Le determinanti della produttività del lavoro nell’Area Euro

The economic policy implications deriving from the analysis of the productivity determinants of the manufacturing industry in the Euro Area go in the opposite direction from the recipes indicated by “mainstream” economists in the aftermath of the outbreak of the sovereign debt crisis (and summarized by the triad : deconstruction of the labor market, fiscal austerity and privatizations). The reabsorption of the structural imbalances that characterize the countries of the area requires a coordinated plan of public investments in the peripheries that favors the adoption of a production model based on research and innovation, and therefore on international cooperation, rather than on wage deflation and competition between “neighbors”.

I rischi del sistema bancario ombra

Since the collapse of Lehman Brothers, the shadow banking system has drawn the attention of international institutions and academic community for its central role in the break-out of the global financial crisis. During the last decades, the shadow banking system considerably grew in size, especially in advanced economies, spreading across the real sector of the economy through its intertwined relationships with the traditional banking system, households and non-financial corporations. The aim of the present paper is to examine the evolution of the shadow banking universe and to provide some tools for the comprehension of a booming phenomenon, strongly blamed for representing one of the main causes of the recent global turmoil and for posing grave threats to financial and economic stability. Hence, following a deductive approach, the work concludes with some remarks on the risks connected to the shadow banking system as well as on the functions of monetary and fiscal authorities.

L’euro e la mancata integrazione europea

One of the causes of the best overall economic performance of the core countries lies in the greater weight of the most innovative sectors. These tend to show higher growth rates than the others and, in this way, positively influence the general development of the economy, since the dynamism of these sectors is also transmitted to the remaining economic sectors. On the other hand, peripheral countries are running the risk of being relegated to the margins of economic development.

Inasprire il vincolo esterno Il Meccanismo europeo di stabilità e il mercato delle riforme

Un Superstato di polizia economica Nel corso degli anni l’Europa unita è divenuta un catalizzatore di riforme che elevano il principio di concorrenza a paradigma dello stare insieme […]

Riformare l’Europa per far ripartire gli investimenti e salvare l’Europa

Cambiamento strutturale ed “extended crises” Il dibattito sulla stagnazione secolare, e sulle sue implicazioni in termini di politica fiscale e monetaria è già stato oggetto di ottimi saggi […]

Una vita da Mediane

Le carriere accademiche sono condizionate dalle scelte del Ministero che assegna le Abilitazioni facendo propri gli indici e le valutazioni di “agenzie private di rating”, considerando solo una parte della carriera. Sulla validità e legalità di questa procedura, che presenta molte criticità, non c’è mai stato dibattito per cambiare davvero le procedure, limitando gli interventi alla manutenzione al margine.

Una nota sulle definizioni di proprietà pubblica

The global financial crisis of 2007-2008 has reinvigorated criticism on the process of privatization during the previous decades. There are now several voices that ask for a renewed role of the State in the economic field, both in the academy and (sometimes) in the political debate. On the other hand, the numerous interpretations of the process of privatization have further contributed to the fragmentation of the topic, both in theory (what is meant with public ownership) and in empirical analysis (which juridical and organizational form is used by state- owned enterprises). To bring back the debate on a shared and homogenous base, it is useful to distinguish the process of nationalization from the one of socialization, as well as establishing which variables are relevant to update their definition.

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