Template-Type: ReDIF-Paper 1.0 Number: 2020.01 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-001.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.01 Title: The Impact of Industrial Energy Efficiency on Economic and Social Indicators Author-Name: Alessandra Celani de Macedo Author-X-Name-First: Alessandra Author-X-Name-Last: Celani de Macedo Author-WorkPlace-Name: UNIDO Author-Name: Nicola Cantore Author-X-Name-First: Nicola Author-X-Name-Last: Cantore Author-WorkPlace-Name: UNIDO Author-Name: Laura Barbier Author-X-Name-First: Laura Author-X-Name-Last: Barbier Author-WorkPlace-Name: UNIDO Author-Name: Marco Matteini Author-X-Name-First: Marco Author-X-Name-Last: Matteini Author-WorkPlace-Name: UNIDO Author-Name: Giorgia Pasqualetto Author-X-Name-First: Giorgia Author-X-Name-Last: Pasqualetto Author-WorkPlace-Name: UNIDO Abstract: Inclusive and sustainable industrial development implies environmental friendly industrial growth with positive implications for social targets such as employment generation. One of the most important options available to policymakers for reducing CO2 emissions is industrial energy efficiency, which is particularly relevant for the discussion on green industrialization. Despite this intuitive concept, the economics measurement toolkit still lacks a methodological framework to analyse the extent to which energy efficiency interventions can generate simultaneous economic, environmental and employment-related improvements to boost inclusive and sustainable industrial development. This study fills this gap by introducing an original approach based on input-output tables to estimate the impact of improvements in industrial energy efficiency on value added, employment and energy savings among industries in the Republic of North Macedonia. The results show that triple dividends are possible in terms of inclusive and sustainable industrial development. Whereas a positive impact on employment is found in every scenario, a positive outcome in terms of value added essentially depends on the country’s capacity to produce goods that accommodate firms’ increasing demand from their use of energy cost savings. Keywords: Economics, Input-output Analysis, Employment Creation, Energy Efficiency Classification-JEL: Q40, Q49 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.02 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-002.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.02 Title: Effects of Carbon Tax on Electricity Price Volatility: Empirical Evidences from the Australian Market Author-Name: Nicola Comincioli Author-X-Name-First: Nicola Author-X-Name-Last: Comincioli Author-WorkPlace-Name: University of Brescia and Fondazione Eni Enrico Mattei Author-Name: Sergio Vergalli Author-X-Name-First: Sergio Author-X-Name-Last: Vergalli Author-WorkPlace-Name: University of Brescia and Fondazione Eni Enrico Mattei Abstract: Among the wide variety of policy options adopted worldwide to control carbon emissions, one of the most environmentally effective and economically efficient is represented by carbon tax, that aims to recoup the damage arising from polluting production processes. In this paper, we focus on the Australian Carbon Pricing Mechanism (CPM) and on the effects that its introduction had on the electricity market. The most relevant effect is the reduction of the level of electricity price’s volatility. This effect has been investigated after having removed, from electricity data time series, the periodic behavior, through a multiple linear regression. Then, to study volatility dynamics, we fit a two-states Markov-switching model to represent a high-volatility and a low-volatility states of the world. This model highlighted that in both states the level of volatility is lower and that the persistence of the second state is increased by the presence of the CPM. This result is particularly important in investment evaluation: knowing the different dynamics of price volatility in presence of a carbon tax or not, can provide crucial information in investment decision and its timing. Keywords: Carbon Tax, Seasonality and Volatility of Electricity Price Classification-JEL: C51, Q41, Q48 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.03 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-003.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.03 Title: Do Exit Options Increase the Value-For-Money of Public-Private Partnerships? Author-Name: Marco Buso Author-X-Name-First: Marco Author-X-Name-Last: Buso Author-WorkPlace-Name: Department of Economics and Finance, Catholic University of Sacred Heart and Interuniversity Centre for Public Economics (CRIEP) Author-Name: Cesare Dosi Author-X-Name-First: Cesare Author-X-Name-Last: Dosi Author-WorkPlace-Name: Department of Economics and Management, University of Padova and Interuniversity Centre for Public Economics (CRIEP) Author-Name: Michele Moretto Author-X-Name-First: Michele Author-X-Name-Last: Moretto Author-WorkPlace-Name: Department of Economics and Management, University of Padova Abstract: We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be ?financially loss-making. In a continuous-time setting with hidden information about operating profi?ts, we show that an exit option, acting as a risk-sharing device, can soften agency problems and, in so doing, accelerate investment and increase the government?'s expected payoff, even while taking into account the costs that the public sector will have to meet in the future to take direct responsibility on service provision. Keywords: Public Infrastructure Services, Public-Private Partnerships, Adverse Selection, Real Options, Early Termination Fees Classification-JEL: D81, D82, D86, H54 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.04 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-004.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.04 Title: A Tragic Solution to the Collective Action Problem: Implications for Corruption, Con?flict and Inequality Author-Name: Ricardo Nieva Author-X-Name-First: Ricardo Author-X-Name-Last: Nieva Author-WorkPlace-Name: Department of Economics, Universidad de Lima Abstract: We study the role of an enforcer in the effectiveness of selective incentives in solving the collective action problem when groups take part in a contest. Cost functions exhibit constant elasticity of marginal effort costs. If prize valuations are homogeneous, our source of heterogeneity induces full cost-sharing and the ?first-best individual contributions; further, the group probability of winning goes up. With heterogeneity in prize valuations, an increase in the effectiveness of the enforcer in confl?ict increases the group probability of winning only if the prize valuation of the enforcer is lower than de Lehmer mean of those of the other players; however, the induced partial cost sharing is not group efficient. If effectiveness "tends to infi?nity", the collective action problem is solved with partial cost-sharing if that prize valuation is not too low. Tragically, if productivity is low (if the prize is private in our set up) this occurs with corrupt coalitions which have been shown to form together with confl?ict and inequality endogenously; otherwise, this occurs with non corrupt coalitions. Further, even if such valuation is too low the group winning probability goes up. In this latter case, over cost-sharing yields group efficiency. Keywords: Heterogeneity, Corruption, Collective Contests, Inequality, Selective Incentives Classification-JEL: D72, D73, D74 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.05 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-005.