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

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. 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

S. De Nardis: Dissecting Italian manufacturing: sector, dimension and resource allocation in the last ten years

After a prolonged and disappointing period, manufacturing productivity has relatively improved in Italy. It is a decade ...

April 20, 2019

V. Ceriani, G. Ricotti: The international coordination of corporate taxation: old solutions for new challenges?

The ways in which multinational companies operate in the current economic context questions the adequacy of internationa...

March 15, 2019

P. Benigno: Monetary Policy in a World of Cryptocurrencies

Can currency competition destabilize central banks’ control of interest rates and prices? Yes, it can. In a two-cu...

February 8, 2019

P. Esposito, S. Collignon, S. Scicchitano: Immigration and Unemployment in Europe: Does the core-periphery dualism matter?

In this paper, we assess the relation between immigration and unemployment for a sample of 15 EU countries between 1997 ...

February 1, 2019

F. Felici, E. Nicosia: The Credibility Legacy

In the last decade, citizens’ trust of economic experts has considerably declined. Even though the cause of this situa...

January 21, 2019