edited by ISPI

RAstaNEWS and Inequality

Inequality has been on the rise since the 1970s in all developed economies, and only the very top income earners seem to have benefited from economic growth. The 2007 financial crisis has spurred growing concern that inequality might indeed increase due to persistent unemployment and to the fall in house prices.

Central bank policies are now more closely scrutinized for their distributional effects. In the US, the Fed's policies have been heavily criticized for supporting the prices of financial assets typically held by the richer part of the population. In the Euro area, austerity has unambiguously increased between- and within-country income and consumption differences, paving the way for the increasing popularity of Euroscepticism.

Analysis of the adverse effects of inequality on macroeconomic stability and of the distributional effects of macroeconomic policies is part and parcel of the RAstaNEWS project. Along with a diverse range of publications from our partners, below you can find contributions from Francesco Saraceno (OFCE and Sciences-Po) and Patrizio Tirelli (University of Milano Bicocca) and Giorgio Motta (Lancaster University) that directly deal with the link between inequality and macroeconomic conditions.



RAstaNEWS investigates many aspects of the future of macro-economic and monetary integration in Europe, paving the way to a revised governance of the EMU, and the EU as a whole, in the wake of the debt crisis.
Our project is based on the premise that rethinking the future of macroeconomic and monetary integration in Europe requires a substantial revision and integration of the underlying macroeconomic model and a new vision about what markets and policy-makers can accomplish.
Read more



High Inequality and its Impact on the Economy: Issues and Solutions

Francesco Saraceno (OFCE and Sciences-Po) Read it here

Limited Asset Market Participation, Income Inequality and Macroeconomic Volatility

Giorgio Motta (Lancaster University) and Patrizio Tirelli (University of Milano Bicocca) Read it here

New Insights on the US OIS Spread Term Structure during the Recent Financial Turmoil

Claudio Morana (University of Milano Bicocca) Read it here

The Comeback of Inflation as an Optimal Public Finance Tool

Giovanni Di Bartolomeo (Sapienza University of Rome), Patrizio Tirelli (University of Milan Bicocca), Nicola Acocella (Sapienza University of Rome) Read it here

The oil price-macroeconomy relationship since the mid-1980s: A global perspective

Claudio Morana (University of Milan Bicocca) Read it here

January 2014

On January 15th, ISPI hosted the First RAstaNEWS Conference "More Europe: Letting the Euro Work at Full Speed". To watch a video of the Conference or for more details and insights, click here.



Brunel University and University of Milan Bicocca, two of RAstaNEWS partners, are organizing the 10th BMRC-DEMS Conference on Macro and Financial Economics/Econometrics, to be held at Brunel University on 28-30th May.


UniversitÓ Politecnica delle Marche, one of RAstaNEWS partners, is organizing the 3rd Money and Finance Research (MoFiR) Workshop on Banking, to be held in Ancona, Italy, on June 25-27th.


RAstaNEWS will be organizing a special session at the 1st Conference of the International Association for Applied Econometrics, to be held at Queen Mary University of London, on June 26-28th.


RAstaNEWS will be organizing a special session at the 5th World Finance Conference, to be held in Venice, Italy, on July 2-4th.


Unsubscribe Click here