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.05 Title: The Inclusive and Sustainable Development Index: a Data Envelopment Analysis Approach Author-Name: Charles Fang Chin Cheng Author-X-Name-First: Charles Fang Chin Author-X-Name-Last: Cheng Author-WorkPlace-Name: Department of Policy Research and Statistics, UNIDO Author-Name: Nicola Cantore Author-X-Name-First: Nicola Author-X-Name-Last: Cantore Author-WorkPlace-Name: Department of Policy Research and Statistics, UNIDO Abstract: Inclusive and Sustainable Industrial Development (ISID) calls for full engagement of policymakers in industrializing countries by minimizing environmental footprint and enhancing social inclusiveness. This study investigates the progress of 118 countries towards ISID (2005-2015) through an input-oriented CCR (Charnes, Cooper, and Rhodes) slack-based (Data Envelopment Analysis) DEA model. The efficiency analyses have been carried out with two approaches: i) the ISID approach represents the aspiration of countries to promote industrialization and consequently sustain economic growth by reducing the adverse environmental and social effects which manifest in the overall economy; ii) ISIDsdg9 approach considers the same aspects of ISID but only focuses on indicators related to the industrial sector. An analytical tool is developed to measure ISID with the two different approaches. This study finds that (i) Denmark, Sweden, and Switzerland are at the top of the ranking with the ISID approach, and the Czech Republic and Switzerland are at the top of the ranking with the ISIDsdg9 approach. Throughout 2005-2013, there is no sign of catching up between developed and developing countries in progress towards ISID and ISIDsdg9. Keywords: Slack-Based Model (SBM), Inclusive and Sustainable Industrial Development (ISID), Data Envelopment Analysis (DEA), United Nations Sustainable Development Goals (UN SDGs) Classification-JEL: Q01, Q54 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.06 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-006.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.06 Title: The Effects of Air Pollution on COVID-19 Related Mortality in Northern Italy Author-Name: Coker Eric Author-X-Name-First: Eric Author-X-Name-Last: Coker Author-WorkPlace-Name: College of Public Health and Health Professions, University of Florida Author-Name: Cavalli Laura Author-X-Name-First: Laura Author-X-Name-Last: Cavalli Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Fabrizi Enrico Author-X-Name-First: Enrico Author-X-Name-Last: Fabrizi Author-WorkPlace-Name: Department of Economics and Social Sciences, Università Cattolica del Sacro Cuore Author-Name: Guastella Gianni Author-X-Name-First: Gianni Author-X-Name-Last: Guastella Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Department of Mathematics and Physics, Università Cattolica del Sacro Cuore Author-Name: Lippo Enrico Author-X-Name-First: Enrico Author-X-Name-Last: Lippo Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Parisi Maria Laura Author-X-Name-First: Maria Laura Author-X-Name-Last: Parisi Author-WorkPlace-Name: Department of Economics and Management, Università degli studi di Brescia Author-Name: Pontarollo Nicola Author-X-Name-First: Nicola Author-X-Name-Last: Pontarollo Author-WorkPlace-Name: Department of Economics and Management, Università degli studi di Brescia Author-Name: Rizzati Massimiliano Author-X-Name-First: Massimiliano Author-X-Name-Last: Rizzati Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Varacca Alessandro Author-X-Name-First: Alessandro Author-X-Name-Last: Varacca Author-WorkPlace-Name: Department of Agricultural Economics, Università Cattolica del Sacro Cuore Author-Name: Vergalli Sergio Author-X-Name-First: Sergio Author-X-Name-Last: Vergalli Author-WorkPlace-Name: Fondazione Eni Enrico Mattei and Department of Economics and Management, Università degli studi di Brescia Abstract: Long-term exposure to ambient air pollutant concentrations is known to cause chronic lung inflammation, a condition that may promote increased severity of COVID-19 syndrome caused by the novel coronavirus (SARS-CoV-2). In this paper, we empirically investigate the ecologic association between long-term concentrations of area-level fine particulate matter (PM2.5) and excess deaths in the first quarter of 2020 in municipalities of Northern Italy. The study accounts for potentially spatial confounding factors related to urbanization that may have influenced the spreading of SARS-CoV-2 and related COVID-19 mortality. Our epidemiological analysis uses geographical information (e.g., municipalities) and negative binomial regression to assess whether both ambient PM2.5 concentration and excess mortality have a similar spatial distribution. Our analysis suggests a positive association of ambient PM2.5 concentration on excess mortality in Northern Italy related to the COVID-19 epidemic. Our estimates suggest that a one-unit increase in PM2.5 concentration (µg/m3) is associated with a 9% (95% confidence interval: 6% - 12%) increase in COVID-19 related mortality. Keywords: COVID-19, Mortality, Pollution, Italy, Municipalities Classification-JEL: Q53, I18, J11 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.07 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-007-report.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.07 Title: Port of the Future - Addressing Efficiency and Sustainability at the Port of Livorno with 5G Author-Name: Laura Cavalli Author-X-Name-First: Laura Author-X-Name-Last: Cavalli Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Giulia Lizzi Author-X-Name-First: Giulia Author-X-Name-Last: Lizzi Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Abstract: Adapting traditional business models to be more cost-effective, and socially and environmentally sustainable – the triple bottom line of sustainable development – is becoming increasingly important. This applies to all industries, diverse and multidimensional sectors and activities, of which ports are a key example. This can be achieved by implementing sustainable port growth policies, through new or re-designed operational planning. As part of this, introducing new technologies into port processes and ecosystems that factor in the environment, but have wider-reaching benefits, will enable a move towards the port of the future. Although the expected consequences of a changed climate are one of the reasons behind actions in coastal protection and port management, issues such as scarcity of prime building locations, use of resources, environmental impact and the lives of neighboring communities also affect business decisions. 5G networks and digital technologies are crucial to addressing these challenges and transforming port operations to generate sustainable development. Different methods can be used to measure the impact of technological advancements on competitiveness, efficiency and growth of the sector. In this report, however, we identify the UN Sustainable Development Goals (SDGs) and their corresponding measurable key port performance indicators that can be used to monitor sustainability performance and help make business decisions for port master plans. Launched in 2015 as part of the 2030 Agenda for Sustainable Development, the 17 SDGs and their 169 associated targets represent an authoritative global guideline to achieving sustainability across different sectors. The agenda has many targets that can be directly or indirectly linked to port operations. These include the protection and management of ecosystems, as well as goals related to infrastructure and the circular economy, sustainable cities and communities, principles of good corporate governance, and data transmissibility and partnership relations management. With a timeline stretching to 2030, port authorities have time and capacity to contribute to the accomplishment of the 2030 Agenda for Sustainable Development. Achieving the SDGs also requires public and private sector partnerships. In such a setup, port community actors are engines for change. They not only facilitate the reduction of emissions, to enable energy transition and stimulate the circular economy, but are also points of dialogue with urban stakeholders and port cities. Keywords: 5G, Sustainability, Port, SDGs Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.08 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-008.