edited by ISPI

Launching the RAstaNEWS Green Book

As the RAstaNEWS project draws to a close, on 28 January ISPI hosted the RAstaNEWS Final Conference "Rebalancing the Eurozone: Towards a New Economic Future" at Palazzo Clerici (Milan). The Conference was attended by distinguished speakers, among which Romano Prodi, former President of the European Commission and Italian Prime Minister, and Marco Buti, Director-General, DG ECFIN.
During the Conference Professor Patrizio Tirelli, RAstaNEWS Coordinator, presented the main policy recommendations that could be drawn from this 3-year research effort, which were collected in the RAstaNEWS Green Book. The Green Book presents a multi-pronged strategy to reform EMU macroeconomic policies and avoid the fate of recurring crises.
The policies that are singled out in the Green Book are both short- and long-term, and generally advocate more expansionary fiscal and monetary policies, together with better coordination of Member States' economic policies. They also call for the creation of a euro-area wide fiscal stance, the centralisation at the supranational level of macro-prudential policies, and a shift from fiscal to full macroeconomic surveillance.



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.
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In Search of the Euro Area Fiscal Stance

Alice Albonico, Alessia Paccagnini and Patrizio Tirelli Read it here

The Optimal Policy Mix to Achieve Public Debt Consolidation

Roberta Cardani and Patrizio Tirelli Read it here

Systemic Risk in the Interbank Market with Heterogeneous Agents

Pablo Rovira Kaltwasser and Alessandro Spelta Read it here

PIIGS in the Euro Area: An Empirical DSGE Model

Alice Albonico, Alessia Paccagnini and Patrizio Tirelli Read it here

Inequality and Growth: The Perverse Relation Between the Productive and the Non-Productive Assets of the Economy

Mario Amendola, Jean-Luc Gaffard and Fabrizio Patriarca Read it here

Limited Asset Market Participation and Macro-Dynamics in Medium-scale DSGE models. A perspective for the Eurozone

Maria Ferrara and Patrizio Tirelli Read it here

January 2016

On 28 January, RAstaNEWS held its Final Conference at ISPI (Palazzo Clerici - Milan).

December 2015

On 3 December, RAstaNEWS organized the Second Executive Briefing at CEPS, Brussels.

September 2015

On 9 September, RAstaNEWS organized a special session on the Great Recession at the 47th Money, Macro and Finance Research Group Annual Conference, held at the University of Cardiff.

July 2015

On 23-24 July, RAstaNEWS organized a special session at the World Finance Conference, held at the University of CEMA Buenos Aires, Argentina.


This project has received funding from the European Union's Seventh Framework Programme for research, technological development and demonstration under grant agreement no. 320278.

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