was the strongest predictor of pro-vaccine class preferences. Women and younger people were more likely to be vaccine refusers compared to men and older individuals. In some countries, vaccine hesitancy and refusal were linked to lower socioeconomic status, whereas in others, individuals with higher education and higher income were more likely to exhibit hesitancy. Our findings emphasize the need for tailored vaccination programs that consider local contexts and demographics. Building trust in national regulatory authorities and international organizations through targeted communication, along with investing in domestic production facilities, can improve vaccine uptake and enhance public health responses in the future
Climate transition risk in the syndicated loan market
No full textThe syndicated loan market, essential for financing capital-intensive industries, faces increasing challenges from climate transition risks linked to global climate goals like the Paris Agreement. These risks, including regulatory, reputational, and market pressures, threaten the creditworthiness of high-emission borrowers and the stability of financial institutions.
Green and sustainability-linked loans have emerged as financial innovations to address these risks. Green loans fund environmentally beneficial projects, while sustainability-linked loans tie loan terms to borrowers’ ESG performance, incentivizing sustainable practices. While these tools align financing with climate goals and reduce risk exposure, issues like greenwashing and the lack of standardized ESG criteria remain significant obstacles.
This research examines the effectiveness of green and sustainability-linked loans in reducing banks' exposure to climate transition risks within the syndicated loan market. It analyzes loan data, ESG ratings, and CO2 emissions to assess whether these financial products achieve their environmental goals. The study focuses on how global systemically important banks (GSIBs) are reducing exposure to high-emission ("brown") industries and develops a new classification framework using cluster analysis to better capture climate risks
A smart mobility game with blockchain and hardware oracles
Full text linkThis research examines smart mobility, specifically focusing on e-scooters as a mode of urban transportation. It underscores the advantages of e-scooters in smart cities while also addressing the issues stemming from incorrect riding practices. To understand the strategies of both cities and e-scooter companies, the study adopts a game theory approach. The research delves into how blockchain technology and hardware oracles can promote the appropriate use of e-scooters. In one scenario, the city allocates resources to infrastructure to facilitate e-scooter travel, while the e-scooter company defines its service. Nonetheless, continuous misuse of e-scooters negatively impacts both parties. Therefore, in another scenario, the research assesses how blockchain can detect and penalize incorrect behaviors using smart contracts. The findings reveal that while blockchain bolsters smart mobility and curbs the incorrect use of e-scooters, it might also dissuade certain users from utilizing the service, presenting a set of challenges to smart mobility
The legitimization of LGBT+ workers in the Italian workplace: the role of social movement organizations, trade unions, and companies
No full textIn Italy, heterosexuality has historically been regarded as the ‘norm’ ,
fostering heteronormativity and heterosexism, which have led to the discrimination of lesbian, gay, and bisexual individuals. This chapter examines the workplace conditions for these groups, analysing the role of social movement organizations
(SMOs), trade unions, and companies in legitimizing lesbian and gay identities, while also acknowledging opposing forces, such as the Catholic Church
La Corte di Giustizia UE sulla vendita dei farmaci online
No full textIl capitolo descrive la sentenza della Corte di Giustizia dell’UE Dictopharma Sas c. Union des Groupements de pharmaciens d’officine.
La questione vede protagonista la società francese Doctipharma, creatrice di un sito fungente da piattaforma al quale gli utenti possono accedere al fine acquistare prodotti farmaceutici e medicinali, raggiungendo in tal modo siti di farmacie collegate. Tale piattaforma si pone in contrasto con la normativa francese. Dopo un iter presso le corti nazionali, la questione è arrivata in CGUE, la quale ha affermato che si rende necessaria una valutazione caso per caso, tentando di fornire una cornice ai giudici nazionali, ma lasciando margini di indeterminatezza.
Rispetto al sistema italiano, urge segnalare in proposito l’esistenza di due circolari ministeriali che non ammette l’utilizzazione di piattaforme o simili per facilitare la commercializzazione di farmaci. Di certo, tali circostanze non paiono essere in linea con il recente fenomeno dell’home delivery, che ben consentono al cliente registrato di selezionare una farmacia ed incaricare il vettore di andare a ritirare il prodotto desiderato. A fronte della sentenza citata, pare ammissibile ritenere che il Ministero della Salute sia indotto a rivedere le proprie posizioni in materi
Convexity and measures of statistical association
Full text linkRecent investigations on the measures of statistical association highlight essential properties such as zero-independence (the measure is zero if and only if the random variables are independent), monotonicity under information refinement, and max-functionality (the measure of association is maximal if and only if we are in the presence of a deterministic (noiseless) dependence). An open question concerns the reasons why measures of statistical associations satisfy one or more of those properties but not others. We show that convexity plays a central role in all properties. Convexity plus a form of strictness (that we are to define) are necessary and sufficient for zero-independence, and convexity and strict convexity on Dirac masses are necessary and sufficient for max-functionality. We apply the findings to study the families of measures of statistical association based on Csisz & aacute;r divergences, optimal transport, kernels, as well as Chatterjee's new correlation coefficient. We further discuss the role of convexity in guaranteeing the asymptotic unbiasedness of given data estimators, prove a central limit theorem for those estimators under independence, and show the rate of convergence under arbitrary dependence. We demonstrate the findings with numerical simulations in a multivariate response context