Libera Università Internazionale degli Studi Sociali Guido Carli

About: Libera Università Internazionale degli Studi Sociali Guido Carli is a education organization based out in Rome, Lazio, Italy. It is known for research contribution in the topics: Politics & Monetary policy. The organization has 692 authors who have published 2493 publications receiving 36411 citations. The organization is also known as: Libera Universita Internazionale degli Studi Sociali Guido Carli & Libera Università Internazionale degli Studi Sociali "Guido Carli".

Time-Varying Spot and Futures Oil Price Dynamics

Abstract: We investigate the role of crude oil spot and futures prices in the process of price discovery by using a cost-of-carry model with an endogenous convenience yield and daily data over the period from January 1990 to December 2008. We provide evidence that futures markets play a more important role than spot markets in the case of contracts with shorter maturities, but the relative contribution of the two types of market turns out to be highly unstable, especially for the most deferred contracts. The implications of these results for hedging and forecasting crude oil spot prices are also discussed.

Which Democracy for a Union of States? A Comparative Perspective of the European Union

Abstract: The article investigates the democratic model of the European Union (EU) from a comparative perspective. A democratic model concerns the way in which systemic divisions, expression of structural cleavages, are institutionally and politically regulated in order to generate authoritative decisions applicable to all members (citizens and territorial units) of the political system. On the bases of a critique of the statist paradigm that influences comparative politics literature, the article has shown that unions of asymmetrical and differentiated states (as the United States, Switzerland and the supranational EU) function according to a democratic logic different from the ones characterizing the nation states. Unions of states function without both a government and a state because structured on multiple separation of powers that segment sovereignty horizontally and vertically. The segmentation of sovereignty constitutes a condition for preventing domination of the larger and powerful states on the smaller and weaker ones.

The future of the Euro still lies in its past

Abstract: The true problem for the future of the Euro is to get a wider statute for the European Central Bank (ECB) similar to those of other central banks, notably the Fed, to permit better monetary policy. This means the power to act as a lender of last resort or “whatever it takes” (Draghi 2012). People consider this possibility tied to the political will of the main member states (Germany and the Netherlands, partly France). However, two other problems would remain unresolved if the Euro is to have full legitimacy as a paper money: a state behind it and a common Eurozone fiscal policy. This means a move to a political union, which is less possible than the approval of a new ECB statute. The existence of these problems does not mean that the Euro cannot survive, but that it depends on the will of both the market and the owner of official reserve denominated in Euro. It also depends on acceptance by member countries affected by the negative effects of not having a true and free lender of last resort and a targeted policy to resolve the weakness of the non-optimal currency area of the Eurosystem which preexisted the birth of the Euro. This is why the future of the Euro still lies in its past, not having found a consensus on what to do or leaders capable of filling the gap. Collapse is always possible.

“Heaven or Las Vegas”: Competing institutional logics and individual experience

Abstract: Significant research has been dedicated to the study of the dual constitutive core at the field and organizational levels but less attention has been paid to the micro‐dimensions of the collision of competing logics, namely in terms of how individuals experience and navigate through them and how that influences organizational ethos and strategy. We study how one individual, founder of the organization behind the independent music label 4AD, made sense and lived through the fundamental clash of two logics: ‘music as art’ and ‘music as business’. We analyse how the personal struggles of the founder allowed the construction and maintenance of a strong, solid and continued organizational identity for 4AD. We uncover four factors accounting for the protection of 4AD's sustained artistic integrity in face of a transforming industry.