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Padoa-Schioppa as money doctor: Multilayered macro-prudential supervision and European integration
Titolo Rivista: HISTORY OF ECONOMIC THOUGHT AND POLICY 
Autori/Curatori: Fabio Masini 
Anno di pubblicazione:  2020 Fascicolo: 2  Lingua: Inglese 
Numero pagine:  18 P. 121-138 Dimensione file:  99 KB
DOI:  10.3280/SPE2020-002007
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più:  clicca qui   qui 


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.


Keywords: Tommaso Padoa-Schioppa, money doctor, macroprudential supervi-sion, European monetary integration
Jel Code: B27, B31, E42, F02, F36, F45

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Fabio Masini, in "HISTORY OF ECONOMIC THOUGHT AND POLICY" 2/2020, pp. 121-138, DOI:10.3280/SPE2020-002007

   

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