The ECB Can Save the Italian Economy and Prevent a New Euro Crisis Triggered by Covid-19 Fallout

The Italian government's effort to contain the coronavirus will have significant economic consequences. Italy should be allowed to ask for emergency help with one...

Catalonia on the Brink: How Did We Get Here?

Catalans simply want to vote and exercise their right of self-determination, argues Jaume Ventura of CREI; if they do not stand up for their...

The Catalonian Labyrinth [Parts I & II]

The Catalonian problem required farsighted political leadership. We got the opposite, and now the patients are running the asylum, says Tano Santos of...

Italy’s Referendum: You Call it Populism, I Call it Democracy

The “no” vote in Italy’s referendum was not unexpected, economically meaningful, or against globalization. In these regards, it was not like Brexit or Trump....

Can the Euro Be Saved? A Stigler Center Panel Pits Skepticism Versus Optimism

Joseph Stiglitz: "it may be necessary to abandon the euro to save the European project." Markus Brunnermeier: “the situation is improving. The structural reforms really worked,...

The Euro Crisis and The Clash of Ideologies: Q&A with Markus Brunnermeier

Brunnermeier, co-author of the recent book The Euro and the Battle of Ideas, participated in our November 30 event on the future of the euro...

Greater Political Integration is Necessary for a Sustainable Euro

Read an excerpt from Luigi Zingales' 2014 book Europe or Not. On November 30, the Stigler Center hosted a panel discussion on the future of...

Stiglitz, Brunnermeier, and Zingales: Is the Euro Project Doomed?

Join us for a panel between Nobel laureate Joseph Stiglitz and Markus Brunnermeier, both authors of recent books on the future of the Euro....

Are Special Interests Dooming the Euro to Fail?

As the Eurozone struggles to stave off a lingering economic crisis, four economists debate the measures necessary to ensure its survival and what’s preventing...


Uninhibited Campaign Donations Risks Creating Oligarchy

In new research, Valentino Larcinese and Alberto Parmigiani find that the 1986 Reagan tax cuts led to greater campaign spending from wealthy individuals, who benefited the most from this policy. The authors argue that a very permissive system of political finance, combined with the erosion of tax progressivity, created the conditions for the mutual reinforcement of economic and political disparities. The result was an inequality spiral hardly compatible with democratic ideals.

Did the Meme Stock Revolution Actually Change Anything?

Many financial commentators thought that the surge of retail investors participating in the stock market, the most notable of whom boosted “meme stocks” like GameStop, would democratize corporate governance and improve prosocial firm behavior, including the promotion of environmental, social, and governance (ESG) goals. In new research, Dhruv Aggarwal, Albert H. Choi, and Yoon-Ho Alex Lee find evidence that the exact opposite took place.

The Kroger-Albertsons Merger Will Not Help Grocery Competition

Kroger and Albertsons say they need to merge to compete with Walmart. Claire Kelloway argues that what they really want is Walmart’s monopsony power, and permitting mergers on these grounds will only harm suppliers, workers, and consumers.

Innovators Respond to Their Presidential Candidate Winning With More Innovation

Does an inventor’s political identity influence their productivity? In a new paper, Joseph Engelberg, Runjing Lu, William Mullins, and Richard Townsend examine the impacts of the 2008 and 2016 United States presidential elections on Democrat and Republican inventors, with a particular focus on the quantity and quality of patents after the country elects a new president.

Letter to the Editor: Former FTC and DOJ Chief Economists Urge Separation of Economic and Legal Analysis in Merger Guidelines

Seventeen former chief economists of the Federal Trade Commission and the Department of Justice Antitrust Division urge current Agency heads to separate the legal and economic analysis in the draft Merger Guidelines to strengthen the role of the latter in merger review.