The Institute of Economics carries out research and training activities in the field of empirical and theoretical economics with a special focus on the economics of innovation and technical change.
The main lines of research include:
- The economics of innovation studying how innovations are generated and their impact at the micro, meso and macro levels
- The empirics and theory of industrial dynamics, with emphasis on the relation between firm financial profiles and industrial performance
- Micro and macro agent-based models, with particular attention to the patterns of economic change driven by the introduction and diffusion of new technologies
- Empirical network analysis of micro and macroeconomic networks, especially finance, trade, foreign direct investment, migration and mobility
- The connection between intellectual property rights and inventive and creative activities
Other research areas include:
- Individual, organizational and collective decisions beyond the rational choice paradigm
- Evolutionary foundations of macro-economics
- Evolutionary finance
- Economic history with a special focus on long run growth and major economic discontinuities
- Industrial and technological policies in industrialized and developing countries
- Applied statistics and econometrics
- Political, social and economic consequences of climate change
Our Institute welcomes and favours dialogue between empirical investigations, theoretical developments and normative contributions - concerning both corporate management and public policies - offering an interdisciplinary environment in which different research interests and competencies, ranging from Economics and Economic History, to Statistics, Physics, Information Sciences and Management meet and can be fruitfully integrated.
Despite its small size, the Institute has achieved important results in terms of research output, which place it in second place in the ranking of Economics Departments of Italian universities according to the latest report published by the Italian Agency for Research Evaluation (ANVUR), and in the top 5% among European economic institutions (cf. The RePEc rankings).
Our researchers are active and broadly connected members of international research and policy networks, through participation in various national and international projects as well as policy initiatives.
In 2018 the Institute was also awarded the prestigious grant of “Department of Excellence” in the area of Economics by the Italian Ministry of University and Scientific Research. The overarching goal of this department – EmbeDS Economics and Management in the era of Data Science – is to bring Economics and Management in the era of Data Science, leveraging data and tools to bridge the gaps that still exist between complex models, their empirical validation, and their use in policy.
Historically, most of the research activities have been undertaken within the LEM - Laboratory of Economics and Management. Now all research and training activities have been taken over by the Institute, but LEM still keeps its brand name on a prestigious Working Paper Series.
After the initial lockdowns of the Spring 2020, the large-scale adoption of contact-tracing apps was endorsed in many countries as a means to facilitate the tracking of transmission chains and the early detection of outbreaks, and thus to minimize the resurgence of Covid-19 contagions. However, centralized approaches, where data captured by the app are all sent to a nation-wide server, raised important concerns about citizens’ privacy and needlessly strong digital surveillance, alerting researchers and policy makers to the importance of limiting personal data collection and avoiding location tracking
A team involving researchers from the Sant'Anna School, Rff-Cmcc European Institute on Economics (Milan), Bocconi University, Polytechnic University of Milan has been awarded a research grant to support central banks and governments’ coordination in managing climate risks. The development of new models to assess climate-related risks for the financial system and to define the role of central banks in their management is the core pillar of a novel project funded by the (Inspire)
In the last 50 years, the economic impact of extreme events has grown considerably, driven by substantial increases in the damage caused by each of these disasters; it can be estimated that in any given year a single catastrophic event costs about 26 million dollars more than in the previous year. This is, in a nutshell, what emerges from a study conducted by a group of researchers belonging to the Sant’Anna School in collaboration with researchers at the Pennsylvania State University
Market Selection and the Absence of Arbitrage
Sabine Elmiger - University of Zurich
The Institute of Economics will hold a webinar meeting as part of its Seminar Series on Tuesday, March 9, 2021: Sabine Elmiger from the Univerisity of Zurich will present the paper "Market Selection and the Absence of Arbitrage".