Archivio istituzionale della Ricerca - Bocconi
Not a member yet
30225 research outputs found
Sort by
Social Security Without Rights? Rights Discourse and the Welfare State in Fascist Italy and New Deal America
No full textFascism contributed to the evolution of the Italian welfare state, mainly in respect of the latter of this binomial: the state. The development of social security helped to realize the totalitarian aspirations of the regime and stood as the theoretical and practical means of overcoming old liberalism in terms of government and citizenship. Nonetheless, Fascism never intended to establish universal welfare, which would only be achieved by the subsequent Republican era, particularly through the recognition of social rights as outlined in the 1948 Italian Constitution. In the same years, a radically different context also experienced a similar struggle over the definition of a modern welfare state: the United States. In response to the prolonged economic downturn, FDR’s New Deal sought to reconcile the previous warfare experiences with the necessity for a more prominent role of the federal government in economic and social matters, even in peacetime. Strange as it may seem, Fascism was one of the successful models to reckon with. The 1935 Social Security Act, which established a federal system of benefits and insurance, resulted in a transformation of the (welfare) state that bears resemblance to that of Fascist Italy. If this was not ultimately the case, it was due to a distinct emphasis placed on rights, which were regarded as a pivotal element of the political and constitutional framework. Although this «rights dis-course» distinguished the American experience from that of totalitarian regimes in the 1930s and 1940s, the concept of universal social rights encountered significant challenges in being adequately recognized within the context of American jurisprudence. Finally, this comparative analysis of the evolution of welfare in Italy and the United States during the interwar period demonstrates the pivotal role of the rights discourse in shaping the modern and democratic welfare state. This relationship should not be overlooked in understanding the past and planning for the future of welfare
Transcending Boundaries in the Age of International Corporate and Financial Law
No full textThis article critically examines the dynamic interplay between European corporate law and international corporate law (ICL) against the backdrop of globalization and regulatory competition, offering insights into the former’s multifaceted influences and contributions to the evolving dynamics of the latter.
Beginning with an exploration of the impact of ideologies such as nationalism, protectionism, and populism on corporate law, the study investigates the role of legal transplants and implants in comparative company law, highlighting their advantages and challenges, and the key features of ICL. Notably, the influence of U.S. law on ICL prompts an examination of EU corporate law’s role – whether it passively observes the Americanization of international legal systems or expands its own boundaries in response.
To gauge the extent of the EU legislation’s reach, this study examines its recent regulatory developments shaping corporate law and governance, as the Market Abuse Regulation (MAR) and its Review, the Corporate Sustainability Reporting Directive (CSRD), the Corporate Sustainability Disclosure Directive (CSDD), and the General Data Protection Regulation (GDPR). In addressing the issue of extraterritoriality, the examination of ECB law becomes imperative, given that the territorial scope of ECB legal acts is intricate and nuanced. Through a comprehensive analysis, this article aims to elucidate the impact of these regulations on the international corporate landscape, providing insights into the current status of EU corporate law and its global influence. In tandem, an exploration of the EU’s emerging role as a standard-setter in technology-related domains is undertaken through an analysis of the AI Act and the Markets in Crypto-Assets Regulation (MICAR). This scrutiny aims to illuminate this tendency (and its far-reaching consequences) on the ICL landscape, providing valuable insights into the current status of EU corporate law and its influence globally.
