May, 13 2019
E. Avgouleas and C. Goodhart - Bank Resolution 10 Years From The Global Financial Crisis: A Systematic Reappraisal
Since 2010 most Group of Twenty (G20) jurisdictions have introduced new recovery and resolution regimes to deal with bank failures. The common objective of these regimes is, first, to facilitate the orderly failure of financial institutions and, second,...
April, 5 2019
S. De Nardis: Dissecting Italian manufacturing - sector, dimension and resource allocation in the last ten years
After a prolonged and disappointing period, manufacturing productivity has relatively improved in Italy. It is a decade now that it has been increasing in line with Germany and France. Better manufacturing productivity helped to stop the long-lasting fall...
March, 13 2019
V. Ceriani and G. Ricotti - The international coordination of corporate taxation: old solutions for new challenges?
The ways in which multinational companies operate in the current economic context questions the adequacy of international coordination of corporate taxation. A conceptual approach would require abandoning the classic paradigms of the international tax...
February, 13 2019
Can currency competition destabilize central bankscontrol of interest ratesand prices? Yes, it can. In a two-currency world, the growth rate of cryp-tocurrency sets a lower bound on the nominal interest rate and the attainableination rate. In a world of...
January, 23 2019
P. Esposito, S. Collignon, S. Scicchitano: Immigration And Unemployment In Europe - Does The Core-Periphery Dualism Matter?
In this paper, we assess the relation between immigration and unemployment for a sample of 15 EU countries between 1997 and 2016. We estimate separate effects for Northern and Southern Countries based on the differences between the two groups in terms of...
January, 21 2019
In the last decade, citizens’ trust of economic experts has considerably declined. Even though the cause of this situation has not yet been completely understood and investigated, the aim of this note is to analyse the possible explanations of this...
January, 21 2019
The critical role of current account imbalances (CAI) is widely shared in the consensus narratives of the European crisis that followed the Great Recession. On the basis of this interpretation, new EU initiatives were introduced, in particular the so-...
October, 3 2018
From mid-2007 to mid-2013 the European Economic and Monetary Union (EMU) was characterized by financial and ‘real’ crises that had a significant impact on the evolution of European banks. In the post-crisis phase, these banks will be unable to keep their...
September, 4 2018
P. Canofari, G. Di Bartolomeo and M. Messori: Sovereign Debt Crisis, Fiscal Consolidation And Quantitative Easing In A Monetary Union
In a stylized model of the EMU, where centralized and national policy authorities strategically interact, we show that ‘quantitative easing’ (QE) operates as an indirect risk-sharing mechanism that could improve EMU stability and the welfare of (a part of...