This paper looks at the recent debt crisis in Greece and argues that the crisis exemplifies a sequence of systematic mistakes made by International Financial Institutions, mistakes whose consequences had been clearly anticipated at the time of the first bail-out and could have been avoided. I...

Italian Abstract: Questo lavoro prende in considerazione la recente crisi di debito della Grecia e sostiene che questa mostra una serie di errori sistematici fatto dalle Istituzioni Finanziarie Internazionali, le cui conseguenze erano state chiaramente anticipate sin dal primo intervento di...

Itallian Abstract: L'articolo introduce il nuovo numero della rivista, revisionando i contributi in esso contenuti, e inserendoli in un contesto. L'autore discute le recenti tendenze della politica economica europea, con particolare attenzione ai suoi trascurati spillover, sia internazionali che...

A high share of foreign currency denomination of domestic public debt in rules out any recourse to inflation tax as an effective adjustment device. Anti- inflation policies based upon hard peg regimes may remove the exchange rate risk in the short run but - as pointed out by Argentina’s...

Statistical measurement of Italy�s international investment position is subject to considerable uncertainty, owing essentially to the presence of errors and omissions in the balance of payments. The entries under this item became very substantial at the start of the 1990s, coinciding with...

This paper looks at the recent debt crisis in Greece and argues that the crisis exemplifies a sequence of systematic mistakes made by International Financial Institutions, mistakes whose consequences had been clearly anticipated at the time of the first bail-out and could have been avoided. I...

This paper compares main European countries and the euro area specialization patterns. The analysis, that covers the period 1988-1997 and is based on a detailed sectoral breakdown, provides evidence to assess the degree of structural differences and convergence among European countries, which...

The ratification process of the constitutional treaty of the European Union needs to be started from a local level. The collected studies and statements of this paper have been presented in February 2005 and focus the different pro and contras, the opportunities and risks of the treaty in the...

Three industrial organization (IO) models suggested by Dornbusch (1987) are here adapted to study the labor-cost effects on relative prices of tradable goods between the regions of a monetary union. The assumption of imperfect and segmented goods and labor markets makes the analysis best suited...

This paper examines regional inflation divergence within the European EMU aiming at characterizing the properties of inflation differentials. The empirical evidence suggests that a process of price level convergence in the EMU is well on its way.