A. Boitani, R. Tamborini: Reforming the European fiscal governance. Beyond new rules

As of March 2020, at the outbreak of the Covid-19 pandemic, the fiscal rules of the European Economic and Monetary Union...

January 25, 2022

C. Bastasin: Why a pro-European President of the Italian Republic is vital for the country’s economy

The role of Italy’s President, differently from the premiership, does not wield executive powers. Nevertheless, its fu...

January 25, 2022

C. Bastasin, L. Bini Smaghi, V. Meliciani, M. Messori, S. Micossi, P. C. Padoan, G. Toniolo – Legge di Bilancio: troppa spesa corrente se l’inflazione spinge i tassi d’interesse

Questo policy brief analizza criticamente lo stato attuale della politica di bilancio italiana e le prospettive di infla...

December 29, 2021

C. Bastasin – The lack of political integration in European governance: The case in the conflict between security in Europe and democracy in Poland

Strengthening political integration is tacitly coming of age in Europe after the pandemic crisis led the European Union ...

November 30, 2021

S. Micossi – On the selling of sovereigns held by the ESCB to the ESM: A revised proposal

This paper presents an in-depth review of the proposal by Micossi (2020) and Avgouleas and Micossi (2021) to transfer a ...

November 15, 2021

G. L. Tosato: Legal considerations on the Avgouleas-Micossi proposal

Recently, Micossi (2020) and Avgouleas and Micossi (2021) proposed to transfer the sovereign bonds purchased by the ESCB...

September 8, 2021

G. Colazzo: The debate on how to the EMU’s economic governance framework

On 5 February 2020, the European Commission published a “Communication”1 on Economic Governance Review, opening a pu...

September 1, 2021

V. Meliciani, M. Pini – Digitalization and productivity in Italy: Opportunities and risks of the NRRP

Next Generation EU is an important opportunity for Italy to relaunch its growth and productivity in discontinuity with t...

July 28, 2021

L. Bini Smaghi – The new ECB Strategy: What will change?

On 8 July 2021 the ECB published its new Monetary Policy Strategy. Following the announcement, it is legitimate to ask w...

July 26, 2021

F. Bontadini, R. Evangelista, V. Meliciani, M. Savona – Asymmetries in global value chain integration, technology and employment structures in Europe: Country and sectoral evidence

This paper provides empirical evidence on the complex role played by technology in affecting the relationship between th...

November 8, 2021

P. Esposito, V. Larocca, M. Messori, M. Mischitelli – Bank-based or Market-based financial sources: Which is better for the EU?

This paper examines the relationships between the financial structure and the economicperformance of non-financial corpo...

November 8, 2021

P. Benigno, P. Canofari, G. Di Bartolomeo, M. Messori: Financial Dominance in the Pandemic and Post-Pandemic European Economy

Differently from past episodes, the European institutions responded to the pandemic shock with an appropriate policy mix...

October 4, 2021

P. Nicolaides – The Dispute-Settlement Provisions of the EU-UK Trade and Cooperation Agreement: Are they Adequate for the Task?

The Trade and Cooperation Agreement between the European Union and the United Kingdom has established new institutions a...

September 23, 2021

A. Erce, E. Mallucci, M. Picarelli: A Journey in the History of Sovereign Defaults on Domestic Law Public Debt

We introduce a novel database on sovereign defaults that involve public debt in- struments governed by domestic law. By ...

September 22, 2021

P. Della Posta, R. Tamborini: The existential trilemma of the EMU in a fiscal target-zone model

The lesson we draw from the EMU crisis of the 2010s, and from the outbreak of the COVID-19 pandemic, is that the EMU, wh...

September 8, 2021

F. Bontadini, R. Evangelista, V. Meliciani, M. Savona: Patterns of integration in global value chains and the changing structure of employment in Europe

This paper aims at revisiting the empirical evidence on the recent trends of countries’ integration in global value ch...

September 1, 2021

J. Bonchi – Asset Price Bubbles and Monetary Policy: Revisiting the Nexus at the Zero Lower Bound

Asset price bubbles are a major source of macroeconomic instability, but can they play a different role in a low interes...

June 18, 2021

T. Asonuma, M. Chamon, A. Erce, A. Sasahara – Costs of Sovereign Defaults: Restructuring Strategies and Financial Intermediation

Sovereign debt restructurings are associated with declines in the growth of GDP, invest- ment, bank credit to the privat...

May 31, 2021