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.08 Title: Institutional Fragmentation and Urbanisation in the EU Cities Author-Name: Federica Cappelli Author-X-Name-First: Federica Author-X-Name-Last: Cappelli Author-WorkPlace-Name: Roma Tre University Author-Name: Gianni Guastella Author-X-Name-First: Gianni Author-X-Name-Last: Guastella Author-WorkPlace-Name: Università Cattolica del Sacro Cuore and Fondazione Eni Enrico Mattei Author-Name: Stefano Pareglio Author-X-Name-First: Stefano Author-X-Name-Last: Pareglio Author-WorkPlace-Name: Università Cattolica del Sacro Cuore and Fondazione Eni Enrico Mattei Abstract: This article examines the relationship between institutional fragmentation and the spatial extent of cities in Europe’s Functional Urban Areas. European Union planning regulations vary across member states, but in most cases, local authorities determine land use within the more general regulatory frameworks set by national or subnational authorities. More decentralised and fragmented settings may favour urban sprawl, allowing developers to avoid land-use restrictions in one municipality by moving to adjacent ones and providing incentives for municipalities to adopt less strict land-conversion regulations to attract households and workers. The empirical results fully support this hypothesis and unveil significant differences between small and large cities, the effect of governance fragmentation being a substantial factor in the latter case. Keywords: Urban Sprawl, Institutional Fragmentation, Threshold Regression Classification-JEL: R52, R58, C24 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.09 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-009.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.09 Title: M-LED: Multi-sectoral Latent Electricity Demand Assessment for Energy Access Planning Author-Name: Giacomo Falchetta Author-X-Name-First: Giacomo Author-X-Name-Last: Falchetta Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) and Cattolica University Author-Name: Nicolò Stevanato Author-X-Name-First: Nicolò Author-X-Name-Last: Stevanato Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) and Politecnico di Milano, Department of Energy Author-Name: Magda Moner-Girona Author-X-Name-First: Magda Author-X-Name-Last: Moner-Girona Author-WorkPlace-Name: European Commission, Joint Research Centre (JRC) Author-Name: Davide Mazzoni Author-X-Name-First: Davide Author-X-Name-Last: Mazzoni Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM) Author-Name: Emanuela Colombo Author-X-Name-First: Emanuela Author-X-Name-Last: Colombo Author-WorkPlace-Name: Politecnico di Milano, Department of Energy Author-Name: Manfred Hafner Author-X-Name-First: Manfred Author-X-Name-Last: Hafner Author-WorkPlace-Name: Fondazione Eni Enrico Mattei (FEEM), John Hopkins University SAIS and Sciences Po PSIA Abstract: Globally about 800 million people live without electricity at home, over two thirds of which are in sub-Saharan Africa. Ending energy poverty is a key development priority because energy plays an enabling role for human wellbeing and economic activities. Planning electricity access infrastructure and allocating resources efficiently requires a careful assessment of the diverse energy needs across space, time, and sectors. However, because of data scarcity, most country or regional-scale electrification planning studies have been based on top-down electricity demand targets. Yet, poorly representing the heterogeneity in the electricity demand can lead to inappropriate energy planning, inaccurate energy system sizing, and misleading cost assessments. Here we introduce M-LED, Multi-sectoral Latent Electricity Demand, a geospatial data processing platform to estimate electricity demand in communities that live in energy poverty. The key novelties of the platform are the multi-sectoral, bottom-up, time-explicit demand evaluation and the assessment of water-energy-agriculture-development interlinkages. We apply the methodology to the country-study of Kenya. Our findings suggest that a bottom-up approach to evaluating energy needs across space, time, and sectors is likely to improve the reliability and accuracy of supply-side electrification modelling and therefore of electrification planning and policy. Keywords: Electricity Access, Energy Demand, Rural Development, Bottom-up Modelling, Sub-Saharan Africa, Multi-sectoral Approach, Water-Energy-Food-Environment Nexus Classification-JEL: Q4, Q41, O13 Creation-Date: 2020-08 Template-Type: ReDIF-Paper 1.0 Number: 2020.10 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-010.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.10 Title: Covid-19 e didattica a distanza.Il caso Basilicata, una regione a rischio digital divide Author-Name: Marcella De Filippo Author-X-Name-First: Marcella Author-X-Name-Last: De Filippo Author-WorkPlace-Name: FEEM Author-Name: Annalisa Percoco Author-X-Name-First: Annalisa Author-X-Name-Last: Percoco Author-WorkPlace-Name: FEEM Author-Name: Angela Voce Author-X-Name-First: Angela Author-X-Name-Last: Voce Author-WorkPlace-Name: FEEM Abstract: This paper presents the implications that Covid-19 has had on educational systems as a result of the application of social distancing measures imposed on people by the governments of each individual country. The lockdown has accelerated digitalization but has also shown the internal weaknesses and fragilities of states. Distance learning (DAD) has been the response of schools to the suspension of lessons in order to guarantee students' right to education. The working paper explains what DAD is and also presents some data, collected by the major international and national organizations, on the level of digitization of the Italian school; it then explores digital education in Lucanian schools through the analysis of statistical sources and literature available and through the questionnaire administered in CAWI modality to a sample of teachers in Lucania. The field survey studies the current condition of infrastructures and the digital literacy of teachers, with a specific focus on the management of the emergency phase, in order to draw policy indications and useful ideas for a new programming stage that will be able to take advantage of all the new opportunities created within the pandemic. To conclude our argumentation, we outline some of the good practices present in Basilicata, which for several years now has been experimenting with special innovative educational activities that arise from forms of business social responsibility. Projects promoted by companies to support the innovation of the school system represent a strategic investment for market competitiveness and economic development. Ensuring quality, fair and inclusive education is the fourth goal of the UN Agenda 2030 and is a fundamental one for the welfare of both individuals and societies. Investing in education, in the medium and long term, will reduce inequalities and lead to the economic, cultural and social change that is necessary for the prosperity of people and the Planet and for the realization of new models of sustainable development. Keywords: Covid 19, Digitalization, Technology, Education, Distance learning, SDGs, Basilicata Classification-JEL: Creation-Date: 2020-09 Template-Type: ReDIF-Paper 1.0 Number: 2020.11 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-011.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.11 Title: The Contribution of the European Cohesion Policy to the 2030 Agenda: an Application to the Autonomous Region of Sardinia Author-Name: Laura Cavalli Author-X-Name-First: Laura Author-X-Name-Last: Cavalli Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Sandro Sanna Author-X-Name-First: Sandro Author-X-Name-Last: Sanna Author-WorkPlace-Name: Regione Autonoma della Sardegna, Centro Regionale di Programmazione (CRP) Author-Name: Mia Alibegovic Author-X-Name-First: Mia Author-X-Name-Last: Alibegovic Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Filippo Arras Author-X-Name-First: Filippo Author-X-Name-Last: Arras Author-WorkPlace-Name: Regione Autonoma della Sardegna, Assessorato della Difesa dell’Ambiente Author-Name: Gianluca Cocco Author-X-Name-First: Gianluca Author-X-Name-Last: Cocco Author-WorkPlace-Name: Regione Autonoma della Sardegna, Assessorato della Difesa dell’Ambiente Author-Name: Luca Farnia Author-X-Name-First: Luca Author-X-Name-Last: Farnia Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Emanuela Manca Author-X-Name-First: Emanuela Author-X-Name-Last: Manca Author-WorkPlace-Name: Regione Autonoma della Sardegna, Assessorato della Difesa dell’Ambiente Author-Name: Luisa F. Mulas Author-X-Name-First: Luisa F. Author-X-Name-Last: Mulas Author-WorkPlace-Name: Regione Autonoma della Sardegna, Assessorato