A common explanation for the European debt crisis has been that the introduction of the euro in 2001 caused interest rates to fall in those countries where expectations of high inflation previously kept interest rates high. Bond buyers assumed that a bond issued by any government in the European...

In this Manifesto, we make a set of proposals to fight unemployment in the EU. We believe that the European unemployment problem needs to be attacked on two fronts: through a broad spectrum of supply-side policies and the demand management policy. The expansion of aggregate demand is necessary...

In this Manifesto, we make a set of proposals to fight unemployment in the EU. We believe that the European unemployment problem needs to be attacked on two fronts: through a broad spectrum of supply-side policies and the demand management policy. The expansion of aggregate demand is necessary...

This manifesto challenges a pernicious orthodoxy that has gripped Europe's policy makers. It is that demand- and supply-side policies must have different aims, that a limited number of supply-side policies are to be devoted to fighting unemployment, and that demand management (and particularly...

This paper addresses several key issues regarding the recent Great Crisis 2007-2009. The;main ones are: was the financial crisis predictable by standard economic models? If not, are these models lacking of forecasting capabilities, or it is not a task of economic models to predict external events...

I met Franco Modigliani in 1948. We had common interests in three fields of economic theory--Keynes and unemployment, the relations between monetary and real phenomena and market forms and price formation. We had in common also the love for empirical verification and, on another plane, civil...

I met Franco Modigliani in 1948. We had common interests in three fields of economic theory--Keynes and unemployment, the relations between monetary and real phenomena and market forms and price formation. We had in common also the love for empirical verification and, on another plane, civil...

This paper discusses several key issues regarding the current Great Crisis, which has extended over two periods. The first period covered the 2007-09 subprime crisis in the US, while the second took the form of a twin sovereign debt and banking crisis in Europe after 2010, and persists until...

This manifesto challenges a pernicious orthodoxy that has gripped Europe's policy makers. It is that demand- and supply-side policies must have different aims, that a limited number of supply-side policies are to be devoted to fighting unemployment, and that demand management (and particularly...

After a review of the foreign direct investment (FDI) literature, and after the analysis of some recent European experiences (Spain, Ireland) of quick economic development sustained from abroad, the paper suggests that a specific fiscal policy can be applied to the South of Italy, in order to...