This article – written with Matteo Deleidi, Riccardo Pariboni and Marco Veronese Passarella – work takes inspiration from four theoretical strands: recent developments in ecological macroeconomics; the Schumpeterian framework of evolutionary economics that emphasises the entrepreneurial role of the State; the stock-flow consistent approach to macroeconomic modelling; and the supermultiplier […]

New WORKING PAPER: “On the Takeover Mechanism in Market Socialism”, by Emilio Carnevali and Matteo Sommacal. The paper investigates the reasons for the socialist movement’s historical distrust of the development of “well-defined” economic projects. This attitude seems to have changed, as a variety of blueprints for a socialist economy have […]

The last couple of decades have seen the publications of many and often disparate contributions that build on the shared view of John Maynard Keynes and John Commons. A Modern Guide to Post-Keynesian Institutional Economics (PKIE) recently published by Edward Elgar and edited by Charles J. Whalen is a careful review of […]

The “European Journal of Economics and Economic Policies: Intervention” has just published an interesting symposium on Modern Monetary Theory and its critics. The starting point was a couple of papers written by two economists of the Banque de France – Françoise Drumetz and Christian Pfister. As pointed out by Marc […]

In 2020 Marco Varonese Passarella, Giuseppe Fontana and I published a paper in the “Cambridge Journal of Economics” in which we developed a “new Marshall-Lerner condition” given a (more realistic) assumption of only partial exchange rate pass-through to import prices. We showed that the higher the pass-through, the slower is […]

The Chinese version of my paper “Is socialism back? A survey of contemporary economic literature”, written with André Pedersen Ystehede (Statistics Denmark), has now been published by “Contemporary World and Socialism”. Here is the link (if you can read Chinese: I cannot, but I have been told it is there! […]

I have been interviewed for the “Accounting, Finance and Economics Newsletter” of Northumbria University. And I tried to give a little advice to my students on their future career plans. Thank you, Karla Prime, for this opportunity. Here is the interview.

È probabile che nei prossimi giorni sia la Fed che la Banca d’Inghilterra comunichino un aumento dei tassi di interesse di 75 punti base. Ma in entrambi i paesi pesano l’incertezza per le prospettive dell’economia e le incognite di carattere politico. Potrebbe essere vicino un allentamento della stretta monetaria? Ne […]

Con una clamorosa marcia indietro la prima ministra britannica ha ritirato la misura che prevedeva l’eliminazione dell’ultima aliquota dell’imposta sul reddito, quella per i contribuenti più ricchi, con reddito oltre le 150,000 sterline. Ma il grosso del suo pacchetto di tagli alle tasse resta in piedi. Ne ho parlato su […]

È stata una settimana di drastici incrementi dei tassi di interesse da parte delle banche centrali. Il contesto macroeconomico appare però in deciso peggioramento, soprattutto in Europa. Quali politiche si dovrebbero adottare in questa fase di estrema incertezza? Ne ho parlato con Elisa Piazza a Linea Mercati su Class CNBC. […]