Publications & Research

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. Analysis is provided by in-house researchers, members of the Scientific Council, and the Policy Group, with additional contributions from the rest of our Senior Fellows. Supplementing these scholars is a Strategic Policy Group, which includes business leaders and high-level officials in EU institutions. They work alongside members of the Policy Group to provide a better understanding of the direction of current Italian strategies in the context of European negotiations. The Strategic Policy Group convenes at least twice a year (two regular meetings and additional ones as requested by our director).

SEP produces policy briefs, working papers, five bullets and a monthly newsletter. All publications are available online.

Policy Briefs

The School of European Political Economy’s research efforts form a cornerstone in our mission to discuss, analyze, and shape core issues in European economic policy. Prepared by scholars, faculty, and other academics in our network, these policy briefs and commentaries cover a wide range of topics pertaining to Europe. Completed papers are published on our website and disseminated to our contacts.

The global financial crisis in 2007 and 2009, and the ensuing sovereign debt and banking crises in the eurozone, have profoundly changed the governance and institutions of the EU and EMU. SEP’s think tank was created with the intention of gathering a unique group of researchers who are devoted to understanding the policy issues that have emerged in the new European political economy. Monetary policy, governance, and institutions represent the core interests of our research.

F. Bontadini, V. Meliciani, M. Savona, A. Wirkierman: Nearshoring and Farsharing in Europe within the Global Economy

Has the world economy really entered a phase of de-globalisation or deceleration in globalisation after the great recess...

June, 10 2022

C. Bastasin: Europe should not encourage the “China vs the US” bipolarity

Deglobalization does not forcedly mean less multilateralism. This is how Europe should think about the likely coming bip...

May, 10 2022

C. Bastasin: Post-war global supply chains – Europe must defend economic cooperation

The European Union is the most open trading area in the world. Changes in the flows of imports and exports have a more p...

April, 10 2022

C. Bastasin: How Italy was about to be excluded from the euro – A behind-the-scenes reconstruction of a historical event

Helmut Kohl’s request, even before saying goodbye, took me completely by surprise: “Tell me about your famil...

March, 29 2022

C. Bastasin: A critical assessment of German Rearmament

If it was not for the events in Ukraine, at any other time Germany’s rearmament, announced by surprise on February 27 ...

March, 14 2022

L. Bini Smaghi – La Riforma del Patto di Stabilità e Crescita: Ce n’è veramente bisogno?

Con la graduale uscita dall’emergenza pandemica e il consolidamento della ripresa economica si avvicina la fine del pe...

February, 24 2022

S. Micossi – Managing sovereign debts held by the ESCB: operational and legal constraints

Following the proposal by Avgouleas and Micossi (2021) and Micossi (2021), several authors (Amato and Saraceno 2022, Bag...

February, 23 2022

M. Messori – Italy’s national Recovery and Resilience Plan: Efficient use of resources and social well-being

The extraordinary funds made available by Next Generation-EU (NGEU), and – in particular – by its most impor...

February, 14 2022

C. De Vincenti – The “do no significant harm” principle: Two possible interpretations

With the European Commission’s recent draft document that includes, albeit under restrictive conditions, gas and ...

February, 2 2022

Working Papers

Working papers are the culmination of research carried out by the internal group at SEP (members of the Scientific Council and our in-house researchers) and by fellows involved in our activities. They represent an important contribution to the international debate on major theoretical and practical economic policy issues facing the EU and EMU.

P. Esposito, V. Larocca, M. Messori, M. Mischitelli – Bank-based or Market-based financial sources: Which is better for the EU?

This paper examines the relationships between the financial structure and the economicperformance of non-financial corpo...

November, 8 2021

P. Benigno, P. Canofari, G. Di Bartolomeo, M. Messori: Financial Dominance in the Pandemic and Post-Pandemic European Economy

Differently from past episodes, the European institutions responded to the pandemic shock with an appropriate policy mix...

October, 4 2021

P. Nicolaides – The Dispute-Settlement Provisions of the EU-UK Trade and Cooperation Agreement: Are they Adequate for the Task?

The Trade and Cooperation Agreement between the European Union and the United Kingdom has established new institutions a...

September, 23 2021

A. Erce, E. Mallucci, M. Picarelli: A Journey in the History of Sovereign Defaults on Domestic Law Public Debt

We introduce a novel database on sovereign defaults that involve public debt in- struments governed by domestic law. By ...

