Messori’s paper analyzes the impact of the recent crises on the teaching of macroeconomics. In contrast with what happened during the Thirties, today we do not have a new macroeconomic paradigm. This is why the mainstream textbook of Blanchard, Amighini, Giavazzi (2010) remains irreplaceable...

Michal Kalecki's theory does not offer a straight distinction between investment financing and production financing. In particular, it does not stress enough that firms need financing to carry out their production. This fault is shared by a number of post-Keynesian authors; hence, it also...

The Italian banking system has successfully faced the impact of financial crisis but will suffer the effects of the «real» crisis on firms’ solvency and, consequently, has to raise additional cash funds.The use of securitization is an effective alternative to facilitate the flow of funds to...