New Economic and Business Models

Rome, 2 February 2017

The third Round Table in the Power from Statistics project dealt with new economic and business models. It took place on 2 February 2017 in Rome (Italy). Experts from Europe and the United States and high‑level representatives of various services of the European Commission discussed unmet needs for data to inform policies, major trends in innovative business models and new information needs arising from these trends.

Outcome

The experts underlined the challenge in striking an appropriate balance between the need for comparability over time and the capacity to represent a changing reality. The experts also spoke about the development of new business models for collaborating with third-party data custodians (platforms) and identifying mutual benefits allowing the access to anonymised data. Another topic was digital services.

For labour markets, the experts discussed issues such as increased automation leading to new information requirements, the growing difficulty in identifying the different categories of employment (and self-employment) and the resulting crucial role of appropriate classifications for collecting and analysing the data. Furthermore, they discussed the aim of statistics on labour: what to measure (productivity, use of time, employment…), how to measure, and how official statistics can detect emerging phenomena and information needs, like the measurement of the level of cohesion of a society.

Concerning innovation, the experts agreed on the importance of capturing the characteristics of innovation, appropriately illustrating the skills gap (which might require new ways of measuring existing skills and the skills requested by innovative companies), and the need to go beyond the surveys of today.

The experts also found a need for identifying and integrating different data sources for reducing data gaps and inconsistencies concerning financing and investment. They also discussed the challenge of getting the price right for new digital services, with additional information requirements emerging to allow for the appropriate disentanglement of differences in price and quality.

The experts will write articles on the most promising of the topics discussed at the Round Table in an Outlook Report. This report will be discussed at the high-level conference “Power from Statistics; Data, Information and knowledge” on the future of official statistics, which will take place in Brussels on 18 and 19 October 2017.

Participants

Emanuele Baldacci is a Deputy CEO of ETLA’s (The Research Institute of the Finnish Economy) subsidiary Etlatieto Ltd. Recently, his research has focused on global value chains and particularly on value creation. He has also analysed the impacts of innovation policy and also the role of the largest companies in national economy. During his career, he has led several research projects for to the Prime Minister’s Office of Finland. In addition to academic series, the results of his studies have been reported in numerous leading magazines and newspapers such as in Wall Street Journal, New York Times, Die Welt and L’Express.

Emanuele Baldacci

Swati Dhingra is Assistant professor of economics at the London School of Economics, researching globalisation and industrial policy. She isco-author of the recent “Life after Brexit”reportby LSE’s centre for economic performance, which looked at the UK’soptions outside the EU. She is also associate editor of the Journal ofInternational Economics, and was awarded the FIW Young Economist Awardand the Chair Jacquemin Award by the European Trade Study Group for herwork on firms and globalization. Swati's work has informed bodies suchas the Parliamentary International Trade Committee, CBI, Treasury, Social Enterprise UK, Credit Suisse and SunderlandCity Council, and has featured in media such as BBC, ForeignAffairs, Financial Times, The Economist, The Times and Business Standard.

Swati Dhingra

Ivan Faiella is currently Senior Economist at the Bank of Italy. From 1996 to 1998 he worked for ENI as energy analyst. In 1998, he joined the Directorate General for Economics, Statistics and Research of the Bank of Italy where he worked first as a Survey Statistician and then as an Energy Economist. His research has a marked quantitative background and focuses mainly on environmental and energy issues, sample surveys and the distribution of households’ income and wealth. Since 2003 he is member of the G20Energy Sustainability Working Group. His publications are available at www.researchgate.net/profile/Ivan_Faiella.

Ivan Faiella

Martin Karlberg is team leader for Research and Innovation in Official Statistics at Eurostat. Before joining the European Commission in 2003, he worked at Statistics Sweden, AstraZeneca, and at Stockholm University (from where he was awarded his PhD in statistics in 1997).

Martin Karlberg

Teemu Kautonen is Associate Professor of Entrepreneurship at the Aalto University School of Business in Helsinki, Finland. He has worked in the academia since 2001 and held various positions in Finland, Germany and the UK. His research has a strong quantitative orientation and at the moment focuses on topics such as SME finance and trust, translating entrepreneurial intentions into actions, venture failure, and entrepreneurship and population ageing. Teemu has published more than 40 articles in peer-reviewed journals. He has also served as a policy consultant for the German and Finnish governments as well as the European Commission and the OECD.

Teemu Kautonen

Neil Kay is an administrator at the European Commission in unit GROW/E3 – Digitalisation of the Single Market. He has a PhD in computer science and an MSc in economics. Following research in computer science, he worked in the financial software industry as an IT consultant. For the last sixteen years, he has worked at the Commission as an IT project manager and economist. Most recently, he led the economic analysis for the Commission's communication on a European Agenda for the collaborative economy.