della Difesa dell’Ambiente Author-Name: Marco Onnis Author-X-Name-First: Marco Author-X-Name-Last: Onnis Author-WorkPlace-Name: Regione Autonoma della Sardegna, Centro Regionale di Programmazione (CRP) Author-Name: Sandro Ortu Author-X-Name-First: Sandro Author-X-Name-Last: Ortu Author-WorkPlace-Name: Assessorato del Lavoro, formazione professionale, cooperazione e sicurezza sociale - Servizio di supporto all’Autorità di Gestione del FSE Author-Name: Ilenia G. Romani Author-X-Name-First: Ilenia G. Author-X-Name-Last: Romani Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Marta Testa Author-X-Name-First: Marta Author-X-Name-Last: Testa Author-WorkPlace-Name: Assessorato del Lavoro, formazione professionale, cooperazione e sicurezza sociale - Servizio di supporto all’Autorità di Gestione del FSE Abstract: The 2030 Agenda has been adopted on a global level, but its implementation must also take place at the local level (Cavalli, 2018). The integration between the different levels of government - supranational, national and local - is essential; they must necessarily cooperate and coordinate their actions to ensure the effective implementation of every Goal of the Agenda. It is evident that the European Union, with its Member States, is fully committed towards the implementation of the 2030 Agenda and its SDGs (Sanna et al., 2019). In particular, the concept of sustainable development, clearly stated in the five Strategic Objectives, is also expressed in future operational programmes in the context of Cohesion Policy. The latter is one of the most transversal policies of the European Union, including not only economic cohesion but also the social and territorial ones, and “contributes to most, if not all 17 SDGs" (European Commission, 2019). This paper proposes a methodology that evaluates the sustainability of the operational programmes co-financed by the Union with reference to the 169 targets of the 2030 Agenda and it is based specifically on the 143 intervention fields. The developed methodology can be used as a decision support tool for the European Union itself as a means of monitoring expenditure with reference to the 2030 Agenda in the various European Cohesion Policies. The present work briefly presents the model developed and its first results, deriving from the pilot applications to the Sardinia ERDF and ESF 2014-2020 ROPs. Keywords: Sustainable Development, SDGs, Cohesion Policy, Localization Classification-JEL: R58, H83, C43, Q56 Creation-Date: 2020-10 Template-Type: ReDIF-Paper 1.0 Number: 2020.12 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-012.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.12 Title: How does Climate Change Affect the Transition of Power Systems: the Case of Germany Author-Name: Alexander Golub Author-X-Name-First: Alexander Author-X-Name-Last: Golub Author-WorkPlace-Name: American University Author-Name: Kristina Govorukha Author-X-Name-First: Kristina Author-X-Name-Last: Govorukha Author-WorkPlace-Name: Technische Universität Bergakademie Freiberg Author-Name: Philip Mayer Author-X-Name-First: Philip Author-X-Name-Last: Mayer Author-WorkPlace-Name: Technische Universität Bergakademie Freiberg Author-Name: Dirk Rübbelke Author-X-Name-First: Dirk Author-X-Name-Last: Rübbelke Author-WorkPlace-Name: Technische Universität Bergakademie Freiberg Abstract: The effects of extreme weather events, such as heat waves and droughts are taken into account in both global and European policies. Accordingly, the protection of critical infrastructures and in particular, the resilience of the energy sector was the subject of intense research. There are regional differences in the degree of exposure to extreme events. In Northern Europe, their intensity has increased dramatically within a decade. In our analysis we identify emerging risks of extreme weather events, in particular, droughts and high temperatures, for the German power sector. Furthermore, we consider how European policy addressed these severe risks. Our analysis is based on extensive datasets covering temperature and drought data for the last 40 years. We find evidence of a higher frequency of power plants outages as a consequence of droughts and high temperatures. We investigate increases in the wholesale electricity price and price volatility and develop a capacity-adjusted drought index. The results are used to assess the monetary loss of power plant outages due to heatwaves and droughts. We stress that increasing frequencies of such extreme weather events will aggravate the observed problem, especially with respect to the transition of the power sector. Keywords: Electricity, Energy, Energy Utilities, Gas, Hydrocarbons, Climate, Climate Change, Desertification, Drought, Global Warming, Weather Classification-JEL: Q4, Q54 Creation-Date: 2020-10 Template-Type: ReDIF-Paper 1.0 Number: 2020.13 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-013.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.13 Title: Green Hydrogen: the Holy Grail of Decarbonisation? An Analysis of the Technical and Geopolitical Implications of the Future Hydrogen Economy Author-Name: Rossana Scita Author-X-Name-First: Rossana Author-X-Name-Last: Scita Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Pier Paolo Raimondi Author-X-Name-First: Pier Paolo Author-X-Name-Last: Raimondi Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Michel Noussan Author-X-Name-First: Michel Author-X-Name-Last: Noussan Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Abstract: Hydrogen is currently enjoying a renewed and widespread momentum in the energy market. In the last years, demand for hydrogen has substantially increased worldwide, with several countries developing hydrogen national strategies, and private companies investing in the development of hydrogen related projects. Green hydrogen’s environmental sustainability and versatility contribute to its representation as the holy grail of decarbonisation. This working paper challenges this definition, by analysing the historical process which contributed to hydrogen’s rise, showing the current uses of hydrogen and the major obstacles to the implementation of a green hydrogen economy, and assessing the geopolitical implications of a future hydrogen society. Particularly, the paper shows that the hydrogen economy is still far from becoming reality. Even though investments in green hydrogen technologies and projects have increased over the last decade, there still remains a high number of unresolved issues, relating to technical challenges and geopolitical implications. Nonetheless, a clean hydrogen economy offers promising opportunities not only to fight climate change, but also to redraw geopolitical relations between states. The energy transition is already taking place, with renewable energies gradually eroding the global energy system based on fossil fuels. A global transformation, set in motion by the need to decarbonise the energy system, will have the potential to redraw international alliances and conflicts. In this context, hydrogen may play a crucial role. By 2050, hydrogen could indeed meet up to 24% of the world’s energy needs, thus highly influencing the geopolitical landscape. In this regard, the choice over which pathway to take for the creation of hydrogen value chains will have a huge geopolitical impact, resulting in new dependencies and rivalries between states. Conclusively, if national governments are willing to spur the emergence of a green hydrogen economy, they should heavily invest in research and development, encourage the development of a clean hydrogen value chain, and promote common international standards. Moreover, they should also take into account hydrogen’s geopolitical implications. If the hydrogen economy is well-managed, it could indeed increase energy security, diversify the economy, and strengthen partnerships with third countries. Keywords: Green Hydrogen, Decarbonization, Energy, Energy Policy Classification-JEL: Q4, Q42, O14 Creation-Date: 2020-10 Template-Type: ReDIF-Paper 1.0 Number: 2020.14 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-014.