The argument put forth contends that EU corporate law displays attributes that have been adopted by the United States, as well as attributes borrowed by the EU from there. It also highlights a nuanced and dynamic relationship with principles of ICL. Hence, EU corporate law assumes a distinctive role and makes a unique contribution to ICL, underscored by its theoretical underpinnings, regulatory objectives, and normative trends. A traditional top-down and harmonized approach coexists with instances where the EU emerges as a pivotal authority, akin to leading international organizations within the ICL hierarchy. While not upsetting the status quo, this marks a significant step forward and reminds us of legal transplants. As the EU sails the legal seas, it not only unfurls its influence like a rising tide but also orchestrates a harmonious current, weaving through diverse legal landscapes
The Ideological (mis)framing of comparative procedure
No full textThis article critiques the pervasive role of ideology in comparative studies of civil procedure, rejecting the notion that scholarly interpretation is purely technical. It highlights three main harms of ideological influence: misinterpretations of legal systems, flawed rule transplants, and exclusion of Global South perspectives. These drawbacks stem from the comparatist’s tendency to adjust reality to fit ideological preconceptions, leading to distortions in comparative analysis. While ideology often distorts comparative analysis, its complete exclusion risks neglecting moral and social dimensions. Thus, the article calls for a balanced methodology: a descriptive analysis rooted in culturalism to account for the ideological and societal underpinnings of legal systems, and a normative analysis employing functionalism to define universal objectives like judicial independence, due process, and access to justice. This dual approach emphasizes the dynamic interplay between objective and subjective perspectives, recognizing that comparatists inevitably engage with their own ideological beliefs. By integrating cultural and functionalist methodologies, the paper proposes a sound framework for leveraging ideology constructively in comparative civil procedure studies
AI Act and the ECB: Steering Financial Supervision in the EU
No full textThe EU Artificial Intelligence Act (AI Act) is a landmark piece of legislation designed to regulate AI systems according to their risk levels and ensure the protection of fundamental rights. This paper focuses on the interplay between the AI Act and prudential supervision within the EU banking sector, with a particular focus on the role of the European Central Bank.
The study delves into the legal framework underpinning the ECB’s supervisory responsibilities, and prudential tasks. It assesses the obligations imposed by the AI Act on providers and users of high-risk AI systems in finance, highlighting the stringent requirements for transparency, accountability, and risk management.
Additionally, the paper examines the AI governance, hence the collaborative dynamics between the ECB, the AI Office, and the European AI Board. It underscores the importance of coordination in implementing AI governance frameworks, participating in regulatory sandboxes, and conducting real-world testing of high-risk AI systems.
The challenges and opportunities arising from the integration of AI into banking supervision are critically analysed. The paper advocates for a unified supervisory approach that balances the innovative potential of AI with prudential requirements, ensuring that ethical standards and financial stability are upheld.
This study contributes to the academic and regulatory discourse by providing insights into the evolving legal landscape governing AI in finance. It offers strategic policy recommendations to enhance the ECB’s oversight capabilities, facilitating the responsible integration of AI technologies while safeguarding the integrity of the financial system, proposing a pathway towards a more cohesive and effective regulatory framework for AI applications in the banking sector
Aligning differentiated mitigation capacity with the Paris agreement goals
No full textRegional disparities in mitigation capacity and the slow deployment of certain novel technologies pose significant challenges to achieving ambitious climate goals. We explore how accounting for technological and mitigation capacity considerations alters the regional distribution of mitigation efforts, and how these shifts relate to fairness considerations, all while staying within the scenario space aligned with the Paris Agreement’s goal of holding the increase in the global average temperature to well below 2 °C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5 °C above pre-industrial levels. To do so, we use a new set of scenarios generated using eight global integrated assessment models (IAMs). These scenarios shift near-term mitigation efforts to regions with greater mitigation capacity by implementing differentiated carbon pricing and emission caps, deviating from the default assumption of a uniform carbon price in global IAMs. We examine the scale of regional emissions reductions and energy system transformations needed, highlighting the implications in the near term. Our findings from the most ambitious scenario, highlight that Organisation for Economic Co-operation and Development (OECD) countries could reduce total CO2 emissions as reported in the models by approximately 85% (range: 81%–114%) by 2040 relative to 2020 levels and achieve net-zero CO2 emissions around 2045—well beyond the 58% reduction (range: 33%–71%) projected