Template-type: ReDIF-Article 1.0 Author-Name: Fabrizio Balassone Author-Name: Sandro Momigliano Author-Name: Marzia Romanelli Author-Name: Pietro Tommasino Title: Just Round the Corner? Pros, Cons, and Implementation Issues of a Fiscal Union for the Euro Area Abstract: The experience of a number of successful monetary unions and economic theory suggest that the euro area would benefit from the establishment of a supranational fiscal capacity, provided its design keeps the risk of moral hazard at bay. Institutional reforms prompted by the crisis (e.g., the European Stability Mechanism and the banking union) are introducing - though to a limited extent - elements of crosscountry risk sharing. Nevertheless, among European institutions there is a broad consensus that further steps are needed. Proposals to create a sort of rainy-day fund present major practical difficulties - associated, inter alia, with the uncertainty characterising the identification of shocks in real time. A more appropriate solution, consistent with how risk sharing operates in existing federations, may be to centralize specific public functions. One often-discussed possibility is the introduction of a common unemployment benefit scheme. We argue that consideration could also be given to the creation of a euro-wide, notional defined-contribution pension scheme. Classification-JEL: E42, E62, F15, F42, H77 Keywords: Note: Pages:5-34 Volume: 2018/1 Year: 2018 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=62585&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:epepep:v:html10.3280/EP2018-001001 Number: 1 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=62585 Template-type: ReDIF-Article 1.0 Author-Name: Alberto Pench Title: Intra Generational Solidarity and Long Term Care: A Role for In Kind Transfers Abstract: This paper is focused on kind transfers targeted at old people in need of long term care: it is assumed that they live with their children who provide them health care: the amount of health care is determined by free public provision, by additional professional care bought in the market or by informal care directly given by the children in terms of leisure. Then it deals with the implementation of a policy consisting of an increase in free professional care compensated by an equal reduction in pensions: the particular financing scheme can be motivated by a sort of intra generational solidarity. The proposed policy has the additional goal to promote a substitution of professional care for informal care in order to increase overall labour supply. Conditions assuring a positive change in public budget and in social welfare are derived: they depend by the mutual interaction of a number of economic, medical and demographic parameters: among others, household net wage rate, the ratio between income and indirect tax rates and the structure of older population. Classification-JEL: H51, H53, I38, J22 Keywords: Note: Pages:35-57 Volume: 2018/1 Year: 2018 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=62586&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:epepep:v:html10.3280/EP2018-001002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=62586 Template-type: ReDIF-Article 1.0 Author-Name: Guido Tatone Title: La reputazione negli appalti pubblici: uno strumento socialmente desiderabile per risolvere il problema dello scadimento qualitativo Abstract: In this assignment we analyse the problem of quality cut in public procurement when the quality is not verifiable. Our paper contributes to the large literature studying the enforcement of unverifiable quality in procurement, first, analysed by Kim (1998), then continued by Doni (2006) and Albano et al. (2017a). We identify reputational mechanism as a good tool to solve the problem of quality. As Tatone did (2016), we assume that the Public Administration uses a specific reputational mechanism: a weighted reputation auction. It is an award rule that penalizes companies that have behaved opportunistically in the past, and rewards companies that have respected contractual commitments. We show that this discriminatory competitive mechanism can lead contractors to deliver the required level of quality. Furthermore, we obtain that weighted reputation auction is a socially desirable mechanism. However, due to restrictive conditions on the utility function the PA cannot commit itself to adopting this kind of mechanism. Classification-JEL: D82, H57, L14 Keywords: Note: Pages:59-85 Volume: 2018/1 Year: 2018 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=62587&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:epepep:v:html10.3280/EP2018-001003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=62587 Template-type: ReDIF-Article 1.0 Author-Name: Roberto Fazioli Author-Name: Donato Lenza Title: Incentivi all?efficienza energetica nelle gare per la distribuzione gas e gli effetti sulla finanza pubblica locale: analisi e prospettive Abstract: The goal of "Certificati Bianchi" (i.e. energy efficiency certificates - TEE) is to stimulate the investment to enhance efficiency in energy consumption in Italy. In this paper, we provide a thorough description and constructive criticism of the system. More in details, we carefully characterize (i) the annual obligations pertaining to the natural gas distribution companies for the acquisition of TEEs, (ii) the procedure to accomplish them and (iii) the role of the institutional players (such as, for example, the Ministero dello Sviluppo Economico and the ARERA) in the process. Then, we address the theme of the additional TEEs that a company bidding in competitive public tenders for natural gas distribution services can offer to Municipalities in "Minimum Territorial Area" (ATEM) and, in particular, we stress the implications of such offer for the financial plan of the bidder. Finally, we discuss some issues with the design of the system, and a possible way forward to address them. Classification-JEL: G28, H23, K23, L51, L95 Keywords: Note: Pages:87-122 Volume: 2018/1 Year: 2018 Issue:1 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=62588&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:epepep:v:html10.3280/EP2018-001004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=62588