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Results: 68


Simonetta Acri
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Economy and Finance area

Competences: corporate finance, export credit, international development strategies, new debt instruments, sales and marketing policies, sales network organization and management

Keywords: commercial development, corporate finance, credit insurance, export credit agency, indirect networks, international growth, large corporate, minibond, supplier credit, trade finance

Region: Lazio


Position/Role

Chief Sales Officer of Sace SPA; Board member Simest SPA; Board member Sace FCT SPA; Board Member Veneto Sviluppo SPA (regional financial institution) and Member of the Investment Committee of the same; Member of the Executive Council of the Master of the Catholic University of Milan CARINT Corporate Advisory and intercultural resources.

Professional career

Simonetta Acri has been with SACE since 2003, where she held various first-level roles, contributing to the development of new operational areas and giving a strong boost to the sales network. Previously she worked as Regional Head Structured Trade & Export Finance for the Corporates & Investment Bank Division of Deutsche Bank with responsibility for the Italian market and South Eastern Europe and was head of the Trade Finance unit of Morgan Grenfell. She currently holds the position of Chief Sales Officer of Sace, promoting the commercial development of the company towards the domestic market (from SMEs to Large Corporate) and towards the international market, through the Sace network of offices located abroad.

Scientific results

Proma Group minibond emission

De Cecco minibond emission

Interactive platform development (ExportPlus) for distribution of insurance products to SMEs
Acquisition of Ducati by TPG

Various bond emissions Borrower Emerging Markets

Editorial work and publications

In addition to various articles on emerging market trends published by Sole 24ore in the period 1997-99 in the insert "Imprese e Mercati", Simonetta Acri is the author, with Licastri E. of The experience of Sace in support of business financing, Monetary Observatory , number 3, year 2014.

 

Stefania Albanesi
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Economy and Finance area

Competences: fiscal policy, gender economy, inequality, labor economics, macroeconomics, monetary policy

Keywords: consumer credit, income tax, inflation

Region: ABROAD


Position/Role

Full Professor of Economics at the University of Pittsburgh

Professional career

After graduating in Political Economics at the Bocconi University in 1996, she continued her training with a Ph.D. in Economics from Northwestern University (USA) completed in 2001. From 2001 to 2011 she was assistant professor at Bocconi University, at Duke University (USA) and assistant and associate professor at Columbia University in New York. In 2009 she was a National Fellow at the Hoover Institution at Stanford University. From 2012 to 2016 she was Senior Economist and Research Officer at the Federal Reserve Bank of New York. Since 2016, she has been a full professor of economics at the University of Pittsburgh. She has been a visiting professor at numerous universities including New York University, the University of Pennsylvania and Princeton University.

Scientific results

Stefania Albanesi's research activity takes place in the field of macroeconomics, with particular attention to inequality, its causes and the redistributive consequences of various economic policies. In this context, she studied the political determinants of inflation, regulatory aspects of taxation of labor and capital income, and the historical evolution of gender disparities in the labor market. Currently, her research focuses on various aspects of the economic crisis of the late 2000s. A line of analysis concerns the dynamics of consumer credit, and in particular the mortgage market, in the years preceding the financial crisis of 2007-2009, and during its resolution. A second vein studies the role of variation in female participation and technological changes such as automation in the different economic performance of the United States and of various European nations, with particular attention to employment dynamics and occupational polarization.

Editorial work and publications

She is the author of numerous publications, including:

 

(2017) Albanesi S, De Giorgi G, Nosal J. Credit Growth and the Financial Crisis: A New Narrative, National Bureau of Economic Research, Working Paper 23740.

(2017) ) Albanesi S, Sahin A. The Gender Unemployment Gap. National Bureau of Economic Research, Working Paper 23743.

(2016) Albanesi S,Olivetti C.Gender Roles and Medical Progress. The Journal of Political Economy.

(2015) Albanesi S,Olivetti C, Prados M.Gender and Dynamic Agency: Theory and Evidence on theResearch in Labor Economics.

(2014) Albanesi S, Nosal J.  Insolvency after the 2005 Bankruptcy Reform.  Centre for Economic Policy Research, Discussion Paper 10533.

(2014) Albanesi S,Olivetti C. Maternal Health and the Baby Boom. Quantitative Economics.

(2012) Albanesi S, Roc A. Intertemporal Distortions in the Second Best,The Review of Economic Studies.

(2009) Albanesi S,Olivetti C. Home Production, Market Production and the Gender Wage Gap: Incentives and Expectations, Review of Economic Dynamics.

(2008) Albanesi S. Redistribution and Optimal Monetary Policy: Results and Open Questions.Rivista di Politica Economica.

(2008) Albanesi S. Social Insurance. The New Palgrave Dictionary of Economics and Law (2nd ed.). London: Palgrave MacMillan Limited.

(2007) Albanesi S.  Inflation and Inequality. Journal of Monetary Economics.

(2006) Albanesi S,Sleet C. Dynamic Optimal Taxation with Private Information.The Review of Economic Studies.

(2003) Albanesi S. Chari VV, Christiano L. Expectation Traps and Monetary Policy.The Review of Economic Studies.

(2002)  Albanesi S. Chari VV, Christiano L. How Severe is the Time Inconsistency Problem in Monetary Policy,Advances in Economic Theory and Econometrics.

Awards and prizes

Stefania Albanesi is NBER Research Associate, CEPR Research Fellow, and non-resident fellow of Carlo F. Dondena Center for Research on Social Dynamics and Public Policy at Bocconi University. Furthermore, she is a network member of the Human Capital and Economic Opportunity Working Group at the Becker-Friedman Institute of the University of Chicago. She was invited to hold keynote lectures at various conferences, including the 17th IWH-CIREQ-GW Macroeconometric Workshop on Inequality, Micro Data and Macroeconomics in 2016 and the Women and Macroeconomics and Finance Workshop in 2017. Stefania Albanesi is also associate editor of several academic journals, including the Journal of Economic Theory and the Review of Economic Dynamics. She also received research funding from the National Science Foundation for her work on female employment and capital taxation.

 

Alessandra Bacà
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Economy and Finance area

Competences: public finance

Keywords: e-governement, payment system and instruments

Region: Lazio


Position/Role

Economist expert of public finance at Bank of Italy

Professional career

After graduating in Economics, Statistics and Social Sciences at Bocconi University, she developed her professional experience in the field of Financial Services in the international arena. In September 2016, she joined the Bank of Italy, where she is in charge of monitoring the payment times of public administrations, in close collaboration with the Ministry of Economy and Finance and with the Agency for Digital Italy. Previously, she worked as a business consultant both in Italy and abroad at Accenture, supporting leading banks and insurance companies in streamlining processes, projects and change management. Subsequently, she dealt with corporate organization for credit and risk management at Intesa Sanpaolo; she supported the start-up of Banca del Mezzogiorno and the development of e-government within the Poste Italiane group; she carried out marketing activities on Banco Posta's financial products and payment systems.

In addition to this, she passionately cultivates her humanistic side, through the involvement in various cultural associations and the creation of the Facebook group "Culture sharing" for the development of a "culture of culture" in Rome.

Scientific results

The research activity of Alessandra Bacà has so far been carried out on issues relating to the development of the country and its institutional structure, through the publication of two works with two Roman Think Tanks (Trinità dei Monti, Forma) in order to analyze Italy’s growth perspectives in the next twenty years, and to examine the public finance implications of specific institutional reforms in Italy.

Editorial work and publications

[2017] Pierluigi Testa, Alessandra Bacà, Alessandro Bracci, Claudia Curci, Pierangelo Sardi, Roberto Venturini, L’Italia tra vent’anni,Amazon.it

[2018] di Valerio Polidori, Bruno Detti, Paolo Naggar, Andrea Negrini, Alessandra Bacà,    Giulio Bacosi, Luca Benegiamo, An innovative approach to institutional reforms,Amazon.it

 

Awards and prizes

Golden medal for graduating with honors in Economics, Statistics and Social Sciences at Bocconi University in 2005.

Oriana Bandiera
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Economy and Finance area

Competences: contracts, economic development, labor economics, organizations

Keywords: governments, incentives, institutions, poverty, social connections

Region: ABROAD


Position/Role

Chair Sir Anthony Atkinson at the London School of Economics and Political Sciences, UK.

Professional career

After graduating in Economics at the Bocconi University in Milan, respectively in 1993 and 1994, she completed her education through a PhD in Economics at Boston College (USA), in 2000. From 1999 to 2007 she was lecturer in Economics at London School of Economics (UK) and reader in Economics until 2010 in the same. From 2010 to 2017 she was Professor of Economics and from 2017 she has been Sir Anthony Atkinson chair in Economics at the London School of Economics. She has been visiting assistant professor at the University of Chicago (2003), New York University (2004), Institute for International Economic Studies in Stockholm (2004 and 2006), Bocconi University (2005), Yale University (2005) and Northwestern University (2007) Currently she is also Director of the Suntory and Toyota International Centers for Economics and Related Disciplines (London), Co-Director of the State Capabilities Program at the International Growth Center (London) and of the Development Research Program at the Center for Economic Policy Research (London).

Scientific results

Oriana Bandiera has concentrated its research on the analysis of organizations and labor markets in different contexts, especially in poor and developing countries. In particular, she studied the role of economic incentives and material remuneration, and not, within public and private organizations. In this way, she highlighted the importance of adequate motivation in the selection process of public employees and in the performance of their duties. Similar themes have been applied to the industrial sector, and in particular to the introduction of social incentives in companies and in the workplace, and to the conduct of managers. One of the most recent projects in this field concerns the formation of "altruistic capital", or accumulable social motivation, but also exhaustive, through the fulfillment, or lack, of altruistic acts, that is directed to the good functioning of the community. In the field of labor markets, research on the importance of transferring skills and durable goods to women generally employed in low-return activities, aimed at an efficient allocation of time in work, and a definitive exit is particularly relevant. from poverty. Other topics of study are female affirmation, the importance of social connections and the role of governments in economic development. Her research is largely carried out through the use of empirical methods applied in the field, such as randomized controlled trials.

Editorial work and publications

Oriana Bandiera is co-editor of the Journal of Labor Economics and Economics. She is a member of the European Economic Association and the Royal Economic Society. In addition, she is on the editorial board of the Journal of Economic Literature, Journal of Development Economics, Economic Journal, Economics and Journal of the European Economic Association.
She is the author of numerous publications, including:

(2017) Ashraf N, Bandiera O. Altruistic Capital. American Economic Review, vol. 107(5): 70-75.

(2016) Bandiera O, Burgess R, Das N, Gulesci S, Rasul I, Sulaiman M. Labor Markets and Poverty in Village Economies.Quarterly Journal of Economics, vol. 132(2): 811-870.

(2015) Bandiera O, Guiso L, Prat A, Sadun R. Matching Firms, Managers and Incentives. Discussion Paper 7207 Journal of Labour Economics, vol. 33(3): 623-681.

(2014) Ashraf N, Bandiera O, Jack K. No Margin, no mission? A field experiment for public service delivery. Journal of Public Economics, vol. 120(C): 1-17.

(2013) Bandiera O, Barankay I, Rasul I. Team Incentives: Evidence from a Field Experiment. Journal of the European Economic Association, vol. 11(5): 1079-1114.

(2011) Bandiera O, Levy G. Diversity and the power of the elites in democratic societies: Evidence from Indonesia. Journal of Public Economics, vol. 95(11): 1322-1330.

(2010) Bandiera O, Barankay I, Rasul I.Social Incentives in the Workplace. Review of Economic Studies, vol. 77(2): 417-458.

(2009) Bandiera O, Prat A, Valletti T. Active and Passive Waste in Government Spending: Evidence from a Policy Experiment. American Economic Review, vol. 99(4): 1278-1308.

(2009) Bandiera O, Barankay I, Rasul I. Social Connections and Incentives in the Workplace: Evidence from Personnel Data. Econometrics, vol. 77(4): 1047-1094.

(2008) Bandiera O, Barankay I, Rasul I. Social capital in the workplace: Evidence on its formation and consequences. Labour Economics, vol. 15(4): 724-748.

(2007) Bandiera O, Branka, I, Rasul I. Incentives for Managers and Inequality Among Worker: Evidence from a Firm Level Experiment. Quarterly Journal of Economics, vol. 122(2):729-775.

(2006) Bandiera O, Rasul I. Social Networks and the Adoption of New Technology in Northern Mozambique.Economic Journal, vol. 116(514): 862-902.

(2005)  Bandiera O, Barankay I, Rasul I. Social Preferences and the Response to Incentives: Evidence from Personnel Data. Quarterly Journal of Economics.vol. 120(3): 917-962.

(2003) Bandiera O. Private States and the Enforcement of Property Rights: Theory and Evidence on the origins of the Sicilian mafia. Journal of Law, Economics and Organization, vol. 19(1): 218-244.

Awards and prizes

She is a fellow of the British Academy, Econometric Society, Center for Economic Policy Research (CEPR), Bureau for the Analysis of Economic Development (BREAD), Institute of Labor Economics (IZA), Center for Ecomic Studies (CESIfo), Innovation for Poverty Action ( IPA). JPAL Europe and European Development Research Network (EUDN). She was the winner of numerous awards, including the Carlo Alberto medal, awarded every two years to an Italian citizen under the age of 40 for research in economics.

Flavia Barca
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Economy and Finance area

Competences: cultural economics, media economics

Keywords: cultural heritage

Region: Lazio


Position/Role

President of Acume - www.acume.netand Member of the Italian Film and Audiovisual Council at Ministry of Cultural Heritage and Activities in Italy (Mibac), the independent consultative body to the Italian Minister of Culture.

Professional career

Flavia Barca is an expert in cultural policies, cultural economics, and media economics. 

She served as Deputy Mayor for Culture in the Rome City Council, and has collaborated as an expert for the UNESCO Institute of Statistics and many Italian and international institutions, as well as serving as a consultant and trainer for universities and public and private bodies. She taught Media and ICT Economics at the Media Studies Faculty of Rome University “La Sapienza”and at Teramo University. 

She has conducted extensive research for both public and commercial broadcasters, as well as authoring various audiovisual production projects. She worked as Director at IEM (the Fondazione Rosselli Institute of Media Economics) and managed a large number of research projects in various sectors of the Communications and Creative Industries. Her main areas of work include: culture, development and regional smart-specialization strategies; the economics of media groups and markets; the impact of the media and communications industry on the social and economic fabric of the country; the concept of public service and its reshaping in a new digital habitat; public investments and policies in sustaining culture and creative industries.

She graduated in Liberal Arts at Roma Tre University and received an MA in Communication Policy Studies from City University, London. 

Scientific results

She is specialised in desk and field analysis of cultural and creative SMEs. Among other projects, she conducted the first broad study about the Local TV Sector, the Videogame Sector and the TV Production Sector in Italy, combining theoretical and empirical approaches. She also carried out the first analytic study in Italy on public investments and European funds (2007-2013) in the cultural and creative industries.

More recently, she has concentrated her research on three main themes: promoting projects and research in cultural heritage and territorial development; monitoring and evaluating cultural planning and public policies; promoting gender equality.

Editorial work and publications

Her latest publications include: L’impresa culturale attrattiva e generativa di valore nel Mezzogiorno, in Territori della cultura, n.34, anno 2018, p. 92-97; Le diseguaglianze di genere nella società dello spettacolo in Economia della Cultura, 1-2/2018, pp. 163-172, Il Mulino; L’Anno Europeo del Patrimonio Culturale (The European Year of Cultural Heritage) in Digicult, Scientific Journal on Digital Cultures, vol. 2 n. 3, 2017 http://www.digitcult.com/;Public Service Media and the Common Good in Digicult, Scientific Journal on Digital Cultures, Special Issue, vol. 1 n. 1, 2016 http://www.digitcult.com/;The Television Production Sector in Italy and the Challenges of Globalization in Albarran, Faustino and Santos, “The Media as a Driver of Information Society” (MediaXXI Collection, FormalPress Group, Lisbon, 2009).

Awards and prizes

She is  Member of the Scientific Committee of JOCIS - Journal of Creative Industries and Cultural Studies: https://www.mediaxxi.com/journal-of-creative-industries-and-cultural-studies/, Member of the Scientific Committee of Digitcultwww.digitcult.com, Member of the Editorial Board of the journal Economia della Culturawww.economiadellacultura.it, Member of the David di Donatello Academy and Jury.

 

Graziella Bertocchi
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Economy and Finance area

Competences: macroeconomics, political economy

Keywords: demographics, family, gender, inheritance, institutions, migrants, political power, slavery

Region: Emilia-Romagna


Position/Role

Full professor of political economy and director of RECent, a research center of the Marco Biagi Department of Economics at the University of Modena and Reggio Emilia

Professional career

After an undergraduate degree in Economics at the University of Modena in 1980, she obtained a Ph.D. in Economics at the University of Pennsylvania in Philadelphia (USA). Between 1987 and 1993 she was an assistant professor at Brown University in Providence (USA). In 1993 she became an associate, and in 2000 a full professor, in Modena. She has been a visiting professor at several institutions including the University of Oslo, European University Institute, Royal Holloway-University of London, New York University, IGIER-Bocconi and Université Catholique de Louvain. She has coordinated the Group of Evaluation Experts for the Economics and Statistics Area within the 2011-2014 Italian National Research Evaluation run by ANVUR.

Scientific results

Graziella Bertocchi’s research belongs to the fields of political economy and macroeconomics, with a focus on the interactions between economic development and institutions in a historical perspective. In particular, she has studied the determinants and consequences of the empowerment of social groups such as women, youths, ethnic minorities, and migrants. For instance, in a recent paper she has coded the citinzenship laws applied across countries and analyzed their evolution in the face of migration flows, taking into account other factors such as the legal tradition, the level of democracy, the demographic equilibrium, the structure of the welfare state, and geo-political stability. She has also contributed to the analysis of wealth inequality and its link with inheritance systems and taxation showing that, historically, primogeniture favored wealth concentration and that the current decline in inheritance taxation can be explained by a relative decrease in inequality. In another complementary research line she has focused on family structure and the determinants of gender gaps, in terms of education, financial decisions, and sexual behavior. In particular, she has shown how in Africa the spread of polygyny is associated, especially for women, with marital infidelity and vulnerability to HIV contagion. 

Editorial work and publications

Graziella Bertocchi has authored many publications, including the following:

(2015) Bertocchi G, Gambardella A, Jappelli T, Nappi C, Peracchi F. Bibliometric Evaluation vs. Informed Peer Review: Evidence from Italy. Research Policy, 44:451-466.

(2015) Bertocchi G, Dimico A. Slavery, Education, and Inequality. European Economic Review, 70:197-209.

(2014) Bertocchi G, Brunetti M, Torricelli C. Who Holds the Purse Strings within the Household? The Determinants of Intra-family Decision Making. Journal of Economic Behavior & Organization, 101:65-86.

(2006) Bertocchi G. The Law of Primogeniture and the Transition from Landed Aristocracy to Industrial Democracy. Journal of Economic Growth, 11:41-68.

(2002) Bertocchi G, Canova F. Did Colonization Matter for Growth? An Empirical Exploration into the Historical Causes of Africa's Underdevelopment. European Economic Review, 46:1851-1871.

Awards and prizes

Graziella Bertocchi is a fellow of Academia Europaea, Centre for Economic Policy Research, Institute for the Study of Labor, Centre for Household, Income, Labour and Demographic Economics, Dondena Gender Initiative, and Global Labor Organization. She is a member of the Standing Committee on Women in Economics of the European Economic Association. She was invited to deliver the Julian Simon Lecture at the 12th IZA Annual Migration Meeting in Dakar in 2015 and the Keynote Lecture at the 29th Meeting of the German-Israeli Foundation on Understanding Contemporary Migration in Jerusalem in 2008. 

 

 

 

 

 

 

 

 

 

 

 

 

Francesca Bettio
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Economy and Finance area

Competences: gender economy, labor economics, population economy

Keywords: caring economics, prostitution

Region: Tuscany


Position/Role

Full professor of Economic Policy at the Department of Political Economy and Statistics, University of Siena, Italy

Professional career

Francesca Bettio graduated in political science, economics major, from the University of Bologna, then in economics from the University of Naples (Portici), London School of Economics (MSc) and University of Cambridge (GB)(PhD). Her doctoral thesis was published by Clarendon Press (Oxford) in 1988. In 1984, she resumed teaching in Italian universities as researcher in Rome (La Sapienza) and as associate professor in Salerno and Siena, where she was appointed full professor in 2000. Besides long years of postgraduate training in the UK, she also spent research and teaching periods in Europe, the US and Africa at Columbia University, the New School for Social Research (New York), the American University (Washington), St. Antony’s College (Oxford), Universidade Eduardo Mondlane (Maputo) and Cape Town University.

Since her Ph.D. in the early eighties, she has collaborated intensely with the European Commission. Since 1996 she has periodically coordinated networks of community experts formed from time to time to assist the Commission on the topics of female work and gender equality at the Directorate-Generals for Employment, Social Affairs and Inclusion and for Justice and Consumers. During more than 30 years of EC activity, she has expounded at many EC summits, publishing many research monographs in collaboration with Alina Verashchagina and other experts. Nine of them were published in EC or EU journals or volumes. She has also offered consultancy and research for Italian local government, especially on the question of gender budgets. In 2000 she co-founded the website inGenere.it to which she contributes regularly.

Scientific results

In the volume based on her doctoral thesis, she offered the first historical reconstruction of the evolution of female employment and salary gender gaps in Italy from the industrial revolution to the 1980s. In this volume and theoretically, she contributed to debate on the factors influencing pay and earnings disparity between men and women and the sex-typing of jobs (occupational segregation), developing what has come to be called the low value added hypothesis.

In the early 1990s, she and Paola Villa developed a Mediterranean model of female participation in the work force and fertility, which drew the attention of scholars to the paradoxical pattern of low employment/low fertility in Mediterreanean countries in contrast with high employment/high fertility in northern countries. The idea created a ripple in the literature and is still topical. Later, in collaboration with experts, including Janneke Plantenga, Paola Villa and Annamaria Simonazzi, she developed a taxonomy of “care regimes” that continues to have a substantial following in the international literature, and in the specific case of elderly care helped introduce the so-called migrant in the family model.

Finally, stimulus received in EC circles was determinant for two lines of research that are proving fertile. The first rests on evidence that the pension disparity between men and women is still very high in Europe, and that in Italy it is even higher than labour earnings disparities. The second concerns links between violence against women, economic status of women and gender equality in general. An important result emerged in a recent collaboration with colleagues Gianni Betti and Elisa Ticci: a methodological innovation enabling measurement of degrees of violence made it possible to show that countries “more equal” from the gender viewpoint tend to have lower indices of domestic violence.

Editorial work and publications

Francesca Bettio is author or co-author of more than 70 publications, including articles, books and research monographs. Five are listed below.

(2018) Bettio F, Ticci E, Betti G. A fuzzy set approach to measuring violence against women and its severity. GLO Discussion Papers, 171.

(2017) Bettio F, Della Giusta M, Di Tommaso ML. Sex Work and Trafficking. Moving beyond Dichotomies. Feminist Economics, 23 (3).

(2013) Bettio F, Tinios P. The Gender Gap In Pensions. Publications Office of the European Union, Luxembourg.

(2013) Bettio F, Corsi M, D'Ippoliti C, Lyberaki A, Samek Lodovici M, Verashchagina A. The Impact of the Economic Crisis on the Situation of Women and Men and on Gender Equality Policies. Publications Office of the European Union, Luxembourg.

(2010) Bettio F, Kanti Nandi T. Evidence on Women Trafficked for Sexual Exploitation. A Rights-Based Approach. European Journal of Law and Economics, 29 (1).

(2009) Bettio F, Di Tommaso ML, Shima I, Strom S. As Bad as It Gets. Well-Being Deprivation of Sexually Exploited Trafficked Women. European Journal of Political Economy, 25 (2).

