This article analyses the disparity between the substance of what was announced and the language put around it by the ECB, mainly in the press release on its Monetary Policy…
Publications
Consumer prices started rising in 2021, and the rise has quickly gathered speed. Many politicians and central bankers were caught by surprise. They initially claimed that price inflation was provoked…
The Roots of Wealth Are in the Psychology of the Individuals
WP 2022-05. Executive Summary Italy is a country marked by strong social and economic inequality among its regions. This inequality not only has deep secular roots, but seems to insistently…
WP 2022-04. Exectutive Summary When the supply of money increases and the supply of goods remains the same, inflation occurs. Thus, inflation is a monetary phenomenon. We discuss the essence…
ECB Policymakers Run Out of Options; Antifragmentation Cannot BOTH Address Inflation AND Contain Spreads
When the history of the euro currency’s rise and decline in popularity is written, the month of June 2022 will be viewed as decisive. In June, the ECB committed to…
As emphasized in June, the law establishing the Italian universal-minimum-income programme (RdC) also puts the Ministry of Labor and Social Policies — the same authority that advocated its adoption —…
In January 2021 the UK left the EU single market and customs union, but, only eighteenth months on, some within Boris Johnson’s own party are starting to have second thoughts…
Capitalism Is Not Corporatism
In a poll administered in the US in 2020, 40 percent of individuals expressed a favorable view of socialism. This result is sharper for younger generations – 35 percent of…
WP 2022-03. Executive Summary We study the causal effects of household tax credits on the willingness to demand legally provided services using a survey experiment among 670 German home owners.…
WP 2022-02. Exectutive Summary Whether the household or the individual should be the appropriate unit for the assessment of taxation is contested in economics. We argue that the household should…