Neil Kay

Mario Mariniello is Digital Adviser to the European Political Strategy Centre (EPSC), European Commission. He joined the EPSC from Bruegel where he was Research Fellow coordinating the area of research in Competition Policy and Regulation. Mario has published extensively on issues related to competition policy and ICT regulation. His columns and policy works have been published or quoted in leading international media, such as Financial Times, Wall Street Journal, New York Times, La Tribune, Der Spiegel. From 2007 to 2012, Mario was a member of the Chief Economist Team at DG-Competition, European Commission. During that time, he developed the economic analysis of a number of topical antitrust and merger cases. Mario holds a Ph.D. in Industrial Organization from the European University Institute of Fiesole (Florence) and a M.Sc. in Economics from CORIPE (Turin). He taught  European Economic Integration for Master students at the Université Libre de Bruxelles (ULB) and he is now teaching a course in Digital Economics at the College of Europe, Natolin.

Mario Mariniello

Stefano Menghinello is Director of Business Statistics at the Italian National Institute for Statistics since April 2016. He holds a PhD in industrial economics from the University of Birmingham (UK) and a degree in Economics and Quantitative Methods from Bocconi University in Milan. Over the last 20 years he has been engaged in Globalisation related topics, from both an official statistic and analytical perspective. On this topic, he has actively participated to international projects as a member of leading Groups of Experts at Eurostat, OECD and UN, publishing on national and international journals and designing innovative surveys on multinational enterprises, international sourcing and complex economic units in Italy.

Stefano Menghinello

Angelo Meuleman is project director shared mobility for Taxistop since 2007. He has a  lot of experience on operating ride-sharing en car-sharing in cooperation with public transport. Angelo is also involved in different EU-programs on shared mobility, in which he also raises political awareness on shared mobility. Angelo Meuleman also offers consultancy for local authorities on how to implement shared-mobility action plans. Besides his job, he's involved as Mobility Connector for the in the international community of OuiShare, an international platform for the collaborative economy. Angelo often gives presentations and lectures on shared mobility, more particular on the relation with autonomous transport, social issues (equity) and economic transition.

Angelo Meuleman

Riley Newman built the Data Science organization at Airbnb. Joining the company as its first data scientist, and one of the first ten employees, he helped build the startup and his data science team from the ground up. At the time of his departure, 6 years later, the startup had become a global organization and his team comprised over 100 data scientists, analysts, and engineers. Prior to Airbnb he worked as a researcher with Beacon Economics and served in the US Coast Guard. He holds degrees in Economics and International Relations from the University of Washington and a master’s in Economics from Cambridge University.

Riley Newman

Carsten Olsson has a background in the intersection between software and statistics (MSc) and a PhD in statistics. After some years in the private sector, he joined the European Commission in 1993. He took up his first post with Eurostat in the field of consumer prices in 1997. Subsequently, he has been involved in statistics on unemployment, government finances, and macro-economic indicators. Currently, he is Head of Unit for R&D, Innovation, and Information Society statistics.

Carsten Olsson

Debora Revoltella is the director of the Economics Department of the European Investment Bank, and has held this position since April 2011. The department provides impact-driven economic analysis to support operations, the global positioning as well as the policy and strategy definition of the bank. Debora holds a degree in economics and a masters in economics from Bocconi University as well as a PhD in economics from the University of Ancona in Italy. After the experience as an adjunct professor in macroeconomics at Bocconi University, Debora joined the research department of Banca Commerciale Italiana, a leading Italian Bank. In 2001, she joined UniCredit as the chief economist for Central and Eastern Europe. During these years, the department developed into a leading research centre for the region. Debora is a member of the Steering Committee of the Vienna Initiative, an alternate member of the Board of the Joint Vienna Institute and a member of the Boards of the SUERF and the Euro50 Group.

Debora Revoltella

Werner Roeger is head of the unit "Models and Databases" at the Directorate General forEconomics and Finance at the European Commission in Brussels. He received his PhD fromthe University of Freiburg (Germany) and worked at the Institute for Applied EconomicResearch at the University of Tübingen before joining the European Commission in 1988. In2001 he was a visiting professor at Humboldt University in Berlin. In his work within the Commission he is responsible for developing and maintaining theinternational macroeconomic model QUEST III, which is used by DG ECFIN for impactassessments of structural and fiscal policies and for shocks hitting the Euro Area and itsmember states. Another area of activity is the regular calculation of medium term projections, potential growth and output gaps for EU member states and the development of themethodology in the context of the Output Gap Working Group of the Economic PolicyCommittee. His research interests focus on quantitative analysis of fiscal and structuralpolicies as well as the analysis of external and internal imbalances.

