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Second-Best Optimal Taxation of Oil and Capital in a Small Open Economy
No full textThis paper analyzes the efficient taxation of oil and capital income in an oil-dependent infinite-lived economy facing perfect capital mobility. Two cases are examined: one with product market imperfections and free tax choice, one with perfect competition and tax restrictions.
The optimal tax rates on oil and capital strictly depend on the international tax system implemented; however, they are also affected by the degree of market power and the extent to which monopoly profits are taxed, the type of tax restrictions and the use of oil (as an input or a consumer good). Under the residence-based system, capital income
should always be exempted from taxation, while the optimal tax on productive oil may differ from zero. Under the source-based system, second-best taxes on capital and oil are non-zero.This paper analyzes the efficient taxation of oil and capital income in an oil-dependent infinite-lived economy facing perfect capital mobility. Two cases are examined: one with product market imperfections and free tax choice, one with perfect competition and tax restrictions.
The optimal tax rates on oil and capital strictly depend on the international tax system implemented; however, they are also affected by the degree of market power and the extent to which monopoly profits are taxed, the type of tax restrictions and the use of oil (as an input or a consumer good). Under the residence-based system, capital income
should always be exempted from taxation, while the optimal tax on productive oil may differ from zero. Under the source-based system, second-best taxes on capital and oil are non-zero.Non-Refereed Working Papers / of national relevance onl
Choosing the Right Gambling Partner: Experimental Evidence
No full textThis paper investigates the behavior of economic agents facing situations in which they are required to team up with other agents.This paper investigates the behavior of economic agents facing situations in which they are required to team up with other agents.Non-Refereed Working Papers / of national relevance onl
Indeterminacy of Competitive Equilibrium with Risk of Default
No full textWe prove indeterminacy of competitive equilibrium in sequential economies, where limited commitment requires the endogenous determination of solvency constraints preventing debt repudiation (Alvarez and Jermann [3]). In particular, we show that, for any arbitrary value of social welfare in between autarchy and (constrained) optimality, there exists an equilibrium attaining that value. Our method consists in restoring Welfare Theorems for a weak notion of (constrained) optimality. The latter, inspired by Malinvaud [15], corresponds to the absence of Pareto improving feasible redistributions over nite (though inde nite) horizons.We prove indeterminacy of competitive equilibrium in sequential economies, where limited commitment requires the endogenous determination of solvency constraints preventing debt repudiation (Alvarez and Jermann [3]). In particular, we show that, for any arbitrary value of social welfare in between autarchy and (constrained) optimality, there exists an equilibrium attaining that value. Our method consists in restoring Welfare Theorems for a weak notion of (constrained) optimality. The latter, inspired by Malinvaud [15], corresponds to the absence of Pareto improving feasible redistributions over nite (though inde nite) horizons.Non-Refereed Working Papers / of national relevance onl
From Supply Chains to Supply Networks: the Beer Game evolution
No full textThe new trends in inter-organisation configurations are challenging the traditional concept of supply chain. Concepts such as Virtual Enterprise have been introduced to describe scenarios in which manufacturers operate as nodes in a network of suppliers, customers, engineers, and other specialised service functions Our aim is to create a simulation based on the rules of the Beer Game which includes the variables of a virtual enterprise, VirtuE in particular, and risk management, in order to understand the strategies underlying the subjects behavior in the face of risk within a means-end chain. This study shows the tests carried out on the original game, the variables that we proposed and the simulation results.The new trends in inter-organisation configurations are challenging the traditional concept of supply chain. Concepts such as Virtual Enterprise have been introduced to describe scenarios in which manufacturers operate as nodes in a network of suppliers, customers, engineers, and other specialised service functions Our aim is to create a simulation based on the rules of the Beer Game which includes the variables of a virtual enterprise, VirtuE in particular, and risk management, in order to understand the strategies underlying the subjects behavior in the face of risk within a means-end chain. This study shows the tests carried out on the original game, the variables that we proposed and the simulation results.Uninvited Submission
La contrattazione interconfederale
No full textThe paper investigates the evolution of interconfederal collective bargaining in 2009. This was a year full of events, which opened with the subscription of the framework agreement on the reform of collective bargaining on January 22, 2009.
In this perspective, the work analyzes the events which led to the failure to sign the agreement on the side of the main Italian trade union, Cgil, and examines the main innovations contained in the agreement, from the duration of collective contracts – which became of three-year, both as relates to the “normative” part (the one regulating rights and duties of contracting parties) and to the “compulsory” part (the one regulating every other item) – up to the introduction of HICP, the Harmonized Index of Consumer Prices, and to the strengthening of contractual decentralization.
In addition to examining the limits of the agreement in the part devoted to union representation, the work focuses on the main innovation brought by this agreement, i.e. the so-called “opting out” clause. This clause, which is similar to the clauses for opening the German system of industrial relations, makes it possible for second level collective contracts, in specific situations and in accordance with “specific procedures, methods and conditions”, to “modify, thoroughly or partly, including on an experimental and temporary basis, individual economic or juridical institutions of national collective bargaining by economic activity”.
