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

P. C. Padoan: Public Debt Reduction in Uncertain Times – With a View to Europe

We live in uncertain times both economically – growth remains weak, especially in the fundamentals – and in ...

September 16, 2019

S. Micossi: A new drive for the Capital Markets Union

For two decades, the lack of private investment has been one of Europe’s biggest economic weaknesses, undermining prod...

September 13, 2019

M. Messori: The potentials and the dangers of the Italian economy in a renewed euro area

Overcoming the political and institutional tensions that have characterized Italy in the last fourteen months opens up n...

September 12, 2019

A. Franconi: Mini-Bot: Ingenuity or Ignorance

With the infringement procedure launched by the European Union against Italy in December 2017 (not to be confused with t...

September 6, 2019

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

P. Esposito: Trade (dis)Integration and Imbalances in the EMU

The aim of this paper is to assess the role of competitiveness and financial integration on trade flows for countries be...

May 30, 2015

C. Gianetti: Debt Concentration of European Firms

This paper investigates the level of debt specialization across European firms relying on a cross-country comparable sam...

March 31, 2015

C. Fassio: Export-Led Innovation Among European Firms

This paper investigates the effect of exporting activities on the innovation strategies of European firms in France, Ger...

March 14, 2015

A. Boitani, R. Tamborini – Fiscal Policy Coordination: A Necessary Step for the Eurozone Recovery

The prolonged recession in the Eurozone is mainly due to austerity policies, which are based on faulty theoretical found...

February 21, 2015

C. Brescia Morra: From the Single Supervisory Mechanism to the Banking Union

The agreement on the Single Supervisory Mechanism (SSM) is an important step to create an integrated banking system in E...

June 25, 2014