September, 22 2021

P. Della Posta, R. Tamborini: The existential trilemma of the EMU in a fiscal target-zone model

The lesson we draw from the EMU crisis of the 2010s, and from the outbreak of the COVID-19 pandemic, is that the EMU, wh...

September, 8 2021

F. Bontadini, R. Evangelista, V. Meliciani, M. Savona: Patterns of integration in global value chains and the changing structure of employment in Europe

This paper aims at revisiting the empirical evidence on the recent trends of countries’ integration in global value ch...

September, 1 2021

J. Bonchi – Asset Price Bubbles and Monetary Policy: Revisiting the Nexus at the Zero Lower Bound

Asset price bubbles are a major source of macroeconomic instability, but can they play a different role in a low interes...

June, 18 2021

T. Asonuma, M. Chamon, A. Erce, A. Sasahara – Costs of Sovereign Defaults: Restructuring Strategies and Financial Intermediation

Sovereign debt restructurings are associated with declines in the growth of GDP, invest- ment, bank credit to the privat...

May, 31 2021

A. Wirkierman, T. Ciarli, M. Savona: A Taxonomy of European Innovation Clubs

The paper provides a novel, empirically grounded map of innovation ‘clubs’ in the EU, based on a unique analysis of ...

May, 18 2021

Five Bullets

C. Bastasin: Italy’s debt causes resistance to new “green” fiscal flexibility

• Brussels is about to start a debate on waivers for green investments from the EU’s budget-deficit rules. However, ...

February, 5 2020

C. Bastasin: ON THE EU COMMISSION’S HARD-NOSED LETTER TO ITALY

• In a strongly worded letter, EU Commissioners Valdis Dombrovskis and Pierre Moscovici have accused Italy of planning...

October, 22 2018

C. Bastasin: ITALY’S IS NOT A POPULIST GOVERNMENT

● Italy’s government is not just another populist government, more or less similar to the Greek, the British or even...

October, 1 2018

C. Bastasin: Regarding the Letter of the Eight Finance Ministers

● European ministers of finance discussed the future of the EMU on several occasions over the last couple of months. U...

March, 13 2018

M. Messori: ON THE LESSONS LEARNED FROM DEUTSCHE BANK

DEUTSCHE BANK’S DIFFICULTIES, which exploded due to a multi-billion dollar fine required by the U.S. Department of Jus...

October, 4 2016

C. Bastasin: ON ITALY’S ISOLATION IN EUROPE

Italy is suffering from isolation in the European Union and the euro area. This goes far beyond anecdotal evidence of Pr...

September, 29 2016

M. Messori: On Europe, Post-Bratislava

It would be useful to expand and modify Chancellor Merkel’s European agenda in order to reduce the possibility of unde...

September, 21 2016

S. Micossi: On the Italian Criticism of the Bratislava Summit

On migration, while the concerns of Eastern European states were addressed, resulting in explicit promises to aid Bulgar...

September, 19 2016

C. Bastasin: ON MERKEL’S ROLE IN THE REFUGEE CRISIS

Merkel’s management of the Euro crisis actually hinged on the architecture of non- political institutions, with fi...

March, 9 2016

Europe: Facts & Docs

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

European Council, 20-21 October 2022 – Main Results

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October, 25 2022

Speech by President von der Leyen at the European Parliament Plenary on the preparation of the European Council meeting of 20-21 October 2022

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October, 19 2022

Statement by Christine Lagarde, President of the ECB, at the forty-sixth meeting of the International Monetary and Financial Committee – October 14, 2022

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October, 19 2022

Speech by European Commission President Ursula von der Leyen at the EU Ambassadors Conference 2022 – October 12

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October, 14 2022

Hearing of the Committee on Economic and Monetary Affairs of the European Parliament – September 26, 2022

Speech by Christine Lagarde, President of the ECB, at the Hearing of the Committee on Economic and Monetary Affairs of t...

September, 28 2022

Monetary policy in the euro area – Lecture by Christine Lagarde, President of the ECB, organised by Frankfurter Gesellschaft für Handel, Industrie und Wissenschaft – September 20, 2022

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September, 21 2022

Energy prices: Commission proposes emergency market intervention to reduce bills for Europeans – September 14, 2022

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September, 14 2022

2022 State of the Union Address by President von der Leyen – September 14, 2022

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September, 14 2022

The ECB monetary policy statement – September 8, 2022

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September, 8 2022

Newsletter

The School of European Economic Policy sends out occasional newsletters containing fellowship opportunities, application calls, updates, and news.

2022

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2021 - 2022