(2009) Bettio F, Verashchagina A. Gender Segregation in the Labour Market: Root Causes, Implications and Policy Responses in the EU. Publications Office of the European Union, Luxembourg.

(2006) Bettio F, Villa P,  Simonazzi A Change in Care Regimes and Female Migration. Journal of European Social Policy, 16 (3).

(2004) Bettio F, Plantenga J. Comparing Care Regimes in Europe. Feminist Economics, 10 (1).

(1998) Bettio F, Villa P. A Mediterranean Perspective on the Break-Down of the Relationship between Participation and Fertility. Cambridge Journal of Economics, 22 (2).

(1988) Bettio F. The Sexual Division of Labour, Clarendon Press, Oxford.

 

 

 

Magda Bianco
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Economy and Finance area

Competences: consumer protection, finance, regulation

Keywords: ADR (Alternative Dispute Resolutions), finance, financial education, gender, governance, institutions, justice, protection

Region: Lazio


Position/Role

Head of the Bank of Italy's Customer Protection and Anti-Money Laundering Service

Professional career

After graduating in Economics and Commerce at the University of Bergamo in 1985, she continued her education with a master's and doctorate in Economics at the London School of Economics. In 1989 she joined the Research Department of the Bank of Italy, where she worked until 1999 in the Sectoral and Territorial Analysis Offices and then Flows and Financial Structures (which she has held since 1997); then, since 1999, in the new unit of Economic Law, which she has managed since 2007. Since 2014 she has been the Head of the Customer Protection and Anti-Money Laundering Service, created that year within the Banking Supervision. During the course she taught at the University of Bergamo and Tor Vergata, she was a visiting fellow at Harvard University and Economic Councilor of the Minister of Justice.

Scientific results

The research activity has followed the professional path. In the early years it concerned issues of industrial economics, aimed at analyzing the Italian productive structure. A series of works, started with a joint research group Banca d’Italia - Consob - other researchers, was then dedicated to building original information and analyzing the governance of Italian companies and banks; some reform proposals have emerged. A third area concerned regulation and the role of institutions. The in-depth analyzes and analyzes in particular in the field of civil justice - carried out also with other researchers of the Bank of Italy - were the basis for identifying (and in some cases dealing with) different criticalities of the system. The coordination of an extensive research project on the role of women in the Italian economy (with over 20 contributions by researchers) provided original analysis on the situation in Italy, the causes and possible policy responses. Finally, recently, the analyzes and interventions concern the subjects covered by the institutional role: the protection of banking customers, financial education, anti-money laundering, and have resulted in an increasingly targeted supervisory activity.

Editorial work and publications

Her main publications are:

Le principali pubblicazioni di Magda Bianco sono:

(2017)L’arbitro bancario finanziario a sette anni dalla nascita, in R. Lener, A. Pozzolo (a cura di) I metodi alternativi di risoluzione delle controversie (ADR), I quaderni di Minerva Bancaria, settembre 2017.

(2013) Bianco M, Lotti F, Zizza R. Le donne e l’economia italiana. Questioni di economia e finanza, Banca d’Italia, n. 171.

(2012) Bianco M, Napolitano G.The Italian administrative system. A source of competitive disadvantage, in (a cura di G. Toniolo), Handbook of the Italian Economy since Unification, Oxford University Press.

(2012) Bianco M, Ciavarella A, Signoretti R, Women on boards in Italy. Rivista di politica economica, Apr/June 2012.

(2011) Bianco M, Golinelli R, Parigi G. Family firms’ investments, uncertainty and opacity. Small Business Economics.

(2010) Bianco M, Sestito P. I servizi pubblici locali. Liberalizzazioni, regolazione, sviluppo industriale, Il Mulino, Bologna.

(2007) Bianco M. La durata (eccessiva) dei procedimenti civili in Italia: offerta, domanda o rito? Rivista di politica economica, Sept/Oct 2007.

(2006) Bianco M, Bianchhi M. Italian corporate governance in the last 15 years: from pyramids to coalitions? ECGI WP n. 144.

(2006) Bianco M., Nicodano G. Pyramidal Groups and Debt. European Economic Review.

(2005) Bianco M, Bianchi M, Giacomelli S, Pacces A, Trento S. Proprietà e controllo delle imprese in Italia. Il Mulino, Bologna.

(2005) Bianco M, Pagano M, Jappelli T. Courts and Banks: Effects of Judicial Enforcement on Credit Markets. Journal of Money, Credit and Banking.

(2003) Bianco M. L’industria italiana Il Mulino, Bologna.

Awards and prizes

Magda Bianco is a member of the Financial Consumer Protection Network (FinCoNet) and its Advisory Board, of the International Network for Financial Education of the OECD, of the Committee for the promotion and coordination of financial education activities. She is a consultant for the economic policies of the President of the Republic. He received the honor of Knight of the Order "To the Merit of the Italian Republic" and the Minerva Anna Maria Mammoliti Award to the economy in 2013. She is president of the Equal Opportunities Commission of the Bank of Italy.

Monica Billio
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Economy and Finance area

Competences: financial macroeconometrics

Keywords:

Region: Veneto


Position/Role

Full professor of Econometrics and Head of the Department of Economics of Ca’ Foscari University of Venice

Professional career

She holds a PhD in Applied Mathematics at the University Paris Dauphine. She held visiting research positions at Ecole Normale Supérieur de Cachan, University Paris Dauphine, University Paris 1 Pantheon Sorbonne, University of Orleans and Bank of France.

Scientific results

Prof. Billio has published more than 100 technical papers in refereed journals, handbooks, and conference proceedings in the areas of econometrics and financial econometrics, with applications to risk measurement, volatility modelling, financial crisis and systemic risk. She is participating to many research projects financed by the European Commission, Eurostat and the Italian Ministry of Research (MIUR). She has been scientific co-coordinator of the SYRTO project, EU-FP7 project devoted to systemic risk measurement (http://syrtoproject.eu) and she is now local coordinator of two H2020-EE-CSA project on Energy Efficiency (EeMAP and EeDaPP, http://energyefficientmortgages.eu).

Editorial work and publications

 

The results of these and other research projects have appeared in peer-refereed journals, including:

(2018 forthcoming) Billio M., R. Casarin, L. Rossini, Bayesian nonparametric sparse VAR models. Journal of Econometrics.

(2018 forthcoming) Bianchi D, Billio M, Casarin R e Guidolin M. Modeling Systemic Risk with Markov Switching Graphical SUR Models. Journal of Econometrics.

(2017) Billio M, Donadelli M, Paradiso A e Riedel M. Which Market Integration Measure? Journal of Banking and Finance, 76: 150–174.

(2016) Billio M, Pelizzon L e Savona R. Systemic Risk Tomography: Signals, Measurement and Transmission Channels. ISTE-Elsevier

(2016) Billio M, Casarin R, Ravazzolo F e van Dijk HK, Interconnections between Eurozone and US booms and busts using a Bayesian Panel Markov-Switching VAR model. Journal of Applied Econometrics, 31/7:1352-1370.

(2016) Ahelegbey DF, Billio M e Casarin R. Bayesian Graphical Models for Structural Vector Autoregressive Processes. Journal of Applied Econometrics, 31:357-386.

(2013) Merton RC, Billio M, Getmansky M, Gray D, Lo AW and Pelizzon L. On a New Approach for Analyzing and Managing Macrofinancial Risks. Financial Analysts Journal, 69/2:22-33.

(2013) Billio M, Casarin R,Ravazzolo F e van Dijk HK. Time-varying Combinations of Predictive Densities using Nonlinear Filtering. Journal of Econometrics, 177/2:213-232.

(2012) Billio M, Getmansky M, Lo AW e Pelizzon L. Econometric Measures of Connectedness and Systemic Risk in the Finance and Insurance Sectors. Journal of Financial Economics, 104:535-559.

Awards and prizes

Prof. Billio is regularly on the program committees of the major international conferences and workshops of her fields (ESEM, ICEEE, CFE, EFMA, EC2, CREDIT) and serves on the editorial board for the journal Computational Statistics and Data Analysis and Econometrics and Statistics. She is currently member of the Board of Directors of the European Financial Management Association (EFMA) and member of the Scientific Committee of the Italian Association Financial Industry Risk Managers (AIFIRM). Her joint paper with M. Getmansky, A.W. Lo and L. Pelizzon, Econometric Measures of Connectedness and Systemic Risk in the Finance and Insurance Sectors, Journal of Financial Economics, 104, 2012 (535-559) has been recognised as the “most influential article published in leading journals of the Elsevier’s Finance portfolio” for the period 2010-2015.

Giovanna Boggio Robutti
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Economy and Finance area

Competences: civil economics, debt, electronic payments, entrepreneurship, family budget, financial education, planning, saving, social security

Keywords: cultural mediation, simplicity

Region: Lazio


Position/Role

General Director of FEduF (Foundation for financial education and savings)

Professional career

After studying at the Polytechnic School of Design in Milan, at the time of talents of the caliber of Bruno Munari and other great masters of design, she began her professional career at MKT Italia, a company set up by Fiat and Mondadori in 1983 to develop the sponsorship market, still little present in Italy. During the eighties she worked in the communication sector of small and large companies such as CBO, Dow Chemical in Italy, Waste Management Italy, Lepetit, Hoechst Marion Roussel. In 1997 she started her career as head of communications at Zurich in Italy. Five years later, she joined PattiChiari, a consortium of Italian banks that aims to promote a better bank-customer relationship, inspired by the principles of simplicity and clarity of information, mobility of services and customer assistance, where she began her experience in the area of ​​economics, through financial education. In 2010, the PattiChiari Consortium set up an office dedicated only to financial education and, in 2014, the Italian Banking Association decided to set up a Foundation dedicated exclusively to spreading economic culture and savings in Italy: the FEduF (Education Foundation) financial and savings). Giovanna Boggio Robutti was called to direct it.

Scientific results

Giovanna Boggio Robutti started working in economics and finance with PattiChiari, the project born in 2003 following the work, started at the end of 2000 by the ABI Executive Committee, on the subject of the relationship between banks and companies, with the aim of changing banking operations to concretely improve the relationship between banks and society (businesses, families, employees, etc.) in the key aspects of trust, fairness, transparency and efficiency. In particular, since 2006, she has been involved in financial education, first adopting the program dedicated to middle schools of an American-based association also active in Italy, then developing a national program for schools of all grades. She currently deals with financial education issues working between Rome and Milan alongside national institutions (first and foremost the Ministry of Education) and public and private territorial institutions. Thanks to the network of banks, which support FEduF financially and operationally, the Foundation that Giovanna Boggio Robutti directs is able to make its programs and activities available throughout the national territory, free of charge to citizens and institutions.

 

 

Paola Bonomo
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Economy and Finance area

Competences: corporate governance, digital transformation

Keywords: business angels, corporate governance, digital transformation, fintech, innovation, startup, technology

Region: Lombardy


Position/Role

Non Executive Director, advisor, investor

Professional career

Paola earned her undergraduate degree AT Bocconi University and started her career at McKinsey & Company. After earning an MBA at the Stanford Graduate School of Business, she returned to McKinsey, where she advised large domestic and international companies on strategic positioning, growth, new markets, alliances and acquisitions, and reached the rank of Partner. She then worked in leadership roles in the digital domain such as Senior Director, European Operations at eBay International; Head of Online Business Unit at Il Sole 24 Ore; Head of Online Services, Commercial Operations at Vodafone Italia; and Regional Director, Southern Europe at Facebook.

Since 2009 she has been a member of the leading business angels group in Italy, Italian Angels for Growth, where she was a member of the Board and she focuses on investments in the digital space.

She serves on the Board of Telecom Italia S.p.A., AXA Assicurazioni S.p.A., Piquadro S.p.A., Sisal Group S.p.A., Stefanel S.p.A. and FAAC S.p.A., and on the Advisory Board of two fintech companies: MoneyFarm Ltd. and Euklid Ltd.. She is the Chair of Stanford Club Italia, the local alumni chapter of the Stanford Alumni Association.

She is an evaluator for Horizon 2020, and serves on the jury of the EU Prize for Women Innovators.

Scientific results

Paola Bonomo is one the pioneers of the digital economy in Italy. In her management roles, she mastered the key themes of digital marketing and ecommerce: the optimization of traffic and customer acquisition costs, of conversion rates and ROI, of customer lifetime value vs. acquisition cost, particularly in multichannel and omnichannel distribution. Recently, she has studied attribution models in programmatic advertising and new trends in video advertising. She has also worked on product innovation and monetization in digital publishing, as well as customer support improvement through digital channels in telecommunications. She leverages her managerial expertise in her angel investing activities; among her most successful early stage investments was AdEspresso, bought by Hootsuite in December 2016.

In her Non Executive Director roles she acts as a “Digital Director”, i.e. a member of the Board who oversees the company’s digital and/or multichannel transformation, and who informs and guides the other Board members in creating a common language and understanding of strategic priorities on such topics as the emergence of Fintech, the opportunities from AI, and the blockchain.

Editorial work and publications

(March 2018) Enough with Gender Stereotypes, LVMH Dare event; Citigroup #PressforProgress

(Nov. 2017) Technologies and Us (keynote), Salone dei Pagamenti.

(Nov. 2017) Technologies and Us, Linklaters EU Partners Meeting.

(Oct. 2017) Enough with Gender Stereotypes, TEDx Verona.

(Oct. 2017) Fintech, disruption and new ecosystems in the payments market, Mastercard Innovation Forum.

(Oct. 2017) Funding Strategies for Your HR Tech Startup, HRTech Amsterdam.

(Dec. 2016) Will one-to-one marketing save marketing?, Ambrosetti Babylon.

(June 2016) Digital Disruption, guest speaker at the course “Media and Internet”, INSEAD.

Awards and prizes

In 2017 Paola was recognized with the Business Angel of the year award in Italy and the Golden Aurora award for the best woman business angel in Europe.

In 2015 and again in 2016, she was recognized as one of the Inspiring Fifty, the fifty most inspiring women in European Technology. In 2018 she organized the first Italian edition of Inspiring Fifty.

In 2015 she was awarded the TIAW World of Difference 100 Award.

In 2013 she received the Stanford Associates Volunteer Service Award for alumni who have demonstrated significant and long-standing volunteer service to Stanford University.

Valentina Bosetti
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Economy and Finance area

Competences: economics of climate change, environmental economy

Keywords: adaptation, mitigation of greenhouse gas emissions

Region: Lombardy


Position/Role

Full Professor

Professional career

She has a degree in environmental sciences, a master's degree in environmental economics (University College London), and a PhD in computational mathematics and operational research (University of Milan). In 2008/2009 she was a visiting scholar at the Princeton Environmental Institute. In 2014/2015 she was a Fellow at CASBS, Stanford. She is Professor of Environmental Economics and Economics of Climate Change, Bocconi University. She is also a researcher at the Enrico Mattei Foundation and the Euro-Mediterranean Center on Climate Change.

Scientific results

She was Lead Author of the Fifth Report of the IPCC (2014) and she will be lead author of the Sixth IPCC Report.

 

Editorial work and publications

She is in the editorial board of Nature - Energy newspapers, Energy Policy, Review of Environmental Economics and Policy (REEP).

 

Verdolini, E., L. D. Anadón, E. Baker, V. Bosetti, L. A. Reis, (2018), 'The Future Prospects of Energy Technologies: Insights from Expert Elicitations', REEP Forthcoming

Rao, N., van Ruijven, B., Riahi, K, and Bosetti, V., (2017), Improving poverty and inequality modeling in climate research, Nature Climate Change, doi:10.1038/s41558-017-0004-x

Cattaneo, Cristina and Valentina Bosetti (2017) Climate-induced International Migration and Conflicts, CESifo Economic Studies, ifx010, https://doi.org/10.1093/cesifo/ifx010 Published:08 September 2017

Diaz Anadon, L., E. Baker, V. Bosetti (2017) Integrating uncertainty into public energy research and development decisions, Nature Energy 2, 17071  | DOI: 10.1038/nenergy.2017.71 |

Adler, M, D Anthoff, V Bosetti, G Garner, K Keller, and N Treich, (2017), Priority For The Worse Off And The Social Cost Of Carbon, Nature Climate Change, DOI: 10.1038/nclimate3298

Matthew R. Sisco, Valentina Bosetti, Elke U. Weber (2017), When do extreme weather events generate attention to climate change?, forthcoming Climatic Change, DOI: 10.1007/s10584-017-1984-2

Bosetti, V., E. Weber, L. Berger, D. Budescu, N. Liu, M. Tavoni (2017) COP21 Climate Negotiators’ Responses to Climate Model Forecasts, Nature Climate Change, 7, 185-189, DOI: 10.1038/NCLIMATE3208

Marangoni, G. M. Tavoni, V. Bosetti, E. Borgonovo, et al. (2017) Sensitivity of projected long-term CO2 emissions across the Shared Socio-economic Pathways, Nature Climate Change, 7, 113–117

Awards and prizes

She obtained two scholarships from the European Research Council: RISICO "RISK and uncertainty in developing and implementing climate change pOlicies" and ICARUS "Innovation for climate in mitigation:  a study of energy R&D, its effectiveness and spillovers". She was also a fellow at the Center for Advanced Studies in Behavioral Sciences, (CASBS), Stanford.

 

Laura Bottazzi
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Economy and Finance area

Competences: financial economy, political economy

Keywords: crowfunding, innovation, real effects of financial crisis, venture capital

Region: Emilia-Romagna


Position/Role

Full Professor of Economics and Finance and research fellow IGIER, Bocconi. Head of a Master

Program in Economics (EPELM), at the University of Bologna

 

Professional career

Graduated in Economics and Social Science (DES) at Bocconi University in 1987, she has been

awarded a PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1992. Since 2005, Professor of Economics at Bologna University. She has been visiting professor at University College of London, the London School of Economics, the Massachusetts Institute of, the Université Libre de Bruxelles, and visiting researcher at the National Bureau of Economic Research (NBER) and the World Bank (capital markets group).  She is non‐residence fellow at IGIER‐Bocconi. She was part of the Group of Experts for the Evaluation of the Quality of Research of the Italian Universities, year 2004‐2010, conducted by the Italian National Agency for Evaluation of the University System (ANVUR) and she has been evaluator of the Research Projects for the Austrian, the Canadian, the Israeli Ministry of Research and the UK Research Council.

 

Scientific results

The research activity of Laura Bottazzi takes place in the field of political economy and financial economics, focussing on the economics of innovation and its financing. In this context, she has studied the geographical diffusion of innovation and its determinants. Her research has also focussed on the analysis of Venture Capital and Crowdfunding. She has been promoter with two colleagues of the first Venture Capital survey in Europe and analyzed their investment methods and types of contracts, according to the institutional and legal characteristics of the European countries and the professional and cultural specialization of investors. Recently she has been interested in the determinants of financial literacy and the determinants of gender differences in the acquisition of such knowledge. The global financial crisis has been the object of his research to study the real effects of financial shocks.

Editorial work and publications

(2016) Bottazzi L, Hellmann T, Da Rin M. The Importance of Trust for Investment: Evidence from Venture Capital. Review of Financial Studies and Nasdaq Award for best paper on Capital Formation 2006

(2014) Bottazzi L. Underpricing and Voluntary Disclosure: The Case of Mining IPOs in Australia”.

International Journal of Economics, 1: 65‐77, ISSN: 2331‐5903

(2014) Bottazzi L, Girshina A. The aftermath of the financial crisis. The effect of deleveraging on thereal economy GSTF Journal of Business Review, 3:17‐22, ISSN: 2010‐4804, doi: 10.5176/2251‐ 2012_QQE14.13

(2009) Bottazzi L, Hellmann T, Da Rin M. What Role of Legal Systems in Financial Intermediation? Theory and Evidence. Journal of Financial Intermediation, 18 (3): 559‐598, October

(2008) Bottazzi L, Hellmann T, Da Rin M. Who are the active investors? Evidence from Venture Capital. Journal of Financial Economics, 89, issue 3, September

(2007) Bottazzi L, Peri G.The Dynamics of R&D and Innovation in the Short Run and in the Long Run. Mimeo University of California, Davis, Economic Journal, Royal Economic Society, 117(518):486‐511,03.

(2005) Bottazzi L, Da Rin M.Financing European Entrepreneurial Firms: Facts, Issues and Research Agenda. in Venture Capital, Entrepreneurial and Public Policy, MIT Press, (eds. Vesa Kannanien CESIfo)

(2004) Bottazzi L. The Changing Face of the European Venture Capital Industry: Facts and Analysis. Journal of Private Equity, 7(2) Spring 26‐53

(2003) Bottazzi L. Asymmetric Information and Monetary Policy in Common Currency Areas. Journalof Money, Credit and Banking, Blackwell Publishing, vol. 37(4), pages 603‐21, August.

(2002) Bottazzi L, Manassi P. Credibility and Seignorage in a Common Currency Area. Journal of Money Credit and Banking,34, 4

(2003) Bottazzi L, Peri G. Innovation and Spillovers in Regions: Evidence from European Patent Data. European Economic Review, 47(4):687‐710

(2002) Bottazzi L, Da Rin M. Venture Capital in Europe: Euro.nm and the Financing of European Innovative Firms. ECONOMIC POLICY, 34:229‐69

(2001) Bottazzi L. Globalization and Local Proximity in Innovation: A Dynamic Process. European Economic Review, 45, 4‐6

(1996) Bottazzi L, Pesenti P., van Wincoop E. Wages, Profits and the International Portfolio Puzzle. European Economic Review, 2, 40

Awards and prizes

Laura Bottazzi is a non‐resident fellow of IGIER, Bocconi and affiliated to the European Economic Association, a Fellow of the Fondation Banque de France, a Member of the American Economic Association, a Member of American Women in Economics, a Member of the American Women in Finance. She has been awarded the Hicks‐Tinbergen medal in Economics and the Nasdaq Prize for the best paper on capital formation.

Marina Brogi
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Economy and Finance area

Competences: banks, capital market, corporate governance, cybersecurity, financial market

Keywords: bank management, capital market, corporate governance, disclosure, financial intermediaries, transparency

Region: Lazio


Position/Role

Full Professor of International Banking and Capital Markets, Sapienza University of Rome

Professional career

She graduated in Economics at Bocconi University, Milan, with supervisor Prof. Tancredi Bianchi. From 2007 she teaches International Banking and Capital Markets at Sapienza Università di Roma. Chairperson of the Scientific Committee of the Italian Financial Risk Managers Association (AIFIRM). She serves on the Scientific Committee of the Research Centre of Confindustria (Italy’s Industrial Association). She is invited to present her Expert opinion to public hearings of Commissions of the Italian Senate and of the Italian Camera (Italy’s lower house).

From 2012 she has been appointed by the Bank of Italy in the governance bodies of banks and other intermediaries in liquidation. From 2011 to 2017 she served as Deputy Dean, Faculty of Economics Sapienza Università di Roma. From 2014 to 2016 she was one of the 5 top-ranking independent academics appointed among the 30 members which make up the Securities and Markets Stakeholder Group of the European Securities and Markets Authority (ESMA) as provided for in article 37 of the ESMA Regulation (1095/2010/EU). From 2008 she serves on the boards of listed and privately held companies. 

She currently serves on the Boards of Banco Desio e della Brianza, Mediaset and Salini Impregilo. She is member of the MSCI Thought Leadership Council on Corporate Governance Fundamentals and is the only European Advisory Board Member of the Women Corporate Directors (WCD) Foundation, the International think tank founded in the US that counts over 3,500 women, chairpersons and independent board members, serving on over 8,500 boards across six continents, Global Co-Chair of the WCD Family Business Council, Co-Chair of the Italian Chapter.

Scientific results

She is Program Chair of the ‘2019 New Frontiers in Banking conference: From Corporate Governance to Risk Management’, promoted by Sapienza, Bocconi University and Review of Financial Studies, Key note address Bengt Holmstrom, Nobel Laurete in Economics 2016. Program Chair of ‘2018 New Frontiers in Banking conference: From Corporate Governance to Risk Management’, promoted by Sapienza, Bocconi University and Review of Financial Studies, Key note address Jean Tirole, Nobel Laurete in Economics 2014

Program Chair of ‘2017 Bank Systemic Risk Measurement and Mitigation conference’, promoted by Sapienza, Bocconi University and Review of Financial Studies, Key note address Robert Engle, Nobel Laurete in Economics 2003.

