The United Nations General Assembly discussed and approved the new Sustainable Development Goals (SDGs) during the UN Sustainable Development Summit held in New York on September 25-27, 2015. FEEM Research Director, Prof. Carlo Carraro, briefly presents the preliminary results of FEEM’s APPS – Assessment, Projections and Policy for Sustainable Development Goals - project.
The three young winners of the 2015 FEEM Award, Keshav Dogra, Anne-Katrin Roesler and Jörg L. Spenkuch, explain the motivations behind their papers. The topics range from the euro debt crisis and the rational inattention theory to the backward reasoning hypothesis in sequential games and applied to the US Senate.
In the latest volume released by FEEM Press, Professor Jean Christophe Iseux von Pfetten offers a rare and fascinating glimpse into China in terms of its leadership structure and policies, economic and social prospects as well as its world power projection, with the aim to better understand this country.
Re3 publishes the interview and excerpts from the keynote speech delivered by Nobel Prize laureate Muhammad Yunus, founder of Grameen Bank, on the occasion of the workshop “Convergence between profit and not for profit to achieve sustainable value. Perspectives from the Social Enterprise World Forum 2015”, held in Milan on July 3, 2015.
We discuss the concepts of macroeconomic uncertainty, oil price uncertainty and oil price shocks. Given the relevance of oil and macroeconomic uncertainty, we illustrate how economic uncertainty can be defined and measured. We describe our proposed measure of oil price uncertainty and we illustrate the contribution of its underlying components.
What are the origins and implications of the Arab Spring? How did the global economic crisis impact on the geostrategic order? The new volume “Global Challenges and the Emerging World Order” by Professor Giulio Sapelli, University of Milan and FEEM, offers an unconventional overview of the challenges posed by the world’s new geostrategic order.
The 2008 crisis exposed the vulnerability of all major economies to financial events beyond their control. The scope, speed and severity of the crisis drove world economies to cooperate on all items of the financial regulatory agenda. This article analyses how the financial crisis affected EU financial regulation for commodities.
On 14 January 2015 international scholars and experts convened in Milan for the International Conference on “Water and Development”. Re3 publishes a selection of the presentations showing how demographic trends, energy development and needs, the water-energy nexus, climate change, and water geostrategic challenges are all interconnected.
Re3 publishes the interviews with the winners of the FEEM 2014 Award, which periodically rewards new ideas and innovative research in economics by young scholars. The interviews span a wide variety of topics, from the case of Fukushima to labour market reforms and whether financial incentives affect fertility.
Nature Climate Change releases today one of the most comprehensive assessments of the timing and amount of greenhouse gas emissions for each of the world's major economies, considering both currently discussed pledges and scenarios that limit future temperature rise to 2°C. Main key messages of the study led by FEEM are presented in a set of three short videos.
Re3 is pleased to report the latest on the Annual Convention of FEEM and the Euro-Mediterranean Centre for Climate Change (CMCC). View the 2-minute video for a quick overview or listen to the interviews for a summary of the topics addressed in the keynote speeches.
How can games be used to solve the climae stalemate? In this short interview Alessandro Tavoni, research fellow at the Grantham Research Institute of the LSE and associate researcher at FEEM, gives practical examples on how experimental games can be integrated into more traditional lines of research on coalition formation and stability.
Re3 is pleased to publish this comment by Franklin Allen, Nippon Life Professor of Finance and Economics, The Wharton School of the University of Pennsylvania, to the paper "Illiquidity and all its Friends" by Nobel laureate Jean Tirole, prior to its publication in the Journal of Economic Literature in 2011.
Interviewed by Re3, Francisco H. G. Ferreira - World Bank Chief Economist Africa Region and Research Fellow at the Institute for the Study of Labor (IZA, Bonn) - discusses development policies in Africa, human capital empowerment and how to deal with religious and cultural conflicts and promote nation-building processes.
This article reports that indeed workers in the public sector are more likely to engage in socially motivated activities than their private sector counterparts. However, this is so just because the public services employ people with higher education and skills, characteristics that increase the likelihood of being socially engaged.
The jihadist group formerly known as ISIS, which already controls vast areas of Syria and Iraq, has recently proclaimed the restoration of the caliphate. This article discusses the presence of a jihadist state in the Middle East, which represents a formidable threat to the Arab state system.
In this article based on his recent lecture in FEEM, Anatol Lieven, King’s College London, explores the crisis in Ukraine, a country torn apart by ethnic strains and nationalism that has dramatically become a focal point of the international agenda, the real epicenter of European, United States and Russian negotiations.
