Template-type: ReDIF-Article 1.0 Author-Name: Gianfranco Tusset Title: Italian money doctors: Introduction Abstract: Classification-JEL: Keywords: Note: Pages:5-7 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68263&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002001 Number: 1 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68263 Template-type: ReDIF-Article 1.0 Author-Name: Rosario Patalano Title: Carlo Antonio Broggia, a money doctor "in adverse circumstances" Abstract: The debate on monetary reform in the Italian Enlightenment Age was initiated by Carlo Antonio Broggia, a ?self-taught? Neapolitan merchant, who in 1743 pub-lished the Treatise on taxes, money, and the policy of public health, the main trea-tise on the subject published in Italy before Galiani?s Della Moneta and the Nea-politan abbot himself recognized its importance, considering Broggia the first to promote om Italy the study of a very useful and noble science. Broggia proposed a complex monetary stabilization program, basing it on a detailed theoretical analysis, breaking with the tradition of the monetary writers, who throughout the seventeenth century, prompted by the serious disorders besetting the Viceroyalty, had dealt with technical issues, without the will or the ability to produce an organic analytical contribution. In his Treatise, the Neapolitan merchant tackles the prob-lem of the stability of a bimetallic monetary system, troubled by the continuous modification of the commercial relationship between gold and silver, resorting pre-cisely to the maneuver of tariffs (i.e. of imaginary money), in order to sterilize the fluctuations of the bimetallic ratio. Despite the high level of Broggia?s contribution, his advice was not accepted and in the Kingdom of Naples the monetary stabiliza-tion policy failed completely. As a money doctor ante litteram Broggia acted in adverse circumstances openly opposing the policy of some ministers. Remaining unheard, he addressed the prince and public opinion directly, suffering the most drastic consequences. However, his ideas spread widely and were also welcomed by intellectuals such as Muratori who played a decisive role in the renewal of Ital-ian culture in the mid-eighteenth century. Classification-JEL: B11, B31, E52, N13 Keywords: Note: Pages:9-37 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68264&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002002 Number: 2 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68264 Template-type: ReDIF-Article 1.0 Author-Name: Gianfranco Tusset Title: Gian Rinaldo Carli (1720-1795): Diagnosis and treatment of a monetary plague Abstract: Gian Rinaldo Carli was an "expert" of money who lived in the 18th century, in an economic environment revolving around national and international trade. Be-longing to a community of scholars who lived in a sort of golden age of pre-classical studies on money, Carli stood out for his insistence on the need to inter-vene to contain monetary imbalance, seen as a serious impediment to the expan-sion of trade and economic dynamism. Carli curved his analysis, which was theo-retical in its depth, to political action and initiative. He sought to craft those rigor-ous empirically based measures that should underlie the practical work of a re-former. The paper aims to understand how Carli introduced rigor into his approach to monetary advice, in order to make it more adequate to meet what he believed was a growing need expressed by the governors of the time, starting with the Em-press of Austria. Classification-JEL: B11, B31 Keywords: Note: Pages:39-65 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68265&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002003 Number: 3 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68265 Template-type: ReDIF-Article 1.0 Author-Name: Stefano Solari Title: Luigi Luzzatti and the making of the Italian monetary system Abstract: After unification (1861) Italy had to face a badly integrated and oddly struc-tured financial system as well as some fragmented or lacking institutions. The fi-nancial position of the country was characterised by double deficit in public and external balance. That caused several monetary and financial difficulties. In par-ticular, monetary and banking institutions had to be step-by-step integrated and reorganised to support economic development in this new economic space. Luigi Luzzatti has been one of the main protagonists of this process of institution build-ing. Besides his commitment with trade tariff negotiation and a variety of initiative in industry and environmental protection, he dedicated a wide effort to monetary institutions. He was one of the main supporters of the "Latin Monetary Union", which lasted from 1865 to 1928 and contributed to reforms dealing with the prob-lem of the plurality of emission banks and of their control. Luzzatti also engaged in the development of "popular banks" to contribute to the structuring of the credit system from the bottom. Classification-JEL: B26, B31, E42, F33 Keywords: Note: Pages:67-84 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68266&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002004 Number: 4 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68266 Template-type: ReDIF-Article 1.0 Author-Name: Giovanni Farese Title: Enrico Cuccia, Mediobanca, and the decolonization of Guinea. An