Editorial work and publications

She is the author of numerous publications on corporate governance, banking and capital markets and is often invited as speaker at international academic and business community conferences. Last publications:

-        Do bank boards matter? A literature review on the characteristics of banks' Board of Directors, with Lagasio V., International Journal of Business Governance and Ethics. Forthcoming

-        Lights in the shadows: exploring the need for regulation in shadow banking, with Lagasio V., International Journal of Applied Decision Sciences. Forthcoming.

-        The Courage to Choose! Primogeniture and Leadership Succession in Family Firms, with Calabrò A. e Minichilli A. and Amore M. D., Strategic Management Journal, 2018, p. 1 - 22

-        Environmental, Social and Governance, and profitability: are financial intermediaries different? with Lagasio V., Corporate Social Responsibility and Environmental Management. 2018, p. 1 – 12

-        Is the market swayed by press releases on Corporate Governance? Event study on the Eurostoxx Banks, with Lagasio V., Corporate Ownership and Control. 2018, vol. 15, p. 23 - 31

-        The Effect of Cyber Attacks on Stock Returns, with Arcuri M.C. and Gandolfi G., Corporate Ownership and Control, 2018, p. 70 - 83

-        Rischio cibernetico e sicurezza nazionale nel sistema finanziario, in AA. VV. Sicurezza è Libertà, Gnosis, dicembre 2017, p. 145 - 151

-        Cyber Risk: A Big Challenge in Developed and Emerging Markets, with Arcuri M.C. and Gandolfi G., Identity Theft: Breakthroughs in Research and Practice, IGI Global, 2017, p. 292 - 307

-        SME sources of funding: more capital or more debt to sustain growth? An empirical analysis, with Lagasio V. in (edited by) Rossi S., Palgrave Macmillan Studies in Banking and Financial Institutions, 2017, p. 173 - 199

-        Sliced and diced: European banks’ business models and profitability, with Lagasio V., in (edited by) Bracchi, G., Filotto, U., Masciandaro, D., 2016 Report on the Italian Financial System, Fondazione Rosselli, Edibank, Milano, 2016, p. 55 - 82

-        Corporate Governance, Pixel, EGEA, Milano, 2016, p. 1 - 200

-        Weathering the storm: family ownership, governance and performance through the financial and economic crisis, with Minichilli A. and Calabrò A., Corporate Governance: An International Review, (Impact Factor: 2.169), 2016, p. 552 - 568

-        What does really matter in the internationalization of small and medium-sized family businesses?, with Calabrò A. and  Torchia M., Journal of Small Business Management, (Impact Factor: 1.937), 2016, p. 679 - 696

-        Shadow banking, banking union and capital markets union, Law and Economic Review, n. 2, 2014, p. 383 - 400

-        Le politiche di remunerazione nel sistema di corporate governance, Analisi Giuridica dell'Economia, n. 2, 2014, p. 275 - 293

-        Le politiche di remunerazione tra regolamentazione e say on pay: un'analisi empirica delle banche e delle maggiori società quotate italiane, with Langone R., Banche e Banchieri, n. 4, 2014, p. 467 - 488

-          Board, governance and firm performance: are financial intermediaries different?, Corporate Ownership and Control, n. 8, 2011, p. 60 - 68

Agar Brugiavini
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Economy and Finance area

Competences: insurance markets, pension funds, pension reforms

Keywords: consumption, gender economy, pension, saving, welfare

Region: Veneto


Position/Role

Full Professor of Political Economy at the Ca ’Foscari University of Venice and Director of the Ca’ Foscari International College.

Professional career

After graduating in Statistical and Demographic Sciences at the Sapienza University of Rome and a PhD (Ph.D.) in Economics from the London School of Economics (UK) under the supervision of Prof. Mervyn King, she began her academic career at the London School of Economics as a Teaching Assistant and Research Assistant. From 1989 to 1991 she was Permanent Lecturer in "Economics and Finance" at the City University Business School in London (UK). In 1991 she returned to Italy, to the Ca ’Foscari University, as a researcher. With a parantesi, in 1997-98, for a year in the United States as a visiting scholar at Northwestern University with a Fulbright scholarship. In 2004 she became Full Professor at the Ca ’Foscari University. In addition to holding the chair in Political Economy, she holds various academic positions in Italy and abroad: she is Research Affiliate of the Institute for Fiscal Studies-IFS of London, she participates in the Scientific Committees of various institutions, in particular she is President of the Scientific Committee of Max Planck Institute that studies Social Security and Insurance Forms in Munich, Germany. She was Director of the Venice International University - San Servolo Island, Venice - from 2011 to 2016. She is also Director of the CINTIA Research Center (Netspar Italy Interuniversity Center https://cintia-italy.it/) dedicated to the study on impact of aging on the economic system both at the level of economic policies and markets. In her work at Ca ’Foscari she was Vice Rector for educational activities.

Scientific results

Her research interests include individual and family behavior for consumer spending and for savings, pensions and labor participation, welfare and the gender economy. She has dealt extensively with pension reforms, pension funds and insurance markets. She plays a key role in the European project SHARE (Survey of Health Aging and Retirement in Europe http://venus.unive.it/share/) thanks to her knowledge in the area of the Economy of Aging, which studies the relationship between the different socio-economic dimensions of the aging population in Europe and the impact on the markets (labor market, insurance market and capital market).

Editorial work and publications

Agar Brugiavini was co-editor of the scientific journal Research in Economics and is currently part of the Editorial Committee of the Journal of Pension Economics and Finance. She has published numerous articles and contributed to the drafting of various volumes, in particular with the National Bureau of Economic Research (NBER-USA) for the project "Social Security around the World". She has also written several popular articles on public policies.


Some recent publications in the various study areas:

(2015) Brugiavini A, Cavapozzi D, Padula M, Pettinicchi  Y. Financial Education, Literacy and Investment Attitudes, Netspar Discussion paper n. 6/2015.

 

(2015) Atella V, Brugiavini A, Pace N. The health care system reform in China: Effects on out-of-pocket expenses and saving. China Economic Review, vol. 1 , ISSN: 1043-951X, p. 1-14.

 

(2013) Brugiavini A, Buia RE, Pasini G, Zantomio F. Long-term care and reciprocity: does helping with grandchildren result in the receipt of more help at older ages?in Börsch-Supan A et al. “Active ageing and solidarity between generations in Europe”, De Gruyter, Berlin, Germany.

(2013) Brugiavini A, Gomel G, Marconi D, Musu D, Quintieri B (eds). Urban and Rural Household Savings in China: Determinants and Policy Implications, in Brugiavini A, Weber F, Wu B,“The Chinese Economy, Recent Trends and Policy Issues”, Springer, Berlin, Germany, pp: 137-162, ISBN 9783642286377.

 

(2012) Brugiavini A, Peracchi F. Health Status, Welfare Programs Participation and Labor Force Activity in Italy, in:  Wise D (ed.), “Historical Trends in Mortality and Health, Employment, and Disability Insurance Participation and Reforms”, The University of Chicago Press, ISBN 9780226903095, pp.  175-216.

 

(2011) Brugiavini A, Pasini G, Trevisan E. Maternity and Labour Market Outcome: Short and Long Term Effects in : Borsch-Supan A,  Brandt M, Hank K e Schroder M(eds.) “The Individual and the Welfare State. Life Histories in Europe”, Springer, Heidelberg, Germany, ISBN 9783642174711, pp.151-159.

 

(2010) Brugiavini A, Jappelli T.Verso un nuovo sistema di architettura sociale per la famiglia,Il Mulino,Bologna

(2009) Angelini V., Brugiavini A, Weber G.Ageing and Unused Capacity in Europe: Is There an Early Retirement Trap?  Economic Policy 59, p.463-508.

 

(2009) Brugiavini A, Boeri T. Pension Reforms and Women Retirement Plans (2009),  Journal of Population Ageing, Volume 1, Issue 1, p. 7-30.

 

(2008) Brugiavini A. Exits from the Labour Force,  in  A. Borsch-Supan A, Brugiavini  A et al.  “Health, Ageing and Retirement in Europe (2004-2007),  Starting  the Longitudinal Dimension”, pp. 204-212.

 

 

 

 

Michela Carlana
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Economy and Finance area

Competences: labor economics, public policies evaluation

Keywords: discrimination, education, gender, immigration, stereotypes

Region: ABROAD


Position/Role

PhD Candidate, Bocconi University

Professional career

After graduating in Economics and Commerce at the University of Padua in 2012, she continued her education with a PhD in Economics from Bocconi University. In 2011-12 she was a visiting student at the University of California in Los Angeles, in 2015-16 visiting scholar at Harvard University and in 2016-17 Marie-Curie PODER Fellow at IIES-Stockholm University in 2016-17. Researcher affiliated with the IZA (Institute of Labor Economics) in Bonn and Bocconi-LEAP (Laboratory for Effective Anti-Poverty Policies) in Milan, will discuss the doctoral thesis in May 2018.

Scientific results

The research activity of Michela Carlana takes place in the field of labor economics, with attention to choices related to the accumulation of human capital. In particular, she studied the influence of gender stereotypes of teachers on math performance, education choices and female students' self-esteem. Another of her research strands deals with immigration issues. She assessed the impact of the "Equal Opportunities" project, financed by some Italian banking foundations and supported by the Ministry of Education. The intervention aimed to provide support in the orientation to the choice of high school for immigrant students and had a positive impact both on the choice of the school path and on cognitive and soft skills outcomes, such as motivation and perception of social barriers. Michela is also concerned with analyzing how exposure to migratory waves influences family education and employment choices of the natives, using historical data from the US census at the beginning of the twentieth century.

Editorial work and publications

She is the author of the following articles:

(2017) Carlana M. Stereotypes and Self-Stereotypes: Evidence from Teachers’ Gender Bias. Mimeo, Bocconi University.

(2017) Carlana M, La Ferrara E, Pinotti P. Goals and Gaps: Educational Careers of Immigrant Children. CEPR Discussion Paper No. DP12538. SSRN: https://ssrn.com/abstract=3095588

(2017) Carlana M, Tabellini M, Happily Ever After: Immigration, Natives’ Marriage, and Fertility. Working Paper.

Awards and prizes

Michela Carlana won the Best JM Paper Award (UniCredit & Universities - 4th Edition), the 2017 Tarantelli Young Labor Economist Award, the 2017 Best Presentation Award (Unicredit & Universities) and the Bocconi PhD Award 2015 (for productivity in high-quality research). In 2016-17 she won the PODER Marie Curie Experienced Researcher Fellowship.

Elena Carletti
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Economy and Finance area

Competences: financial intermediaries, financial regulation

Keywords: central bank, financial crisis, investments, prudential regulation, risk, supervisory authority

Region: Lombardy


Position/Role

Full Professor of Finance at the Finance Department of the "Luigi Bocconi" Commercial University. Director of the Banking, Finance and Regulation division at the Baffi Carefin Center for Applied Research center of the same university
Scientific Director and founder of the "Florence School of Banking and Finance" at the European University Institute.

Professional career

After obtaining a degree in Political Economy in 1993 and a Masters in Economics (obtaining distinction and recognition as the best student) the following year at the Bocconi Commercial University, she continued her education with a PhD in Economics at the London School of Economics (UK). From 2000 to 2004 she was assistant professor at the University of Mannheim (DE), from 2004 to 2008 she was senior researcher and then associate professor at the Goethe University of Frankfurt (DE), and from 2008 to 2013 she was professor of economics at the European University Institute in Fiesole. Since 2013 she has been Professor of Finance at Bocconi University. She has been a consultant to numerous institutions such as the World Bank, the Irish and Swedish Central Banks and the OECD. She was a member of the Scientific Committee of Confindustria, from 2014 to 2016, and of the Evaluation Committee for the creation of research centers on financial markets in Sweden. Now she is a member of the Scientific Committee of the European Systemic Risk Board (ESRB) at the European Central Bank and a member of the Group of Experts on banking supervision for the European Parliament.

Scientific results

Elena Carletti's research activity is mainly carried out in the field of financial intermediation and financial crises, with attention to the effects on the real economy and the consequences in terms of financial regulation. In this context, she studied in depth the determinants and consequences of systemic risk in the financial system. For example, in a series of recent works she has analyzed how the liquidity risk to which banks are subject generates volatility in the prices of financial assets and how this volatility affects the stability of the intermediaries themselves. She also contributed to the analysis of the interbank market and capital regulation as a means of stabilizing the banking system. Another of her research lines focuses instead on the relationship between accounting rules and prudential regulation.

Editorial work and publications

She is the author of numerous publications, among which the most important are:

(in corso di stampa) Carletti E, Leonello A. Credit Market Competition and Liquidity Crises. Review of Finance.

(2015) Allen F, Carletti E, Marquez R. Deposits and Bank Capital Structure. Journal of Financial Economics, 118(3):601-619.

(2015) Allen F, Carletti E, Marquez R. Stakeholder Governance, Competition, and Firm Value. Review of Finance, 19 (3):1315-1346.

(2014) Allen F, Carletti E, Gale D. Money, Financial Stability and Efficiency. Journal of Economic Theory, 149:100-127.

(2013) Allen F, Carletti E. What’s Systemic Risk? Journal of Money, Credit and Banking, 45(1):121-127.

(2012) Allen F, Babus A, Carletti E. Asset Commonality, Debt Maturity and Systemic Risk. Journal of Financial Economics, 104(3): 519-534.

(2011) Allen F, Carletti E, Marquez R. Competition and Capital Regulation. Review of Financial Studies, 24(4):983–1018.

(2009) Allen F, Babus A, Carletti E. Financial Crises: Theory and Evidence. Annual Review of Financial Economics, 1:97–116.

(2009) Allen F, Carletti E, Gale D. Interbank Market Liquidity and Central Bank Intervention. Journal of Monetary Economics, 56(5):639–652.

(2008) Allen F, Carletti E. Mark-to-Market Accounting and Liquidity Pricing. Journal of Accounting and Economics, 45(2-3):358–378.

 

Awards and prizes

Elena Carletti is a fellow, among others, of the Center for Economic Policy Research (CEPR, London), the Wharton Financial Institutions Center (Philadelphia), the Finance Theory Group (USA) and IGIER (Milan). She is also a member of the scientific committee of the Bank of Italy for the "Paolo Baffi Lecture", of the Scientific Committee of Bruegel (Brussels) and a member of the editorial panel of the Economic Policy magazine. She is regularly invited to hold Keynote or Invited Lectures in international institutions such as the European Central Bank, the European Systemic Risk Board, the International Monetary Fund, the European Commission and the Bank of England, and to participate in policy panels at international conferences such as "The ECB and Its Watchers "(Frankfurt) or" First Annual ESRB Conference "(Frankfurt).

 

Antonia Carparelli
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Economy and Finance area

Competences: economic history, European affairs, European Union

Keywords: european economic governance, governance, inclusion, poverty, sustainable development

Region: Lazio


Professional career

Antonia Carparelli has an academic background in economics and in economic history. She joined the European Commission Civil Service in Brussels in 1993, where she covered positions of high responsibility, dealing with economic and monetary union, institutional reforms of the European Union, poverty and social inclusion, sustainable development and environmental economics. Before serving in the European institutions, she worked in Rome for several years (1987-93) as an economist and researcher, at the Central Institute of Statistics and at the Institute for the Study and Analysis of the Business Cycle. In 2012-13, she worked in the cabinet of the Minister for European Affairs, Enzo Moavero Milanesi, as a special advisor for economic matters. 

Since 2014 she is Senior Expert for Economic Affairs at the Representation in Italy of the
European Commission and holds a university course on the Governance of the European Unionat the LUMSA University in Rome. She is a member of various scientific committees and working groups on European issues and has authored various scientific and information articles that reflect the variety and extent of her professional commitments and interests.

Scientific results

In the years following her degree in economics, she carried out various research in
contemporary history of the Italian economy, and in particular in the field of industrial history in the first and second post-war period. At the Central Statistical Institute, she contributed to the development of the social protection accounts, within the framework of the National Accounting Department. At the Institute for the Study and Analysis of the Business Cycle, she worked on the role of monetary policy in the economic cycle and integrated monetary and financial variables and in macro-economic forecasting.

At the European Commission, she was mainly involved in the following areas
of activity, with original works that are reflected both in her individual publications and in her contribution to institutional reports and legislative proposals:

  • analysis of the of the Italian economy in view of Italy’s participation to Economic and Monetary Union;
  • development of the European strategy for sustainable development;
  • institutional reforms of the European Union before and after enlargement;
  • development of the social dimension of European social policies,
    particularly in the field of fighting poverty and social exclusion;
  • coordination of social protection systems;
  • coordination of European economic policies and reform of the EMU governance

Editorial work and publications

[2018] Carparelli A, Riforma delle Autorità Europee di Vigilanza: verso una nuova architettura della vigilanza europea? Rivista Bancaria, n. 4 (74):2-12.

[2017] Carparelli A, Prefazioneal volume Italica, l’Unificazione difficile tra ideali e realtà, di Tanzi V, Editore Schena, Fasano: 3-10.

 

[2017] Carparelli A, Il Semestre europeo per il coordinamento delle politiche economiche: evoluzione, bilanci e prospettive, inLe politiche europee e il ruolo delle Regioni dalla teoria alla pratica, a cura di Ciaffi A, Odone C, CINSEDO, Roma: 31-40,http://www.regioni.it/cms/file/SEMINARI/27/Atti_Seminari_Cinsedo_2016_Europa_291217.pdf.

[2015] Carparelli A, Cessione di sovranità e democrazia nella gestione della crisi dell’eurozona, inPartecipazione politica transnazionale, rappresentanza e sovranità nel progetto europeo, a cura di Marsocci P, Editoriale Scientifica, Napoli: 223-234.

 

[2014] Carparelli A, Ferri G, “L’euro, l’opinione pubblica e il futuro dell’Europa. La difficile eredità della crisi”, pubblicato in Firstonline http://firstonline.info/news/files/988.pdf. 

 

[2010] Carparelli A, Berti K, “Europe 2020. Policies against Poverty and Exclusion in the European Strategy for the Next Decade”, Rivista delle Politiche Sociali, n° 4.

 

[2005] Carparelli A, “La politica ambientale dell’UE dalle origini al Sesto programma di azione”, in Ambiente Condiviso, di Giovanelli F, Di Bella I, Coizet R, Edizioni Ambiente, Milano: Capitolo 7. 

 

[1999] Carparelli A, Buti M, Sestito P, Suardi M.Italy’s slow growth in the 1990s: facts explanations and prospects, in Economic Papers, European Commission.

 

[1998] Carparelli A, Buti M, Sapir A,The Impact of Monetary Policy on the Real Economy, in Economic Policy in EMU, Clarendon Press, Oxford.

 

[1984] Carparelli A, Ernesto Rossi (1897-1967)in I protagonisti dell'intervento pubblico in Italia, ed. Mortara A, Franco Angeli, Milano: 607-638.

 

 [1983] Carparelli A, Uomini, idee e iniziative per una politica di riconversione industrialein La transizione dall'economia di guerra all'economia di pace in Italia e in Germania, ed. Hertner P. e Mori, Il Mulino, Bologna: 207-247.

 

[1982] Carparelli A,“I perché di una mezza siderurgia. La società Ilva, l'industria della ghisa e il ciclo integrale negli anni Venti”, inAcciaio per l'industrializzazione, ed. Bonelli F, Einaudi, Torino: 5-158.

Francesca Carta
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Economy and Finance area

Competences: labor economics, public economics

Keywords: family policies, female employment, pension reforms, poverty

Region: ABROAD


Position/Role

Economist at the Bank of Italy, Department of Economics and Statistics, Economic Structure Service, Economic Structure Division and Labor Market.

Professional career

After obtaining a bachelor's degree (2006) and a specialist degree (2008) in Economics and Social Sciences at Bocconi University, she continued her education with a master's degree in Economic Theory and Econometrics at the Toulouse School of Economics (France). At the same university she obtained a PhD in Economics in 2014. Since 2013 she has been an economist at the Department of Economics and Statistics of the Bank of Italy, in the Division of Economic Structure and Labor Market. She has conducted visiting periods at Bocconi University and the Universitat Pompeu Fabra (Spain).

Scientific results

Francesca Carta's research activity takes place in the context of labor economics and the public economy, combining theoretical and empirical approaches. The topics analyzed are different: the determinants of female labor supply, with particular reference to conciliation policies and family interactions that condition the choice to participate in the labor market; the structure of the taxation system for the financing of childcare policies; the theoretical construction of indices for measuring global inequality; the economic implications of introducing an unemployment benefit for the euro area. More recently, she has begun to analyze the consequences of pension reforms on the labor market and the effects of family and income support policies.

Editorial work and publications

She is the author of the following publications:

(2018) Carta F, Rizzica L. Early kindergarten, maternal labor supply and children’s outcomes: evidence from Italy. Journal of Public Economics, 158: 79-102.

(2018) Carta F, De Philippis M. You've come a long way, baby. Husbands' commuting time and family labour supply. Regional Science and Urban Economics, 69:25-37.

(2016) Brandolini A, Carta F, D'Amuri F. A Feasible UnemploymentBased Shock Absorber for the Euro Area. Journal of Common Market Studies, 54(5):1123-1141.

(2016) Brandolini A, Carta F. Some reflections on the social welfare bases of the measurement of global income inequality. Journal of Globalization and Development, 7(1):1-15.

(2013) Carta F. Investing in the youngest: the optimal child care policy. Bank of Italy Occasional paper, n. 180.

Awards and prizes

As soon as she finished her studies at Bocconi University, Francesca Carta received a scholarship to start research and teaching at the Department of Institutional Analysis and Public Management of Bocconi University. Thanks to her master's thesis she was selected for an internship at the Bank of Italy, after being particularly worthy of the scholarship named after B. Stringher. During her doctoral studies she obtained a scholarship for excellent students from the Toulouse School of Economics and a three-year research contract funded by the French Ministry of Education.  Since 2015 she has been a fellow of the Dondena Gender Initiative (Bocconi University).  In 2015, with the article Female Employment and Pre-Kindergarten: on the unintended effects of an Italian reform, she won, with Lucia Rizzica, the “Etta Chiuri” award, promoted by the Italian Society of Public Economics (SIEP) and the International Institute of Public Finance (IIPF) Young Economist Award.

Daria Ciriaci
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Economy and Finance area

Competences: European affairs, governance, industrial economics, regional economics

Keywords: brain drain, european economic governance, innovation economy

Region: Lazio

Marcella Corsi
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Economy and Finance area

Competences: gender economy, history of economic ideas, human development, labor economics, microfinance

Keywords: evaluation, gender, microfinance, poverty, work

Region: Lazio


Position/Role

Full Professor of Political Economy at the La Sapienza University of Rome. President of "Minerva. Laboratory on diversity and gender inequalities" at the same University

Professional career

After obtaining a degree in Statistical Sciences (economics) from the University of Rome La Sapienza, she continued her education with a PhD in Economics from the University of Manchester (UK). From 1990 to 1992 she was a researcher at the Istituto Studi Congiuntura (ISCO) and, from 1992 to 2005, she worked as an associate professor at the LUISS "G. Carli ". From 2009 to 2013 she is a visiting professor at the Université Libre del Bruxelles. She is a member of CERMi (Center of European Research on Microfinance) at the Solvay Brussels School of Economics and Management. She has been collaborating for several years with Fondazione Risorsa Donna with reference to studies on the impact of microfinance and with the Giacomo Brodolini Foundation, on topics related to the gender economy. She is one of the founders of the Economia Civile association (http://www.economiacivile.it) and of the online magazine inGenere.it (www.ingenere.it). She has worked as a consultant for various international institutions (European Commission, European Parliament, OECD): in particular she coordinated the EGGSI network (Expert Group on Gender, Social Inclusion, Health and Long-Term Care) on behalf of the European Commission - DG Employment and social affairs. From 2013 to 2016 she coordinated the Gender Commission of the Italian Society of Economists (SIE). From March 2017 she directs the International Review of Sociology.