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.14 Title: Per Unit and Ad Valorem Royalties in a Patent Licensing Game Author-Name: Marta Montinaro Author-X-Name-First: Marta Author-X-Name-Last: Montinaro Author-WorkPlace-Name: University of Salento Author-Name: Rupayan Pal Author-X-Name-First: Rupayan Author-X-Name-Last: Pal Author-WorkPlace-Name: Indira Gandhi Institute of Development Research (IGIDR) Author-Name: Marcella Scrimitore Author-X-Name-First: Marcella Author-X-Name-Last: Scrimitore Author-WorkPlace-Name: University of Salento Abstract: In a context of product innovation, we study two-part tariff licensing between a patentee and a potential rival which compete in a differentiated product market characterized by network externalities. The latter are shown to crucially affect the relative profitability of Cournot vs. Bertrand when a per unit royalty is applied. By contrast, we find that Cournot yields higher profits than Bertrand under ad valorem royalties, regardless of the strength of network effects. Keywords: Licensing, Product Innovation, Bertrand, Cournot, Network Effects Classification-JEL: L13, L20, D43 Creation-Date: 2020-10 Template-Type: ReDIF-Paper 1.0 Number: 2020.15 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-015.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.15 Title: Seasonality Fingerprint on Global Trading of Food-commodities. A Data-mining Approach Author-Name: Stefania Quaini Author-X-Name-First: Stefania Author-X-Name-Last: Quaini Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Sebastiano Saccani Author-X-Name-First: Sebastiano Author-X-Name-Last: Saccani Author-WorkPlace-Name: Fondazione Eni Enrico Mattei Author-Name: Sergio Vergalli Author-X-Name-First: Sergio Author-X-Name-Last: Vergalli Author-WorkPlace-Name: Fondazione Eni and University of Brescia Author-Name: Luigi Assom Author-X-Name-First: Luigi Author-X-Name-Last: Assom Author-Name: Marco Beria Author-X-Name-First: Marco Author-X-Name-Last: Beria Author-Name: Alessandro Codello Author-X-Name-First: Alessandro Author-X-Name-Last: Codello Author-WorkPlace-Name: Instituto de Fisica, Faculdad de Ingenieria, Universidad de la Republica Author-Name: Maurizio Monaco Author-X-Name-First: Maurizio Author-X-Name-Last: Monaco Author-Name: Riccardo Sabatini Author-X-Name-First: Riccardo Author-X-Name-Last: Sabatini Abstract: We analyze the United Nations commodities trade database (UN comtrade), comprised of international commodities exchanges in volume and price with monthly resolution. We introduce a trade impact index to quantify the impact, in terms of distance travelled, of importing a specific food raw commodity in a specific period of the year and in a specific country of the world. This index captures the seasonal exchange of raw commodities in an insightful and concise manner. Keywords: Trade, Food Commodities, Resource Access and Availability, Index, Fingerprint, Data Mining Classification-JEL: F18, Q17, C8, C43 Creation-Date: 2020-10 Template-Type: ReDIF-Paper 1.0 Number: 2020.16 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-016.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.16 Title: Debt and Transfer Pricing: Implications on Business Tax Policy Author-Name: Nicola Comincioli Author-X-Name-First: Nicola Author-X-Name-Last: Comincioli Author-WorkPlace-Name: University of Brescia and Fondazione Eni Enrico Mattei Author-Name: Paolo M. Panteghini Author-X-Name-First: Paolo M. Author-X-Name-Last: Panteghini Author-WorkPlace-Name: University of Brescia and CESifo Author-Name: Sergio Vergalli Author-X-Name-First: Sergio Author-X-Name-Last: Vergalli Author-WorkPlace-Name: University of Brescia and Fondazione Eni Enrico Mattei Abstract: In this article we introduce model to describe the behavior of a multinational company (MNC) that operates transfer pricing and debt shifting, with the purpose of incrementing its value, intended as the sum of equity and debt. We compute, in a stochastic environment and under default risk, the optimal shares of profit and debt to be shifted and show how they are a ected by exogenous features of the market. In addition, by means of a numerical analysis, we simulate and quantify the benefit arising from the exploitation of tax avoidance practices and study the corresponding impact on MNC's fundamental indicators. A wide sensitivity analysis on model's parameters is also provided. Keywords: Capital Structure, Default Risk, Business Taxation and Welfare Classification-JEL: H25, G33, G38 Creation-Date: 2020-10 Template-Type: ReDIF-Paper 1.0 Number: 2020.17 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-017.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.17 Title: Overstraining International Climate Finance: When Conflicts of Objectives Threaten Its Succes Author-Name: Wolfgang Buchholz Author-X-Name-First: Wolfgang Author-X-Name-Last: Buchholz Author-WorkPlace-Name: University of Regensburg and CESifo Author-Name: Dirk Rübbelke Author-X-Name-First: Dirk Author-X-Name-Last: Rübbelke Author-WorkPlace-Name: Technische Universität Bergakademie Freiberg Abstract: Expectations concerning international climate finance have increased considerably. In par-ticular, provisions for international transfer schemes are an important element in the Paris Agreement. Yet, climate finance is not only seen as a tool to efficiently combat global warm-ing, but also to solve development problems in the recipient countries. Thereby, conflicts between distributive and allocative objectives arise, which threaten overall performance of such transfer schemes. Given the severity of the climate change problem, we raise concerns whether the world can afford climate transfer schemes that do not focus on prevention of (and adaptation to) climate change, but are considered as a vehicle of rent-seeking by many agents. In line with the famous Tinbergen rule we argue that other sustainability problems and issues of global fairness should not be primarily addressed by climate finance but should be mainly tackled by other means. Future designs of international transfer schemes within the framework of the Paris Agree-ment are to be based on experience gained from existing mechanisms. Therefore, we con-sider different existing schemes using a graphical technique first proposed by David Pearce and describe the conflicts between allocative and distributional goals that arise. Keywords: Ancillary Benefits, CDM, Climate Finance, Co-benefits, Global Environment Facility, Incremental Cost, International Transfers, Paris Agreement, Premium Prices Classification-JEL: H41, H87, Q54, Q56 Creation-Date: 2020-11 Template-Type: ReDIF-Paper 1.0 Number: 2020.18 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-018.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.18 Title: Mothballing in a Duopoly: Evidence from a (Shale) Oil Market Author-Name: Nicola Comincioli Author-X-Name-First: Nicola Author-X-Name-Last: Comincioli Author-WorkPlace-Name: University of Brescia and Fondazione Eni Enrico Mattei Author-Name: Verena Hagspiel Author-X-Name-First: Verena Author-X-Name-Last: Hagspiel Author-WorkPlace-Name: Norwegian University of Science and Technology Author-Name: Peter M. Kort Author-X-Name-First: Peter M. Author-X-Name-Last: Kort Author-WorkPlace-Name: Tilburg University and University of Antwerp Author-Name: Francesco Menoncin Author-X-Name-First: Francesco Author-X-Name-Last: Menoncin Author-WorkPlace-Name: University of Brescia Author-Name: Raffaele Miniaci Author-X-Name-First: Raffaele Author-X-Name-Last: Miniaci Author-WorkPlace-Name: University of Brescia Author-Name: Sergio Vergalli Author-X-Name-First: Sergio Author-X-Name-Last: Vergalli Author-WorkPlace-Name: University of Brescia and Fondazione Eni Enrico Mattei Abstract: The mothballing option has been studied in the literature, but mainly in decision theoretic frameworks. This paper looks at it from a strategic point of view and applies it to an incumbent-entrant framework. In particular, based on the recent strategic interactions between OPEC and the shale oil industry, we conduct a case study where the incumbent OPEC is a exible producer that competes with a representative shale oil firm. Upon entry, the latter produces a fixed amount but it can apply the mothballing option in times of low demand. Our main results are threefold. First, we find that under low demand uncertainty, the mothballing option has a negative e ect on the value of the entrant. Second, a large market share of the entrant will stimulate mothballing, caused by a so-called squeeze strategy of the incumbent. Third, our empirical analysis of the (shale) oil market learns that a higher demand elasticity induces mothballing. Keywords: Crude Oil, Shale Oil, Mothballing, OPEC, Output Game Classification-JEL: L12, L71, Q41 Creation-Date: 2020-11 Template-Type: ReDIF-Paper 1.0 Number: 2020.19 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-019.