The Basel Agreements, designed to pursue financial stability, have been instead a cause of instability, revealing fundamental analytical and operational weaknesses. The idea to define a constant capital ratio through complex statistical models implies serious dangers. A radical change is...

Infrastructure systems are closely connected with the aggregate production function and endogenous growth. To encourage their development, it is necessary to address the question of their selection and financing, especially re-considering the budget rules defined by the Fiscal Compact. Among the...