Scientific results

As part of her research activity, she has dealt with conjunctural analysis in the real world (labor market, consumption and investments, etc.), technical progress, innovations in the public sector, and, in more recent years, related topics to human development (gender inequalities, poverty, social investments, etc.) and to the evaluation of economic research. In recent years she has published in journals of international prestige such as the Journal of development studies and Feminist economics. She contributed to several collective books published by major international publishers (Routledge and Anthem Press) and edited a textbook for the publisher Laterza (in collaboration with Alessandro Roncaglia).

Editorial work and publications

Marcella Corsi is the author of numerous scientific publications, including (in more recent years):

(2018) (a cura di) Corsi M, Kregel J, D’Ippoliti C. Classical Economics Today, Anthem Press.

(2017) Corsi M, Roncaglia A.Nuovi lineamenti di economia politica, Laterza.

(2017) Corsi M, Gurubu G. Inequality and Poverty, in Jo T, Chester L, D’Ippoliti C (a cura di). Handbook of Heterodox Economics, Routledge.

(2017) Corsi M, De Angelis M. Gender Discrimination in Microfinance? Some Evidence from Uganda. Journal of Development Studies, vol. 53.

 (2016) Cirillo V, Corsi M, D’Ippoliti C. Gender, Class and the Crisis,  in Fadda S, Tridico P (a cura di), Varieties of Economic Inequality, Routledge.

(2016) Botti F, Corsi M, D’Ippoliti C. Gendered Nature of Poverty in the EU: Individualized versus Collective Poverty Measure. Feminist economics, vol. 22.

(2016) Botti F, Corsi M, Guarini G.Lo Stato come ‘fornitore’ d’investimenti sociali (F), Moneta e Credito, vol. 69.

(2013) Corsi M, D’Ippoliti C. The Productivity of the Public Sector: A ClassicalView PSL Quarterly Review, vol. 66.

(2011) Cipollone A, Corsi M, D’Ippoliti C. Building a Knowledge Economy: Education and Job Opportunities in Gender Perspective. PanOeconomicus, vol. LVIII.

 

(2011)  Corsi M, D’Ippoliti C, Lucidi F. On the Evaluation of Economic Research: The Case of Italy. Economia Politica, vol. 28.

E’ anche attiva in campo giornalistico, come redattrice del web-magazine inGenere.it (http://www.ingenere.it/persone/corsi) e come collaboratrice di lavoce.info.

 

 

 

 

 

 

 

 

 

Conchita D'Ambrosio
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Economy and Finance area

Competences:

Keywords: individual welfare

Region: ABROAD


Position/Role

Professor of Political Economy at the University of Luxembourg

Professional career

Conchita D'Ambrosio graduated with honors in Political Economy from Bocconi University in 1993. She continued her studies with a Master of Arts in Economics at the University of New York in 1997, a PhD in Public Finance at the University of Pavia in 1009, a Master of Philosophy or then a Phd in Economics at the University of New York in 1999 and 2000. In 2001 she was a researcher in Finance at the Bocconi University. In 2004 she became an associate professor at the University of Milan-Bicocca. In 2012 she received the prestigious PEARL Grant (about 2 MEUR) from the Fonds National de la Recherche Luxemburgese for the analysis of socio-economic inequalities and since 2013 she has been a full professor of Political Economy at the University of Luxembourg.

Scientific results

The research activity of Conchita D’Ambrosio is aimed at examining individual well-being, its measurement and its consequences, with particular attention to individual and social dynamics. On the one hand it proposed indicators of poverty, social exclusion, mobility, polarization, relative deprivation, economic insecurity, on the other it analyzed the association between the proposed indicators and individual behaviors in longitudinal data and cohorts of births in different countries, especially in Europe.  Her works underline the importance of inclusion in the measurement of individual well-being of confrontational elements and expectations that depend both on the individual's path being examined and on that of the others that make up the same reference group. Her recent studies are aimed at analyzing the effect of parents' economic insecurities on their children's cognitive and non-cognitive outcomes, both during adolescence, - outcomes such as academic performance, mental health, behavior, the index of body mass, - both in pregnancy on characteristics such as the weight and the circumference of the head of the newborn at birth.

Editorial work and publications

Conchita D’Ambrosio has been editor of the Review of Income and Wealth since 2008 and a member of the editorial board of the International Review of Economics and of the Journal of Economic Inequality. She edited the Handbook of Research on Individual and Social Well-Being, currently being printed with Edward Elgar. She is also the author of numerous scientific articles published in national and international journals, including:

 

(In press) Bossert W, Can B, D’Ambrosio C. A Head-count Measure of Rank Mobility

and Its Directional Decomposition. Economica.

(2016) Chakravarty SR, Chattopadhyay N, D’Ambrosio C. On a Family of Achievement and Shortfall Inequality Indices. Health Economics, 25:1503-1513.

(2016) Rohde N, D’Ambrosio C, Tang KK, Rao P. Estimating the Mental Health Effects of Social Isolation. Applied Research in Quality of Life, 11:853-869.

(2016) Clark A, D’Ambrosio C, Ghislandi S. Adaptation to Poverty in Long-Run Panel Data. Review of Economics and Statistics, 98:591-600.

(2016) Bossert W, Can B, D’Ambrosio C. Measuring Rank Mobility with Variable Population

Size. Social Choice and Welfare, 46:917-931.

(2015) D’Ambrosio C, Rohde. The Distribution of Economic Insecurity: Italy and the USA over the Great Recession. Review of Income and Wealth, 60:S33-S52.

(2014) Bose A, Chakravarty SR, D’Ambrosio C. Richness Orderings. Journal of Economic Inequality, 12:5-22.

(2013) Bossert W, D’Ambrosio C. Measuring Economic Insecurity. International Economic Review, 54:1017-1030.

(2012) Bossert W A, Chakravarty SR, D’Ambrosio C. Poverty and Time. Journal of Economic Inequality, 10:145-162.

(2012) D’Ambrosio C, Frick J. Individual Well-Being in a Dynamic Perspective. Economica, 79:284-302.

 

Awards and prizes

Conchita D’Ambrosio is among the twelve WISE WOMEN 2017, Women in Science and Engineering in Luxembourg. She is a member of the Scientific Commission for the Measurement of Wellbeing, ISTAT since 2011, a member of the Eurostat Task Force for the Development of the 2013 EU-SILC ad hoc module on well-being, 2010, member of the board of the Society for the Study of Economic Inequality since 2015. In 2017 she received the “Principessa Sichelgaita” international award, which won the High Patronage of the Chamber of Deputies, the Senate and the Presidency of the Republic - is awarded every year by the Salerno Lions Club Princess Sichelgaita, to women from Salerno who have distinguished themselves for their merits in art, entrepreneurship, entertainment or otherwise.

Daniela Del Boca
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Economy and Finance area

Competences: family economy, labor economics

Keywords:

Region: Piedmont


Position/Role

Daniela Del Boca, Ph.D. University of Wisconsin-Madison, is Professor of Economics at the University of Turin, Fellow of Collegio Carlo Alberto and Director of CHILD.

                                                

Professional career

After her bachelor degree at the University of Turin she continued her academic training in Labor Economics at the University of  Wisconsin-Madison where she was awarded her PhD in 1988.

Nel 1990 she has been Associate Professor at the Politecnico of Milan and later full Professor at the University of Turin. She has visited several Universities including New York University, Johns Hopkins, Munich

Scientific results

Her main interests are on gender gaps in the labor market and family investment in human capital and child development.

She has participated and coordinated several European Projects. Among the most recent ones: Families and Societies (FP7 2013-2017), Family and the Economic Crisis (Leibniz Association, 2015-2018), Child Care and Child Outcomes (Collegio Carlo Alberto and Jacobs Foundation), Economic Benefits of Gender Equality in the European Union. (http://www.carloalberto.org/child-collegiocarloalberto) and Closing the gender pension gap by increasing women’s awareness(2018-2010)

Editorial work and publications

Daniela Del Boca ha written several articles and books. Among the books: Women in the Labor Force: An Economic Perspective (Oxford University Press, 2005), Social Policies, Labour Markets and Motherhood (Cambridge University Press, 2008), Famiglie Sole (Il Mulino, 2009) e Valorizzare le Donne Conviene (Il Mulino, 2012).

Among the most recent articles:

(2018) Del Boca D, Heckman J, Biroli P et al. Evaluating the Reggio Approach on Early. Research in Economics, 71

(2017) Del Boca D, Monfardini C, Nicoletti C. Parental and child time and cognitive development of adolescents. Journal of Labor Economics 35(2):565-608

(2016) Del Boca D, Flinn C, Wiswall M. Transfers to families with children and child outcomes. Economic Journal 526: F138-F183

 (2014) Del Boca D, Flinn C. Household Behavior and Marriage Market. Journal of Economic Theory, 150: 37-155

(2014) Del Boca D, Flinn C, Wiswall M. Household Choices and Child Development. Review of Economic Studies, 81:137-185

Daniela Del Boca is also in the Editorial Board of two journals Labour (Review of Labour Economics) e Review of Economics of the Household and Member of the Editorial Committee of lavoce.info  where she is responsabile dei geneder and family policies  (www.lavoce.info). Collaborates also to 27esima ora of Corriere della Sera, the online journal inGenere and her results have cited by Repubblica, Il Sole 24 ore, International New York Times, Financial Times. She partecipates to several international conferences and workshops on women’s work, family and child outcomes.

Awards and prizes

In 2007 she was awarded by the President of the Italian Repubblica Giorgio Napolitano of the Order of Merit for her contribution to the study of conciliation work and the family. She is presently Research Associate to the Institute of Human Development and Social Change at NYU, the Becker-Friedman Institute of the University of Chicago, CEPR, Ifo at the University of Munich, and  IZA (Bonn). Since 2012 is Member of General Council of Compagniadi San Paolo.

 

Mariacristina De Nardi
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Economy and Finance area

Competences: inequality, macroeconomics, public economics, saving, saving economy

Keywords: economy

Region: ABROAD


Position/Role

Professor at University College London (London) and Senior Economist and Economic Advisor, Federal Reserve Bank of Chicago, research department

 

Professional career

After graduating in Economics and Commerce at the Ca 'Foscari University of Venice, she continued her education with a PhD in Economics from the University of Chicago (1999). She is currently Professor at University College London (London) and Senior Economist and Economic Advisor, Federal Reserve Bank of Chicago, research department, and Faculty Research Fellow of NBER and CEPR.

Scientific results

The research activity of Mariacristina De Nardi takes place in the fields of Microeconomics, Macroeconomics, and Public Finance. Her research focuses on savings, inequality, health and medical expenses, entrepreneurship and taxes.


Here are her plenary presentations:

 

Workshop of the Australasian Macroeconomics Society (WAMS),  Canberra, 2017.

Midwest Macro Meeting, Baton Rouge,  2017.

Italian Congress in Econometrics and Empirical economics (ICEEE), Messina,  2017.

Society for Economic Dynamics (SED), Toulouse,  2016.

GRIPS-Keyo University, Tokyo,  2016.

Network for Studies on Pensions, Aging, and Retirement (NETSPAR), Leiden,  2016.

70th International Institute for Public Finance, Lugano 2014.

Joint French Macro Workshop, Paris, 2014.

Network for Studies on Pensions, Aging, and Retirement (NETSPAR), Venice, 2014.

Editorial work and publications

Mariacristina De Nardi is Editor of Review of Economic Dynamics, from 2017 and Board of Editors, Journal of Economic Literature, from 2015.

She has published numerous publications, including:

 

(2017) De Nardi M, Fella G. Saving and Wealth Inequality. Review of Economic Dynamics, vol. 26, pp. 280-300.

 

(2016) De Nardi M, French E, Jones JB. Medicaid Insurance in Old AgeThe American Economic Review, 106, 11:3480-3520.

 

(2016)De Nardi M, Yang F.Wealth Inequality, Family Background, and Estate Taxation. Journal of Monetary Economics, Carnegie Rochester Special Issue on “Inequality, Institutions, and Redistribution, 77:130-145.

 

(2015) Boldrin M, De Nardi M, Jones L. Social Security and Fertility. Journal of Demographic Economics, 3: 261-299.

 

(2015) Bassetto M, Cagetti, De Nardi M. Credit Crunches and Credit Allocation in a Model of Entrepreneurship. Review of Economic Dynamics, 18, 1:53-76, special issue on Money, Credit, and Financial Friction.

 

(2014) De Nardi M, Yang F. Bequests and Heterogeneity in Retirement Wealth. European Economic Review, 72: 182-196.

 

(2010) De Nardi M, French E, Jones JB. Why Do the Elderly Save? The Role of Medical Expenses. Journal of Political Economy, 118:39-75.

 

(2009) Cagetti M, De Nardi M. Estate Taxation, Entrepreneurship, and Wealth. The American Economic Review, 99(1):85-111.


(2008) Cagetti M, De Nardi M. Wealth inequality: data and models. Macroeconomic Dynamics, 12:285-313.


(2006) Cagetti M, De Nardi M. Entrepreneurship, Frictions, and Wealth. Journal of Political Economy, 114, 5: 835-870.

 

(2004) De Nardi M. Wealth Inequality and Intergenerational Links. Review of Economic Studies, 71, 3:743-768.

 

(1999) De Nardi M, Imrohoroglu  S, Sargent  TJ. Projected U.S. Demographics and Social Security. Review of Economic Dynamics, 2,3: 575-615.

 

 

 

 

Maria De Paola
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Economy and Finance area

Competences: economics of education, labor economics, political economy

Keywords: education, evaluation, experiments, gender, politics, work

Region: Calabria


Position/Role

Full Professor of Political Economy at the University of Calabria

Professional career

After graduating in Economics at the University of Calabria in 1992, she continued her education with a PhD in Political Economy at the University "La Sapienza" in Rome. She was a visiting student at the University of Cambridge and at the University of East Anglia, Norwich. From 2001 to 2006 she was a researcher at the University of Calabria, at the same university she held the position of associate professor from 2006 to 2017, from 2017 she has been a full professor of Political Economy. Since 2013 she has been a Research Fellow at the Institute of the Study of Labor (IZA), Bonn. From 2011 to 2014 she was a member of GEV 13, National Assessment of Italian Research (VQR 2011-2014). From 2015 to February 2018 she was a member of the de lavoce.info editorial committee.

Scientific results

Maria De Paola's research activity takes place mainly in the field of labor and education economics, public policy evaluation and political economy. In the field of labor and education economics she examined the determinants of students' academic performance, on-the-job training processes and professional careers and work organization. She devoted particular attention to gender differences trying to understand the role played by differences in attitudes and non-cognitive abilities. To this end, she used both observational data and data deriving from field experiments. For example, using data on national scientific certification, she examined the tendency of women to avoid competitive contexts and, for the same purpose, conducted several experiments with students. As part of the evaluation of public policies, she has conducted studies to estimate the impact of some important legislative interventions, such as the points license, the Brunetta law on absenteeism in public administration, gender quotas, the “fruit in schools” program. She also contributed to the analysis of voters' behavior in relation to the characteristics of the electoral system and of candidates for the elections.

Editorial work and publications

She is the author of numerous publications, including:

(2017) De Paola M. Ponzo M e Scoppa V. Gender Differences in Attitudes Towards Competition: Evidence from the Italian Scientific Qualification.Oxford Economic Papers, 1-24 doi: 10.1093/oep/gpx023

(2016) De Paola M, Gioia F. Who Performs Better under Time Pressure? Results from a Field Experiment.  Journal of Economic Psychology, 53:37-53.

(2016) De Paola, De Benedetto MA. The Impact of Incumbency on Turnout.Evidence from Italian Municipalities. Electoral Studies, 44:98-108.

(2015) De Paola M, Bracco E, Green C. Long Lasting Differences in Civic Capital: Evidence from a Unique Immigration Event in Italy. Journal of Economic Behavior and Organization, 217–236.

 

(2015) De Paola M, Gioia F, Scoppa V. Are Females Scared of Compiting with Males? Results from a Field Experiment. Economics of Education Review, 48:117–128.

(2015) De Paola M, Scoppa V. Gender Discrimination and Evaluators’ Gender: Evidence from the Italian Academia. Economica, 82(325):162-188.

(2014) De Paola M, Scoppa V. The Effectiveness of Remedial Courses in Italy: A Fuzzy Regression Discontinuity Design. Journal of Population Economics, 27, 2:365-386.

(2014) De Paola M, Scoppa V, De Benedetto MA. The Impact of Gender Quotas on Electoral Participation:  Evidence from Italian Municipalities. European Journal of Political Economy, 35:141-157. 

(2014) De Paola M, Scoppa V, Pupo V. Absenteeism In The Italian Public Sector: The Effects Of Changes In Sick Leave Compensation. Journal of Labor Economics, 32, 2:337-360.

(2014) De Paola M, Brunello G, Labartino G. More Apples Fewer Chips? The Effect of School Fruit Schemes on the Consumption of Junk Food. Health Policy, 118(1):114–126.

(2014) De Paola M, Scoppa V. The Impact of Closeness on Electoral Participation Exploiting the Italian Dual Ballot System. Public Choice, 160:467-479.

(2010) De Paola M, Scoppa V, Lombardo R. Can Gender Quotas Break Down Negative Stereotypes? Evidence from Changes in Electoral Rules. Journal of Public Economics, 94(5-6): 344-353.

(2010) De Paola M, Scoppa V, Brunello G. Residential Peer effects in Higher Education: Does the Field of Study Matter? Economic Inquiry, 48(3):621-634.

 

Awards and prizes

Maria De Paola received the Tarantelli Award in 2013 for the best paper in Labor Economics assigned by the Italian Association of Labor Economists. The book "Education and Training in Europe" (to which he contributed) was selected by Princeton University, The Firestone Library, for the best book of the year award in Labor Economics and Industrial Relations. From 2016 to today she is a member of the Scientific Commission of the publishing house Il Mulino (Bologna), of the Gender Commission of the Italian Society of Economists (SIE), of the Editorial Board of the Italian Economic Journal (ItEJ).

 

Marta De Philippis
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Economy and Finance area

Competences: political economy

Keywords: education economy, gender, labor market

Region: Lazio


Position/Role

Economist in the labor market division and economic structure of the economics and statistics department of the Bank of Italy

Professional career

After graduating in Economics and Social Sciences and a three-year degree in Business Economics from the Bocconi University, she continued her education with a PhD in Economics from the London School of Economics, obtained in 2016. In December 2014 she joined the Bank of Italy as an economist. In the past she worked for short periods at the Rodolfo Debenedetti Foundation, the European Commission and the Center of Economic Performance (LSE). Her research interests are related to labor economics, in particular to the economics of education and gender.

Scientific results

The research activity of Marta De Philippis takes place in the field of the labor market and education systems. In this context she studied the consequences on the quality of teaching and research of university professors of incentive systems that are strongly (or exclusively) result-oriented in terms of academic publications. She also studied the determinants of gender differences in obtaining purely scientific degrees (STEM) and, on average, higher paid, leading them in part to preferences regarding future job opportunities. She then contributed to the analysis of female participation and how it also depends on intra-family interactions, showing that pension reforms have greatly increased female participation, and male participation mainly through intra-family interactions, and that a reduction in time displacement would have beneficial effects on female participation, including through the effect on their partners.

Editorial work and publications

She is the author of the following publications:

(2017) M. De Philippis.STEM Graduates and High School Curriculum: Does Early Exposure to Science Matter?, Bank of Italy working paper  n. 1107

(2016)Adamopoulou E, Bobbio E, De Philippis M e Giorgi F. Wage Rigidities and Business Cycle Flactuations: A linked employer-employee analysis. IZA Journal of Labour Policy.

(2016) M. De Philippis. Multitask Agents and Incentives: the Case of Teaching and Research for University Professors. CEP Discussion Paper n.138.

(2016) M. De Philippis e F. Rossi. Parents, Schools and Human Capital Differences across Countries. CFM LSE working paper n. 14.

(2015) Carta F e De Philippis M.You've come a long way, baby. Husbands’ Commuting Time and Family Labour Supply.Regional Science and Urban Economics, 69:25-37

(2015)Boeri T, De Philippis M, Pellizzari M e Patacchini E.Immigration, housing discrimination and employment.The Economic Journal, 125, 586:F82–F114

Awards and prizes

In 2016 Marta De Philippis received the Ezio Tarantelli award for labor economics for the STEM Graduates and High School project. Curriculum: Does Early Exposure to Science Matter? She also received the scholarship in honor of Marco Fanno for the years 2012 and 2013; the ESRC research fellowship (LSE) for the period 2010-2014 and the scholarship as an excellent student at the Bocconi University for the years 2008 and 2009.

 

Veronica De Romanis
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Economy and Finance area

Competences: economic policy, European Union, fiscal policy

Keywords: debt, european integration, female employment, governance, growth

Region: Lazio


Position/Role

In 2016 Marta De Philippis received the Ezio Tarantelli award for labor economics for the STEM Graduates and High School project. Curriculum: Does Early Exposure to Science Matter? She also received the scholarship in honor of Marco Fanno for the years 2012 and 2013; the ESRC research fellowship (LSE) for the period 2010-2014 and the scholarship as an excellent student at the Bocconi University for the years 2008 and 2009.

 

Professional career

After graduating with honors in Economics and Business at the Sapienza University of Rome, she continued her education with a PhD in Economics at Columbia University in New York (USA), where she obtained a Master of Philosophy (Major in Economics) and the Master of Art (Major in Economics). For over 10 years she has been a member of the Council of Experts at the Ministry of Economy and Finance, where she mainly dealt with macroeconomics and public finance. She was also responsible for relations with Eurostat, the European Commission, the OECD and the International Monetary Fund. Currently, she teaches European Economic Policy at Stanford University (The Breyer Center for Overseas Studies) in Florence, at the Faculty of Political Sciences and at the Master of Business Administration of the Free University of Social Studies Guido Carli (LUISS) in Rome. Since April 2015, she has been an independent director of the Board of Directors, of the Risk Committee and of the Remuneration and Appointments Committee of Cementir Holding Spa (Rome).

Scientific results

The research activity of Veronica De Romanis takes place in the field of European economic policy, the female labor market and fiscal and monetary policy in Europe during the financial crisis. For example, in the book “Il Caso Germania” the various tools put in place to finance aid to countries in difficulty are illustrated, such as the European Stability Mechanism, but also the new rules agreed on the fiscal side (the Fiscal Compact, the Six Pack , the Two Pack, etc.) and the unconventional tools introduced by the European Central Bank (the SMP, the MTO and the QE). European governance is explained from the point of view of Germany, a country that has tried to reconcile "solidarity" with states in difficulty with "responsibility" among the economies that share the single currency. In particular, debtors were asked for austerity measures in exchange for aid. The latter were considered by various analysts to be the cause of the deep recession that countries like Greece had to face. In the book "Austerity makes us grow" he analyzed the impact of fiscal consolidation policies implemented in several European countries, including Spain, Greece, Ireland and Portugal, on economic growth. Particular attention was paid to the Italian case. The book shows that in countries where "good" austerity is implemented, that is the mix of unproductive spending cuts and reforms, the economy starts to grow again. When, on the other hand, governments concentrated the adjustment on the revenue side, the effects were recessive. Moreover, implementing "austerity" measures does not necessarily make the elections lose. In countries where "good" austerity has been implemented, the current premieres have been reconfirmed.

Editorial work and publications

Veronica De Romanis is the author of three monographs for Marsilio publishers: "Austerity makes us grow", 2017, "The German Case", 2013 and "The Merkel Method", 2009.  She collaborates with various newspapers and magazines (including Aspenia, Corriere della Sera, FirstonLine, Il Foglio, Il Messaggero, Panorama, Istituto Affari Internazionali) on issues of public finance, European integration, international economic policy, labor market with particular attention to female occupation.

