The European crisis appears as the n-th “this time is different” episode of the financial liberalisation sequence cum fixed exchange rates, capital flows from the centre to the periphery, housing bubble, current account (CA) deficit and indebtedness, default. In the author’s view, although...

Recently a number of studies on banking systems’ procyclicality have been drawn. Such an issue, often developed as a consequence of Basel 2 agreements, is related with credit crunch phenomena and financial stability. Typically, a temporary shock may produce a long term effect following or...

Il saggio illustra la spiegazione Classico-Kaleckiana della crisi dell’Eurozona domandandosi se essa sia un effetto indesiderato o possa, invece, rappresentare il dispiegamento dei veri obiettivi anti-sociali della moneta unica. Si esaminano poi le possibili vie d’uscita, inclusa quella di...

By making the most of a newly-available large set of historical statistics, the paper outlines the main features of Italy’s modern economic growth from unification (1861) until the present day (2011). Alongside national GDP estimates, regional inequality, living standards and inequality of...

Due rapporti della Direzione per gli affari economici e finanziari della Commissione europea (European Commission 2009, 2010) forniscono un quadro ben documentato e condivisibile della genesi degli squilibri europei, sia commerciali che nei bilanci interni dei settori pubblici e privati, nel...

Contributions to Brancaccio and Fontana (2011) look at a variety of aspects of the current crisis, some of them focusing on the contingent financial causes, others on the underlying contradictions of capitalist economies. In this context, less attention has been paid to the role of Europe and...