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Term Premia for the Euro Area and the Transmission Mechanism of Monetary Policy
Given the common monetary policy in Europe, term premia on bonds issued by different countries are an immediate gauge of the heterogeneity in the transmission mechanism of monetary policy in Europe and of the need for intervention to protect the Euro...
Policy Brief n.3 - Monetary Policy and Supply Shocks: The Role of Inflation Expectations
In the discussion on monetary policy in the presence of supply shocks, we focus on the Euro area to understand the recent wave of inflation.
The "national security argument" for new US protectionism
American protectionism has been reinvented in the name of “national security”. Yet, the belief that a country can achieve its own “nationally security” unilaterally is debatable.
Generative AI and the rediscovery of the legitimate interest clause
The proliferation of advanced generative AI models has unequivocally highlighted what was already foreseeable since the advent of the algorithmic era. The traditional notion of "consent" is no longer a viable proposition in the context of an alg...
Italy & Europe, How Germany Learned to Stop Fearing the ESM
With the establishment of the ESM, the original form of the states' own responsibility for their budgetary policy (no bailout clause), which was central to Germany, has been permanently softened.
Dal piano Biden tante opportunità per l'Europa
L'Inflation Reduction Act (IRA), firmato dal Presidente degli Stati Uniti Joe Biden quasi un anno fa (agosto 2022), è il primo importante provvedimento per contrastare il cambiamento climatico che il parlamento degli Stati Uniti abbia mai approvato. ...
The European Union at the time of the New Cold War: A Manifesto
Rebuilding trust in the EU would entail the recognition that the winners of yesterday are not the winners of today or tomorrow. In a world of endemic uncertainty and repeated shocks, to avoid zero-sum games, an insurance-based solidarity is needed wh...
Bank Profitability in Uncertain Times
While banks are now profiting from the new interest rate scenario, the ultimate long-term effect of heightened interest rates on bank performance remains uncertain.
Is Technology our Enemy?
Bite-back occurs when an innovation has unexpected and unintended effects. It is probably the case that in most cases such consequences are negative, but that is not invariably the case. Bite-back happens because a new technology is by definition an ...
Do EU Directives on Women on Boards and on Pay Transparency Reduce Gender Gaps?
The EU directives on Women on Boards and on Pay Transparency have a clear objective: to reduce gender gaps in European countries. Assessing their effectiveness requires a thorough understanding of the outcomes of similar policies based on research.