Since the late 1980s financial systems have gradually gone through profound changes in their regulatory framework. The most notable trait of this evolution is convergence towards some basic principles laid down by the Basle Committee on Banking Supervision. While some countries opted not to...

Dopo la seconda guerra mondiale ci sono stati il regolamento degli aiuti concessi sulla base del Lend-lease, l'istituzione del sistema di Bretton Woods, il prestito alla Gran Bretagna e, infine, il piano Marshall. Riflettendo su quel periodo ho proposto una mia legge delle politiche economiche...

The strategic outlook of the U.S. can be assessed by analyzing the balance sheets of its main sectors, which are mutually linked by a coherent system of accounting. The expansion of the period 1992-2000 was greeted by a wave of complacency in the United States and it was thought that it could...

Asset inflation, as distinguished from ordinary inflation, the latter referring to rising prices of consumer goods, wholesale commodities, or the national-income deflator, is a phrase not in use in the west, but current in Japan. There are times when assets rise in price in an inflationary way,...

Con questo numero, Moneta e Credito prosegue la sua nuova vita dopo l'interruzione connessa al passaggio di proprietà dalla Banca Nazionale del Lavoro all'Associazione Paolo Sylos Labini. Tale interruzione è stata colmata con i numeri speciali per il 2008 e per il 2009 usciti negli ultimi mesi...

The analysis here is founded on certain analogies with the Great Depression of the Thirties and four fundamental points: innovations, changes in the market forms, changes in income distribution and the sustainability of debts. The duration of prosperity depends first of all on the importance and...

The possibility of crisis in the years ahead, as in the years that followed the first half of 1930, lies in private revulsion against the dollar − e.g. by Japanese insurance companies with their vast savings and limited investment opportunities at home, unmatched by public governmental efforts...