PRIN 2020
An analysis of the Italian financial legal framework in relation to the Capital Markets Union action plan: the perspective of regulatory fragmentation and sustainability
Scientific lead: Mirella Pellegrini
This research aims to advance the academic and public policy debate surrounding the Capital Markets Union (CMU) and its implementation in Italy in two ways. First, the goal is to develop and reconcile different theoretical approaches that can inform the examination of the structural changes the CMU is bringing about. The project therefore adopts the so-called “law in context approach,” which involves “addressing legal topics broadly, drawing on material from other social sciences and any other discipline that helps explain how the subject matter functions in practice.” Secondly, the project identifies the current shortcomings in Italy's financial legislative framework and demonstrates how these can hinder the creation of a single capital market in Europe. The proposed research project is groundbreaking in three key ways: 1) It will contribute to the CMU debate by taking an innovative analytical approach that focuses on regulatory fragmentation; 2) It aims to integrate various disciplines, methodologies, and approaches, thereby bringing concepts from economics, finance, and computer science/engineering into the legal discourse; 3) The project will fill a gap in the literature regarding the interaction between the CMU and the national regulatory framework, as well as the main regulatory obstacles to achieving an integrated market.
RE.S.TO.R.E - Recovering the State Towards a Reformed Economy
Scientific director: Aldo Sandulli
The RE.S.TO.R.E project – Recovering the State Towards a Reformed Economy – aims to achieve five interconnected objectives: to examine the methods and specific impact of European institutions' actions in the general redefinition of public intervention in the economy, with a particular focus on the Next Generation EU and its interpretation in different countries; to analyze the challenges and timelines of institutional management of Italy's recovery and resilience plan, which should serve as the foundation for revitalizing the national economic system over the next five years; investigating the specific contribution of the state in promoting and building infrastructure as essential enablers for any other major long-term investment; mapping and critically examining the various instances where public authorities take action to safeguard economic systems from predatory acquisitions, with a particular focus on the different national and supranational disciplines of 'golden power'; analyzing the Italian system of state holdings and its overall redefinition, especially considering the new role that key national institutions—such as Cassa Depositi e Prestiti and local authorities—may play during the recovery period.
Archive
Completed projects
Scientific Director: Maria Rita Testa
While traditional research on social stratification has extensively examined the geographical dimensions of social inequalities, in recent decades, a surprisingly smaller number of studies have focused on how spatial arrangements influence the intergenerational reproduction of social inequalities. GESI (Geography and Social Inequality in Italy) is the first comprehensive study to investigate how an individual's place of origin influences various aspects of their life path and impacts social inequalities in life outcomes in Italy. The project considers the multidimensional and cumulative nature of social stratification, focusing on various aspects of individuals' life opportunities: educational and employment opportunities, paths of social mobility, family dynamics, and internal geographic mobility. Four objectives are addressed: investigating the effects of geographic origin on individuals' life outcomes; studying how geographic origin intersects with other dimensions of social inequality (e.g., education, social background, etc.); examining how internal geographic mobility reinforces existing social inequalities; and collecting new and original data on the various aspects of social and geographic inequalities.
Scientific lead: Pierpaolo Benigno
JUMPS aims to study the effectiveness of the current combination of monetary and fiscal policies, along with its potential trade-offs and risks, with a focus on distributional issues and political economy considerations that may affect its implementation. The proposal can be divided into six themes that will be pursued in a coherent and coordinated manner: 1) Monetary policy stimulus: studying the effectiveness of the PEPP compared to alternative strategies, such as helicopter money and enhanced forward guidance; analyzing the sovereign debt risk stemming from the liquidation of the PEPP. 2) Fiscal policy stimulus: provide a quantitative assessment of structural investments from both a micro and macro perspective, developing a new generation of models that integrate the macro-dynamic approach with fiscal microsimulation. 3) Effects of reallocating public investments across sectors: studying the effects of reallocation and the cross-sectoral impacts of adopting new technologies, skill-oriented technological change, and the complementarities between capital and skills. 4) Regional effects of public investment: explaining the heterogeneity in policy multipliers, measuring capital misallocation across European regions, and studying how public investment can influence it. 5) Political feasibility: studying the sentiment of the European population after COVID regarding public interventions, redistributive rights, and intergenerational policies to identify a social welfare function needed to compare policy proposals for improving efficiency that are also politically viable. 6) Policy recommendation: Identify a set of policy recommendations that should guide the post-COVID recovery. The results of JUMPS will be condensed into a series of policy proposals that will strengthen the project's social impact.
Scientific lead: Maria Isabella Leone
This research project explores the conditions that can help develop a new generation of public governance capable of effectively engaging in multi-stakeholder collaborative processes aimed at promoting and generating social impact. The focus is on public governance of open social innovation, as the public sector can drive these processes and serve as a key player among a range of stakeholders addressing the most pressing social needs. The project addresses the following research questions: 1) What are the key components and characteristics of open social innovation processes that can be translated into the design of a new, place-based public governance model? (co-definition) 2) What are the enabling factors of governance that support the open social innovation ecosystem? (experimentation) 3) How can open social innovation be institutionalized as a new governance structure for the next generation of place-based public governance? (development and institutionalization).
Scientific Director: Lorenzo de Sio
The recent disruptive political shift in the Western world—Brexit, Trump, competing parties across Europe, and the formation of the first “populist” government in Western Europe in Italy in 2018—has profoundly challenged theories on voting behavior and party competition. This has led most scholars to offer broad explanations based on populism and irrational public opinion. However, current research only superficially addresses the potential process of deideologization, lacking a process-oriented focus (and it does not consider the impact of the COVID crisis, which could potentially lead to further changes). POSTGEN addresses this gap by providing an in-depth analysis of the mechanisms and dynamics of a possible deideologization, specifically focusing on Italy, which has been at the forefront of disruptive political change. It adopts a generation-aware perspective (necessary to understand change) with an emphasis on younger generations and an innovative focus on: time, by tracing the (memories and) dynamics of how political attitudes are formed (at the individual, generational, and collective levels) and their impact on political behavior; the meanings associated with various political issues, and the (lack of) general ideological organization of these issues; and non-political actors and influencers, and their growing influence in an era of crisis for epistemic authorities.
RESEARCH OFFICE
Manager
Anna Elisa D'Agostino
Tel: 06 8522 5989
Viale Romania, 32
00197 Rome
ricerca@luiss.it
Design
Chiara Sganga
T: 06 8522 5994
Sara Mangoni
T: 06 8522 5740
Licia Gallo
T: 06 8522 5958
Reporting
Roberta Pellicano
T: 06 8522 5440