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.19 Title: Commuting in Europe: An Inter-regional Analysis on its Determinants and Spatial Effects Author-Name: Chiara Castelli Author-X-Name-First: Chiara Author-X-Name-Last: Castelli Author-WorkPlace-Name: Università degli Studi di Brescia Author-Name: Angela Parenti Author-X-Name-First: Angela Author-X-Name-Last: Parenti Author-WorkPlace-Name: Università degli Studi di Pisa Abstract: Commuting shapes countless everyday-lives around the world, with dynamics varying from city to regional and cross regional level. Taking as reference the free-movement EU-28 area (plus Switzerland and Norway), the analysis considers a total sample of 195 NUTS2 regions over the decade 2007-2017 to depict regional cross-border dynamics, thus including the impacts of the 2008 financial crisis. The tested presence of spatial interactions among regions leads to the adoption of the Spatial Durbin Model in a panel context, thus including fixed effects in order to eliminate any time influence on variables as well as any regional idiosyncrasy (i.e. cultural, institutional etc.). The outcoming analysis highlights the potentiality of temporary contracts in preserving jobs during crisis, as they offer a flexible tool for employment adjustments. Moreover, the regional specialization in the knowledge sector is found to be an important attractor of external workers as well as a relatively effective retaining factor of the domestic labour force. But there are also other factors affecting mobility. For instance, the perceived commuting distance significantly depends on the time needed to reach the corresponding workplace and this study finds that the more diffused is the transportation system (in terms of highways’ density) the higher the commuting outflow. A similar impact is found with respect to housing costs, that is the cheaper is the relative house price of the region of residence with respect to the surrounding territories, the more travel-to-work becomes an attractive option, even in its extend of long-distance commute. Finally, a last strong push factor of mobility is found in the lack job opportunities, here expressed as the unemployment rate differential for each single territory with respect to its surroundings. Indeed, the higher the lack of job opportunities in the domestic market with respect to its neighbours, the higher the share of workers that will try to seek their fortune crossing the regional border. Keywords: Cross-border Commuting Outflows, Regional Economics, Panel Analysis, Fixed Effects, Spatial Econometrics Classification-JEL: C51, C54, C55, J21, J61, J62, R11, R12 Creation-Date: 2020-11 Template-Type: ReDIF-Paper 1.0 Number: 2020.20 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-020.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.20 Title: Collusion in Quality-Segmented Markets Author-Name: Iwan Bos Author-X-Name-First: Iwan Author-X-Name-Last: Bos Author-WorkPlace-Name: Maastricht University Author-Name: Marco A. Marini Author-X-Name-First: Marco A. Author-X-Name-Last: Marini Author-WorkPlace-Name: University of Rome La Sapienza and CREI Abstract: We appreciate the comments of and discussions with David Collie, Luis Corchón, Jean Gabszewicz, Andrey Minaev, Riccardo Saulle, Attila Tasnádi, Jacques-François Thisse and participants at the Oligo Workshop in Nottingham. All opinions and errors are ours alone. Keywords: Partial Cartels, Price Collusion, Market Segmentation, Vertical Di¤erentiation Classification-JEL: D4, L1 Creation-Date: 2020-11 Template-Type: ReDIF-Paper 1.0 Number: 2020.21 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-021.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.21 Title: Investigating the Origins of Differentiated Vulnerabilities to Climate Change and their Effects on Wellbeing Author-Name: Federica Cappelli Author-X-Name-First: Federica Author-X-Name-Last: Cappelli Author-WorkPlace-Name: Roma Tre University Abstract: The paper traces the evolution the concept of socioeconomic vulnerability to climate change has followed in the academic and scientific debate. The recent recognition of vulnerability as a social construction has shifted the focus of the analysis on the dimension of adaptive capacity, i.e. the human response to environmental stresses and climate hazards. Depending on the social and institutional factors in place in a society, this human response can either mitigate or exacerbate harm. In particular, the paper focuses on the role of both vertical and horizontal inequalities in determining differentiated vulnerabilities across individuals and population groups. Inequality in the distribution of income and relevant resources is primarily a question of access to tangible and intangible assets and capabilities that can enable individuals or population groups to prevent and cope with impacts from extreme weather events. Keywords: Climate Change, Vulnerability, Inequality Classification-JEL: Q54, D63, O15 Creation-Date: 2020-11 Template-Type: ReDIF-Paper 1.0 Number: 2020.22 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-022.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.22 Title: Nonlinearities and the Determinants of Inequality: New Panel Evidence Author-Name: Antonio Francesco Gravina Author-X-Name-First: Antonio Francesco Author-X-Name-Last: Gravina Author-WorkPlace-Name: University of Messina Abstract: Relying on data for a panel of 90 economies over 1970-2015 and System-GMM estimates, we extend the standard Kuznets-curve empirical framework to investigate how financial development, globalisation and technology affect income inequality. Our findings reveal the presence of significant nonlinearities, consistent with either U-shaped or inverted U-shaped relationships. As such, depending on whether a certain threshold value is achieved, the same determinants of income distribution can exert opposite effects in different countries. Globalisation is associated to increasing inequality in most advanced economies, but to falling disparities for the large majority of emerging economies. Further, while the effects for advanced economies are mixed, technology and financial development lead to increasing inequality for most emerging economies. Hence, particularly in countries in earlier stages of development, policymakers aiming at fostering growth via technological progress or financial development should also consider the nature of the trade-offs with inequality and how policy can improve them. Keywords: Inequality, Globalisation, Technology, Finance, Nonlinearity, Panel data Classification-JEL: C01, C33, F63, O11, O15, O33 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.23 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-023.