attempt at money-doctoring to boost Italian trade with Africa Abstract: This paper looks at Enrico Cuccia?s attempt at establishing an issuing bank, along with a consortium of major European banks, in Ahmed Sekou Toure?s Guinea in the aftermath of its independence from France in 1958. The topic is framed both in Mediobanca?s African business in the 1950s and in Cuccia?s own geopolitical and development views. As Guinea was not an isolated case, the paper also takes into consideration Italy?s new place in the postwar world economy and general issues such as the Cold War, decolonization, European integration, as well as the role of merchant banking in shaping foreign economic policy tools and goals. Classification-JEL: N24, N44, N74 Keywords: Note: Pages:85-96 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68267&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002005 Number: 5 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68267 Template-type: ReDIF-Article 1.0 Author-Name: Giandomenico Piluso Title: Reshaping the external constraint. Franco Modigliani, Tommaso Padoa-Schioppa and the EMS, 1977-1993 Abstract: During a decade of stagflation in the 1970s, a sea of changes on the interna-tional stage led to major macroeconomic imbalances that gave central bankers a different role in relation to governments and policy-makers. In Europe, this coin-cided with the relaunching of the project for European integration. The Italian case shows how governments and central bankers interacted in shaping adjustment strategies. The Bank of Italy had a pivotal role in shaping the country?s economic policies, relying on its capacity for economic analysis. The adjustment strategy formulated in the "Pandolfi Plan" of 1978 was conceived largely by an economist at the Bank of Italy, Tommaso Padoa-Schioppa. Further developing analyses conducted jointly with Franco Modigliani the previous year, the plan focused on the macroeconomic effects of high labour costs in the wake of a full ("100% and plus") wage indexing and rising government deficits. The policy proposal revolved around a few targets, namely investments and economic growth, and an explicit principle of fairness in the labour market. The Pandolfi Plan pledged to Italy?s en-during participation in the European integration process by combining economic development with adhesion to the "European choice", which meant joining the European Monetary System (EMS). The European agreements governing EMS membership replaced the standard external economic constraints, i.e. the balance of payments and exchange rate, with a new kind of semi-legal external constraint ingrained in the governance structure of the European Community. The nature of this new semi-legal external constraint as a fiscal discipline mechanism eventually emerged more clearly with the Maastricht Treaty. Classification-JEL: A11, B31, E42, E58, F15, F33, H12, H6, J08 Keywords: Note: Pages:97-119 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68268&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002006 Number: 6 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68268 Template-type: ReDIF-Article 1.0 Author-Name: Fabio Masini Title: Padoa-Schioppa as money doctor: Multilayered macro-prudential supervision and European integration Abstract: The dominant narrative describes Tommaso Padoa-Schioppa as a rather in-transigent, austerity-biased, market-preserving money doctor. He certainly was a leading actor in macro-prudential financial supervision, both at the national and supranational level. His personal engagement in many and diverse supervisory or-ganizations testifies of his idea that financial regulation and stability are a crucial stabilizing feature in a highly unstable and interdependent world. Guiding expecta-tions among market agents and providing a credible framework of financial rules is key to both stability and growth. This paper explores the connection between his contributions to financial supervision and the issue of an evolving and unfinished (thus particularly fragile) European integration project, challenging the idea that he was a radical market supporter. Classification-JEL: B27, B31, E42, F02, F36, F45 Keywords: Note: Pages:121-138 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68269&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002007 Number: 7 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68269 Template-type: ReDIF-Article 1.0 Author-Name: Monika Poettinger Title: Piero Roggi (1941-2020) Abstract: Classification-JEL: Keywords: Note: Pages:139-150 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68270&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002008 Number: 8 X-File-Ref: http://www.francoangeli.it/Riviste/References.ashx?idArticolo=68270 Template-type: ReDIF-Article 1.0 Author-Name: A cura della Redazione Title: Book reviews Abstract: Classification-JEL: Keywords: Note: Pages:151-163 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68271&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002009 Number: 9 Template-type: ReDIF-Article 1.0 Author-Name: A cura della Redazione Title: Referees 2020 Abstract: Classification-JEL: Keywords: Note: Pages:165-165 Volume: 9 Year: 2020 Issue:2 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=68272&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:spespe:v:html10.3280/SPE2020-002010 Number: 10