If the third stage of monetary union in Europe begins on 1 January 1999, not all EU countries will participate: two, with opt-out clauses, may choose to stay out; others will have a derogation because they do not fulfil the required conditions. The Maastricht Treaty, while silent on the regime...

This paper attempts to provide an interpretation of recent developments in the EMS. The System has evolved from a regime of adjustable, frequently adjusted parities, where capital controls provided a shelter to weaker currencies, to one where this shelter is being removed, in advance of Stage...

This paper is a first attempt at evaluating the determinants of the total interest rate differentials on government bonds between high yielders, namely Spain, Italy, Sweden, and Germany. In particular, we address the question of the relative importance of local and global factors in the...

Article originally published in Banca Nazionale del Lavoro Quarterly Review, vol. 16 n. 67, December 1963, pp. 411-420.

Originally published in Banca Nazionale del Lavoro Quarterly Review, vol. 37 n. 149, June 1984, pp. 119-149

Article originally published in Banca Nazionale del Lavoro Quarterly Review, vol. 12 n. 51, December 1959, pp. 386-434.