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Fotografia di un declino 

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Perché l'Italia ha smesso di crescere?

Perché i salari ristagnano e i giovani emigrano all'estero?

Questo libro affronta senza illusioni una delle questioni più urgenti del nostro tempo: il declino economico italiano.

Attraverso dati, evidenze e analisi rigorose, gli autori smontano i luoghi comuni e ricostruiscono le vere cause della stagnazione: una demografia in crisi, una produttività ferma da decenni, un sistema fiscale e istituzionale inefficiente e profonde fratture territoriali. Il risultato è un Paese che ha progressivamente perso terreno rispetto alle principali economie avanzate.

Con uno sguardo lucido e accessibile, Fotografia di un declino non è solo un’analisi, ma un invito a comprendere i meccanismi profondi che determinano crescita e benessere. Perché senza consapevolezza dei problemi, non può esistere una via d’uscita.

Portrait of a Decline (English version)

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Why has Italy’s growth slowed so dramatically?

Why have wages stagnated and young people emigrate?

This book tackles one of the most pressing issues of our time: Italy’s long-term economic decline.

Drawing on data, evidence, and rigorous analysis, the authors cut through myths and misconceptions to uncover the true drivers of stagnation: a shrinking and aging population, decades of weak productivity, institutional inefficiencies, and deep regional divides. The result is a country that has steadily fallen behind other advanced economies.

Clear and compelling, Portrait of a Decline is not just an analysis—it is a call to understand the fundamental forces shaping growth and prosperity. Because without a clear diagnosis, there can be no solution.

The Research Handbook on Inflation  is out!!

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The Handbook brings together an impressive number of 29 chapters, offering a comprehensive review of the theoretical and empirical literature on inflation, and covering nearly all the topics we deemed essential: theoretical and empirical literature on measuring inflation, inflation dynamics, price setting at the micro level, inflation expectations, the global nature of inflation, forecasting inflation, and the practice of conducting monetary policy in central banks.

💡 We’re particularly proud of the contributions from central banks around the world, who shared insights on inflation dynamics and policy responses—especially in the context of recent events.

👥 The Handbook features work from top researchers in the field (see list below). We're deeply grateful to all contributors for their dedication, patience, and high-quality work. This volume reflects their expertise and generosity, and it is largely their accomplishment. We cannot thank them enough.

🙏 A special thank you to Jason Furman, Jordi Galí, Yuriy Gorodnichenko, and Stephanie Schmitt-Grohé for their generous endorsements.

We hope this Handbook becomes a valuable resource for scholars, policymakers, practitioners, and students alike.

List of contributors: Klaus Adam, Martin Almuzara, Carlo Altavilla, Gianni Amisano, Boragan Aruoba, Raphael Auer, Francesco Bianchi, Carola Binder, Günter Coenen, Roberta Colavecchio, James Costain, Luca Dedola, Alan Detmeister, Jess Eagel, Andrew Figura, Salomé Fonana, Luca Fornaro, Renee Fry-McKibbin, Francesco Furlanetto, Erwan Gautier, Thomas Hasenzagl, Klodiana Istrefi, Sohei Kaihatsu, Mikael Khan, Lutz Kilian, Edward Knowtek, David Lebow, Carlos Lenz, Antoine Lepetit, Simon Lloyd, Shaowen Luo, Kazuhiro Masaki, Brett Matsumoto, Falk Mazelis, John McDermott, Michael McMahon, Leonardo Melosi, Roberto Motto, Anton A. Nakov, Chiara Osbat, Paula Patzelt, Mathieu Pedemonte, Filippo Pellegrino, Ekaterina Peneva, Huw Pill, Galina Potjagailo, Lucrezia Reichlin, Ricardo Reis, Giovanni Ricco, Anukka Ristiniemi, Anna Rogantini Picco, Federica Romei, Laura Rosner-Warburton, Barbara Rossi, Massimo Rostagno, Jane Ryngaert, Sergio Santoro, Argia Sbordone, Raphael Schoenle, Omair Sharif,  Frank Smets, Anya Stockburger, Georg Strasser, Yu Sugioka, Kosuke Takatomi, Riccardo Trezzi, Daniel Villar, Anders Warne, Henning Weber, Raf Wouters, Hiroki Yamamoto, Saeed Zaman, Attilio Zanetti, Xiaoqing Zhou