Grounding its analysis in the historical evolution of financial regulation, this book addresses a range of public policy issues that concern the design of financial regulation and its enforcement, and contributes several new ideas to the debate in this field. Financial systems have become more...

This book provides an indispensable guide to the economic, political and diplomatic process that led to the creation of the European single market and the signing of the Maastricht Treaty. In this new, expanded edition Padoa-Schioppa presents a lucid assessment of the opportunities and risks...

The article analyses the behavior of an open economy in which wages are fully indexed to prices. It specifically deals with the dynamics of inflation, aggregate demand, balance-of-payments deficits and the public budget deficit.

The paper examines the relationship between banking and securities activities in the light of financial market developments (securitisation, institutionalization of investment, emergence of complex financial instruments, conglomeration and consolidation), with particular reference to Europe. The...

The paper examines the relationship between banking and securities activities in the light of financial market developments (securitisation, institutionalization of investment, emergence of complex financial instruments, conglomeration and consolidation), with particular reference to Europe. The...

Over the years,reflecting a growing consensus on the priority of price stability as the objective of central banks and on market-oriented techniques as the appropriate instruments for monetary control,the focus of the debate has gradually shifted to what can be called the style of monetary...