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. 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

R. Mazzocchi, R. Tamborini: Current Account Imbalances and the Euro Area

The critical role of current account imbalances (CAI) is widely shared in the consensus narratives of the European crisi...

January 15, 2019

M. Messori: FINANCIAL INSTABILITY AND EVOLUTION IN THE EUROPEAN MONETARY UNION

From mid-2007 to mid-2013 the European Economic and Monetary Union (EMU) was characterized by financial and ‘real’ c...

December 1, 2018

P. Canofari, G. Di Bartolomeo, M. Messori: Sovereign Debt Crisis, Fiscal Consolidation and Quantitative Easing in a Monetary Union

In a stylized model of the EMU, where centralized and national policy authorities strategically interact, we show that q...

November 10, 2018

M. Committeri, P. Tommasino: Managing sovereign debt restructurings in the euro zone

European economic governance is again under the spotlight. Several reform proposals have been put forward in recent year...

June 20, 2018