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.

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

P. Reichlin: The ECB should have a much larger role in the coronavirus crisis

The COVID-19 lockdown is a major aggregate shock on the world economy. Because it is aggregate, it will not be easily mi...

April, 14 2020


National governments and European institutions have mobilized and will continue to mobilize huge financial resources to ...

April, 14 2020

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. Canofari, G. Di Bartolomeo, M. Messori – EMU Stability: Direct and Indirect Risk Sharing

Our paper aims to analyze the effectiveness of different risk-sharing mechanisms in providing stability to a monetary un...

August, 21 2017

F. Passacantando – Italexit, Debt Cancellation and ParallelMoneys: The fatal attraction for the Argentine solution

This paper aims to show the extraordinary complexity of an exit of Italy from the eurothrough a comparison with Argentin...

July, 15 2017

L. Andreozzi, R. Tamborini: Why Is Europe Engaged in an Interdependence War, and How Can It Be Stopped?

There is large evidence that European countries, the EMU in particular, are engaged in an interdependence war, i.e. non-...

April, 24 2017

P. Benigno: A Central Bank Theory of Price Level Determination

A theory in which the central bank controls the price level is put forward as an alternative to the fiscal theory of the...

April, 19 2017

R. De Santis, P. Esposito, E. Masi: Are There Common Structural Determinants of Potential Output Growth in Europe?

GDP growth in the Eurozone during the last twenty years continuously decreased. In addition, the global financial crisis...

March, 25 2017

S. Berardi, A. Marcelletti: Optimal Bank Capital Requirements: An Asymmetric Information Perspective

The issue on the amount of capital banks should hold has pushed back the debate on top of policymakers’ agenda. Litera...

March, 1 2017

F. Schivardi, E. Sette, G. Tabellini: Credit Misallocation During the European Financial Crisis

Do banks with low capital extend excessive credit to weak firms, and does this matter for aggregate efficiency? Using a ...

March, 1 2017

D. Focarelli: Why Insurance Regulation is Crucial for Long-term Investment and Economic Growth

This paper focuses on the role of insurers as providers of funds for long-term investment in the real economy, with an e...

January, 15 2017

A. Bassanetti, C. Cottarelli, A. Presbitero – Lost and Found: Market Access and Public Debt Dynamics

The empirical literature on sovereign debt crises identifies the level of public debt (measured as a share of GDP) as a ...

December, 11 2016

Five Bullets

Europe: Facts & Docs

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


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













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