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Giuseppe Bertola

Giuseppe Bertola is Professor of Economics at the University of Turin and Scientific Coordinator at Finance and Consumption, European University Institute, Florence.

Titles by This Editor

Academic research and policy discussions of credit markets usually focus on borrowing by firms and producers rather than by households, which are typically analyzed in terms of their savings and portfolio choices. The Economics of Consumer Credit brings together leading international researchers to focus specifically on consumer debt, presenting current empirical and theoretical research crucial to ongoing policy debates on such topics as privacy rules, the regulation of contractual responsibilities, financial stability, and overindebtedness.The rapidly developing consumer credit industry in the United States is mirrored by that in Europe, and this volume is noteworthy for its cross-national perspective. Several chapters compare the use of credit markets by households in different countries, while others focus on single country case studies--including consumer credit dynamics in Italy, the role of housing expenditure in the cyclical pattern of borrowing in the United Kingdom, and the use of credit cards by U.S. consumers--to illustrate general insights. Other chapters draw policy lessons from the U.S. experience with bankruptcy regulation and the development of the credit counseling industry. Finally, the book reviews historical, theoretical, and empirical aspects of information sharing, of particular interest in light of the integration of European Union credit markets.Contributors:Carol C. Bertaut, Giuseppe Bertola, Sarah Bridges, Luca Casolaro, Jonathan Crook, Richard Disney, Leonardo Gambacorta, Charles Grant, Luigi Guiso, Michael Haliassos, Andrew Henley, Robert M. Hunt, Tullio Jappelli, Nicola Jentzsch, Marco Pagano, Amparo San José Riestra, Michael Staten, Michelle J. White

A Study for the Fondazione Rdolofo Debenedetti

Over the last twenty years, fifteen Western European nations have removed most barriers to trade and migration, as well as most forms of national discrimination in economic and social exchange. Some have also given up their national currency and their ability to conduct independent monetary and fiscal policy. Opinion on the future of structural reform in the European Union tends to fall into two camps. One side argues that the single market and monetary union will make it more difficult to carry out badly needed structural reforms. The other side contends that, as monetary policy is decided elsewhere, countries will have more resources to concentrate on structural concerns.

Welfare and Employment in a United Europe takes a nuanced approach to the issues. Unusual for an edited volume, it consists of two long studies—each written by a group of economists working in four different countries of the European Union—followed by commentary. The first study suggests that social reform can be achieved without strengthening European Union institutions and should entail limited international redistribution. The second suggests that, although liberalization of product and labor markets offers substantial benefits, there is no guarantee that the European Monetary Union will result in fewer product market restrictions or less employment protection.

Contributors:
Charles Bean, Giuseppe Bertola, Olivier Blanchard, Tito Boeri, Gøsta Esping-Andersen, Robert Haffner, Juan Jimeno, Ramon Marimon, Steve Nickell, Giuseppe Nicoletti, Christopher Pissarides, André Sapir, Stefano Scarpetta, Gylfi Zoega.