Balassone, Franco, Momigliano and Monacelli examine the process of fiscal consolidation in Italy during the Nineties. They highlight its success in reversing a trend that could have led to public debt default, and in ensuring the early participation of Italy to monetary union. The authors argue...

The reform of pension systems is on the political agenda in most European countries and in the USA. The paper considers the main factors underlying the reform process and examines the reforms introduced in recent years and those currently under discussion in order to trace common features, but...