http://www.VoxEU.org Recent Tito Boeri articles on VoxEU.org en http://www.VoxEU.org/index.php?q=node/8265 Tito Boeri, 20 July 2012

Solving the EZ crisis will almost certainly involve some financial transfers in exchange for some loss of sovereignty. This column suggests a guiding principle for which policies should be under EZ control. Transfers of authority to supranational bodies must make a no-further-bailout clause credible.

Full Article: A no-further-bailouts principle]]> Fri, 20 Jul 2012 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/8265 http://www.VoxEU.org/index.php?q=node/7060 Tito Boeri, 4 October 2011

Today Italian five-year governments bonds are insured at 70 basis points above Spanish ones. In June it was the other way around. This column argues that this increase in Italian spreads is due not only to policy and communication failures but also to Berlusconi’s lack of personal credibility. The costs of such bad handling of the crisis could be of the order of €20 billion.

Full Article: Papi’s tax: How Berlusconi increases Italy’s bond spread]]> Tue, 04 Oct 2011 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/7060 http://www.VoxEU.org/index.php?q=node/6879 Tito Boeri, 17 August 2011

Italy is on its third fiscal consolidation package in just six weeks, and none have addressed its credibility crisis. This column argues that Italy’s problems come from its bad politicians, who refuse to learn that structural reforms are necessary. To err is human, but to persevere is diabolical.

Full Article: Italy's confidence crisis: Bad policies from bad politicians]]> Wed, 17 Aug 2011 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/6879 http://www.VoxEU.org/index.php?q=node/6438 Tito Boeri, 29 April 2011

Lampedusa is a small Italian island close to Tunisia. A recent influx of migrants has prompted Messrs Berlusconi and Sarkozy to call for a temporary suspension of the free mobility from countries receiving large waves of refugees and illegal migrants. This column argues that such a step would be madness. The EU needs more mobility, not less.

Full Article: Reforming Schengen is the wrong response to the Lampedusa crisis]]> Fri, 29 Apr 2011 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/6438 http://www.VoxEU.org/index.php?q=node/5935 Tito Boeri, 16 December 2010

Today the European Council meets to discuss a new package on economic governance. While this column praises the proposal’s acknowledgement of the dangers associated with external imbalances as well as fiscal imbalances, it is concerned about the approach to public and private debt, in particular the apparent weak stance towards the Stability and Growth Pact. Lessons from the Eurozone crisis do not appear to be learned.

Full Article: Saving jobs or saving institutions?]]> Thu, 16 Dec 2010 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/5935 http://www.VoxEU.org/index.php?q=node/5289 Samuel Bentolila, Tito Boeri, Pierre Cahuc, 12 July 2010

Many economists across Europe agree on the need for labour market reform. In this column economists from France, Italy, and Spain argue that while the reforms of the 1980s increased flexibility, they also led to a two-tier system with ultra-secure permanent workers and vulnerable temporary workers – increasing unemployment in the downturn. In order to complete the reform path, governments should fight dualism by making job security provisions increase smoothly as workers acquire tenure.

Full Article: Ending the scourge of dual labour markets in Europe]]> Mon, 12 Jul 2010 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/5289 http://www.VoxEU.org/index.php?q=node/3758 Tito Boeri, 10 July 2009

Tito Boeri of Bocconi University talks to Romesh Vaitilingam about his research on public perceptions of migrants in Europe, which, in the middle of a recession, are increasingly seeing migrants as a fiscal burden and are pressing governments to reduce their access to welfare and tighten immigration policies. The interview was recorded at the Centre for Economic Performance in London in June 2009.

Full Article: Immigration to the land of redistribution]]> Fri, 10 Jul 2009 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/3758 http://www.VoxEU.org/index.php?q=node/3688 Tito Boeri, 23 June 2009

Public opinion is turning against migration during the recession, as generous European welfare states make migrants a potential fiscal burden. This column warns against the excessively exclusionary solutions to which voters are turning and suggests decoupling migration and the welfare state.

Full Article: European public opinion, migration, and welfare benefits]]> Tue, 23 Jun 2009 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/3688 http://www.VoxEU.org/index.php?q=node/2445 Tito Boeri, 15 October 2008

Are EU citizens ready to accept the crisis rescue plan that makes massive transfers of resources from taxpayers to the banking sector? This column proposes three ways to share the rescue’s benefits with citizens: increased competition in the banking sector, tax reductions for low-wage earners, and temporary relief schemes for families with mortgage problems.

Full Article: How to share the rescue’s benefits with European citizens]]> Wed, 15 Oct 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/2445 http://www.VoxEU.org/index.php?q=node/1729 Alberto Alesina, Richard Baldwin, Tito Boeri, Willem Buiter, Francesco Giavazzi, Daniel Gros, Stefano Micossi, Guido Tabellini, Charles Wyplosz, Klaus F. Zimmermann, 1 October 2008

This is a once-in-a-lifetime crisis. Trust among financial institutions is disappearing; fear may spread. Last week’s US experience showed that saving one bank at a time won’t work. A systemic response is needed and in Europe this means an EU-led initiative to recapitalise the banking sector. Unless European leaders immediately unite to address this crisis before it spirals out of control, they may find themselves fighting over how best to salvage the aftermath.

