The experience of other successful monetary unions and economic theory suggest that the euro area would benefit from the establishment of a supranational fiscal capacity. Institutional reforms prompted by the crisis (e.g., the European Stability Mechanism and the banking union) are introducing...

This paper reviews the main macroeconomic trends and the debate on policy priorities in Italy since the end of the Nineties. In the decade up to the outbreak of the global crisis (1998-2007), in Italy the reform process came to a virtual standstill; this is partly due to the fragmentation of the...

The paper examines the development of Italy's public finances after the consolidation period 1992-97, which secured participation in the European Monetary Union from the outset. The quot;structuralquot; developments in the main budgetary components are assessed, excluding the effects of the...

Italian Abstract: Questo lavoro esamina il fenomeno dei ritardi di pagamento delle Amministrazioni pubbliche italiane. Il principale contributo che offre al dibattito è rappresentato da nuove stime sullo stock dei debiti commerciali e sui tempi di pagamento per gli anni 2008-2014 che, rispetto...