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.23 Title: Rethinking Venice from an Ecosystem Services Perspective Author-Name: Jane da Mosto Author-X-Name-First: Jane Author-X-Name-Last: da Mosto Author-WorkPlace-Name: We are Venice, Cambridge University Author-Name: Camilla Bertolini Author-X-Name-First: Camilla Author-X-Name-Last: Bertolini Author-WorkPlace-Name: Ca' Foscari University Author-Name: Anil Markandya Author-X-Name-First: Anil Author-X-Name-Last: Markandya Author-WorkPlace-Name: University of the Basque Country Author-Name: Paulo A.L.D. Nunes Author-X-Name-First: Paulo A.L.D. Author-X-Name-Last: Nunes Author-WorkPlace-Name: FAO Author-Name: Tom Spencer Author-X-Name-First: Tom Author-X-Name-Last: Spencer Author-WorkPlace-Name: Cambridge University Author-Name: Arnas Palaima Author-X-Name-First: Arnas Author-X-Name-Last: Palaima Author-WorkPlace-Name: Cambridge University Author-Name: Laura Onofri Author-X-Name-First: Laura Author-X-Name-Last: Onofri Author-WorkPlace-Name: University of Padua Abstract: Safeguarding the future of Venice is a globally recognised challenge of urban sustainability. We propose a sustainable management model, alternative to the current strategy, that primarily focuses on the built heritage and which interprets the city together with its encircling lagoon as a matrix of interlinked natural, cultural and social capital. In particular, Venetian natural capital can be valued as a stock of wealth that produces a flow of income, its ecosystem services. Such values can be measured in economic, including monetary, terms. Using the examples of salt marsh and seagrass carbon sequestration, together with sediment retention, water purification and artisanal fishery and aquaculture, we show that it is economically viable to develop and reorientate the nearfuture trajectory of Venice and its lagoon with reference to a more sustainable pathway, where the natural capital is a driver of future economic development and, as such, is comparable with the value of currently dominant economic activities (port and mass tourism). Keywords: Natural Capital, Ecosystem Services,Eecosystem Services Economic Valuation, Sustainability, Venice Lagoon, Alternative Management Strategies Classification-JEL: Q56, Q57, R58 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.24 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-024.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.24 Title: Do Voters Choose Better Politicians than Political Parties? Evidence from a Natural Experiment in Italy Author-Name: Maria Rosaria Alfano Author-X-Name-First: Maria Rosaria Author-X-Name-Last: Alfano Author-WorkPlace-Name: University of Campania Author-Name: Anna Laura Baraldi Author-X-Name-First: Anna Laura Author-X-Name-Last: Baraldi Author-WorkPlace-Name: University of Campania Author-Name: Erasmo Papagni Author-X-Name-First: Erasmo Author-X-Name-Last: Papagni Author-WorkPlace-Name: University of Campania Abstract: This work analyses the effect of the two preference voting systems – proportional system with blocked lists of candidates vs proportional system with open list of candidates - on the quality of politicians. The exogenous variation in the Italian Parliament electoral system (Law n. 270/2005) - which marked the switch from an open to a closed list - allows us implement a Difference-inDifferences approach to compare the change in politicians' quality (as their education level) across the treatment group (the Parliamentarians) and the control group (the regional councillors) of politicians before and after the electoral reform is enforced. We find that the introduction of the reform lowered the politicians' ability. The result is common for Senators and Deputies and it is robust to the inclusion of control variables and to the restriction of treatment group to pastappointed Parliamentarians. This evidence suggests that voters are able to choose more qualifying politicians than political parties and it may be an argument in favor the re-introduction, in the electoral law, of preference voting schemes. Keywords: Ballot Structure, Preference Vote, Politicans’ Quality, Human Capital Classification-JEL: D72, K16, C21 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.25 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-025.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.25 Title: Economics of Multifunctional Forestry in the Sámi People Homeland Region Author-Name: Vesa-Pekka Parkatti Author-X-Name-First: Vesa-Pekka Author-X-Name-Last: Parkatti Author-WorkPlace-Name: University of Helsinki Author-Name: Olli Tahvonen Author-X-Name-First: Olli Author-X-Name-Last: Tahvonen Author-WorkPlace-Name: University of Helsinki Abstract: We study forestry in the Sámi people homeland region to understand an ongoing conflict between conventional forest logging and maintaining forests as reindeer pastures for indigenous people. We use a detailed model that simultaneously includes timber production, carbon storage in living biomass, deadwood and wood products, negative effects on reindeer husbandry, and a flexible optimization between rotation forestry (cf. clearcuts) and forestry that maintains continuous forestcover. We show that the profitability of conventional forestry is based on utilizing existing forest stands, an outcome that can be understood as forest capital mining. By varying the carbon price between €0 tCO2 and €40 tCO2, we show that the optimal solutions based on a 3% interest rate are always continuous cover forestry. A carbon price of €60 - €100tCO2 implies that it is optimal to give up timber production and utilize forests for carbon storage and reindeer pasture only. Given the present forest management practices and an old-growth forest as the initial state, the carbon choke price decreases to €14–€20 CO2. The optimal choice between timber production and utilizing forests purely for carbon storage and reindeer husbandry may depend on the initial forest state. The choice between maintaining old-growth forest and converting land to timber production, as determined by dynamic economic analysis, is incompatible with the frequently applied approach based on carbon debt and the carbon payback period. Keywords: Arctic Forestry, Indigenous Peoples, Sámi, Continuous Cover Forestry, Uneven-Aged Forestry, Carbon Sequestration, Reindeer Husbandry, Carbon Debt, Payback Period Classification-JEL: Q2, Q23, Q24, Q28 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.26 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-026.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.26 Title: Mandatory Disclosure of Managerial Contracts in Nonprofit Organizations Author-Name: Michael Kopel Author-X-Name-First: Michael Author-X-Name-Last: Kopel Author-WorkPlace-Name: Institute of Organization and Economics of Institutions, University of Graz Author-Name: Marco A. Marini Author-X-Name-First: Marco A. Author-X-Name-Last: Marini Author-WorkPlace-Name: University of Rome La Sapienza, CREI Abstract: Nonprofit organizations have been recently mandated to disclose the details of their executives’ compensation packages. Contract information is now accessible not only to current and prospective donors, but also to rival nonprofit organizations competing for donations in the fundraising market. Our aim is to investigate the impact of publicly available contract information on fundraising competition of nonprofit organizations. We argue that, although such provision makes contract information available to multiple stakeholders and increases the transparency of the nonprofit sector, it also induces nonprofits to use managerial incentive contracts strategically. In particular, we find that the observability of incentive contracts relaxes existing fun draising competition. This is beneficial in terms of nonprofits’ outputs, in particular when these organizations are trapped in a situation of excessive fundraising activities. However, we show that publicly available contract information distorts nonprofits’ choice of projects, thus potentially inducing socially inefficient project clustering. Keywords: Nonprofit Organizations, Mandatory Contract Disclosure, Fundraising Competition, Strategic Incentive Contracts, Project Clustering, Project Specialization Classification-JEL: L31, D64, F35, L13 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.27 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-027.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.27 Title: Welfare Costs of Catastrophes: Lost Consumption and Lost Lives Author-Name: Ian W. R. Martin Author-X-Name-First: Ian W. R. Author-X-Name-Last: Martin Author-WorkPlace-Name: London School of Economics Author-Name: Robert S. Pindyck Author-X-Name-First: Robert S. Author-X-Name-Last: Pindyck Author-WorkPlace-Name: Sloan School of Management, MIT Abstract: Most of the literature on the economics of catastrophes assumes that such events cause a reduction in the stream of consumption, as opposed to widespread fatalities. Here we show how to incorporate death in a model of catastrophe avoidance, and how a catastrophic loss of life can be expressed as a welfare-equivalent drop in consumption. We examine how potential fatalities affect the policy interdependence of catastrophic events and “willingness to pay" (WTP) to avoid them. Using estimates of the “value of a statistical life" (VSL), we find the WTP to avoid major pandemics, and show it is large (10% or more of annual consumption) and partly driven by the risk of macroeconomic contractions. Likewise, the risk of pandemics significantly increases the WTP to reduce consumption risk. Our work links the VSL and consumption disaster literatures. Keywords: Catastrophes, Catastrophic Events, Macroeconomic Contractions, Disasters, Fatalities, Value of Life, Willingness to Pay, Pandemics Classification-JEL: Q5, Q54, D81 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.28 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-028.