The National Rugby League (NRL) competition provides an interesting example for an analysis of home team advantage as many of the Sydney teams in the NRL share stadiums. This article discusses recent work conducted by Longden and Kannard (2014) that confirms that playing at a traditional Sydney stadium does provide an advantage.
The concept of environmental capital is thoroughly entrenched in policy discussions but largely missing from mainstream economic curriculums. This article argues that environmental externalities, climate change, and constraints on natural resources will constantly and deeply affect humankind’s future. The teaching of economics, especially growth economics, should stop ignoring them.
A salary cap has been in place in one of Australia’s most popular professional sports since 1990. Since 2001 there have been multiple cases where rugby league teams were found to have notably violated the salary cap. This article discusses recent work conducted to calculate the impact of these violations.
Evidence from procurement and concession contracts shows that time overruns are widespread. This article summarizes two studies that investigate causes of time overruns in public procurement and concession contracts and determine the trade-off between the supplier’s option value to delay and the penalty fee to be paid for the delay.
Are transfers from members living abroad a stimulus to a key sector such as schooling in Albania? The article summarizes the results of a study investigating which factors boost the household expenditure in education, with a special emphasis on the remittances sent to Albanian families from migrants living abroad.
The article discusses the creation of money in primitive populations at the beginning of economic activity, within a social environment where interpersonal trust, reciprocity and moral principles were prevalent. The analysis highlights the need to create a social environment based on these values for obtaining public happiness and sustainable development.
Rachel Croson's talk at EAERE 2013 discussed the origins and current state of this behavioral policy research, and highlighted open questions and opportunities for new explorations. In this short video-interview granted to Re3, she gives a summary overview of this relatively new field of study for neophites.
The path towards sustainability needs a deep cultural change, starting with the education of responsible citizens. In her recent book “Towards a Sustainable University” Chiara Mio describes a strategic and organizational sustainability approach in the context of universities, both from an academic literature perspective and from a real case example.
The article focuses on the rise of a model of citizenship based on responsibility and awareness of emerging challenges. Citizens and firms become partners of a commitment aimed to generate a positive impact on society, and to transform the model of Business Sustainability into an innovative and modern paradigm.
Re3 is pleased to publish the interviews with the winners of the FEEM Award conferred during the 2013 European Economic Association Congress at the University of Gothenburg, Sweden: Jonathan Colmer and Michele Piffer, London School of Economics, and Rosen Valchev, Duke University, with links to the papers and motivations for the prize.
Concern over access to resources is high in EU political consciousness, given recent political instability and resource nationalism in resource-rich nations. The article offers an overview of the EU project POLINARES, aimed at identifying the challenges related to competition for access to resources, and at proposing approaches to collaborative solutions.
This article looks at vertical and horizontal integration in the English and Welsh water industries, estimating the costs and benefits of breaking up monopolies. The results of the analysis suggest that there is no real reason why water and sewage industries should be integrated.
BGs are clusters of legally autonomous firms within and across national borders. They represent a lion's share of value added generation in developing and developed economies, yet they are poorly investigated. The article shows how BGs adapt their organization to various institutional environments and how various organization strategies affect performance.
Smoking, like many health-related behaviors, has "social" aspects. This article discusses how accounting for the external effects of smoking (second-hand smoke) and concern for the health of relatives and friends can shed light on recent trends in smoking behavior and possibly suggest anti-smoking policies in view of the intrinsic network effects.
As the world's population and energy consumption increase, more and more natural resources are needed to keep up with its pace of growth. This article describes what international institutions and the EU are doing to pursue an economic growth paradigm that is friendly to the earth’s ecosystem and that can at the same time contribute to poverty alleviation.
In recent years green growth has become a focal point of cooperation between Italy and China, and in the year 2000 the Italian Ministry for the Environment, Land and Sea launched the Sino-Italian Cooperation Program for Environmental Protection with some Chinese institutions and universities. This article describes its achievements and future objectives.
At a time when the world is recovering from the financial crisis and begins to explore new approaches to sustainable development, this article presents China’s sustainable development policy and discusses how financial institutions, and the China Development Bank in particular, can help promote a green economy.
This article analyses the economic system of the Bolzano Province in Italy’s Alto Adige region to understand its relationships with the ecosphere. A model based on Economic Input–Output, combined with Life Cycle Assessment, is used to assess the impacts related to air emissions, energy consumption and waste generation by economic activities.
