Publications

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.

The center produces policy briefs, working papers, five bullets and a monthly newsletter. All publications are available online.

Policy Briefs

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

Working Papers

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

Monthly Briefs

Five Bullets

Europe: Facts & Docs

This section contains policy documents, meeting summaries and news that come directly from the EU institutions.

Europe needs to think bigger to build its capital markets union – Fabio Panetta, member of the ECB’s Executive Board – August 30, 2023

Read the blog...

August 31, 2023

Policymaking in an age of shifts and breaks – Speech by Christine Lagarde, President of the ECB – August 25, 2023

Read the transcript...

August 28, 2023

ECB Press Conference – July 27, 2023

Get all the info...

July 27, 2023

Strengthening resilience in a changing geopolitical landscape – Welcome address by Christine Lagarde, President of the ECB, at the 9th ECB conference on central, eastern and south-eastern European countries – July 17, 2023

Read the transcript...

July 17, 2023

Interview with Christine Lagarde, President of the ECB – July 7, 2023

Read the transcript...

July 10, 2023

2023 Strategic Foresight Report: sustainability and wellbeing at the heart of Europe’s Open Strategic Autonomy – July 6, 2023

Read the press release...

July 10, 2023

Single Currency Package: new proposals to support the use of cash and to propose a framework for a digital euro – June 28, 2023

Read the press release...

July 5, 2023

Breaking the persistence of inflation – Speech by Christine Lagarde, President of the ECB, at the ECB Forum on Central Banking 2023 on “Macroeconomic stabilisation in a volatile inflation environment” in Sintra, Portugal – June 27, 2023

Read the transcript ECB Forum on Central Banking 2023...

June 28, 2023

EU budget: Commission proposes to reinforce long-term EU budget to face most urgent challenges – June 20, 2023

Read the press release...

June 26, 2023

Newsletter

The center sends out monthly newsletters containing fellowship opportunities, application calls, updates, and news.

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