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.28 Title: Residential and Industrial Energy Efficiency Improvement: A Dynamic General Equilibrium Analysis of the Rebound Effect Author-Name: Sondes Kahouli Author-X-Name-First: Sondes Author-X-Name-Last: Kahouli Author-WorkPlace-Name: Université de Bretagne Occidentale Author-Name: Xavier Pautrel Author-X-Name-First: Xavier Author-X-Name-Last: Pautrel Author-WorkPlace-Name: Université d’Angers Abstract: The aim of this paper is to investigate bi-directional spillovers into residential and industrial sectors induced by energy efficiency improvement (EEI) in both the short- and long-term, and the impact of nesting structure as well as the size of elasticities of substitution of production and utility functions on the magnitude and the transitional dynamic of rebound effect. Developing a dynamic general equilibrium model, we demonstrate that residential EEIs spillovers into the industrial sector through the labor supply channel and industrial EEIs spill-overs into the residential sector through the conventional income channel. Numerical simulations calibrated on the U.S. suggest that not taking into account these spillover effects could lead to mis-estimate the rebound effect especially of residential sector EEIs. We also demonstrate how the size and the duration of the rebound effect depend on the value of elasticities of substitution. Especially, the elasticity of substitution between energy and non-energy consumption in household utility and the elasticity of substitution between physical capital and labor in production play a major role. Numerical simulations suggest that alternative sets of value for the elasticities of substitution may give sizable different patterns of rebound effects in both the short- and long-term. In policy terms, our results suggest that energy effciency policies should be implemented simultaneously with rebound effect offsetting policies by considering short- and long-term wide-economy feedbacks. As a consequence, they recall for considering debates about what type of policy pathways is more effective in mitigating the rebound effect. Keywords: Energy Efficiency, Rebound Effect, Transitional Dynamics, Residential Energy Consumption, Industrial Energy Consumption Classification-JEL: D58, Q43 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.29 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-029.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.29 Title: Which Innovations for a Circular Business Model? A Product Life-Cycle Approach Author-Name: Elisa Chioatto Author-X-Name-First: Elisa Author-X-Name-Last: Chioatto Author-WorkPlace-Name: University of Ferrara, SEEDS Author-Name: Emy Zecca Author-X-Name-First: Emy Author-X-Name-Last: Zecca Author-WorkPlace-Name: University of Ferrara, SEEDS Author-Name: Alessio D’Amato Author-X-Name-First: Alessio Author-X-Name-Last: D’Amato Author-WorkPlace-Name: University Tor Vergata, SEEDS Abstract: The Circular Economy concept has emerged to face current unsustainable economic trends. Circularity requires to go beyond mainstream linear business models in favour of new design strategies and production processes able to support an efficient use and a continuous flow of resources. Clarifying and promoting tools for embedding circularity in firms’ business models is becoming crucial to increase resource productivity and achieve competitive advantages. Notwithstanding eco-innovation has been recognized as a fundamental link to connect circular economy with business models restructuring, still little consensus exists on the boundaries and interlinkages among the concepts of Eco-Innovation, Circular Economy and Circular Business Models. This research contributes to the intersection of these different streams of the literature, and aims to understand which innovations can favour the transition from linear to closed-loop processes, and then to identify circular business models. Relying on a review of circular-oriented innovations, we recognize three main groups of innovations that are expected to change firms’ way of doing business in accordance with circularity, leading to the identification of an original Product Life-Cycle Archetype. Finally, relying on survey data in Emilia Romagna region, we check for the reliability of our theoretical framework in practice, analysing firms’ business strategies from a practical perspective and assessing the current implementation of an innovative path in accordance with circular priorities. The analysis reveals a positive engagement amongst the analysed firms in Emilia Romagna, in terms of cleaner production strategies. By contrast, any business innovation linked to the circular use of products has been found to be implemented. Keywords: Resource Efficiency, Eco-Innovation, Circular Economy, Circular Eco-Innovation, Circular Business Models, Small and Medium Enterprises Classification-JEL: L23, Q55, O32 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.30 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-030.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.30 Title: The Circular City and the Building Sector Author-Name: Gianfranco Franz Author-X-Name-First: Gianfranco Author-X-Name-Last: Franz Author-WorkPlace-Name: University of Ferrara Abstract: The essay deals with the issue of urban circularity understood as a subset of the Circular Economy paradigm, highlighting potential and limits of an emerging new model spreading on a global scale. The critical reasoning starts from a very recent production of institutional documents and the still reduced scientific production around and over this topic to propose an unorthodox interpretation on the relationship between circularity and city. The building industry is considered as a key sector to promote and improve circularity in cities and some experimental case studies are presented as a proof of the relevant potentials. The essay attempts a synthetic revision of the state of the art in Italy. Keywords: Circular Economy, Circular City, Sustainability, Building Industry Classification-JEL: Q01, Q26, Q28, R11, R14, Z10, Z11 Creation-Date: 2020-12 Template-Type: ReDIF-Paper 1.0 Number: 2020.31 File-URL: https://feem-media.s3.eu-central-1.amazonaws.com/wp-content/uploads/NDL2020-031.pdf File-Format: application/pdf Handle: RePEc:fem:femwpa:2020.31 Title: Is Environmentalism the Right Strategy to Decarbonize the World? Author-Name: Marco A. Marini Author-X-Name-First: Marco A. Author-X-Name-Last: Marini Author-WorkPlace-Name: Sapienza Università di Roma Author-Name: Ornella Tarola Author-X-Name-First: Ornella Author-X-Name-Last: Tarola Author-WorkPlace-Name: Sapienza Università di Roma Author-Name: Jacques-François Thisse Author-X-Name-First: Jacques-François Author-X-Name-Last: Thisse Author-WorkPlace-Name: CORE-UCLouvain, HSE University and CEPR Abstract: We study how the supply of environmentalism, which is de?ned by psychic bene?ts (costs) associated with the purchase of high-environmental (low-environmental) qualities, a¤ects the way ?rms choose their products and the ensuing consequences for the global level of pollution. Contrary to general belief, a high supply of environmentalism does not give rise to a better environmental outcome because it endows ?rms with more market power which they use to maximize pro?ts. By contrast, standard policy instruments such as a minimum quality standard or the use of greener technologies leads to a better ecological footprint. Keywords: Environmentalism, Psychic Costs and Benefi?ts, Vertical Product Differentiation, Environmental Policy Classification-JEL: D11, L13, Q50 Creation-Date: 2020-12