Awards and prizes

Veronica De Romanis is a Member of the Steering Committee of the Italian Public Accounts Observatory at the Catholic University of Milan directed by Prof. Cottarelli. She is also a member of the WE Women Empower the World International Board. She was one of the 50 women invited by Chancellor Merkel to the G7 Dialogue with Women which took place in September 2015 in Berlin. She was a member of the Department of Economics of the Scientific Committee of the Einaudi Foundation. She was selected for the D Value Course for women on the Board. She received the "President's Fellow" scholarship at Columbia University in New York.

Alessandra Faggian
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Economy and Finance area

Competences: applied economics, economic geography, regional economics

Keywords: human capital, local economic development, migration, resilience

Region: Abruzzo


Position/Role

Full Professor of Applied Economics and Director of the Social Sciences area at the Gran Sasso Science Institute, where she is also Pro-rector with research authority.

Professional career

After graduating in Economics at the Bocconi University in Milan in 1997, she continued her education with a Master's degree in Regional Sciences and a PhD in Economics at the University of Reading (UK). From 2002 to 2007 she was a permanent researcher at the University of Reading (UK). From 2007 to 2011 she was associate professor at the University of Southampton (UK). In 2012 she moved to Ohio State University (USA) where in 2014 she became a full professor. In 2017 she returned to Italy to the Gran Sasso Science Institute, a new doctoral school based in L'Aquila, where she is also director of the social sciences area and pro-eect at research.

Scientific results

Alessandra Faggian's research activity takes place in the field of regional economy and economic geography, with a focus on issues such as migration (both forced and voluntary) and the role of human capital and creativity in economic development and territorial resilience. She participated in various projects funded in various ways by international bodies / institutions such as the National Science Foundation (USA), the Economic and Social Science Research Council (UK), the Australian Research Council (Australia), the OECD and the Commission European.

Editorial work and publications

Since 2013 she is co-director of Papers in Regional Science. She is also a member of the editorial boards of the Journal of Regional Science, Regional Studies, Regional Science and Review of Regional Research. She has also edited numerous special issues in international journals. She has more than 90 scientific publications, some of which have appeared in prestigious international journals such as the Journal of Economic Geography, the Oxford Economic Papers, the Cambridge Journal of Economics, the Journal of Regional Science, Feminist Economics, Regional Studies, Urban Studies and the Cambridge Journal of Regions, Economy and Society.
Below are 10 relevant publications from the most recent ones:

 

(2018)Biagi B, Faggian A, Rajbhandari I e Venhorst V. (eds.) New Frontiers in Interregional Migration Research.Springer, Berlin Heidelberg.

(2018) Crescenzi R. Di Cataldo M. e Faggian A. Internationalised at work and localistic at home: the split Europeanisation of Brexit. Papers in Regional Science, doi: 10.1111/pirs.12350.

(2018), Faggian A, Partridge M e Malecki E. Creating an environment for economic growth: human capital, creativity or entrepreneurship? International Journal of Urban and Regional Research, doi:10.1111/1468-2427.12555.

(2017) Corcoran J. e Faggian, A. (eds.) Graduate migration and regional development: an international perspective. Edward Elgar, Cheltenham UK, ISBN 9781784712150

(2017) Faggian A, Gemmiti R, Jaquet T e Santini I. Regional resilience: lessons learned from the Italian local labor markets. Annals of Regional Science,doi:10.1007/s00168-017-0822-9.

(2017) Faggian A, Rajbhandari I e Dotzel K. The interregional migration of human capital and its regional consequences: a review. Regional Studies,51(1):128-143.

(2016) Faggian A, Corcoran J e Rowe F. Evaluating the effects of federal policy changes on human capital: The role of a graduate visa scheme. Environment and Planning C, 34(1): 151-170.

(2015) Abreu M, Faggian A e McCann P. Migration and inter-industry mobility of UK graduates. Journal of Economic Geography,15 (2): 353-385.

(2014) Faggian A e Franklin. Human Capital Redistribution in the USA: The Migration of the College-bound. Spatial Economic Analysis, 9,4: 376-395, DOI: 10.1080/ 17421772.2014.961536.

(2014) Faggian A, Comunian C e Li QC. Interregional migration of human creative capital: the strange case of "Bohemian graduates". Geoforum, 55:33-42.

Awards and prizes

In 2006 Alessandra Faggian won (together with Philip McCann) the Moss Madden Medal of the British and Irish regional science association (RSAI-BIS) for the best article published by a member of the association. In 2015 she won the Geoff Hewings Award as the best young regional scientist in North America and in 2016 was mentioned in a ranking of the 100 most influential regional scientists in the world as 19th. She was President of the North American Association of Regional Sciences (NARSC) and is a member of several directorates of regional science associations in the world.

Ester Faia
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Economy and Finance area

Competences: finance, labor economics, macroeconomics

Keywords: banking crisis, expectations, financial frictions, fiscal policy, information economy, labor institutions, macro-prudential policies, monetary policy, monetary regimes, sovereign debt crisis, unemployment

Region: ABROAD


Position/Role

Full Professor at the Goethe University of Frankfurt (chair in Monetary and Fiscal Policy).

Professional career

Ester Faia has a degree in Political Economics from Bocconi University where she also earned a Master's degree. She held a Ph.D.at the New York University and a joint Catholic-Bocconi doctorate. She was assistant professor at the Pompeu Fabra University of Barcelona and a visiting professor at the European University Institute. Currently she is a fellow of the CEPR (Financial Economics and International Finance programs) and a fellow or scientific advisory board member of several other research centers in Europe and the United States. She was program director for the macro-finance area of the SAFE center of excellence at the University of Frankfurt and consultant for various central banks, including the ECB, and the European Commission. She has received numerous awards for research excellence and research grants (Marie Curie, EU grant FP7, Deutsch Forschung Gemeinshaft (German Research Foundation) and fellowships for studies abroad (Marco Fanno).

Scientific results

Ester Faia has published numerous works for the analysis of monetary and fiscal policies with

expanded macroeconomic models to take into account frictions in the financial, labor or product

market. Some of these analyzes included applications in international contexts for the study of

optimal monetary areas in the presence of asymmetries in the financial or labor markets. Some

jobs focused on the labor market investigated the role of institutions such as collective bargaining

or unemployment insurance for inflation developments with implications for monetary policy. In

another area of ​​research he has developed macroeconomic models with banking crises (in

particular bank liquidity crises) for the study of macro-prudential policies. More recent research

projects include the study of the role of expectations formation or other behavioral elements for

price trends in financial markets, the role of the digital economy for financial markets and the labor

market.

 

Editorial work and publications

Ester Faia has published extensively in top refereed international journals.

A complete list can be found in his CV on her webpage.

Awards and prizes

Ester Faia is top 5% for several IDEAS ranking criteria. It was ranked fourth in the Handelsblatt ranking for economists under 40 in 2013 (eighth in 2011). She was associate editor of the Journal of Economic Dynamics and Control and Macroeconomic Dynamics. She was part of the Economic Policy panel. She was invited to give keynote lectures and presented in numerous international conferences and seminars.

 

Isabella Falautano
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Economy and Finance area

Competences: communication & digital PR

Keywords: business angels, diversity and inclusion, global governance, innovation, social innovation, start up, sustainability

Region: Lombardy


Position/Role

Member of the Management Team: Chief Communication and Stakeholder Engagement Officer

illimity Bank

Professional career

Italian and Austrian, European by heart. An International mindset and bridging different worlds are the red threads of Falautano’s professional and personal career. An honor graduate in International Affairs from La Sapienza University of Rome and with a Postgraduate Degree in International Development, she started in 1996 as a research fellow in international trade and global governance at the International Affairs Institute. Here she was detached in 1998 as Summer Assistant in DECVP at the World Bank, led by Joseph Stiglitz, in Washington DC. Further opportunities to strengthen her analytical and strategic skills arose from an assignment as Expert for International Economic Relations at the Italian Presidency of the Council of Ministers.

In 2001, Falautano entered the private sector as head of Research & International Affairs at a national banking group, followed by another managerial role at a in the multinational insurance group AXA – a position she held for over a decade. During this time Falautano applied a “startup approach” to developing the activities of the communications team, including strengthening institutional relationships and increasing sustainability initiatives, as well as providing consistently thoughtful leadership. As a result she was appointed  Executive Director and member of the management team. At the end of 2018, she joined the Executive Committee of the banking startup, illimity, taking on the challenge of communicating and positioning a completely new reality in the Italian financial sector She reports directly to illimity CEO Corrado Passera, whose innovative values underpin the business.

 

Alongside her primary work, she Falautano contributes to part several international dialogue networks, including: World Responsible Leader of the BMW-Quandt Foundation; Marshall Memorial Fellow of the German Marshall Fund; Conseiller du Commerce Extérieur de la France; and Intheboardroom. She has been on several training and educational institutions and associations’ boards of directors, from the Partnership Foundation for Bocconi to Junior Achievement. Falautano is a member of the Scientific Committee of the Scuola di Politiche where she has also lectured on economic global governance. In 2018 she was awarded a position among the top 100 digital women of Startupitalia and, now, features in the 100esperte.it list.

Scientific results

Isabella Falautano has developed four specific areas of expertise. The first, focus is on economic global governance and multilevel policies issues, in a world of increasing complexity. Her accomplishments in this field began at the International Affairs Institute, where she designed and launched the Global Economic Outlook and published several articles on the WTO and the internationalization of the Italian system. Subsequent activities include: a collaboration with the World Bank, in which contributed to several global regionalism studies; an elaboration of studies and dossier on bilateral economic interests at the Prime Minister's Office; and most recently, lecturing and role playing on G-20 at Scuola di Politiche.  Falauntano’s second area of expertise is thought leadership in relation to risk and sustainability, which she began to develop on entering the private sector. At the multinational company AXA her contributions include:, she  launching  partnerships between AXA Research Fund and leading academic and research centers in Italy (Bocconi, EIEF, Collegio Carlo Alberto) resulting in  over 18 million of euro; designing  and coordinating 16 editions of the Italian AXA Forum, one of the main Italian events on the topic of risk; working on various policy briefs on risk issues with the Italian AXA Papers.; and instigating green corporate responsibility projects and, thus, the reporting of sustainability profiles on non-financial statements.  Her third are of expertise is innovation in the startup sector. She has been instrumental to the success of Milan’s first innovation hub and business network that supports female entrepreneurship, Angel 4 Women. And now she is leading crucial communications activities at the banking startup illimity, working to strengthen its position in the innovative fintech and ecosystem. She is among the top 100 digital women of Startupitalia.

Throughout her career, Falautano has cultivated and implemented the values of inclusion and diversity, from the ideation of formats like women in insurance a research projects on women and risk, to participating in the first edition of Intheboardroom and creation of Angels 4 Women. 

Awards and prizes

[2018] Top 100 digital WomendiStartupitalia.eu

[2018] Best Storytelling Award– rilasciato da: Lundquist

[2017] CSR Award– rilasciato da: Aifin

[2017] Best Communication Team Award– rilasciato da: Le Fonti

[2016] Leone d’Oro migliore Campagna Istituzionale– rilasciato da: Milano Finanza Awards

[2008] Young Leader e World Responsible Leader– rilasciato da: BMW/Quandt Stiftung

[2001] Marshall Memorial Fellow of German Marshall Fund of the United States

[1999] Young Leader Council for Italy and United States

 

Cristina Finocchi Mahne
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Economy and Finance area

Competences: ethic, finance, governance, quoted companies, sustainability

Keywords: finance, governance, quoted companies, sustainable economy

Region: Lombardy


Position/Role

Board Member and Chairwoman of Board Committees (Audit, Risks and Sustainability; Nomination and Remuneration) of companies listed in Italy and abroad; Business Economist; former Senior Executive of blue-chips with market capitalization up to €10 bn; University Professor.

Co-Chairwoman Italy and Member of the Steering Committee of WCD Foundation, international think tank on best practices in corporate governance.

Professional career

Degree in Economics and Business at La Sapienza University of Rome, MBA at Luiss Business School and further qualifications in finance, financial communication and management skills in London and Los Angeles. She began her career in Euromobiliare,  merchant bank controlled by HSBC, in the corporate finance area, and gained significant experience in finance in Tamburi & Associati, JP Morgan and Hill & Knowlton, before being appointed Senior Executive and Member of the Executive Committee, as Director of Group Investor Relations and Strategic Communication, of financial blue-chips - such as Fineco Group - with market capitalization up to 10 billion. Later she became Partner and, since its IPO, Board Member, of a leading Italian company in strategic advisory in corporate governance and financial communication. From 2004 to 2012 she was also Author and Anchorwoman of Watchdog, television talk show on corporate governance, on air on Class CNBC, Sky 507 economic and financial channel: among her guests, the most influential representatives of the economic, academic and institutional world.

She is a Lecturer on Corporate Governance and Sustainability at Luiss University; Professor in Advanced Business Administration and then in Economics of Banking and Industrial Groups, master's degree courses at La Sapienza University of Rome until 2017 and Lecturer in Corporate Governance at Luiss Business School. She was an ABI lecturer at courses reserved to Board members of banking groups, on risks and corporate governance. She was a government-appointed Member of Commission at the Presidency of the Council of Ministers, as a highly recognised expert on corporate governance from 2011 to 2013.

 

Since 2010 she is Board Member and Chairwoman of Board Committees (risks, audit and sustainability; nomination and remuneration) of companies listed in Italy and abroad, up to € 4bn market cap (sectors: consumer discretionary, healthcare services, banking, IT / communication, industrial, telecom services)

Since 2012 she is also Co-Chairwoman Italy, Member of the Steering Committee of WCD Foundation, international think tank on best practices in corporate governance that brings together, from all over the world, board members of listed companies whose total market capitalization is over $ 8 trillion. She was also member of its global cyber insurance steering committee.

Scientific results

Cristina Finocchi Mahne's research activity is carried out in the field of finance, with focus on listed companies and financial markets, and in particular corporate governance and sustainability issues. Among her most recent research commitments, an international perspective on the sustainability strategy in listed companies; a research on top management incentivation plans including ESG (environmental, social, governance) targets; a cooperation in a large international research project on cyber risk and its implication on corporate governance.

Lecturer at prestigious universities, guest speaker in television talk shows and keynote speaker on corporate governance, financial markets and family business matters at national and international conferences, business and academic, in Tokio, New York, Paris, Milan, Rome, Bologna.

Editorial work and publications

Among her publications: articles on corporate governance matters published by main economic newspapers and influential news sites; international papers as ‘Boards and role models for supporting the climb upwards’ part II of ‘Women on to corporate boards: a snow ball starting in Norway’, (2013) Edward Elgar Publishing

Awards and prizes

In 2003, Luiss awarded her the Distinguished Executive Award, and in 2007 she received the Best in Class award from the University La Sapienza, Faculty of Economics, both for professional achievements.

 

Elsa Fornero
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Economy and Finance area

Competences: financial education, labor economics, pension economy, public policies, saving economy

Keywords: aging, pension funds, public systems, redistribution, saving, work

Region: Piedmont


Position/Role

Professor of Economics, University of Torino

Professional career

Elsa Fornero is Professor of Economics at the University of Turin (retired since Nov. 2018). She is also Scientific Coordinator at CeRP (the Center for Research on Pensions and Welfare Policies, which she founded in 1999), Vice-President of Share-Eric (Survey of Health, Ageing and Retirement in Europe), Research Fellow at Netspar, and Policy Fellow at the IZA Institute for the Study of Labour. She is also a member of the Scientific Council of the Observatoire de l'Epargne Européenne, of the Advisory Group of the New Pact for Europe and of the Research Committee of the OECD International Network on Financial Education.

From November 2011 to April 2013 she served as Minister of Labour, Social Policies and Equal Opportunities in Italy’s “technocratic” government, in which capacity she conceived and drafted the pension and labour market reforms. 

Other past positions include:

-        Vice-President of Compagnia di San Paolo, one of the largest Italian foundations (2008-2010);

-        Member of the Evaluation Unit of Welfare Expenditure, established at the Welfare Ministry (2005-11)

-        Member of the Steering Board of the Italian Associations of Economists (2005-7);

-        Vice-President of the Supervisory Board of Intesa Sanpaolo Bank (2010-2011)

-        Member of the scientific board of Confindustria (National Association of Enterprises, 2005-2006)

On behalf of the World Bank, in the early 2000s, she assessed the pension systems of Russia, Latvia, Macedonia and Albania and was invited, later, to WB conferences and events.

Fornero is also the author of many publications on public and private pension systems, pension reforms, population ageing, household saving, retirement choices and life insurance.

Scientific results

Fornero’s research activity focuses on the determinants of household’s saving behaviour, analysed through optimization and behavioural models. She has also been addressing saving for old age, the reasons why pension systems are public and the characteristics of a ‘good’ pension system. From an applied point of view, she analysed European pension systems and reforms. Her recent research focuses on financial education, seen as a way to improve individual’s life-cycle decisions and achieve a more active citizenship; and on the analysis of linguistic bias to explain gender differences in financial decisions.

Editorial work and publications

Recent publications:

a) Books

Chi ha paura delle riforme. Illusioni, luoghi comuni e verità sulle pensioni. Università Bocconi Editore, 2018.

L’economia dei fondi pensione. Potenzialità e limiti della previdenza privata in Italia, Il Mulino; Studi e Ricerche; Bologna 1999

(with Onorato Castellino), Economia del risparmio e della ricchezza. Comportamenti privati e indebitamento pubblico, Il Mulino, Ricerca, Bologna, 1990.

b) Edited Books

(with Paolo Sestito, ed.), Pension Systems: Beyond Mandatory Retirement, Cheltenham: Edward Elgar, 2005.

(with Elisa Luciano, ed.), Developing an Annuity Market in Europe, Cheltenham: Edward Elgar, 2004.

(with Onorato Castellino, ed.), Pension Policy in an Integrating Europe, Cheltenham: Edward Elgar, 2003.

(with Onorato Castellino, ed.), La riforma del sistema previdenziale italiano, Il Mulino, Studi e Ricerche, Bologna, 2001.

c) Articles and book chapters    

(with A. Lo Prete) Voting in the Aftermath of a Pension Reform: The Role of Financial Literacy, Journal of Pension Economics and Finance, Volume 18, Issue 1, January 2019, pp. 1-30.

(with F. Coda Moscarola, M.C. Rossi), The family as an informal market and the (low) mobility of the Italian young Politica Economica, Journal of Economic Policy, vol. XXXIV(1), 2018, April, 45-78

(with M.C. Rossi, D. Sansone) ‘Four Bright Coins Shining at Me’ Financial Education in Childhood, Financial Confidence in Adulthood, Journal of Consumers Affairs, 2018, doi.org/10.1111/joca.12207

(with Cecilia Boggio - Henriette Prast - José Sanders), Seven ways to knit your portfolio: Is the language of investor communication gender neutral? in Giuliana Garzone, Paola Catenaccio, Kim Grego, Roxanne Doerr (eds), Specialised and professional discourse across media and genres, Milano: Ledizioni, 2017.

Awards and prizes

Tarantelli prize for AspI, (the Social Insurance for Employment scheme, one of the pillars of the labour market reform), selected as best economic idea of the year by “Il Club dell’Economia” 2013

The “Liberal Award” by the Swiss “Young Liberals”, 2013

“La Mela d’Oro / Women: innovation and human capital” prize by the Marisa Bellisario Foundation, in 2011;

(with Olivia Mitchell), INA International Prize for the Economics, Finance and Statistics of Private Insurance by the Accademia Nazionale dei Lincei, Rome, 2003;

(jointly with Ignazio Musu), Saint Vincent Price for Economics, 2001.

Alessandra Franzosi
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Economy and Finance area

Competences: institutional investors, sustainability

Keywords: asset allocation, demographics, institutional investors, pension funds, sovereign funds, sustainability

Region: Lombardy


Position/Role

Head of Pension Funds and Asset Owners for Capital Markets of Borsa Italiana and London Stock Exchange Group. Lecturer of International Capital Markets at Bocconi University

Professional career

At the London Stock Exchange Group Alessandra is responsible for the relationship with the Asset Owners, such as pension funds, insurances, sovereign wealth funds. She promotes Capital Markets and LSEG brand globally and develops strategic intelligence to identify new trends and opportunities.  She is focal point for issues related to Responsible Investment and ESG. She has been working  for the Italian Stock Exchange since 2000, where she coordinated for ten years the Economic Research Team.  From 1995 to 2000 she was economist at Ref.  an independent economic research provider.  She graduated in Economics at the Bocconi University in 1995, she got a Master degree in Econometrics at the University of Southampton in 1998.  Since 2007 she has been teaching International Financial Markets at Bocconi University. 

She is regularly invited as a speaker at national and international conferences,  she is author of numerous publications, she is Judge in various Awards dedicated Institutional Investors.    

Scientific results

Alessandra had the opportunity to lead relevant projects. She contributed to the Italian National Pension Funds Day hosting international pension funds and facilitating sharing of outstanding experiences.  She participated in drafting the "ESG Guide for issuers" by LSEG and she is among the organizers of the Italian Sustainability Day. She supported to the preparatory work for “Consob SMES Table” and for  the introduction of tax reliefs for investment in SMEs.  She coordinates the working group on “Italian Institutional Investors investing in the domestic real economy”.

Her professional activity has always been strictly connected with scientific research in the field of finance and economics, with a focus on determinants of international capital flows, asset allocation of institutional investors, regulation and capital allocation connections. Recently her interest has turned to issues such as comparative analysis of pension funds, PEPP, ESG investment and active ownership, impacts of regulation on insurances capital allocation.  

Alessandra is Mentor at the London Stock Exchange Group  Mentorship Program.

Editorial work and publications

Alessandra Franzosi is author of numerous publications, including:

(2019) “Investire in Italia: attivare le potenzialità del Paese”, Quaderno di approfondimento 2019, Itinerari Previdenziali, January

(2017) “Your Guide to ESG Reporting. Guidance for issuers on the integration of ESG into investor reporting and communication”, edited by LSEG, February

 (2014) “Investitori Istituzionali, mercato azionario italiano e flussi finanziari” in ‘L'evoluzione dell'asset management durante la crisi: lesson learnt' ed. G. Giudici and F. Marchetto, McGraw-Hill, December

 (2006) “Portoflio and psychology of high frequency online traders. Second report on the Italian market”, with Alemanni B., BItNotes n. 16, July

 (2004) “Capital heterogeneity: does it matter? Fundamental Q and investment on a panel of Italian firms”, con Bontempi E., Del Boca A., Galeotti M. and Rota, L., Rand Journal of Economics, Vol. 35, n. 4, Winter

Awards and prizes

Alessandra Franzosi participated as a speaker at numerous conferences. Among the most recent:

(2018) “World Pension Summit”, The Hague, April

(2018) “EPFSF lunch debate in the European Parliament  on The Pan-European Personal Product (PEPP) Chapter”, European Parliament, Brussels, March

(2018) “SMART BOARDS for SMART COMPANIES. Si può misurare la buona governance?”, Valore D, Milan, February

(2017) “L’adozione dei criteri ESG: da approccio di nicchia a mainstream”, Mefop, Rome, October

(2017) “Pension Funds Risks & Asset Allocation”, IPE360, London, 23-24 June

(2018, 2017) “Annual Meeting Compagnie di Assicurazione”, Itinerari Previdenziali, Venice, June

 

Liliana Fratini Passi
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Economy and Finance area

Competences: financial economy

Keywords: big data, digitization, electronic payments, innovation, institutions

Region: Lazio


Position/Role

General Director of the CBI Consortium

Professional career

After graduating in Business and Economics at the “La Sapienza” University of Rome in 1995, she continued her education by taking a Master's Degree in Economy and Management of Financial and Insurance intermediaries at the LUISS Business School of Rome.

She began working with ABI in the Finance Sector for the Euro Project (‘96-’98), after which she joined the start-up team at Wind Telecommunications in the Finance Department.

