S. Micossi: La riforma del Patto di stabilità e crescita

Queste brevi note offrono qualche spunto che spero utile sulla discussione in corso sulla revisione del Patto di stabili...

June 16, 2021

C. Bastasin, L. Bini Smaghi, S. De Nardis, C. De Vincenti, V. Meliciani, M. Messori, S. Micossi, P. C. Padoan, G. Toniolo: Three conditions for the Italian reforms’ success

The Italian government’s programs for changing the inertia of the country’s economy are well founded. After thir...

June 14, 2021

C. Bastasin: A rearview mirror mentality wrapped in a small-country syndrome

A year ago, the European Union reached its Hamiltonian moment. The sense of human solidarity in the face of death and th...

May 31, 2021

F. Passacantando: Could a digital currency strengthen the euro?

The introduction of a digital euro could transform not only the way European citizens will make pay- ments in the future...

May 5, 2021

V. Termini – The risk of inflation cannot be our priority: The effect’s of Biden’s economic policy

Today we are going through a deep economic crisis, different from the ones that we were accustomed to. It was brought on...

April 22, 2021

G. L. Tosato – Common debt: NextGeneration is not the first case

The feared judges in Karlsruhe will soon have to rule on the constitutionality in Germany of the planned issue of Eurobo...

April 11, 2021

C. Bastasin – The Draghi Government: The Europe factor in investor choices

The start of the Draghi government is surrounded by a high level of uncertainty. The climate in which the economic polic...

March 29, 2021

E. Avgouleas, S. Micossi – On selling sovereigns held by the ECB to the ESM: Institutional and economic policy implications

This paper follows up on a CEPS Policy Insight of October 2020, in which Stefano Micossi argued that the increase in sov...

March 22, 2021

P. Nicolaides: Unprecedented State Intervention

EU Member States have granted very large amounts of state aid to counteract the impact of the covid- 19 pandemic and the...

March 3, 2021

A. Franconi – Opening the Black Box of Austerity: Evidence from Fiscal Consolidation Plans

This paper explores the effects of austerity measures on labour markets and on income inequality and finds evidence of a...

January 20, 2021

C. Battiati, C. Jona-Lasinio, E. Marvasi, S. Sopranzetti – Market power and productivity trends in the European economies: A macroeconomic perspective

Recent empirical investigations have documented an upward trend in profit rates, markups, and concentration over the las...

January 18, 2021

J. Bonchi, F. S. Lucidi – Asset Price Bubbles with Low Interest Rates: Not All Bubbles are Likely to Emerge

Leveraged asset price bubbles, i.e., boom-bust phases in asset prices accompanied by credit overhangs, are more harmful ...

December 5, 2020

L. Codogno, P. van den Noord: Assessing Next Generation EU

The unprecedented fiscal package adopted by the European Council in the summer of 2020 ―dubbed Next Generation EU―is...

November 30, 2020

P. Benigno, P. Canofari, G. Di Bartolomeo, M.Messori: Uncertainty and the Pandemic Shocks

The COVID-19 pandemic shocks are a significant source of uncertainty in several aspects. In particular, these shocks inf...

November 11, 2020

G. Ascari, J. Bonchi: (Dis)Solving the Zero Lower Bound Equilibrium through Income Policy

We investigate the possibility to reflate an economy experiencing a long-lasting zero lower bound episode with subdued o...

October 23, 2020

C. De Vincenti, S. Facciolini: Mercati postali, servizio universale, regolazione

Quali sono le caratteristiche strutturali del mercato dei servizi postali rilevanti per la definizione del quadro normat...

October 12, 2020

P. Benigno, P. Canofari, G. Di Bartolomeo, M. Messori: Theory, Evidence, and Risks of the ECB’s Asset Purchase Programme

In response to the COVID-19 crisis, the ECB has relaunched a massive asset purchase programme within its combined-arms m...

October 2, 2020

L. Codogno, P. van den Noord: Going fiscal? A stylised model with fiscal capacity and a Eurobond in the Eurozone

The paper shows that the introduction a Eurobond together with fiscal capacity at the centre would produce macro-stabili...

April 9, 2020