An Assessment of the Italian 2007 Complementary Social Security Reform: A Simulation Approach

In this paper we aim at assessing the outcomes of the 2007 Italian reform of the complementary social security scheme and at identifying the determinants behind them. The reform provided workers with relevant incentives to switch the investment of about 7 per cent of their gross yearly wages from a firm‐managed scheme (which took the form of a termination indemnity payment, the Trattamento di Fine Rapporto scheme) to an external pension fund. We provide a theoretical framework to model the workers' problem of choosing between these two different forms of complementary social security schemes and we then perform an agent‐based simulation taking into account all the details of the reform. Differently from previous contributions, we stress the impact that the investment decision has on the financial health of firms and, consequently, on workers' employment stability. Our simulations are able to replicate the Italian data in terms of adhesion rates to complementary social security and also to identify some of the key determinants of that outcome, such as fiscal incentives, individual preferences, the working of both the Italian labour and the financial markets and the productive structure of the Italian economy.     

The Role of Ethnic Prejudice in the Modulation of Cradling Lateralization

Journal of Nonverbal Behavior - The left-cradling bias is the tendency to cradle an infant on the left side, regardless of the individuals’ handedness, culture or ethnicity. Many studies...     

Dynamic decision making: what do people do?

Potentially dynamically-inconsistent individuals create particular problems for economics, as their behaviour depends upon whether and how they attempt to resolve their potential inconsistency. This paper reports on the results of a new experiment designed to help us distinguish between the different types that may exist. We classify people into four types: myopic, naïve, resolute and sophisticated. We implement a new and simple experimental design in which subjects are asked to take two sequential decisions (interspersed by a random move by Nature) concerning the allocation of a given sum of money. The resulting data enables us to classify the subjects. We find that the majority are resolute, a significant few are sophisticated, rather few are naïve and similarly few are myopic.     

Between research and revival. Emerging trends among highly religious young Catholics in Italy

Research shows that Italians’ religiosity is in constant decline. Religious literacy, individual and collective practice, participation in rituals, faith’s transmission and symbols’ sharing seem to be following a slow but inexorable downward trend. Catholic communities are being depopulated and churches are emptying out. These phenomena, already emerging in those generations born during the economic boom, seem to have a greater impact on younger generations: the decline of Catholicism as a socio-cultural phenomenon is characterising our era. Despite those general trends, young generations are not merely abandoning their faith. Even if faith has lost its social function, young Catholics in Italy often cultivate it on an individual level, between the autonomous search for their own spiritual path and the reproduction of forms of high religiosity derived from the family. In some cases, the younger generations show a renewed religiosity, stronger and more secure than that of their parents, which may sometimes involve them in a path of Catholicism’s rediscovery. The article presents and discusses results on highly religious young Catholics deriving from empirical research on intergenerational religious transmission in Italian families, which has been conducted through focus groups and in-depth interviews between 2020 and 2022.     

‘Moi aussi,alors, je serai grand-mère’. La construction de la parenté dans les familles homosexuelles

Using the gift as epistemological category, the article explores the social processes of kinship formation in homosexual families. Analysing the stories of lesbian families, the article tries to explain the reason why the mothers want to have kinship networks and kinship bonds. Through kinship connections, all the members are and want to be (or don't want to be) publicly recognised as reciprocal parents of the new-born.     

Measuring the Behavioural Component of the S&P 500 and its Relationship to Financial Stress and Aggregated Earnings Surprises

Scholars in management and economics have shown increasing interest in isolating the behavioural dimension of market evolution. Indeed, by improving forecast accuracy and precision, this exercise would certainly help firms to anticipate economic fluctuations, thus leading to more profitable business and investment strategies. Yet, how to extract the behavioural component from real market data remains an open question. By using monthly data on the returns of the constituents of the S&P 500 index, we propose a Bayesian methodology to measure the extent to which market data conform to what is predicted by prospect theory (the behavioural perspective), relative to the (standard) subjective expected utility theory baseline. We document a significant behavioural component that reaches its peaks during recession periods and is correlated to measures of financial volatility, market sentiment and financial stress with expected sign. Moreover, the behavioural component decreases around macroeconomic corporate earnings news, while it reacts positively to the number of surprising announcements.     

Strategic choices and strategic management accounting in large manufacturing firms

Journal of Management and Governance - This study examines the relationship between strategic choices and the use of strategic management accounting (SMA) techniques in large manufacturing...     

Modelling Corruption Perceptions: Evidence from Eastern Europe and Central Asian Countries

Social Indicators Research - This work proposes a multidimensional framework that is based on a latent class model to identify various types of corruption and to outline their importance. A dataset...     

Dropout of Hospital Volunteers in Italy

Voluntary work in Charities is a constantly growing reality: in particular, in the last few years, voluntary work in hospitals has become of great importance, marking a substantial increase of commitment in social issues. However, at the same time, volunteering Charities have been plagued by the increase of the phenomenon of dropout, that is, volunteers abandoning the Charitable Association they’re working in, often after a relatively short period of activity. In this study, we attempted to verify if and how active and dropped out volunteers perceive their own activity as a source of anxiety and stress. Our data show that both active and dropped out volunteers show high levels of burnout; in fact, dropped out volunteers show higher levels of burnout, especially of emotional exhaustion, in comparison with active volunteers. Subsequently, we identified the factors potentially assuming the role of mediators or moderators in the direct relation involving the status of voluntary work activity and the levels of anxiety and burnout. Our study demonstrates that coping strategies and the relationship established with hospital workers can be considered good moderators.     

A note on a universal random variate generator for integer-valued random variables

A universal generator for integer-valued square-integrable random variables is introduced. The generator relies on a rejection technique based on a generalization of the inversion formula for integer-valued random variables. This approach allows to create a dominating probability function, whose evaluation solely involves two integrals depending on the characteristic function of the random variable to be generated. The proposal gives rise to a simple algorithm which may be implemented in a few code lines and which may show good performance when the classical families of distributions—such as the Poisson and the Binomial—are considered. In addition, applications to the Poisson-Tweedie and the Luria-Delbrück distributions are provided.