In 2001, she returned to ABI to see to its start-up process for the Interbank Corporate Banking project (ACBI) and took on the role of Manager of the Technical Secretariat. Then, when ACBI turned into Consorzio CBI in 2008, she became its General Secretary. Due to the large number of innovative contributions made, she was appointed as Chief Executive Officer in 2011.

She also holds various national and international appointments: she is the Chairwoman of the Working Group entitled “Financial Services” of the National Strategic Table on International Trade Facilitation and was appointed with a Decree issued by the Italian Ministry of Economic Development on 11 December 2017; she is a UN delegate at UNECE-UN/CEFACT acting as Domain Coordinator Finance in the PDA (Program Development Area) Supply Chain and for the same body UN/CEFACT, “Liaison UN/CEFACT at ISO TC68 Financial Services”; she is a member of the Board of ISO20022 RMG (Registration Management Group). In 2008, she was also a member of the European Commission and belonged to the Expert Group on E-Invoicing, helping to draw up the first final report on e-Invoicing.

She also belongs to the Scientific Committee EURISPES and is a member of the Board of the Civita Association. 

Liliana Fratini Passi is an expert on all matters related to e-payments, the financial-value chain and Big-Data analytics, but also on matters regarding the gender gap in the financial sector.

Scientific results

Here follows a list of some of the innovation projects carried out under her responsibility over the past few years:

·         2017- ongoing: as regards the PSD2 Directive, the Consorzio CBI has been tasked with – on behalf of the Italian banking industry – all standardisation activities and with setting up a cooperative gateway, called CBI Globe (www.cbiglobe.com), aimed at interconnecting Third Parties and account-servicing payment-service providers (otherwise known as ASPSPs)

·         2017: development of a CBI Big-Data cooperative service aimed at boosting the predictive capabilities of banks, and development of a Mutuitel service together with Notartel

·         2016: upgrading and extension of the CBILL Service interconnected with pagoPA. CBILL (www.cbill.it) allows online payments as well as the consultation of bills and notices to pay

·         2013: launch of “PA Invoice” function

Editorial work and publications

She has authored numerous articles offering insights into these topics which have been published on financial journals and dailies both on an Italian national and international level:

(2018) Fratini Passi L. An open banking ecosystem to survive the revised Payment Services Directive: Connecting international banks and FinTechs with the CBI Globe platform.Journal of Payments Strategy and Systems Volume 12 Number 4

 (2017) Fratini Passi L. The Italian finance industry sustains the digitalisation of the Public Administration-business-citizen relationship: electronic invoicing and CBILL service. Journal of Payments Strategy and Systems, 9, 1

(2017) Fratini Passi L. The CBILL service: e-payments for the digitalisation of the Nation. MK n. 5

As from March 2015: running a feature blog on subjects relating to digitalisation, e-payments and the modernisation process of the Public Administration. For the magazine entitled www.leurispes.it - the online Eurispes journal (Institute of Political, Economic and Social Studies)

Contribution to two in-depth articles by Sole 24 Ore on the subject of Electronic Invoicing (11 March 2015 and 28 May 2014)

(2012) Fratini Passi L. Banks and new trends on the issue of the dematerialisation of the order-payment cycle Bancaria Editrice

(2012) Fratini Passi L. La Fattura elettronica in Italia e nel mondo: mercato e principali trend in corso, Bancaria Editrice

Awards and prizes

She was honoured with the “La colomba della Cività” [The Dove of Civilization] Award in December 2013 from the “Alba del Terzo Millennio” [Dawn of the Third Millennium] Association “In recognition of professional activities promoted in recent years in favour of the Italian banking system with special regard for those undertaken for the development of Consorzio CBI in the promotion of services for the dematerialisation of documents at Italian and international institutions contributing, in particular, to the innovation and modernisation of the financial-administrative-accounting processes in the Public Administration, by way of the banking system infrastructure with particular regard given to CBI, designed by the Italian Banking Association and under whose aegis Consorzio CBI expresses its mission”.

Anna Gervasoni
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Economy and Finance area

Competences: corporate finance, entrepreneurship, venture capital

Keywords: private banking, private equity, startup, venture capital

Region: Lombardy


Position/Role

Full Professor of Business Economics and Management at LIUC Cattaneo University. General Manager of AIFI, Italian Private Equity, Venture Capital and Private Debt Association.

Professional career

After graduating in Economics and Commerce at Bocconi University in Milan, she has been a Board Member for more than a decade in the company Idea SpA (Institute of Development in Automotive Engineering), a medium-sized family business specialized in the design for the automotive industry. She has served as statutory auditor and board member in listed and non-listed companies including: Saipem SpA, Same Deutz-Fahr SpA, Mittel SpA. She has actively collaborated with Confindustria as a member of the “Innovation” Committee and the “Infrastructures, Logistics and Mobility” Technical Committee. She has actively worked with the Milan Chamber of Commerce on issues related to the financing and development of small and medium-sized enterprises and with reference to the Observatory on Transport, Environment and Infrastructures. From 1985 to 2001, she collaborated with Bocconi University, where since 1989 she has been Adjunct Professor of Business Economics and Management, specialized in the issue of finance for small and medium-sized businesses. She has actively cooperated with the “Institute of Studies and Research A. Lorenzetti” in the same University. First Researcher at the Faculty of Economics of LIUC Cattaneo University, then Associate Professor of Business Economics and Management (SECS-P / 08), from January 2011 she won the competition for a place as Full Professor of Business Economics and Management (SECS- P / 08). She holds many business finance courses. As regards the post-graduate training proposal, she is Director of Master Degree in Merchant Banking and Private Capital. She is Director of Center for Development and Innovation of LIUC Business School. She chairs the Scientific Committee of the Private Equity Monitor - PEM Observatory and the Venture Capital Monitor - VEM Observatory, active in the same University.

 

Scientific results

Her research activity mainly concerns the field of corporate finance, with particular reference to alternative financing instruments for companies, such as private equity, venture capital and private debt. In particular, even through some active observatories at the LIUC Cattaneo University, she is involved in analyzing the Italian private capital market and its main characteristics. Within this sphere, great attention is devolved to the start-up chain and to the related financing tools. Another field of research is focused on private banking, with a constant monitoring of the whole industry and of some of its peculiar characteristics, as well as with the analysis of some relevant and meaningful issues.

Editorial work and publications

Anna Gervasoni is the author of over 50 publications, including:

·         Manuale internazionale: Private equity and venture capital, edited by Anna Gervasoni, London, Risk Books, June 2014.

·         Dieci lezioni di finanza d’impresa. Business e impresa, by Anna Gervasoni, Milano. Guerini Next, ottobre 2014.

·         Come finanziare l’impresa. Oltre la banca: minibond, private equity, venture capital, crowfunding e altri strumenti, byAnna Gervasoni, Milano, Guerini Next, dicembre 2014.

·         Private equity e venture capital. Manuale di investimento nel capitale di rischio, by Anna Gervasoni and Fabio L. Sattin, Milano, Guerini Next, marzo 2015).

Awards and prizes

In June 2002 she was given the Honorary title of “Ufficiale della Repubblica Italiana” by the president Carlo Azeglio Ciampi.

Mariassunta Giannetti
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Economy and Finance area

Competences: corporate finance, financial market, international finance

Keywords: finance, growth law, institutions

Region: ABROAD


Position/Role

Professor of Finance at the Stockholm School of Economics
Research Fellow at the Center for Economic Policy Research, London, UK, Financial Economics Program

Research Associate at the European Corporate Governance Institute, Brussels, Belgium

Professional career

Mariassunta Giannetti is an internationally renowned researcher, winner of numerous awards, currently professor of finance at the Stockholm School of Economics. Giannetti holds or has held a vast number of positions in the editorial boards of international newspapers and other academic organizations. She has a Ph.D. in economics from the University of California Los Angeles and she has a degree in Economic and Social Disciplines and a Masters degree from Bocconi University. She is the author of over 30 scientific articles in corporate finance published in prestigious international newspapers.

 

Scientific results

Mariassunata deals with the financing of companies for the stability of financial systems.

Editorial work and publications

(2018) Giannetti M, Kahraman B. Open-end Organizational Structures and Limits to Arbitrage.Review of Financial Studies, 31-2, 773-810; Paul Woolley Centre for the Study of Capital Market Dysfunctionality Best Paper Award, Runner Up.

(2017) Giannetti M, Favara G. Forced Asset Sales and the Concentration of Outstanding Debt: Evidence from the Mortgage Market. Journal of Finance, 72,3:1081-1118-

(2017) Giannetti M, Liberti J, Sturgess J. Information Sharing and Rating Manipulation. Review of Financial Studies, 30,9:3269–3304. 

(2016) Giannetti M, Wang T. Corporate Scandals and Household Stock Market Participation. Journal of Finance, 71, 6:2591-2636.

(2015) Giannetti M, Liao G, Yu X. The Brain Gain of Corporate Boards: Evidence from China. Journal of Finance, 70,4:1629-1682, 2015; Winner of the Sun Yefang Financial Innovation Award, 2016

(2013) Cella C, Ellul A, Giannetti M. Investors' Horizons and the Amplification of Market Shocks. Review of Financial Studies, 26,7:1607-1648 (Lead Article).

(2013) Giannetti M, Simonov A. On the real effects of bank bailouts: Micro-Evidence from Japan. American Economic Journal: Macroeconomics, 5,1:135-167.

(2012) Giannetti M, Laeven L. The Flight Home Effect: Evidence from the Syndicated Loan Market During Banking Crises. Journal of Financial Economics, 104,1:23-43.

(2012) Giannetti M, Laeven L. Flight Home, Flight Abroad, and International Credit Cycles. American Economic Review, 102, 3:219-224.

(2012) Giannetti M, YafehY.Do Cultural Differences Between Contracting Parties Matter?  Evidence from Syndicated Bank Loans. Management Science, 58,2:365-383.

(2011) Burkart M, Ellingsen T, Giannetti M. What you sell is what you lend? Explaining trade credit contracts. Review of Financial Studies, 24,4: 1261-1298.

(2009) Giannetti M, Laeven L. Pension reform, ownership structure and corporate governance: Evidence from a natural experiment. Review of Financial Studies, 22,10:4091-4127.

(2006) Giannetti M, Simonov A. Which investors fear expropriation? Evidence from investors’ portfolio choices. Journal of Finance, 61,3: 1507-1547.

Awards and prizes

Standard Life Investments Finance Prize ECGI Finance Series, 2017

Bank of England and EBRD: 6th MoFiR Workshop on Banking, keynote speaker, 2017

Rising Star in Finance (NYU-Fordham-Imperial College), 2016

Sun Yefang Financial Innovation Award, China’s highest award for economists, Beijing, 2016

European Central Bank Duisenberg Fellow, 2016-2017

European Financial Management Conference, “Merton H. Miller” keynote lecture, 2015

Best Paper Award, Journal of Financial Intermediation, 2014

18th International Conference on Macroeconomic Analysis and International Finance, Crete, Greece, keynote speaker, 2014

Swedish Economic Association Conference, Umea, keynote speaker, 2014

Assar Lindbeck Medal, awarded biennially to an outstanding young economist in Sweden, 2013

 

Laura Guazzoni
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Economy and Finance area

Competences: business economics, business valuations, corporate finance, corporate governance

Keywords: competitive strategies, internal control, value creation

Region: Lombardy


Position/Role

Member of the Board of Directors in listed and not listed companies; President or Member of several Committees within the Board of Directors; President and Member of the Board of Statutory Auditors in listed and not listed companies and public interest entities; corporate economist; academic fellow.     

Professional career

Graduated at “Bocconi University” of Milan with a degree in Management and afterwards was involved in research activities at the Research Institute about stock exchange markets “Andrea Lorenzetti” of “Bocconi University”, as well as in the professional activity consisting mainly in business valuations, corporate governance and corporate growth strategies.

Gained meaningful expertise in business and finance area with reference to business valuation, corporate governance and internal control system. Since 1991 has been cooperating with the “Bocconi University” and since 1994 has been in charge as an Academic Professor on contract of “Corporate management and business” at the said university.

During her career she has been in charge as Independent Director, President or Member of several Committees within the Board of Directors, President and Member of the Board of Statutory Auditors. She has undertaken these roles in leading renowned companies in the financial and industrial sector, both listed and not listed and public interest entities such as: Gas Plus SpA, Reno de Medici SpA, Sace BT SpA, Simest SpA, AgustaWestland SpA, CDI Centro Diagnostico Italiano SpA, Bracco Imaging Italia Srl, Campus Bio Medico SpA, Generfid SpA, Il Sole 24Ore SpA, Retelit SpA, Digital Bros SpA and ENI Group companies: Edison, Snam, Alerion.    

She has been also lecturer in several conferences upon topics such as business valuation, corporate finance and M&A deals.

Scientific results

In addition to academic and professional activity, she has been constantly committed to ongoing research activities concerning finance and business economics, with main focus on business valuation criteria, value creation leverages and corporate growth strategies.

Due to her experience gained in these years, she has also carried out in-depth studies and research about corporate governance matters with specific reference to internal control system, remuneration and incentives reports of listed companies,

In addition to business and finance advisory activities she has cooperated in relevant managing projects mainly in control and audit aiming to improve the internal control corporate processes and transparency.

Editorial work and publications

She has written and been published on business and financial newspapers and books, regarding business valuation, intangible assets appraisal, fair value, financial reports as listed below:

·         “Il fair value” in “Bilancio e reddito d’impresa” – Conti, Costanzo, Novati, Priori – Egea 2005;

·         “La valutazione dei beni immateriali legati alla tecnologia: i progetti di ricerca e sviluppo nel settore farmaceutico” – L. Guazzoni and A. Grando in “La valutazione delle aziende” n. 4/97;

·         “Cenni sulla stima dei beni immateriali nella valutazione delle aziende” on “Newsletter Lorenzetti” n. 2/97;

·         “I mercati finanziari internazionali” – M. Dallocchio and A. Dessy – IPSOA 1995;

·         “I mercati mobiliari locali” (concerning US markets) – Working paper 1993;

·         “L’informativa economic-finanziaria e il mercato mobiliare: le modalità di propagazione delle informazioni” – Working paper 1992.

 

 

Elisabetta Iossa
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Economy and Finance area

Competences: economy of public services, economy of regulation

Keywords: innovation, procurement, public-private partnership

Region: Lazio


Position/Role

Full Professor of Economics and Coordinator of the Research Center in Procurement and Supply Chain, Proxenter, of the University of Rome Tor Vergata (proxenter, www.proxenter.it).

Professional career

Elisabetta Iossa is Full Professor of Economics at the University of Rome Tor Vergata, Research Fellow of the Center   for Economic Policy Research in London (CEPR) and of GREEN-Bocconi. She is also Director of the Research Center in Procurement and Supply Chain, Proxenter (www.proxenter.it) and Coordinator of the Master of Science in European Economy and Business Law of the University of Rome Tor Vergata. Prior to returning to Italy, she worked for more than 10 years at Brunel University in West London and for two years at ECARES, Université Libre de Bruxelles in Brussels. She has been Visiting Scholar at Harvard, Toulouse School of Eonomics and Università Cattolica of Milan, among others.

Scientific results

Her main research interests are in applied economic theory, with particular focus on public procurement, procurement of innovation and public-private partnerships, and on regulation of public services. On these topics, she has advised international institutions such as UK Competition Commission, European Commission, UK Financial Service Authority, OECD, Office of Fair Trading, IFAD-United Nations and World Bank. She has published in numerous international journals, including Economic Journal, Games and Economic Behaviour, International Journal of Industrial Organization, Journal of European Economic Association, Journal of Industrial Economics, Journal of Public Economics, Rand Journal of Economics, among others. Further details are available on https://sites.google.com/site/profelisabettaiossa/

As of December 2017, she appears among the top 5-7% Italian economists according to the REPEC ranking. She has more than 2000 citations on google scholar.

Editorial work and publications

She has published extensively in numerous international journals. For a full list see her personal website https://sites.google.com/site/profelisabettaiossa/

1.      Iossa, Elisabetta and Stephane Saussier (2018), Public Private Partnerships in Europe for Building and Managing Public Infrastructures: An Economic Perspective. Annals of Public and Cooperative Economics. (Invited paper). Vol. 89, 1.

2.      Iossa, Elisabetta, Biagi, Federico and Valbonesi Paola (Forthcoming) Pre-commercial Procurement, Procurement of Innovative Solutions and Innovation Partnerships in the EU: Rationale and Strategy. Economics of Innovation and New Technology

3.      Iossa, Elisabetta and Mike Waterson (Forthcoming) “Maintaining Dynamic Competition in Procurement: The Case of London Bus Tendering”. Transport Policy.

4.      Iossa, Elisabetta and David Martimort (2016), “Corruption in PPPs, Incentives and Contract Incompleteness,”. International Journal of Industrial Organization, 44: 85–100.

5.      Iossa, Elisabetta and David Martimort (2015), “Pessimistic Information Gathering,”. Games and Economic Behavior 91, 2015, 75 – 96.

6.      Iossa, Elisabetta and David Martimort (2015), “The Simple Micro-Economics of Public Private Partnerships, with David Martimort, 2015.Journal of Public Economic Theory, 17, (1), 4–48.

7.      Iossa, Elisabetta and Patrick Rey (2014), ‘Building Reputation for Contract Renewal: Implications for Performance Dynamic and Contract Duration, Journal of the European Economic Association, 2014, 12(3), 549–574.

8.      Iossa, Elisabetta and Bruno Jullien (2012), ‘The Market for Lawyers and the Quality of Legal Services’, RAND Journal of Economics, 43(4), 677-704.

9.      Iossa, Elisabetta and David Martimort (2012), "Risk Allocation and the Costs and Benefits of Public-Private Partnerships," RAND Journal of Economics, 43(3), pp: 442-474.

10.   ‘Crowding Out Public Sector Motivation, with Yannis Georgellis, and Vurain Tabvuma, Journal of Public Administration Research and Theory, 2011, 21(3): pp: 473-493.

11.   “Building and Managing Facilities for Public Services”, with John Bennett. Journal of Public Economics, 2006, vol.  90 (10-11), pp. 2143-2160.

12.   “Auditing and Property Rights”, with Patrick Legros. RAND Journal of Economics, 2004, vol. 35, pp. 356-372.

13.   “Price Cap Regulation and Information Acquisition”, with Francesca. Stroffolini. International Journal of Industrial Organization, 20(7), 2002, pp.1013-1036.

14.  “Informative Externalities and Pricing in Regulated Multiproduct Industries”, Journal of Industrial Economics, 1999, vol. 47(2), pp.195-219.

15.  “Price Caps and Output Floors: a Comparison of Simple Regulatory Rules”, with Gianni De Fraja. Economic Journal, 1998, vol. 108, n.450, pp.1404-1421.

 

Fiorella Kostoris Padoa Schioppa
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Economy and Finance area

Competences: bank economy, political economy

Keywords: economy, equal pay, university, women, work

Region: Lazio


Position/Role

Economist, Full Professor emeritus of Economics at the University of Rome “La Sapienza”. Currently Professor of Economics of the Public Sector in the Master Course of the Department of Political Science.

Professional career

After studying at the Department of Economics of the University of Trieste for two years under the direction of Prof. Renato Zangheri, she got her Bachelor Degree (Laurea) in Economics (magna cum laude plus dignità di stampa) in Milan at the Department of Economics of the Bocconi University in 1968. In that same year she entered the MIT Graduate School of Economics, that she left in 1970 for family reasons, after obtaining a top-score Master of Science in Economics (passed with honour). She started teaching when she was 25. In 1980, after becoming Assistant Professor of Economics at the Department of Statistics of the University of Rome “La Sapienza” (Prof. Paolo Sylos Labini and Prof. Luigi Spaventa) and Associate Professor of Economics of Banking in the same Department, she became Full Professor of Economics at the Department of Economics of the University of Trieste (1980-1983), then at the Rome Postgraduate School for Public Administration and at the Rome Private University LUISS (Department of Economics, 1983-1984, and Department of Law, 1984-1992). In 1989, she became Full Professor of Economics at the Department of Economics of the University of Rome “La Sapienza”, where she remained until 2011, though she was on leave in the last 7 years as member of CIVR (Committee assessing the quality of universities and research bodies in Italy). In 2011 she was appointed  as member of the Board of Directors of ANVUR (the Italian Agency for the evaluation of universities and research institutes).

In 2014 she was co-founder and first President of the Progressive Jewish Community of Rome, Beth Hillel, within the European Union of Progressive Judaism. In 2017 she obtained a Master in Jewish Studies and Communication at UCEI – Union of the Italian Jewish Communities in Rome, “magna cum laude + auspicio di stampa”. She has been volunteer in the clown therapy Banda Faclò at the Rome Paediatric Hospital Bambino Gesù since 2016.

She worked in many foreign Universities, ranging from MIT to the University of Louvain-la-Neuve, Oxford, Columbia University of New York, Harvard, Washington DC. She tought at the Université Libre de Bruxelles, at the Fondation Nationale de Sciences Politiques in Paris, at the Columbia University, at the College of Europe in Bruges From 2010 to 2014 she was one of the 7 Members of the Economic Expert Group created by the Educational Testing Service (ETS) of Princeton.

Since 2016 she has been member of the Steering Committee of Santa Chiara Lab Centre of the University of Siena, as well as member of the Steering Committee  of the University-Business Observatory of CRUI Foundation - Conferenza dei Rettori delle Università Italiane, Rome.Since 2017 she is member of the Advisory Board for the monitoring of the Economics Department Activity of the University of Catania.

She headed economic research institutes and was consultant of private and public bodies and institutions. She also dedicated herself to popularizing the economic theory, namely she directed the Economics Book Series for the Italian Publisher Ulrico Hoepli and  was also author and speaker of the weekly Radio Broadcast Lessico dell’economia for Radio Radicale  in 5 semesters from 2003 to 2008.  then publishing the texts in 5 volumes for Luiss University Press and each week on the Italian newspaper Il Riformista. She has been director of the Dictionary of Economics and Finance for the Enciclopedia Treccani.She has been member of the Steering Committee  of the University-Business Observatory of CRUI Foundation - Conferenza dei Rettori delle Università Italiane, Rome since 2016.He is editorialist of the Italian newspaper Il Sole 24 Ore.

With reference to research, she was President of ISPE - Istituto di Studi per la Programmazione Economica -  from 1993 to 1998, and President of ISAE - Istituto di Studi e Analisi Economica – from 1999 to 2003 with the double role of CEO and Director of Research. In those same years she was member of the Coordination Committee of the Presidents of the Italian Research Institutes. She played many roles as scientific coordinator for the Italian National Research Council, CNR – Consiglio Nazionale delle Ricerche -,  in particular she was Vice-Coordinator  for  Prof. Franco Modigliani in the Strategic Project  Il risanamento della finanza pubblica in Italia from 1992 to 1997. Fiorella Kostoris was member of the Technical Secretary of the Italian Minister for Education, University and Research, Letizia Moratti, in 2003-06; Economic Advisor  to Riccardo Illy,  President of the Italian Administrative Region Friuli-Venezia Giulia in 2005; member of the Commission set up by the Italian Minister  for Public Administration and Innovation, Renato Brunetta, to harmonize the retirement age of male and female civil servants in 2009. Since 2016 she is member of the Comitato di Riflessione e Indirizzo strategico – i.e. Strategic Planning Committee - of the Italian Ministry of Foreign Affairs and International Cooperation. She was Member of CAE - Conseil d’Analyse Économique of the French Prime Minister -, appointed by Mr. Jospin, confirmed by Mr. Raffarin, Paris from 1999 to 2004.

