According to Senior Scholar Jan Kregel and Paolo Savona, attempting to maintain the status quo in the face of the introduction of some recent technological innovations-chiefly cryptocurrencies and associated instruments based on distributed ledger technology, the deployment of artificial...

The article is part of the special issue of the journal on Charles P. Kindleberger (CPK). The article first summarizes CPK's professional biography and his historical method. Then particular attention is devoted to the study of international relations and the international financial and economic...

This paper examines interactions between monetary policy and financial stability. There is a general view that Central Banks smooth interest rate changes to enhance the stability of financial markets. But might this induce a moral hazard problem, and induce financial institutions to maintain...

The massive use of derivatives and securitisation by sovereign States for public debt and deficit management is a growing phenomenon in financial markets. Financial innovation can modify risks effectively run and alter the stability of the public sector finance. The experience of some developed...

Italian Abstract: La mancata crescita della produttività è un tema centrale per economisti e governi. Le politiche pubbliche di stimolo della produttività hanno registrato modesti risultati, e il maggiore incremento della produttività si è avuto dove queste politiche sono state di minore...

We examine whether pre-crisis bank characteristics explain state support to European banks during the global financial crisis. We show that, before the crisis, supported and non-supported banks differ in numerous aspects and the differences reflect bank characteristics at the core of the...

According to Senior Scholar Jan Kregel and Paolo Savona, attempting to maintain the status quo in the face of the introduction of some recent technological innovations-chiefly cryptocurrencies and associated instruments based on distributed ledger technology, the deployment of artificial...

In 2011, Italian businesses and households have faced the Sovereign debt crisis, but savings confirmed its resilience. Since the beginning of the crisis, Italian households’ propensity to save has fallen nearly 1.8 percentage points, although Italy continues to rank above most other...

The continuing statements about the fall in the households’ propensity to save are not based on a deep analysis of the causes, and in particular the tax burden increase, low interest rates, lower protection offered to the workforce. An economic policy aimed to protect savings and to promote...