R. Tamborini: Beware of pitfalls in the Review of Policy Strategy of the European Central Bank

After taking office on November 1, 2019, the most important announcement from the new President of the European Central ...

January 24, 2020

C. Bastasin: Italy and Germany in Trump’s cross hairs

While the US and China trade rift is settling down, President Trump is setting his sights on Europe and, surprisingly, I...

January 17, 2020

L. Codogno, M. Monti: Taking stock of Christine Lagarde’s challenges at the ECB

Christine Lagarde’s reign at the European Central Bank (ECB) has heralded a shift not in the monetary policy field, bu...

January 14, 2020

C. Bastasin: The Year of “Eufouria”

The resolve of a self-professed geopolitical European Commission will be severely tested in the coming months. President...

January 14, 2020

L. Bini Smaghi: Is the ECB at risk of becoming an underachiever?

Over the past eight years the European Central Bank has systematically failed to achieve its primary objective of price ...

January 10, 2020

C. Bastasin: German political earthquake may have consequences on the banking union and the ESM

A change of leadership in the Social Democratic Party (SPD), the junior partner in the German coalition government, may ...

November 28, 2019

L. Codogno – The fiscal stimulus that is not: why there is no fiscal expansion in sight for the eurozone

As in Peter Pan’s fictional island of Neverland, people in Euroland refuse to grow up and face reality. The “never-n...

November 13, 2019

C. Bastasin: The strange reasons why Europe will have a “Golden Rule” in 2020

As recently as the beginning of 2018, the International Monetary Fund issued one of its most upbeat economic forecasts i...

October 23, 2019

L. Carpentieri, S. Micossi, P. Parascandolo: Overhauling corporate taxation in the digital economy

Is the corporate income tax (CIT) still an efficient system for taxing companies today? The CIT was introduced when econ...

October 22, 2019

A. Cardaci, F. Saraceno: Inequality, Financialisation and Credit Booms: a Model of Two Crises

We develop a macroeconomic model with an agent-based household sector and a stock-flow consistent structure, in order to...

February 11, 2016

F. Saraceno, R. Tamborini: How can it work? On the impact of Quantitative Easing in the Eurozone

How can the quantitative easing (QE) programme launched in March 2015 by the ECB be successful in the Eurozone (EZ)? Wha...

February 1, 2016

P. Schlosser – ‘Tightening the knot’: strengthening fiscal surveillance in EMU during the euro crisis

One of the key regularities which appeared to hold so far in European integration is that the closer a policy issue lies...

November 30, 2015

P. Canofari, M. Messori: Exit Risks and Contagion in the Euro Area

This paper aims to assess the possible impact that the depreciation of a common currency can have on the stability of th...

November 20, 2015

F. Landini, A. Arrighetti, A. Lasagni – Economic Crisis and Firm Exit: Do Intangibles Matter?

The crisis in the Euro area has caused several business closures, especially in the EMU periphery. In this paper we use ...

November 15, 2015

G. Bruzzone, M. Cassella, S. Micossi: The EU Regulatory Framework for Bank Resolution

The financial crisis of 2008-09 and the ensuing sovereign debt and banking crises within the eurozone exposed the presen...

October 31, 2015

F. Balassone, M. Committeri – Europe and the IMF: nec sine te, nec tecum …

As the sovereign debt crisis burst in 2010, the European Union lacked both the instruments and the expertise to manage t...

June 21, 2015

P. Benigno, S. Nisticò: Non-Neutrality of Open-Market Operations

Unconventional open-market operations can have consequences for inflation and out- put because of income losses on centr...

June 15, 2015

S. Micossi: The Monetary policy of the European Central Bank (2002 t0 2015)

This paper examines the policies pursued by the European Central Bank (ECB) since the inception of the euro. The ECB was...

June 10, 2015