She was member of many Steering Committees, among which those of Aspen Institute Italia (since 1994), the Scientific Committees of Confindustria (1998-2000) and Italia Lavoro Spa (1999-2010). She was member of the Board of Directors of the Fondo etico BNLin theBanca Nazionale del Lavorofor Telethon in 2002-07; Advisor to Unicredit Banca Impresa in 2005; President of Sella Gestioni SGR Spain 2007-09, after being member of its Board of Directors in 2005-2006 and then Advisor to the Banca Sella Holding Group in 2009. Since 2015 she has been member of the Board of Directors of the Monte dei Paschi di Siena. Within the Monte dei Paschi, she has been  member of the Supervisory Board (2015-2017), member of the Related-Party Transactions Committee since 2015 and from 2015 to 2018 also President of that Committee. She has also been member of the Compensation Committee since 2017 and in 2018 became President of the Remuneration Committee of Monte dei Paschi di Siena.

Scientific results

Fiorella Kostoris’ research has been focusing on policy-oriented economic analysis. Her major interest lies in the analysis of the Italian economic policy and public finance, as well as in the pension system reforms and in the General Government debt at national, regional and municipal level, also in view of possible privatizations. Her job hinged on the labour market analysis by comparing Italy and other European and world countries, with reference to the public and private sectors and to the weak population groups, namely young people, women, developing regions, migration flows. She studied European macroeconomic topics: from the principle of the mutual recognition in the 4-freedom European system, to the Stability and Growth Pact and to Fiscal Compact. She has been examining the research and teaching quality outcomes, soft skills, generalist competences, learning outcomes in a strategic sector such as University. She has always carried out her research activity alongside with her commitment against segregation, lack of opportunities and poor meritocracy for female workers in Italy.

Her commitment in favour of female workers is underlined by her studies on solutions to improve the life and job quality of women and in her participation to national initiatives and projects.

Editorial work and publications

Fiorella Kostoris Padoa Schioppa has published many books and articles, among which a whole series on gender economics, namely:

(2009) Kostoris F. L’età pensionabile femminile e i problemi strutturali della donna italiana nel mercato del lavoro, in Bonino E. (ed.), Pensionata sarà lei, Catanzaro, Rubettino Editore, 2009, pp. 31-36.

(2009) Kostoris F. A proposito di donne e di pensioni. Formiche, VI, 35, p. 53.

(2008) Kostoris F. Occupazione femminile: una leva per la competitività, Fondazione Universitaria Marco Biagi, Adapt, 2, 3 March 2008, www.fmb.unimore.it/on-line/Home/NewsletterBollettinoAdapt/ IDossierdiAdapt.html.

(2008) Kostoris F. Le politiche per la donna nel mercato del lavoro italiano. Diritto delle Relazioni Industriali, 2, XVIII, pp. 479-490.

(2007) Kostoris F. La donna lavoratrice a 60 anni dalla Costituzione Italiana. Rivista di Politica Economica, VII-VIII, pp. 135-225.

(2007) Kostoris F. Le pensioni delle donne, le pensioni degli uomini: privilegi, parità, giusti sostegni e compensazioni. TFR, Pensioni, Fondi Pensione, Annex to n. 23 of Panorama Economy.

(1995) Kostoris F. Is There Female Parity in the Italian Labour Market?ISPE Documenti di Lavoro, 20.

(1994) Kostoris F. Retribuzione femminile: parità formale, disparità sostanziale nel pubblico e nel privato fra lavoratori e lavoratrici oggi in Italia. Commissione Nazionale per la Parità e le Pari Opportunità tra Uomo e Donna (ed.), Atti del Convegno Nazionale Ruolo e Prospettive delle Donne nell'Economia, Rome, Istituto Poligrafico e Zecca dello Stato, 1994, pp. 9-59.

(1979) Kostoris F. Assenteismo e turnover nell'occupazione femminile. Un confronto fra l'Italia e gli Stati Uniti. Queste Istituzioni, 29, pp. 23-45.

(1974) Kostoris F. La forza lavoro femminile, Bologna, il Mulino.

 

 

Awards and prizes

Fiorella Kostoris Padoa Schioppa was nominated Grande Ufficiale al Meritoof the Italian Republic  by the President of the Republic of Italy in 2000; she was also nominated Officier dans l’Ordre National de la Légion d’Honneurby the French President Chirac in 2001; she received the “Premio Capalbio” Award for Economic Policy for her book Lessico dell’Economiain 2004.

For her civil and scientific committment, Fiorella Kostoris Padoa Schioppa was granted the “Donna Ande - Giuliana Florio” Award, Section of Trieste, Udine and Gorizia in 1998, the Award for “Donne Dirigenti d’Azienda Italiane” in 2000, and the “Marisa Bellisario” Award for Finance and Economics in 2001.

 

 

 

Rosella Levaggi
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Economy and Finance area

Competences: drug economy, environmental economy, health economics, public economics

Keywords: corruption, drug price regulation, federalism, hospital competition, pharmaceutical market, tax evasion

Region: Lombardy


Position/Role

Chair in Public Economics at the University of Brescia

Professional career

BA in Economics at the University of Genova (Italy) followed by a Master in Social Science and a D.Phil in Economics at the University of York (UK). Since 2000 she has a chair in Public Economics at the University of Brescia. From 2009 to 2014 she was in the Board of SIEP (Società Italiana di Economia Pubblica), from 2012 to 2014 she is Vice President. She is Associated Editor of Health Economics, Editor of PLOS ONE and Associate Member of CIRIEC Scientific Committee.

Scientific results

Public economics and regulation are the main themes of my academic production from fiscal federalism (with particular reference to the problems of determining the relationship between spending and grants-in-aid in a context of asymmetry of information) to the design of optimal contract for health care (primary care, hospital care, emergency admissions)

 

More recently, the focus of my research has been on issues related to competition between public and private hospitals, the effects of fiscal federalism in health care, patient mobility at national and European level, soft budget constraint policies. Alongside these more traditional themes, my new area of interest is the study of incentives for innovation in health care, precision medicine, drug price regulation and its effects on innovation. Another important and relevant theme for its policy implications concerns the study of tax evasion, in particular in a dynamic context where the long-term effects of such behaviour may have important consequences on assett allocation and economic growth.          A network of collaborations with economists around the world and colleagues and scholars of other disciplines has made these activities possible.

Editorial work and publications

Author of about 150 scientific publications. The 5 most relevant publications  in the past five years

(2018) Levaggi, L.; Levaggi, R. & Trecroci, C. (2018) Decentralisation and waste flows: A welfare approach, Journal of Environmental Management, Elsevier BV, 2018, 217, 969-979

(2016) Brekke KR, Levaggi R, Siciliani L, Straume OR. Patient mobility and health care quality when regions and patients differ in income. Journal of Health Economics, 50:372-387.

(2016) Levaggi R, Menoncin F. Optimal Dynamic Tax Evasion: A Portfolio Approach. Journal of Economic Behavior & Organisation, 114:115-129.

(2015) Frischut M, Levaggi R. Patient mobility in the context of austerity and an enlarged EU: The European Court of Justice’s ruling in the Petru Case. Health Policy, 119(10):1293-1297.

 (2014) Levaggi R. Pricing schemes for new drugs: A welfare analysis. Social Science and Medicine, 102:69-73.

 

Maria Vittoria Levati
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Economy and Finance area

Competences: microeconomics

Keywords: behavioral economics, bounded rationality, experimental economics, game theory

Region: Veneto


Position/Role

Full Professor of Political Economy at the University of Verona

Professional career

After graduating in Economics and Banking at the University of Siena in 1993, she continued her education with a master's degree in Economics at the Bocconi University in Milan (1995) and a PhD in Economics at the University of York, UK (2000). From 2001 to 2007 she was a researcher at the Max Planck Institute of Economics in Jena (Germany) and from 2008 to the 2012 Research Group Leader / W2 Professor at the same research institute. In 2008 she won one of the Minerva positions offered by the Max Planck Society to support the search for excellent women. In 2011 she moved to the Economics Department of the University of Verona where she became a full professor in 2015.

Scientific results

Maria Vittoria Levati's research activity takes place within the experimental and behavioral economy and responds to the need to contribute to the understanding of economic behavior through (controlled) laboratory and field experiments. Particular attention is paid to the use of game theory to elaborate sophisticated models of choice, alternative to the widely used homo oeconomicus model. One of her main interests was understanding and shaping the phenomenon of voluntary contribution, often found both in the laboratory and in real life. The fact that people vote, take part in collective actions, take care of the environment and donate to charitable organizations suggests that the rigid hypothesis of self-interested behavior is not pervasive, although the results of collective action are far from being optimal. The objective of her research was on the one hand to analyze the behavior of individuals in the presence of so-called social dilemmas; on the other, to identify institutional mechanisms that promote the social optimum. Another of her strands of research has focused on the theory of bounded rationality and, in particular, on the fundamental concept of the theory of Herbert Simon, or on the "satisficing", a compound term of satisfy (satisfying) and suffix (to be sufficient). In this context, together with her collaborators, she generalized and applied the concept to contexts with strategic interaction, in particular to finished games with n. players.

Editorial work and publications

She is the author of numerous publications, including:

(forthcoming) Conte A, Levati MV, Nardi C. Risk preferences and the role of emotions. Economica.

(2017) Levati MV, Napel S, Soraperra I. Collective choices under ambiguity. Group Decision and Negotiation, 26:133-149.

(2015) Güth W, Levati MV, Soraperra I. Common and private signals in public goods games with a point of no return. Resource and Energy Economics, 41:164-184.

(2014) Güth W, Koukoumelis A, Levati MV, Ploner M. Providing revenue-generating projects under a fair mechanism: an experimental analysis. Journal of Economic Behavior & Organization, 108:410-419.

(2014) Levati MV, Nicholas A, Rai B. Testing the single-peakedness of other-regarding preferences. European Economic Review, 67:197-209.

(2014), Güth W, Levati MV, Montinari N. Ranking alternatives by a fair bidding rule: a theoretical and experimental analysis. European Journal of Political Economy, 34:206-221.

(2014) Conte A, Levati MV. Use of data on planned contributions and stated beliefs in the measurement of social preferences. Theory and Decision, 76:201-223.

(2012), Levati MV, Qiu J, Mahagaonkar P, Testing the Modigliani-Miller theorem directly in the lab. Experimental Economics, 15:693-716.

(2012), Güth W, Levati MV,  Ploner M. Satisficing and prior-free optimality in price competition. Economic Inquiry, 50:470-483.

(2012) Koukoumelis A, Levati MV, Weisser J. Leading by words: a voluntary contribution experiment with one-way communication. Journal of Economic Behavior & Organization, 81:379-390.

(2011) Levati MV, Miettinen T, Rai B. Context and interpretation in laboratory experiments: the case of reciprocity. Journal of Economic Psychology, 32:846-856.

(2010) Güth W, Levati MV, Ploner M. Satisficing in strategic environments: A theoretical approach and experimental evidence. Journal of Socio-Economics, 39:554-561.

(2009) Güth W, Levati MV, Ploner M. An experimental analysis of satisficing in saving decisions. Journal of Mathematical Psychology, 53:265-272.

(2009) Levati MV, Fiore A, Morone A. Voluntary contributions with imperfect information: An experimental study. Public Choice, 138:199-216.

(2008) Brennan G, Gonzalez L, Güth W, Levati MV. Attitudes toward private and collective risks in individual and strategic choice situations. Journal of Economic Behavior & Organization, 67:253-262.

(2008) Güth W, Levati MV, Ploner M. On the social dimension of time and risk preferences: An experimental study. Economic Inquiry, 46:261-272.

Awards and prizes

Maria Vittoria Levati is co-director of the experimental economics laboratory (Verona Experimental Laboratory in Economics, VELE) of the University of Verona. In 2008 she won one of the Minerva positions that are offered by the Max Planck Society to excellent researchers in their field. She was invited to hold seminars at the Liberty Fund Conference (London), the University of Sheffield, the Frankfurt School of Finance and Management, the University of Siena and the Free University of Bolzano.

Francesca Lotti
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Economy and Finance area

Competences: applied economics, economic policy, industrial economics, labor economics, political economy

Keywords: entrepreneurship, innovation, productivity

Region: Lazio


Position/Role

Senior Advisor at the DG Economics and Statistics of the Bank of Italy, Head of the Production Structure Sector and Enterprises of the Economic Structure and Labor Market Division. Contract Professor of Industrial Dynamics and Labor Economics at the Department of Economics and Management of the Free International University of Social Studies (LUISS).

Professional career

After graduating in Statistical and Economic Sciences at the University of Bologna in 1997, she continued her education with a PhDs in Economics at the Sant'Anna Superiore University School (Pisa), during which she was a visiting student at the Department of economics of Harvard University (US) and visiting fellow at the National Bureau of Economic Research (NBER, US). Assumed at the Research Department of the Bank of Italy in 2002, she first served the Credit Intermediaries Office, then the Sectoral and Territorial Analysis Office, later merged into the Division of Economic Structure and Labor Market. In 2007-2008 she was a visiting scholar at Harvard University and in 2008-2009 a consultant for the Ministry of Economic Development for industrial policies and related assessment.

Scientific results

Francesca Lotti's research activity is mainly carried out in the field of industrial economics and applied economics, with particular attention to technological change, the choices of companies in terms of growth, investments and innovation, the dynamics of productivity and its determinants. In these areas, she also investigated economic policies and the related ex-post evaluation, a topic on which she also wrote a book published by Il Mulino ("The evaluation of aid to businesses", edited by G. De Blasio, Il Mulino, 2008). Another area of her research concerns the role of women in the economy, with contributions on gender discrimination in the credit market, on gender differences in business management and more generally in the labor market.

Editorial work and publications

Francesca Lotti is a member of the Advisory Board of the Journal of Industrial and Business Economics. She is the author of numerous publications, including:

(2017) Lotti F, Marin G. Productivity Effects of Eco-innovations Using Data on Eco-patents. Industrial and Corporate Change, 26(1):125–148.

(2013) Alesina A, Lotti F, Mistrulli PE. Do Women Pay More for Credit? Evidence from Italy, in Journal of the European Economic Association,  11(s1):45-66.

(2013) Hall BH, Lotti F e Mairesse J. Evidence on the Impact of R&D and ICT Investment on Innovation and Productivity in Italian Firms. Economics of Innovation and New Technology, 22(3):300-328.

(2009) Hall BH, Lotti F e Mairesse J. Innovation and Productivity in SMEs. Empirical Evidence for Italy. Small Business Economics, 33(1):13-33.

(2008) Hall BH, Lotti F e Mairesse J. Employment, Innovation and Productivity: Evidence from Italian Manufacturing Microdata. Industrial and Corporate Change, 17(4):813-839.

(2007) Lotti F. Firm Dynamics in Manufacturing and Services: a Broken Mirror? Industrial and Corporate Change, 16(3):347-369.

(2007) Lotti F, Marcucci J. Revisiting the Empirical Evidence on Firms' Money Demand, Journal of Economics and Business, 59(1):51-73.

(2006) Bofondi M, Lotti F. Innovation in the Retail Banking Industry: the Diffusion of Credit Scoring Review of Industrial Organization, 28(4):343-358.

(2005)  Lotti F, Santarelli E. The Survival of Family Firms: The Importance of Control and Family Ties, International Journal of the Economics of Business, 12(2), pp. 183-192.

(2004) Gobbi G, Lotti F. Entry Decisions and Adverse Selection: an Empirical Analysis of Local Credit Markets, Journal of Financial Services Research, 26(3):225-244.

(2004) Lotti F, Santarelli E. Industry Dynamics and the Distribution of Firm Sizes: A Non Parametric Approach, Southern Economic Journal, 70(3):443-466.

(2003) Lotti F, Santarelli E, Vivarelli M. Does Gibrat's Law Hold in the Case of Young, Small Firms?, Journal of Evolutionary Economics, 13:213-235.

Awards and prizes

Francesca Lotti is top 5% of women economists worldwide According to the Repec ranking. Qualified as first level professor in Economic Policy (SECS-P02), Applied Economics (SECS-P04) and Economic Statistics (SECS-S03), she is external reviewer for the VQR (Evaluation for Research Quality) 2011-2014 (GEV 13) of the ANVUR (the National Agency for the Evaluation of the University and Research System).

 

Roberta Marracino
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Economy and Finance area

Competences: banking business, business economics, finance, insurance business, macroeconomics

Keywords: banking strategy, gender policies, youth unemployment

Region: Lombardy


Position/Role

Executive Director, Studies, Communication, CSV and Education to Export Area - SACE Spa (Cdp Group) Member of the Board of Directors and member of the Control and Risk Committee - BPER Banca

Professional career

After graduating in Economics and Commerce at the University of Trieste in 1991, she obtained an MBA in International Business at the MIB School of Management. She spent about sixteen years at McKinsey & Company, first as an analyst in the banking and financial sector, then as head of the Research Department for Italy and coordinator of the European team of banking sector analysts, later as Director of Research and Communication for the Mediterranean area (Italy, Turkey, Greece, Iberia). She was also Head of Strategic Analysis of Gemini Consulting (Cap Gemini Ernst & Young Group) and of the Banca Nazionale del Lavoro. Since 2014 she has been Director of SACE Studies, Communication, Corporate Social Value and Education to Export (Cdp Group). In this role she dealt with the assessment of country risk and business opportunities in advanced and emerging markets and provides binding opinions on financing requests and guarantees that require coverage from political and sovereign risk. She also develops export education and internationalization formats for Italian SMEs and oversees internal, external and social responsibility activities. Since 2017 she has been a Director and a member of the BPER Banca Control and Risk Committee. She was the founder of the Valore D association, which today brings together about 170 companies with the common goal of eliminating the barriers to the growth of female talent, and promoted the launch of "Push to Open", a program dedicated to training and work orientation of 17-18 year olds (4,500 students involved from 2015 to present).

Scientific results

Roberta Marracino's research activity has focused on four areas. The first area of ​​study concerns the exploration of the growth vectors of the European and Italian economy, in the absence of fiscal stimuli, limited by high debt and a high public deficit. Starting from the analysis of the determinants of the wealth gap between Europe and the United States both on the demand and supply side and drawing on the best practices of other European countries, an agenda of reforms is proposed to be put in place to improve the prospects for long-term growth of the old continent. The second area concerns the enhancement of subsidiary welfare solutions, in terms of economic benefit for companies and employees. In the presence of unfavorable demographic dynamics, increase in female employment, public assistance system and social protection limited by budget constraints, the analysis shows that it is possible for companies to make a positive contribution to the demand for welfare, making the intervention beneficial. also from an economic point of view. The third strand delves into the causes of youth unemployment in Italy, which for 40% has a structural nature attributable to three factors: the quantitative imbalance between business demand and youth choices; the lack of skills adapted to the needs of the economic system; the inadequacy of job search channels. Finally, the analysis of risks and opportunities for Italian companies dealing with foreign markets, which led to the development of the Risk & Export Map, with details of specific credit risk indices, political risk, export opportunity and investment opportunity for 198 countries and for the production of the annual Italian export forecast report.

Editorial work and publications

She is the author of numerous publications, including:

(2017)            Baldassarre G, Ciabattoni P, Gorissen S, Marracino R, Moneta L, Terzulli A.Export Unchained. Dove la crescita attende il Made in Italy. Rapporto Export 2017/2020, SACE Spa-

(2016)            Baldassarre G,  Gorissen S, Lucano C, Marracino R, Moneta L, Terzulli A.Re-Action. Export Calling. Rapporto Export 2016/2019, SACE Spa.

(2015) Gorissen S, Iadanza A, Marracino R, Moneta L, Padoan E, Terzulli A. Re-Start. Rapporto Export 2015/2018, SACE Spa.

(2014) Marracino R. Alla ricerca della crescita perduta. Opportunità e ritorni di un'Italia più internazionale, SACE Spa.

(2014) Castellano A, Kastorinis X, Lancellotti R, Marracino R, Villani L. Studio Ergo Lavoro. Come facilitare la transizione scuola-lavoro per ridurre in modo strutturale la disoccupazione giovanile in Italia, McKinsey & Company.

(2014) Occupazione-Istruzione-Educazione: le trappole nascoste nel percorso delle ragazze verso il lavoro
R. Marracino, McKinsey & Company

(2013) Marracino R, Rizzi F, Toia L. Il welfare sussidiario: un vantaggio per aziende e dipendenti, McKinsey & Company, Valore D.

(2013) Marracino R, Spreafico C, Terzi V, Turconi A. Investire nella crescita: Idee per rilanciare l'Italia, McKinsey & Company.

(2011) Marracino R, Santorsola G, Terzi V,  Coniugare austerità e crescita economica in Europa: uno sguardo all'Italia, McKinsey & Company.

Awards and prizes

In 2004 she was awarded the "Alumnus of the Year" award by the MIB School of Management, the first woman to receive this award for professional and career results. In 2012 she was included in the "Ready for Board Women" list of the Professional Women Association and among the 1,000 excellent resumes of the Bellisario Foundation. In 2013 she received the 2013 Merit and Talent Award from Aldai-Federmanager.

 

Chiara Monfardini
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Economy and Finance area

Competences: econometrics, family economy, labor economics

Keywords: children, gender economy, teenagers, time

Region: Emilia-Romagna


Position/Role

Full Professor  of Econometrics at  University of Bologna

Professional career

After her bachelor at University of Padua in Economics and Statistics Sciences in  1992 she was awarded her Phd in Econoomics  at  European University Institute in 1997. Since 2001 she is researcher and since 2005 she is professor of Econometrics at  University of Bologna  She has a great experience in teaching Econometrics in degree and Phd courses, with theoretical and applicated contents approche. She is associated with several research centers: Institute for the Study of Labor ﴾IZA, Bonn﴿; Centre for Household, Income, Labour and Demographic Economics at Collegio Carlo Alberto ﴾CHILD‐CCA, Torino﴿; Health, Econometrics and Data Group ﴾HEDG, York). Recently, she was member of several scientific commetees of international and national meetings (European Society for Population Economics, 2017; Italian Workshop of Econometrics and Empirical Economics, 2018;  Italian Congress of Econometrics and Empirical Economics, 2017). 

In recent years she has been part of the following research groups that have obtained competitive funding: 2018-2019: principal investigator of the Bologna unit of the European project H2020 "European Cohort Development Survey", coordinated by Manchester Metropolitan University; 2013-2016: external co-leader, twith Daniela Del Boca, of the Work Package "Childcare arrangement determinants and consequences" (project partner: Collegio Carlo Alberto, Turin), as part of the European project Fp7 "Families and Societies - Changing families and sustainable societies: Policy contexts and diversity over the life course and across generations ”, coordinated by the University of Stockholm. She is interested in services and policies for children and adolescents and is currently a member of the Board of Directors of the Education and School Institution (IES) of the Municipality of Bologna.

Scientific results

Chiara Monfardini is an expert in micro-econometrics methods for analyzing individual data and models with limited dependent variables. Her current interests in applied research mainly concern the determinants of cognitive and non-cognitive development of children and adolescents, with particular attention to the consequences of the use of time.

Editorial work and publications

Currently, she is Co-Editor ofe international Review of Economics of the Household

 

In the last 15 years she published  the following articles:

 

(2017) Del Boca D, Monfardini C. and Nicoletti C. Parental and child time investments and the cognitive development of adolescents. Journal of Labor Economics, 35, 2:565-608.

 

(2017) Mancini AL, Monfardini C. and Pasqua S. (2017): Is a Good Example the Best Sermon? Children's Imitation of Parental Reading. Review of Economics of the Household,15:965–993.

 

(2016) Geraci A, Fabbri D. and Monfardini, C. (forthcoming) Testing exogeneity of multinomial regressors in count data models: does two-stage residual inclusion work? Journal of Econometric Methods. Published online November 2016. DOI: 10.1515/jem-2014-00.

 

(2016) Fabbri D, Monfardini C, Castaldini I. and Protonotari A. Cesarean section and the manipulation of exact delivery time. Health Policy, 120(7):780-789.

 

(2016) Bellettini G, Berti Ceroni C, and Monfardini C. Socio-Economic Heterogeneity and Electoral Turnout: An Aggregate Analysis with Precinct-Level Data. Electoral Studies, 42:146-156.

