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

C. Bastasin: A permanent Recovery Fund requires a European Government

On July 21, 2020, the European Council agreed on the Next Generation – EU (NG-EU). The new exceptional temporary r...

September 25, 2020

M. Buti, M. Messori – Next Generation-EU: Italy must not miss this opportunity

As is widely recognized, the agreement reached at the 17-21 July 2020 European Council meeting can represent a milestone...

August 21, 2020

G. Toniolo – Next Generation EU: Una condizionalità virtuosa

Trovato, piuttosto rapidamente, l’accordo sulla Dimensione complessiva del fondo Next Generation EU (NGEU), confermand...

July 28, 2020

C. Bastasin, L. Bini Smaghi, C. De Vincenti, M. Messori, S. Micossi, P. C. Padoan, G. Toniolo: The main hurdles to overcome in order to save Italy

The pandemic struck an Italy weakened by a quarter of a century of economic and social decline and trapped in a vicious ...

July 23, 2020

M. Buti, M. Messori: Next Generation EU: An interpretative guide

The proposal, which the European Commission made public on May 27, 2020, strengthens and articulates the framework launc...

June 15, 2020

C. Bastasin – Recovery Instrument: An epochal change in political economy

The Recovery Instrument (RI) represents a change in the philosophy of political economy because it breaks the link betwe...

June 15, 2020

M. Messori – The “Next Generation-EU” breakthrough: Opportunities and risks for Italy

A recently published Policy Brief (see Buti and Messori 2020) examines the quantitative and qualitative aspects that cha...

June 15, 2020

R. Perissich – The EU budget: a Hamilton moment?

On May 27, 2020, while outlining its new proposals for the next Multiannual Financial Framework (MFF) that will determin...

June 1, 2020

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

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Working Papers

M. Messori: The flexibility game is not worth the new ESM

The reform of the Treaty Establishing the European Stability Mechanism (ESM) broadens the functions of this mechanism so...

October 25, 2019

P. Canofari, G. Di Bartolomeo, M. Messori: Sovereign debt crisis, fiscal consolidation, and active central bankers in a monetary union

In this paper we examine global financial instability and its impact on the sovereign debts of peripheral countries in a...

October 2, 2019

M. Messori: The inevitable evolution of European financial markets

In the decades preceding the 2007-2009 international financial crisis and the related ‘doom loop’ between the Europe...

September 20, 2019

C. Battiati, C. Jona-Lasinio, S. Sopranzetti: Productivity growth and global value chain participation in the digital age

This paper provides a comprehensive overview of the current productivity trends and their potential drivers in the Euro ...

September 2, 2019

C. Bastasin, M. Mischitelli, G. Toniolo: Living with high public debt, Italy 1861-2018

Since 1861, Italy’s public debt has been both high and sustainable. The paper reviews the history of the Italian debt,...

June 17, 2019

P. Canofari, A. Marcelletti, M. Messori: REDENOMINATION RISK AND BANK RUNS IN A MONETARY UNION WITH AND WITHOUT DEPOSIT INSURANCE SCHEMES

This paper develops a basic framework characterized by a monetary union in which a shock to the policy interest rate, to...

June 1, 2019

R. Rinaldi: Cash

The world of retail payments is changing rapidly. We observe app-based mobile payments, contactless and proximity transa...

May 24, 2019

L. Codogno, P. van den Noord: The rationale for a safe asset and fiscal capacity for the Eurozone

The only way to share common liabilities in the Eurozone is to achieve full fiscal and political union, i.e. unity of li...

May 10, 2019

E. Avgouleas, C. Goodhart: BANK RESOLUTION 10 YEARS FROM THE GLOBAL FINANCIAL CRISIS: A SYSTEMATIC REAPPRAISAL

Since 2010 most Group of Twenty (G20) jurisdictions have introduced new recovery and resolution regimes to deal with ban...

May 1, 2019

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Monthly Briefs

Five Bullets

Europe: Facts & Docs

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

Press statement by President von der Leyen with Italian Prime Minister Meloni – May 25, 2023

Read the statement...

May 29, 2023

Capital Markets Union: Commission proposes new rules to protect and empower retail investors in the EU – May 24, 2023

Read the press release...

May 24, 2023

Policy guidance under the European Semester: Sustaining reforms and investments to secure the EU’s long-term prosperity, competitiveness, fairness and resilience – May 24, 2023

Read the press release...

May 24, 2023

EU Customs Reform: A data-driven vision for a simpler, smarter and safer Customs Union – May 17, 2023

Read the press release...

May 18, 2023

Spring 2023 Economic Forecast: An improved outlook amid persistent challenges – May 15, 2023

Read the press release...

May 17, 2023

Interview with Luis de Guindos, Vice-President of the ECB – May 14, 2023

Read the interview...

May 17, 2023

Interview with Christine Lagarde, President of the ECB – May 10, 2023