Full Article: Open Letter to European leaders on Europe’s banking crisis: A call to action]]> Wed, 01 Oct 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/1729 http://www.VoxEU.org/index.php?q=node/1463 Tito Boeri, 3 August 2008

Italy may be headed for recession. The government's fiscal position would allow it to use prudent tax cuts to prevent recession, but its new budget plan only signals trouble.

Full Article: Berlusconi’s budget plans: Missing Italy’s opportunity to avoid recession]]> Sun, 03 Aug 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/1463 http://www.VoxEU.org/index.php?q=node/1161 Tito Boeri, 22 May 2008

Berlusconi’s new government faces tough economic challenges. Here one of Italy’s leading economists highlights three concerns the government must tackle in its first year: fiscal federalism, electoral reform, and curbing tax evasion.

Full Article: Three challenges for Silvio IV]]> Thu, 22 May 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/1161 http://www.VoxEU.org/index.php?q=node/1075 Tito Boeri, 23 April 2008

Unemployment has fallen greatly in Europe during the last decade, yet governments creating millions of jobs are losing elections. The source of public dissatisfaction is that the price of lower unemployment is greater employment risk. This column proposes further labour market reforms to address the problem.

Full Article: The paradox of disappearing European unemployment]]> Wed, 23 Apr 2008 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/1075 http://www.VoxEU.org/index.php?q=node/488 Tito Boeri, Luigi Guiso, 23 August 2007

The subprime crisis has its origin in Greenspan’s low interest rate policy. His successor should take care to reassure the markets in the short run without laying the foundations for a new overreaction “a la Greenspan”.

Full Article: Subprime crisis: Greenspan’s Legacy]]> Thu, 23 Aug 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/488 http://www.VoxEU.org/index.php?q=node/473 Tito Boeri, Agar Brugiavini, 16 August 2007

Italy’s Agreement on pensions has been signed, but it’s not the start of a new pact between generations. It’s a plug to buy time while holding out for new corrective measures. All the fundamental problems remain unresolved.

Full Article: Italy’s Pension Reform]]> Thu, 16 Aug 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/473 http://www.VoxEU.org/index.php?q=node/364 Tito Boeri, 8 July 2007

Empirically, wages have declined for unskilled labour in rich countries. This should be addressed and trade may play a role, but protectionist trade policies are not the answer. More imaginative thinking is required.

Full Article: New protectionism and unskilled workers]]> Sun, 08 Jul 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/364 http://www.VoxEU.org/index.php?q=node/349 Tito Boeri, Pietro Garibaldi, 4 July 2007

The Italian government has approved a short-sighted economic and financial planning document, which is politically expedient but not in the interests of the country.

Full Article: Italy's new multi-year budget plan]]> Wed, 04 Jul 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/349 http://www.VoxEU.org/index.php?q=node/214 Tito Boeri, 11 June 2007

Many believe that migrants abuse the welfare state and encourage a race to the bottom. There are three ways to lessen the problem: close the welfare door, select migrants with a points system, or harmonise safety nets across the EU. With each, there is a need to integrate social policies and migration policies more closely.

Full Article: Migration and welfare]]> Mon, 11 Jun 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/214 http://www.VoxEU.org/index.php?q=node/171 Tito Boeri, Lans Bovenberg, 16 May 2007

Pension Funds are by now the largest institutional investors in international financial markets. Better regulations are needed to guarantee a growth enhancing development of the pension fund industry. They concern both accounting and disclosure requirements, default options as well as the internal structure of pension funds. These regulations are more effective when accompanied with reforms of public pensions and labour markets.

Full Article: Pension funds as investors]]> Wed, 16 May 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/171 http://www.VoxEU.org/index.php?q=node/37 Tito Boeri, Lans Bovenberg, Benoit Coeuré , Andrew Roberts, 30 April 2007

This eighth ICMB/CEPR Geneva Report on the World Economy takes a stance on a number of controversial issues concerning the future of pension funds.

Full Article: Dealing with the new giants: rethinking the role of pension funds]]> Mon, 30 Apr 2007 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/37 http://www.VoxEU.org/index.php?q=node/110 Tito Boeri, Guido Tabellini, 4 April 2006

Written in early 2006: The changes Berlusconi made to Italy’s electoral system will return Italy to its old tradition of short-lived governments and unstable coalitions.

Full Article: Italy’s return to political paralysis]]> Tue, 04 Apr 2006 00:00:00 GMT http://www.VoxEU.org/index.php?q=node/110