 

(2016) Fabbri D. and Monfardini C. Opt Out or Top Up? Voluntary Healthcare Insurance and the Public vs. Private Substitution. Oxford Bulletin of Economics and Statistics, 78, 1:75-93. Published online July 2015.

 

(2016) Monfardini C. and See SG. Birth Order and Child Cognitive Outcomes: an Exploration of the Parental Time Mechanism. Education Economics24, 5:481-495.

 

(2010) Cardoso A R, Fontainha E. and Monfardini C. Children's and Parents' Time Use: Empirical Evidence on Investment in Human Capital in France, Italy and Germany. Review of Economics of the Household,8, 4:479-504.

 

(2010) Miniaci R, Monfardini C. and Weber G. Is there a Retirement Puzzle in Italy?Empirical Economics, 38: 257-280.

 

(2009) Fabbri D. and Monfardini C. Rationing the public provision of healthcare in the presence of private supplements: evidence from the Italian NHS. Journal of Health Economics, 28:290-304.

 

(2009) BardasiE. and MonfardiniC. Women's Employment, Children and Transition: an Empirical Analysis on Poland. Economics of Transition, 17,1:147-173.

 

(2008) Lu M, Mizon G.E. and Monfardini C. Simulation Encompassing: Testing Non-nested Hypotheses. Oxford Bulletin of Economics and Statistics, 0 (s1): 781 - 806.

 

(2008) Fabbri D. and Monfardini C. Style of Practice and Assortative Mating: a Recursive Probit Analysis of Cesarean Section Scheduling in Italy. Applied Economics,  40:1411- 1423.

 

(2008) Monfardini C. and Santos Silva J.M.C. What Can We Learn about Correlations from Multinomial Probit Estimates? Economics Bulletin, 3, 28: 1-9.

 

(2008) Monfardini C. and Radice R. Testing Exogeneity in the Bivariate Probit Model: a Monte Carlo Study. Oxford Bulletin of Economics and Statistics, 70, 2: 271-282.

 

(2003) Fabbri D. and Monfardini C. Public versus Private Health Care Services Demand in Italy. Giornale degli Economisti e Annali di Economia, 62, 1:93-123.

 

(2003Monfardini C. An Illustration of Cox’s Non-Nested Testing Procedure to Logit and Probit Models. Computational Statistics and Data Analysis, special issue on Computational Econometrics, 42:425-444.

 

(2003) Giannelli G. and Monfardini C. (2003) Joint Decisions on Household Membership and Human Capital Accumulation of Youths: The role of expected earnings and labour market rationing. Journal of Population Economics, 16, 2:265-285.

 

According the RePEC (Research Papers in Economics) rankings, she is top 9% of Italian authors, top 11% europeans authors and top 13% of all authors and top 8% of all female authors.

 

Vera Negri Zamagni
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Economy and Finance area

Competences: economic history, history of industries and finance, italian cooperative movement

Keywords: companies, cooperatives, history, industry

Region: Emilia-Romagna


Position/Role

Professor of Economic History, University of Bologna and SAIS Europe of the Johns Hopkins University

Professional career

Degree in Philosophy, in 1966 at the Catholic University of Milan with the maximum grades (110/110 cum laude) with a thesis on the leading catholic review in the social and economic field 1890-1904. Post-graduate student in Oxford (GB) 1969-1973; D. Phil in Economic History in 1975. The teaching career started in Trieste in 1976, then it continued in Florence at the Faculty of Political Sciences Cesare Alfieri (1979-1986). Associate professor in 1982, the career continued in Bologna, where she became full professor in 1993 (after a brief stay at the university of Cassino).

Since 1973/74 she is visiting professor of European economic history at SAIS Europe of the Johns Hopkins University (Bologna). In 2016, SAIS Europe has named a professorship in Development Economics after Vera and Stefano Zamagni (her husband, a theoretical economist).

Vera Zamagni has been secretary of the Italian Economic history Association (1989-1993), member of Committee no. 10 of the Italian Research Council (1994-1999), trustee of the Bologna branch of the Bank of Italy (1996-2000 and 2011-12), member of the Committee no. 13 of ANVUR (the Italian Agency for research evaluation) 2011-2013.

She has been vice-president and Deputy for culture of the Emilia-Romagna regional government 2000-2002; member of the Historical Committee of the publishing house Il Mulino; member of the scientific board of the Italian Encyclopaedia Treccani 2006-2011. Member of the board of Banca Carim (Rimini) 2012-2017; member of the board of Datalogic (Bologna) 2018-present. Vice-president of the NGO CEFA operating in Africa; president of the association of friends of the Hospice Seragnoli. 

Scientific results

Vera Zamagni has carried a research career in the field of economic history of Italy XIX-XX centuries, with special reference to standard of living, reconstruction of historical series of GDP, public debt, business history (the history of Italcementi, Finmeccanica/Leonardo and of the chemical industry) and the history of the cooperative movement. She has also written textbooks of economic history of Europe and of Italy since the early modern era. Presently, she is engaged in writing a book on “Forms of enterprise”, which will compare the corporation with the SMEs and their clusters, the cooperatives and the non profit enterprises. After that, she has already a contract with Il Mulino to write an essay in the series “Words contretemps” on “The West”.   

Editorial work and publications

Vera Zamagni has been co-founder of the leading European Economic History Journal European Review of Economic History(Cambridge University Press) and co-editor 1997-2001. She has collaborated to numerous Journals. She has been awarded a degree honoris causa at the University of Umea (Sweden) in 2001.

Her publications include 140 essays, 20 volumes and 13 editorships, of which many in English and some in Spanish. They cover the process of economic growth of Italy from unification to the present, with special reference to regional disequilibria, distribution of income, wages and standard of living, business history, State intervention and the development of the cooperative movement

 

Dalla periferia al centro. La seconda rinascita economica dell'Italia, 1861‑1981, Bologna, Il Mulino,1993 (English ed. The economic history of Italy 1860‑1990, Oxford, Clarendon Press, 1993)

Italcementi. Dalla leadership nazionale all’internazionalizzazione, Bologna, Il Mulino, Bologna, 2006.

with S. Zamagni, La cooperazione, Bologna, Il Mulino, 2008 (English edition Cooperative enterprise: facing the challenge of globalization, Elgar, 2010).

L’industria chimica italiana e l’IMI, Bologna, Il Mulino, 2010

Finmeccanica. Competenze che vengono da lontano, Bologna, Il Mulino, 2009.

with S. Zamagni, Famiglia e lavoro. Opposizione o armonia?, Cinisello Balsamo, San Paolo, 2012 (translated into Spanish and Portuguese)

Enciclopedia Italiana, Appendix VIII. Il contributo Italiano alla storia del pensiero. Economia, eds. V. Zamagni and P. Porta, Roma, Treccani, 2012.

Perché l’Europa ha cambiato il mondo. Una storia economica, Bologna, Il Mulino, 2015 (English edition An Economic History of Europe Since 1700, Agenda, 2017)

L’economia italiana nell’età della globalizzazione, Bologna, Il Mulino, 2018 (English editionThe Italian economy, Agenda, 2018)

with G. De Luca e M. Landoni, Per una Storia della Retribuzione. Lavoro, valore e metodi di remunerazione dall’antichità a oggi, Bologna, Il Mulino, 2018

 

 

Giovanna Nicodano
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Economy and Finance area

Competences: finance, portfolio allocation behaviour, regulatory effects, tax effects

Keywords: actions evaluation, business groups, insider trading, liquidity, ownership structure, performance, risk, tax incentives, variation

Region: Piedmont


Position/Role

 Professor of Financial Economics, @UniTo; Fellow, @Collegio Carlo Alberto

Director, Master in Finance, Insurance, and Risk Management, @Collegio Carlo Alberto

Giovanna Nicodano (Ph.D., Princeton University) is a member of the scientific committee of the European Sysstemic Risk Board and of the supervisory board of the University of Vienna, School of Business Economics and Statistics. She visited CEMFI Madrid, Imperial College London, the London School of Economics, the University of Amsterdam, Haifa and Freiburg.

Scientific results

a. You should lower risk taking in the equity market, contrary to the usual prescription of target date funds, due to the negligible personal disaster risks you face during working life.

b. Markets correctly price surviving firms, while defaulting firms disappear. Stock price therefore exceeds (unconditional) firm value, the more the higher is bankruptcy exposure. This bias, due to defaulting firms having lower profits than surviving ones, generates a discount on companies when diversification helps survival and reduces bankruptcy costs. This insight finds support in both the excess survival of US diversified firms and its co-variation with their discount.

Editorial work and publications

“A Trade Off Theory of Ownership and Capital Structure”, Journal of Financial Economics,2019

“Guarantees, Debt and Taxes”, Review of Financial Studies,2014

“Pyramidal Groups and Debt”, European Economic Review,2006

"Optimal Life-Cycle portfolios for Heterogeneous Workers", Review of Finance,2014

“Should Insider Trading Be Prohibited when Share Repurchases Are Allowed?”, Review of Finance,2008

“Privatization and Stock Market Development”, Journal of Banking and Finance,2007

“Public Policy and the Creation of Active Venture Capital Markets”, Journal of Public Economics, 2006

“Insider Trading, Investment and Liquidity. A Welfare Analysis”, Journal of Finance, 2001

Awards and prizes

1. CEPR Network on Household Finance; Dutch Network for Studies on Pensions, Aging and Retirement (Netspar);

2. European Corporate Governance Institute, Brussels; Future of the Corporation, British Academy, London;

3.Luiss School of Political Economy.

Claudia Olivetti
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Economy and Finance area

Competences: family economy, labor economics

Keywords: demographics, family, gender, salary gaps, social standards, technology, workforce

Region: ABROAD


Position/Role

Full Professor at the Boston College Department of Economics, Chestnut Hill, MA (USA)

 

Professional career

After graduating in Statistics at the University of Rome "La Sapienza" in 1994, she continued her education with a PhD in Economics at the University of Pennsylvania in Philadelphia (USA). Since 2001 she has been Assistant Professor, and from 2008 to the 2015 she was Associate Professor (with tenure) at Boston University in Boston (USA). Since 2015 she has been Full Professor at Boston College (USA). She was Radcliffe Fellow at the Radcliffe Institute of Harvard University from 2005-2006.

 

Scientific results

The research activity of Claudia Olivetti takes place in the field of labor and family economics, with attention to the interaction between economic development, technology, institutions and social norms in an often historical and comparative perspective.
Her line of research has focused on the role of women in the labor market by analyzing the determinants and consequences of pay gaps, participation in the workforce and career paths. Her most recent work analyzes the intersection between traditional gender norms and economic development in influencing women's educational choices. Another line of research, complementary to the previous ones, studies the role of marriage for intergenerational mobility.

Editorial work and publications

She is the author of numerous publications, including:

(2017) Goldin C, Kerr S, Olivetti C. and Barth E. The Expanding Gender Earnings Gap: Evidence from the LEHD-2000 Census. American Economic Review P&P, 107 (5): 110-114. 

(2017) Olivetti C, Petrangolo B. The Economic Consequences of Family Policies: Lessons From a Century of Legislation in High-Income Countries. Journal of Economic Perspective, 31(1): 205-230.

(2016) Olivetti C, Petrangolo B. The Evolution of the Gender Gap in Industrialized. Annual Review of Economics, 8: 405-434. 
(2016) Albanesi S, Olivetti C. Gender Roles and Medical Progress. Journal of Political Economy,124 (3): 650-695. 
(2015) Paserman D, Olivetti C. In the Name of the Son (and the Daughter): Intergenerational Mobility in the United States, 1850-1940. American Economic Review, 105(8): 2695-2724.
 (2014) Olivetti C. The Female Labor Force and Long-run Development: The American Experience in Comparative Perspective. Chapter 5 in (L. Platt Boustan, C. Frydman and R.A. Margo eds.) Human Capital in History: The American Record, University of Chicago Press.
 (2009) Albanesi S, Olivetti C. Home Production, Market Production, and the Gender Wage Gap: Incentives and Expectations. Review of Economic Dynamics, 12(1): 80–107.
(2008) Olivetti C, Petrangolo B. Unequal Pay or Unequal Employment? A Cross-Country Analysis of Gender Gaps.Journal of Labor Economics, 26(4): 621-654.
(2006) Olivetti C. Changes in Women's Hours of Market Work: The Role of Returns to Experience. Review of Economic Dynamics, 9 (4): 557-587.
 (2004) Fernández  R. Fogli A, Olivetti C. Mothers and Sons: Preference Development and Female Labor Force Dynamics.Quarterly Journal of Economics, 119(4): 1249-1299.

Awards and prizes

Claudia Olivetti is Research Associate of the National Bureau of Economic Research in the groups of Labor Studies and Development of the American Economy and fellow of the Global Labor Organization.

She is Associate Editor of the European Economic Review. She is a member of the Economic History Association's committee, Alice Hansen Jones Prize, which awards the prize for the best North American economic history book every 2 years.

She was invited to hold the Fellows Lecture at the 2017 annual meeting of the Society of Labor Economist (Raleigh Durham USA), and the Keynote Lecture at the Italian conference in Econometrics and Empirical Economics (ICEEE) in the 2013 5th Annual Workshop on "Gender Equality," Bocconi University in 2015.

She received a Radcliffe Institute for Advanced Studies Fellowship, Harvard University in 2005-2006 and won teaching awards including the Gitner Teaching Award, Boston University. His research was funded by the National Science Foundation and the Research Council of Norway.

 

 

 

 

Monica Paiella
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Economy and Finance area

Competences: applied economics, financial economy

Keywords: financial literacy, pension funds

Region: Campania


Position/Role

Full professor of Economics at the University of Naples Parthenope

Professional career

After obtaining a Bachelor of Science in Economics at the New York University Stern School of Business and then a degree in Economics and Commerce at the University of Pavia, she earned a Ph.D. in Economics in 2001 at the University College London.

Her research activity began at the Institute of Fiscal Studies in London which granted her a scholarship from 1996 to 2000 and where she participated in research projects on household consumption, savings and portfolio choices. She continued to study these issues and to analyze their implications for economic policy at the Research Department of the Bank of Italy. In 2007 she moved to the University of Naples as an associate professor and in 2017 was appointed full professor. Since 2017 she has also been a member of the University Board of Directors.

She has been a visiting professor at Columbia University in New York, at the Goethe Universität in Frankfurt, at the Frankfurt School of Finance and at EBS in Wiesbaden.

In addition to this, she has been a consultant at the General Directorate for Macroprudential Policy and Financial Stability of the European Central Bank.

Scientific results

Monica Paiella is an applied economist with a long experience with econometric tools and in data analysis. Most of her work focuses on consumption, saving and investment choices of households and businesses. She contributed to the rationalization of well-known economic puzzles, including the equity premium puzzle and the stock market participation puzzle. She has studied the determinants of savings and debt and of household portfolio choices, taking into account differences in risk attitudes and financial literacy.

She has published in prestigious peer-reviewed journals such as The Review of Financial Studies, the Journal of the European Economic Association and the Journal of Applied Econometrics. Her studies on the equity premium puzzle, the costs of investing in stocks, the measurement of risk aversion and on the wealth effects on consumption are well known and widely cited in the literature.

Her most recent work includes studies on peer-to-peer lending, where she analyzes the liquidity of peer-to-peer markets, their links with the banking sector, and their implications for the European capital market union. In addition to this, as a consultant to the Macroprudential Policy and Financial Stability Division of the European Central Bank, she has contributed to a project on inequality and financial stability.

Currently, she is working on issues related to robo advice, expectation formation mechanisms concerning the prices of financial and real assets, the indebtedness of the elderly, and the implications of shadow banking for financial stability.

Editorial work and publications

The Role of FinTech for the Capital Market Union (with E. Faia)

            In: F. Allen et al. (eds.), Capital Market Union and Beyond, MIT Press (forthcoming in 2019)

The Anatomy of the Wealth Effect (with L. Pistaferri)

The Review of Economics and Statistics 99(4), 710-721, 2017

Evaluating the Impact on Saving of Tax-Favored Retirement Plans (with A. Tiseno)

Journal of Pension Economics and Finance 13(1), 62-87, 2014

Relative Risk Aversion is Constant: Evidence from Panel Data (with P. A. Chiappori)

The Journal of the European Economic Association 9(6), 1021-1052, 2011

Intertemporal Consumption Choices, Transaction Costs and Limited Participation in Financial Markets: Reconciling Data and Theory (with O. Attanasio)

Journal of Applied Econometrics 26(2), 322-343, 2011

Awards and prizes

She is a referee for the evaluation of national and international research projects and, from 2011 to 2014, she was a member of the Economics and Statistics panel for the Evaluation of Research Quality in Italy (VQR). She is a member of a number of scientific committees organizing national and international conferences, including the CEPR conferences and workshops of Household Finance, Women in Economics (WinE) of the European Economic Association, and the congresses of the Italian Society of Economists. She is a member of the Scientific Committee of the PhD program in Management, Governance and Economics at her University.

She has been awarded by her University an Excellence in Research Award, a mobility grant and research funds on competitive calls. She received a TMR grant and, in 2017, a grant from the Institut Europlace de Finance-Louis Bachelier LABEX.

Giovanna Paladino
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Economy and Finance area

Competences: finance, financial education

Keywords: charity management, corporate finance, exchange rate, gender, monetary policy

Region: Lazio


Position/Role

Head of the Technical Secretariat of the Chairman of Intesa Sanpaolo, Director and Curator of the MdR (Museum of Saving), Board Member of IFFM (International Federation of Finance Museums) and VUB Foundation (SK), Advisory Board Member of SAMA Financial Literacy Center (SAU).

Professional career

She graduated in Economics from “La Sapienza” University in Rome in 1988. She then received a “Diplome” (PhD pass) in International Relations from the Graduate Institute of International and Development Studies in Geneva (CH). In 1992, she worked as an intern at IMF in Washington D.C. and then moved to Rhode Island where she obtained a Master’s degree in Economics from “Brown University”. In 1994, she finished her PhD in Economics at “La Sapienza” University in Rome and obtained a post doc position, as Jeanne Monnet fellow, at the “European University Institute”. From 1998 to 2014, she was adjunct professor in Monetary and Financial Economics at LUISS Guido Carli University. In 1994, she started working in the banking sector as senior economist at the IMI Research Department and later in the Intesa Sanpaolo group where, from 2010, she is the head of the Chairman’s Technical staff. She is the curator and the director of the Museum of Saving, a financial education lab located in Turin and from April 2016, she is also responsible for managing the Intesa Sanpaolo Charity Fund.

Scientific results

She has published several research articles on finance and econometrics, with attention to issues related to the time varying volatility transmission via GARCH approaches. In this domain, she has written papers on commodity prices determination using models able to identify fundamental and speculative components. Recently, the research focus has switched to the effectiveness of the ECB monetary policy, the link between sovereign risk and bank risk-taking (i.e. the bank-sovereign nexus) and the time varying behavior of fundamentalists and chartists in the exchange rate markets. Another strand of her research was centered on corporate finance and regulation. She carried out research, then published on peer reviewed journal, on the value creation of M&As in the banking sector, on the impact of the adoption of internal rating models on the cost of capital and on the relation between leverage and profitability. Adding to her research accomplishment, she established and expanded the outreach of the MdR, the first museum fully dedicated to financial literacy, and succeed to manage the IntesaSanpaolo Charity Fund according to the best international practices. In her project activities “gender gap” has been at the core of various original initiatives for arising the public awareness on the topic.

Editorial work and publications

(2018) Cifarelli G, Paladino G. Can the interaction between a single long-term attractor and heterogeneous trading explain the exchange rate conundrum? Research in International Business and Finance, 46: 313-323

(2016) Cifarelli G, Paladino G. Time-varying mark-up and the ECB monetary policy transmission in a highly non-linear framework. International Review of Economics & Finance, 45:247-262.

(2016) Beltratti A, Paladino G. Basel II and regulatory arbitrage. Evidence from financial crises.Journal of Empirical Finance, 39: 180-196.

(2015) Cifarelli G, Paladino G. A dynamic model of hedging and speculation in the commodity futures markets. Journal of Financial Markets, 25: 1-15.

(2013) Beltratti A, Paladino G. Is M&A different during a crisis? Evidence from the European banking sector. Journal of Banking & Finance, 37: 5394-5405

(2010)  Cifarelli G, Paladino G. Oil price dynamics and speculation: A multivariate financial approach. Energy Economics, 32:363-372.

(2005) Cifarelli G, Paladino G. Volatility linkages across three major equity markets: A financial arbitrage approach. Journal of International Money and Finance, 24:413-439.

Awards and prizes

Giovanna Paladino won several grants and scholarships that fully supported her graduate studies. She got her doctoral degree thanks to the scholarships “Luciano Iona” and the grant from Fondazione Einaudi. The post-doc was supported by the Jean Monnet fellowship of the European Community. In 2003 the Global Finance Association awarded “Volatility Co-movements in Emerging Bond Markets: Is there Segmentation between Geographical Areas?” as best paper in asset pricing.

 

Barbara Petrongolo
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Economy and Finance area

Competences: labor economics

Keywords: family, gender, public policies, work

Region: ABROAD


Position/Role

Full Professor of Economics at Queen Mary University of London.

Professional career

After graduating in Economics and Commerce at the S. Anna High School of the University of Pisa in 1993, she obtained a PhD in Economics from the London School of Economics in 1998. From 1997 to 2001 she was assistant professor at the Carlos III University of Madrid, before returning to LSE in 2001 as a lecturer in Economics. Since 2010 she has been Professor of Economics at Queen Mary University of London, and associate research of the Center for Economic Performance at the London School of Economics. Since 2015 she has directed the CEPR Labor Economics program (Center for Economic Policy Research). She has been a visiting scholar at various universities including University of California Berkeley, Paris School of Economics, Toulouse School of Economics, University College London.

Scientific results

Barbara Petrongolo's research activity takes place in the field of labor economics. She has dealt with labor markets with frictions, with applications to labor mobility, the dynamics of the unemployment rate, and the effects of social assistance and territorial development policies. She also works on issues related to gender inequalities in the labor market, studying the factors that have allowed the reduction of these inequalities and the causes of the remaining disparities, with emphasis on the role of the industrial structure, of interactions within family units and social norms.

Editorial work and publications

Barbara Petrongolo is joint managing editor of the Economic Journal and author of numerous publications, including:

(2017) Manning A, Petrongolo B. How local are labor markets? Evidence from a spatial job search model.American Economic Review,107: 2877-2907.

(2017) Ngai R, Petrongolo B. Gender gaps and the rise of the service economy.American Economic Journal: Macroeconomics,9: 1-44.

 

(2016) Olivetti C, Petrongolo B. The economic consequences of family policies. Drawing lessons from a century of legislation across OECD countries.Journal of Economic Perspectives,31: 205-230.

 

(2016) Olivetti C, Petrongolo B.The evolution of the gender gap in industrialized countries. Annual Review of Economics,8: 405-434.

(2014) Olivetti C, Petrongolo B.Gender gaps across countries and skills: Demand, supply and the industry structure.Review of Economic Dynamics,17: 842-859.

 

(2014) Goux D, Maurine E, Petrongolo B.Worktime regulations and spousal labor supply.American Economic Review, 104: 252-276.

(2011) Eckstein Z, Petrongolo B, Ge S. Job and wage mobility con minimum wages and imperfect compliance.Journal of Applied Econometrics, 26: 580-612.

(2009) Olivetti C, Petrongolo B.The long-term effects of job search requirements: Evidence from the UK JSA reform. Journal of Public Economics, 93: 1234-1253.

(2008) Olivetti C, Petrongolo B. Unequal pay or unequal employment? A cross-country analysis of gender gaps.Journal of Labor Economics, 26: 621-654.

(2008) Pissarides C, Petrongolo B The ins and outs of European unemployment. American Economic Review, P&P,98: 256-262

(2008) Coles M, Petrongolo B. A test between stock-flow matching and the random matching function approach.International Economic Review, 49: 1113-1141.

(2005) Petrongolo B. Pissarides C. Scale effects in markets con search.Economic Journal, 116: 21-44.

 

 

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