Our publications aim to provide in-depth information on issues that are at the forefront of the European agenda, including commentary, research, and policy recommendations.
LEAP produces policy briefs, working papers, five bullets and a monthly newsletter. All publications are available online.
M. Messori: The groundbreaking novelties of the Franco-German proposal and the misuse of the abacus
The Franco-German initiative, agreed between French President Emmanuel Macron and German Chancellor Angela Merkel on May...
May 22, 2020
M. Messori: Are Italian banks part of the crisis or its solution this time?
The shock due to the coronavirus pandemic is likely to cause serious difficulties for the Italian banking sector, which ...
May 18, 2020
L. Bini Smaghi: The Judgment of the German Constitutional Court in incomprehensible
On 5 May 2020 the German Constitutional Court (GCC) ruled that the decision taken by the European Court of Justice (ECJ)...
May 15, 2020
G. L. Tosato: The Decision of the German Constitutional Court on the Public Sector Purchase Programme of the European Central Bank
On 5 May 2020, the German Constitutional Court (GCC) issued a long-awaited judgment in which it jointly addressed severa...
May 6, 2020
G. L. Tosato – The Recovery Fund: Legal Issues
In the video conference of April 23 the European Council (EC) agreed, with the consent of all Member States (MS), to est...
May 1, 2020
C. Bastasin, L. Bini Smaghi, M. Messori, S. Micossi, P. C. Padoan, F. Passacantando, G. Toniolo: Notes for the European Council Meeting
The reflections underlying the Italian position in the European negotiation seem to refer mainly to both financial and p...
April 22, 2020
G. L. Tosato – The Union’s budget balance pursuant to art. 310 TFEU: What is the impact on the European anti-coronavirus measures?
In a period in which European anti-coronavirus measures are being heatedly discussed, it is necessary to verify which co...
April 17, 2020
P. C. Padoan: Response to Covid-19: Mechanisms against unemployment
At the Eurogroup meeting of April 9 it was decided to introduce new tools to support the economy and/or to strengthen th...
April 16, 2020
R. Perissich: Logic, facts and common sense in the time of Covid-19
European countries have faced the Covid-19 pandemic unprepared and on the basis of scant scientific knowledge about the ...
April 15, 2020
F. Passacantando – Italexit, Debt Cancellation and ParallelMoneys: The fatal attraction for the Argentine solution
This paper aims to show the extraordinary complexity of an exit of Italy from the eurothrough a comparison with Argentin...
July 15, 2017
L. Andreozzi, R. Tamborini: Why Is Europe Engaged in an Interdependence War, and How Can It Be Stopped?
There is large evidence that European countries, the EMU in particular, are engaged in an interdependence war, i.e. non-...
April 24, 2017
P. Benigno: A Central Bank Theory of Price Level Determination
A theory in which the central bank controls the price level is put forward as an alternative to the fiscal theory of the...
April 19, 2017
R. De Santis, P. Esposito, E. Masi: Are There Common Structural Determinants of Potential Output Growth in Europe?
GDP growth in the Eurozone during the last twenty years continuously decreased. In addition, the global financial crisis...
March 25, 2017
S. Berardi, A. Marcelletti: Optimal Bank Capital Requirements: An Asymmetric Information Perspective
The issue on the amount of capital banks should hold has pushed back the debate on top of policymakers’ agenda. Litera...
March 1, 2017
F. Schivardi, E. Sette, G. Tabellini: Credit Misallocation During the European Financial Crisis
Do banks with low capital extend excessive credit to weak firms, and does this matter for aggregate efficiency? Using a ...
March 1, 2017
D. Focarelli: Why Insurance Regulation is Crucial for Long-term Investment and Economic Growth
This paper focuses on the role of insurers as providers of funds for long-term investment in the real economy, with an e...
January 15, 2017
A. Bassanetti, C. Cottarelli, A. Presbitero – Lost and Found: Market Access and Public Debt Dynamics
The empirical literature on sovereign debt crises identifies the level of public debt (measured as a share of GDP) as a ...
December 11, 2016
F. Landini: Distortions in Firm Selection During Recessions
Recent evidence documents the weakness of market selection based on productivity differentials and the absence of cleans...
October 15, 2016
LEAP sends out occasional newsletters containing fellowship opportunities, application calls, updates, and news.