Anil Markandya, Scientific director of the Basque Center for Climate Change, discusses environmental fiscal reform and provides a short overview of his work on some of the main concerns with this reform, such as its effects on competitiveness and feasibility.
Is there a causal relationship between oil prices and autocracy? This article argues the importance of going beyond deterministic formulations to investigate this relationship, and to use the analytical tools provided by the Rentier State Theory to gain a better understanding of the Arab uprisings and their aftermath.
"We can no longer use the climate of the past as a guide to design the investments of the future" states Raffaello Cervigini, Lead Economist at The World Bank in this interview granted to Re3. Extreme events are becoming increasingly frequent particularly in Sub Saharan Africa, and it is of utmost importance to raise the quality and effectiveness of investments in key sectors such as agriculture, transport and urban development, in order to ensure their resilience to a changing climate.
Money matters, but is that all? This article presents evidence that social incentives can boost productivity in sectors that rely on pro-social behaviour such as health, education, and social care. It argues that this may help explain the growing popularity of Corporate Social Responsibility programmes within firms.
Overweight and obesity are social plagues of modern societies. The article draws from a research study undertaken by the authors showing that the scale of such a phenomenon is due to the effects of peers on individual weight-related behaviour, as well as to the limits on dynamic behavior imposed by habits.
Does the interaction of diverse cultures hamper or facilitate the creation of new ideas? The article summarizes the results of a study investigating the role of ethnic heterogeneity of the labour force in the creation of new knowledge.
Ian J. Bateman, Head of Economics for the UK-National Ecosystem Assessment, summarises in a non-technical language the rationale for undertaking the first analysis of the UK's natural environment in terms of the benefits it provides to society and continuing economic prosperity.
As changes in climate-related stocks have consequences spanning over centuries or possibly millennia to the future, to reconcile the discounting of such far-distant impacts and realism of the shorter-term decisions, hyperbolic time-preferences are here considered in a climate-economy model.
Green growth is about making growth processes resource-efficient, cleaner and more resilient without necessarily slowing them. The work presented aims at clarifying these concepts in an analytical framework and at proposing foundations for green growth.
International treaties and cooperation processes require prospective member countries to achieve given standards in either economic, social or environmental quality. This article explores the effect of such standards on domestic political preferences to interpret shifts in political outcomes in the Euro-zone.
The UNCSD Rio+20 meeting is expected to define the future paradigms of sustainable development. This article presents an overview of the main obstacles toward achieving sustainable development, highlighting the limitations of the current measurement approaches.
What drives people to emigrate? How does uncertainty affect migration choice? Do networks mitigate its effects? The results of the study described in this article show that by controlling the information on the immigration stock, governments can delay the mass entry of immigrants, maintaining the required stock both in the long and in the short run.
Over the last decade local communities in Sub-Saharan Africa, South America, Australia and Oceania have been pressed by multinationals to vacate their land. The Rome agreement, signed on May 11, 2012 by 124 states, calls for economic players to abide by the principles of common law and to negotiate property transactions with the local communities.
The recent economic crisis has brought to light the importance of opportunities that lie in the newly emerging markets (South). The article introduces the notion of global innovation networks and presents policy options to gain from challenges faced from the internationalisation of innovation activities.
The ever growing flows of people, goods, images and ideas at global level are changing the way we see and experience diversity. The question of whether and how we can live and prosper together while keeping and enjoying our differences is becoming the fundamental issue of our time. This is the question at the core of this article.
Over the past two decades there has been an increase in Corporate Social Responsibility (CSR) firms in OECD countries, although socially responsible behaviour is costly. Why, then, is the number of these firms on the increase? What drives companies to obtain this certification? Is there a link between group membership in CSR and better firm performance?
This article discusses the results of an expert elicitation survey on solar technologies carried out within the ICARUS project on innovation in carbon-free energy technologies. Leading European experts from the academic world, the private sector and international institutions took part in this survey on Photovoltaic and Concentrated Solar Power technologies.
A key policy question when discussing REDD is how to balance low-cost forestry emission reductions, available in the near term, with investments to drive technological innovation in energy, industry, and other sectors over the longer period. Here we report a research effort showing that linking REDD to an international carbon market is, as expected, economically efficient.
Over 20 years of research have failed to generate an alternative to GDP for well-being assessment around the world. FEEM has developed a new methodological approach to generate an aggregate Sustainability Index that describes the current picture of sustainability at world level and highlights potential improvements in the next future driven by ad hoc policies.
IEW N. 2013.01
Water and Sewerage Industries
European Monetary Union
EU Energy Policy
Foreign Direct Investment