Scenario

Nomisma’s situation report by Sergio De Nardis, Chief Economist of Nomisma

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“Scenario” is an in-depth analysis that Nomisma plans to publish on a monthly basis, providing a “sense of context” for the changes in the macroeconomic framework and for the effects of economic policy choices at both national and international levels, useful to professionals as well as those involved in governance.

Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it.   We conclude this series of scenarios in a phase that is more favorable than the one in which it was started (November 2013). The change…
 De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it.   The European recovery is uneven. In many economies the output gap, that is the gap between aggregate demand and production potential, will continue to be negative…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. Exporting is good, importing is an inevitable evil. This is the approach currently in force in Europe which is struggling with widespread unemployment and constraints…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. The Europe that is starting its recovery still appears to be unbalanced internally. The adjustments in the deficit countries were not accompanied by movements toward…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. A recovery has been announced. It needs to be faster than the estimates in circulation in order to repair the damage left by the recession.…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. Is the collapse of oil good news? It comes at a time when Italy and the European economies need more, not less, inflation. Monetary policy…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. Once again we refer to Bob Dylan in talking about the euro: is it true love that Germany has for the single currency or only…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. The new national accounts provide an image of manufacturing that is somewhat different from that which was known. A sector that is smaller compared to…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. Sectoral specialisation of Italian industry is the result of a selection process driven by global competition: it reflects  real comparative advantages of a technological nature.…
Sergio De Nardis, Chief Economist This email address is being protected from spambots. You need JavaScript enabled to view it. The year 2014 has not been a period of recovery for the Italian economy, as had been forecasted, but rather the third year of recession.…
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