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

S. Micossi: Raising growth in the euro area

The economic policy debate in Europe – or rather in the euro area – seems deadlocked. We would like higher growth of...

April 15, 2020

S. Berardia, A. Marcelletti – Family Business: Control and concentration in euro-area companies

Corporate governance architecture is central to the dynamics by which successful firms and economies improve their perfo...

December 15, 2017

M. Fragetta, M. Tamoborini: It’s not austerity. Or is it?

While the debate over the relationship between austerity and growth in Europe has been lively and intense, systematic an...

October 21, 2017

G. Brunello, E. Lodigiani, L. Rocco: Does Low Skilled Immigration Cause Human Capital Polarization?

While there is a vast literature considering the labor market effects of immigration, less has been done to investigate ...

September 21, 2017

P. Canofari, G. Di Bartolomeo, M. Messori – EMU Stability: Direct and Indirect Risk Sharing

Our paper aims to analyze the effectiveness of different risk-sharing mechanisms in providing stability to a monetary un...

August 21, 2017

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