In its final part, after an analysis of the main features of the interconfederal agreement subscribed with the Employers’ association (Confindustria) on April 15, 2009 and of the one adopted with reference to the public service on April 30, the paper emphasizes the temporary and incomplete nature of this type of agreement and traces the main problematic issues that need to be solved, starting with trade union representation.The paper investigates the evolution of interconfederal collective bargaining in 2009. This was a year full of events, which opened with the subscription of the framework agreement on the reform of collective bargaining on January 22, 2009.
In this perspective, the work analyzes the events which led to the failure to sign the agreement on the side of the main Italian trade union, Cgil, and examines the main innovations contained in the agreement, from the duration of collective contracts – which became of three-year, both as relates to the “normative” part (the one regulating rights and duties of contracting parties) and to the “compulsory” part (the one regulating every other item) – up to the introduction of HICP, the Harmonized Index of Consumer Prices, and to the strengthening of contractual decentralization.
In addition to examining the limits of the agreement in the part devoted to union representation, the work focuses on the main innovation brought by this agreement, i.e. the so-called “opting out” clause. This clause, which is similar to the clauses for opening the German system of industrial relations, makes it possible for second level collective contracts, in specific situations and in accordance with “specific procedures, methods and conditions”, to “modify, thoroughly or partly, including on an experimental and temporary basis, individual economic or juridical institutions of national collective bargaining by economic activity”.
In its final part, after an analysis of the main features of the interconfederal agreement subscribed with the Employers’ association (Confindustria) on April 15, 2009 and of the one adopted with reference to the public service on April 30, the paper emphasizes the temporary and incomplete nature of this type of agreement and traces the main problematic issues that need to be solved, starting with trade union representation.Articles published in or submitted to a Journal with I
Knowledge Sharing in a Cultural Heritage Context: An Exploratory Study
No full textOnce discovered, an archaeological find starts a sort of new "life-cycle", throughout which it
will cross several events sometimes repeatedly. Just for its discovery, each find brings with it
several information. Each event it may cross (restoration, study, exhibition etc.) generates as
well additional information. Despite the fundamental role in such domain, information is
often considered as individual knowledge, not specifically managed, and then not available to
persons different from the ones implied in each single event. This work therefore introduces
an exploratory case of study whose main goal is the analysis of the ArcheoTRAC information
system and its supporting role in knowledge management processes involving cooperation
among different subjects and organizations. In particular, the study will focus on the role of
the ArcheoTRAC system in fostering knowledge creation and knowledge transformation
processes and in exploiting available knowledge in these processes.Once discovered, an archaeological find starts a sort of new "life-cycle", throughout which it
will cross several events sometimes repeatedly. Just for its discovery, each find brings with it
several information. Each event it may cross (restoration, study, exhibition etc.) generates as
well additional information. Despite the fundamental role in such domain, information is
often considered as individual knowledge, not specifically managed, and then not available to
persons different from the ones implied in each single event. This work therefore introduces
an exploratory case of study whose main goal is the analysis of the ArcheoTRAC information
system and its supporting role in knowledge management processes involving cooperation
among different subjects and organizations. In particular, the study will focus on the role of
the ArcheoTRAC system in fostering knowledge creation and knowledge transformation
processes and in exploiting available knowledge in these processes.Refereed Working Papers / of international relevanc
Finanza e Private Equity: infrastrutture e sostenibilità ambientale
No full textPrivate Equity per lo sviluppo delle economie. Private Equity nel finanziamento delle infrastrutture. Private Equity nel finanziamento della sostenibilità ambientale.Private Equity per lo sviluppo delle economie. Private Equity nel finanziamento delle infrastrutture. Private Equity nel finanziamento della sostenibilità ambientale.LUISS PhD Thesi
Le public knowledge partnerships nell'ambito delle politiche per la ricerca e lo sviluppo tecnologico dell'Unione Europea
No full textIl quadro di riferimento. Le public knowledge partnerships: teoria ed evidenze. Le public knowledge partnerships e le politiche per la ricerca e lo sviluppo tecnologico dell'UE: i programmi quadro. Analisi econometrica.Il quadro di riferimento. Le public knowledge partnerships: teoria ed evidenze. Le public knowledge partnerships e le politiche per la ricerca e lo sviluppo tecnologico dell'UE: i programmi quadro. Analisi econometrica.LUISS PhD Thesi
Autotutela e tutele nell'escussione della garanzia finanziaria pignoratizia
No full textGaranzie finanziarie e divieto del patto commissorio. Garanzie finanziarie e poteri di autotutela del collateral taker. Il criterio di ragionevolezza commerciale nella disciplina delle garanzie finanziarie. Le tutele esperibili dal collateral provider, dai terzi creditori e dagli organi della procedura di liquidazione.Garanzie finanziarie e divieto del patto commissorio. Garanzie finanziarie e poteri di autotutela del collateral taker. Il criterio di ragionevolezza commerciale nella disciplina delle garanzie finanziarie. Le tutele esperibili dal collateral provider, dai terzi creditori e dagli organi della procedura di liquidazione.LUISS PhD Thesi