Werner Roeger

Vincenzo Spiezia (PhD in Economics) is the Head of the Information and Communication Technologies Unit in the Directorate for Science, Technology and Innovation of the OCDE. He coordinates the activities of the Working Party on Measurement and Analysis of the Digital Economy (MADE). His current research activities focus on the impact of ICT on employment, skills and innovation. Before joining the OECD, he was Senior Economist at the International Labour Office in Geneva, where he contributed to a series of studies on the economic effects of globalisation. He is author of several publications in books and international journals about innovation and employment.

Vincenzo Spiezia

Loukas Stemitsiotis is Head of the Thematic Analysis Unit of the DG EMPL of the European Commission. From 2012 to 2016, he was Head of Unit of the Secretariat of the Economic and Financial Committee and the Economic Policy Committee of the EU, which prepare the ECOFIN Council. From 2010 to 2011, he was Head of the Unit responsible for Globalisation, Trade and Development at the Directorate General for Economic and Financial Affairs of the European Commission. From 2008 to 2010, he was Head of the Unit responsible for the Economies of the EU neighbouring countries, including Macro-financial Assistance. Since joining the European Commission in 1990, Stemitsiotis worked in the Macroeconomics and Fiscal policies Department, in the Monetary matters Department, mainly dealing with the preparation of the euro, the European Monetary Union and international monetary relations, in the International economic matters Department, and in the Secretariat of the Economic and Financial Committee. Before joining the Commission, Stemitsiotis worked with Money Market Services International, London; after having worked as economist at the Centre d’EtudesProspectives et d’Informations Internationales, Paris, France. Loukas Stemitsiotis holds a Ph.D. in Economics from the University of Paris-I-Sorbonne, France, 1990, with a published thesis on exchange rates and the international monetary system.

Loukas Stemitsiotis

John Verrinder has responsibility in Eurostat for national accounts methodology and key indicators. He has worked in the European Commission since 2000 in statistical areas such as national accounts and government finance statistics in Eurostat, as well as in the design of financial instruments in DG ECFIN. Before joining the Commission, he worked in the UK Treasury, predominantly on expenditure and fiscal policy matters.

John Verrinder

Christoph Weiss is an economist in the Economics Department of the European Investment Bank. Previously he was a research fellow at the Department of Economics of the University of Padova. He received a PhD in economics from the European University Institute. His research interests include labour economics, firm dynamics and applied microeconometrics.

Christoph Weiss

Albrecht Wirthmann holds a degree in physical geography, specialised in Geographic Information Systems and Remote Sensing. Satellite images always have pushed storage systems to the edge. Nowadays, they are included in Big Data.In 1992, he joined the newly created unit on economic and environmental accounting in the federal statistical office of Germany (DESTATIS). Since 1999, he has been working at Eurostat, where he contributed to preparing the INSPIRE directive that established a digital infrastructure for geographic information in the European Union. From 2007 onwards, he was responsible for further developing information society statistics. In Sep 2013, he was involved in drafting the Scheveningen Memorandum that marked the start of big data activities at the ESS level. Consequently, he joined the newly created task force "Big Data" at Eurostat where he worked on the Big Data action plan and roadmap. Now he is concentrating on the implementation of the Big Data Action Plan and Roadmap at the level of the European Statistical System and the European Commission.

Albrecht Wirthmann

Elisabetta Carfagna is full professor of statistics at the University of Bologna. She started her academic career after having reached a managerial position in the R&D department of a leading Italian company. She has lead and participated in international research and capacity development projects, in collaboration with several international organizations and national institutions, among which FAO, Eurostat, JRC, US and Italian Governments and Gates Foundation. She was asked to design and start up the implementation of the Global Strategy to Improve Agricultural and Rural Statistics.

Elisabetta Carfagna

Aminda Leigh is a British journalist with more than 25 years’ experience, half of which working for various BBC radio and TV channels. She moved to Italy in 2001, from where she now runs her own business offering journalism, moderation, production and translation services for a wide variety of European and international clients. She specialises in environmental issues, EU affairs, culture and the audiovisual industry. Aminda has made award-winning web-documentaries and videos for the European Commission, among other clients. She has moderated entire conferences as well as individual sessions and workshops at major events - for example, EU Green Week, the European Business Summit and EXPO in Milan - covering subjects such as the circular economy, green growth, climate change and environmental issues. Aminda has an Honours Degree in Philosophy and a Post-Graduate Diploma in Radio and TV Journalism.

Aminda Leigh