under default 2 °C pathways with a globally uniform carbon price. Similarly, China could reduce CO2 emissions by 78% (range: 55%–83%) by 2040 and reach net-zero by 2050, compared to a 50% reduction (range: 47%–72%) in default scenarios. In this ambitious scenario, other regions could aim to reach net-zero CO2 by 2070. This redistribution of mitigation efforts involves an accelerated phase-out of fossil fuels—coal, oil, and gas—primarily within the OECD region and, to a certain extent, in China. It also includes an early—but, in line with our feasibility considerations, limited—scale-up of carbon capture and storage capacity, along with significant reductions in final energy demand that go beyond current pledges and ambition levels. Beyond feasibility considerations, the new scenarios assume more mitigation efforts in regions with higher mitigation capacity proxied through institutional capacity, consistent with a capacity-based conception of regional fairness. Integrating certain considerations of feasibility and fairness into scenario assessments enables the development of alternative pathways that are, in some respects, more policy-relevant and help expand the scenario space—thereby responding to some of the recent critiques of global IAMs
Sanità digitale e telemedicina nell’AUSL della Romagna: evoluzione, esperienze e prospettive
No full textNegli ultimi anni, l’Azienda USL della Romagna ha assunto un ruolo di rilievo nell’attuazione delle strategie regionali di digitalizzazione in sanità, distinguendosi per un approccio proattivo e sperimentale, pur non privo di criticità. Il contributo ricostruisce l’evoluzione organizzativa e progettuale dell’Azienda in ambito digitale, analizzando il livello di sviluppo e maturità delle iniziative di telemedicina attualmente attive nei quattro territori di Rimini, Forlì, Cesena e Ravenna. Le esperienze esaminate – dalla gestione dello scompenso cardiaco al telemonitoraggio dei pazienti diabetici, dai percorsi di wound care alle piattaforme per i teleconsulti oncologici – restituiscono un quadro eterogeneo per grado di avanzamento e consolidamento. Il caso studio offre la fotografia di un contesto dinamico, caratterizzato da numerose iniziative ad alto potenziale, spesso nate dall’iniziativa di singoli professionisti ma ancora frammentate e non sempre integrate. Le sfide future per l’Azienda riguardano non solo l’esigenza di integrare i servizi digitali nei percorsi clinici in modo più strutturato e omogeneo sul territorio, ma anche il rafforzamento della governance interna e la diffusione di una cultura professionale dell’innovazione digitale. L’esperienza dell’AUSL della Romagna rappresenta dunque uno spaccato utile per comprendere non solo le opportunità, ma anche i nodi ancora da sciogliere per rendere la telemedicina una componente strutturale, realmente operabile e operativa dell’assistenza sanitaria
Common Ownership, obiettivi ESG e fenomeni collusivi: qualche riflessione sulla recente esperienza americana
No full textL'articolo esamina la teoria della common ownership e la sua applicazione da parte degli attorney general nei confronti dei principali asset manager americani, accusati di avere coordinato le loro politiche di engagement e di voto al fine di forzare le imprese produttrici di carbone a ridurre la produzione in linea con gli obiettivi "net zero"
GraphNeuralNetworks.jl: Deep Learning on Graphs with Julia
No full textGraphNeuralNetworks.jl is an open-source framework for deep learning on graphs, written in the Julia programming language. It supports multiple GPU backends, generic sparse or dense graph representations, and offers convenient interfaces for manipulating standard, heterogeneous, and temporal graphs with attributes at the node, edge, and graph levels. The framework allows users to define custom graph convolutional layers using gather/scatter message-passing primitives or optimized fused operations. It also includes several popular layers, enabling efficient experimentation with complex deep architectures. The package is available on GitHub: \url{https://github.com/JuliaGraphs/GraphNeuralNetworks.jl}
Profit taxation, R&D spending, and innovation
No full textWe study how profit taxes affect establishments’ R&D activities. Relying on detailed panel data of R&D-active firms in Germany over two decades, we exploit identifying variation induced by more than 10,000 municipal changes in the local business tax rate and federal tax reforms with locally varying effects. Using event study techniques, we find a sizable, negative effect of profit taxes on establishments’ total R&D spending and patents filed. Zooming into the innovation production process, we uncover substantial heterogeneity in the impact of profit taxation for various R&D input factors, among firm characteristics, and for different types of research projects
More laws, more growth? Evidence from U.S. states
No full textThis paper analyzes the conditions under which more legislation contributes to
economic growth. In the context of U.S. states, we apply natural language processing tools to measure legislative flows for the years 1965-2012. We implement a
novel shift-share design for text data, where the instrument for legislation is leaveone-out legal-topic flows interacted with pre-treatment legal-topic shares. We find
that at the margin, higher legislative output causes more economic growth. Consistent with more complete laws reducing ex post hold-up, we find that the effect is
driven by the use of contingent clauses, is largest in sectors with high relationshipspecific investments, and is increasing with local economic uncertaint