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.

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

S. Micossi – Reform of the Stability Pact: First principles

 A crowded seminar held by the Astrid Foundation has launched in Italy the discussion on the future of the European...

January, 27 2022

M. Buti, G. Papaconstantinou – European Public Goods: How can we supply more?

The discussion on the supply and finance of public goods at European level is part and parcel of the broader discussion ...

January, 26 2022

D. Gros: A (E)U-turn from Nord Stream 2 towards a European Strategic Gas Reserve

The EU does not have an army. It thus cannot defend Ukraine from a Russian invasion, but it can at least put itself in a...

January, 26 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: 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

C. Bastasin: ON THE BAIL-IN AND ITALY’S PUBLIC DEBT

The conflict between Rome and Brussels over the regulation of banks’ bail-in and public budget flexibility is a conseq...

February, 18 2016

Europe: Facts & Docs

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

European Council conclusions on Ukraine, the membership applications of Ukraine, the Republic of Moldova and Georgia, Western Balkans and external relations – June 23, 2022

Click here to read the press release...

June, 24 2022

Hearing of the Committee on Economic and Monetary Affairs of the European Parliament – June 20, 2022

Click here to read President Lagarde’s speech...

June, 20 2022

Commission sets out first analysis of the proposals stemming from the Conference on the Future of Europe – June 17, 2022

The European Commission has adopted a Communication setting out how it can follow up on the outcome of the Conference on...

June, 20 2022

Statement of the ECB Governing Council – June 15, 2022

On 15 June the Governing Council met to exchange views on the current market situation. Since the gradual process of pol...

June, 17 2022

ECB Press conference – June 9, 2022

Click here to get all the info...

June, 14 2022

The Commission presents the Draft Budget 2023 and the Annual Management and Performance Report for the EU budget for the 2021 financial year

The Commission has proposed an annual EU budget of €185.6 billion for 2023, to be complemented by an estimated €113....

June, 9 2022

Convergence Report reviews Member States’ preparedness to join the euro area and paves the way for Croatia’s euro adoption on 1 January 2023

The European Commission has concluded that Croatia is ready to adopt the euro on 1 January 2023, bringing the number of ...

June, 6 2022

Special meeting of the European Council (30 and 31 May 2022) – Conclusions

Click here to read the document...

June, 1 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