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Gianni Toniolo

Research Professor Emeritus of Economics
Economics
Box 90097, Durham, NC 27708-0097
419 Chapel Drive, Soc SC Build 213, Durham, NC 27708

Selected Publications


The emergence of Modern Central Banking from 1918 to the present

Book · December 5, 2016 The twentieth century has seen the rise of modern central banking. At its close, it is also witnessing the first steps in the decline of the role of some of the most famous of these institutions. In this volume, some of the world's best known specialists e ... Full text Cite

An economic history of liberal Italy 1850-1918

Book · January 1, 2014 This book, first published in 1990, examines Italy’s economic history from its Unification in 1850 to the end of the First World War. Particular attention is paid to the extent to which Italy exhibits the features of Kaznets’s model of ‘modern economic gro ... Full text Cite

The Oxford Handbook of the Italian Economy Since Unification

Book · 2013 This Oxford Handbook provides a fresh overall view and interpretation of the modern economic growth of one of the largest European countries, whose economic history is less known internationally than that of other comparably large and successful economie ... Cite

'Les Trente Glorieuses': From the Marshall Plan to the Oil Crisis

Chapter · September 18, 2012 The French economist Jean Fourastié called them 'les trente glorieuses'. The Germans and the Italians coined the words Wirtschaft swunder and miracolo economico, respectively. No matter how the thirty-odd years after the end of World War II were characteri ... Full text Cite

Foreword

Book · June 25, 2012 Cite

Central banks' independence in historical perspective

Book · June 25, 2012 Modern central banks came of age in the inter-war period. By then, they valued their independence as an essential feature of central banking. Strong, Norman and Moreau were ready to stand by the freedom of their institutions at any price. And independence ... Cite

Exchange Rate Regimes and Reserve Policy: The Italian Lira, 1883-1911

Journal Article Open Economies Review · April 1, 2012 The three exchange rate regimes adopted by Italy from 1883 up to the eve of World War I - the gold standard (1883-1893), floating rates (1894-1902), and "gold shadowing" (1903-1911)-produced a puzzling result: formal adherence to the gold standard ended in ... Full text Cite

Lessons from Italy's Monetary Unification (1862-1880) for the Euro and Europe's Single Market

Conference · January 31, 2012 This chapter examines the effects of monetary unification on market integration. It offers a new perspective on the Euro's likely effectiveness in achieving the 'Single Market' goal of European economic integration, by examining the impact of a nineteenth- ... Full text Cite

Exchange Rate Regimes and Reserve Policy on the Periphery: The Italian Lira 1883-1911

Scholarly Edition · 2009 The three exchange rate regimes adopted by Italy from 1883 up to the eve of World War I — the gold standard (1883-1893), floating rates (1894-1902), and “gold shadowing” (1903-1911) — produced a puzzling result: formal adherence to the gold standard ended ... Cite

The world economy between the world wars

Book · May 1, 2008 This book surveys the main events in the international economy from the outbreak of the First World War to the end of the Second World War: a period of time variously defined as the "globalization backlash", the "Second Thirty Years War", or simply "the Wo ... Full text Cite

One hundred and thirty years of central bank cooperation: A BIS perspective

Scholarly Edition · January 1, 2008 INTRODUCTION: The idea that an “international bank” would facilitate central bank cooperation dates back to the late nineteenth century (Toniolo 2005: 20–23). It was officially revived in the immediate postwar period, particularly at the 1922 Genoa economi ... Full text Cite

The past and future of central bank cooperation

Book · January 1, 2008 This book explores the past and future of central bank cooperation. In today’s global economy, the cooperation between central banks is a key element in maintaining or restoring monetary and financial stability, thereby ensuring a smooth functioning of the ... Full text Cite

Italian Children at Work, 1881-1961

Journal Article · November 2007 This paper quantifies the extent and the main characteristics of child work in Italy during the years 1881-1961. From population censuses, we created a new database of the economically active population aged 10-14 by gender, region, and economic sector. We ... Cite

“Italian Children at Work”

Journal Article Il Giornale degli Economisti e Annali d’Economia, · 2007 Cite

The Italian economy from the unity to the Great War.

Journal Article JOURNAL OF MODERN ITALIAN STUDIES · 2007 Cite

The global economy in the 1990s: A long-run perspective

Book · January 1, 2006 The 1990s were an extraordinary, contradictory, and fascinating period of economic development. Specifically, the ‘boom’ of the 1990s and the way that it ended evoked many historical precedents, particularly, past bubbles and ‘busts’. In this book, contrib ... Full text Cite

Understanding the 1990s: A long-run perspective

Chapter · January 1, 2006 Introduction: The twentieth century both opened and closed with a bang: The belle epoque before 1914 and the “roaring nineties” (Stiglitz, 2003) just past. It was only after the First World War that people looked back at the 1895-1914 period with nostalgia ... Full text Cite

“La storia economica dell’Italia liberale: una rivoluzione in atto”

Journal Article Rivista di Storia Economica · December 2004 Cite

Laudatio patritii: Patrick O’brien and European economic history

Chapter · January 1, 2004 A tradition going back to the Middle Ages prescribes that symposia celebrating a distinguished scholar end with the latter’s laudatio. It is for me both an honour and a pleasure to perform this task. My friendship with Patrick dates back to 1977 when he in ... Full text Cite

Monetary Union, institutions and financial market integration: Italy, 1862-1905

Journal Article Explorations in Economic History · January 1, 2003 Years into the single currency, EMU financial markets are not fully integrated. We argue that the phenomenon can be better understood by looking at financial markets' behavior in the wake of Italy's monetary unification (1862). Variables such as the spread ... Full text Cite

Is the Kuznets curve still alive? Evidence from Italian household budgets, 1881-1961

Journal Article Journal of Economic History · January 1, 2001 We investigate secular changes in the distribution of personal expenditure in Italy. To this end we present a new data set, consisting of 4,370 family-level budgets scattered over the years 1881-1961. Our methodology is innovative for this kind of study. I ... Full text Cite

"The Assessment: The Twentieth Century - Achievements, Failures, Lessons"

Journal Article Oxford Review of Economic Policy · December 1999 Cite

The assessment: The twentieth century - achievements, failures, lessons

Journal Article Oxford Review of Economic Policy · December 1, 1999 The past century saw unprecedented rises in life expectancy and living standards. It also witnessed major structural changes, the rise of 'big government' and two globalizations. Yet, the century's economic history was marred by policy and market failures ... Cite

Europe’s golden age, 1950-73: speculations from a long-run perspective

Journal Article The Economic History Review · 1998 Cite

Europe's golden age, 1950-1973: Speculations from a long-run perspective

Journal Article Economic History Review · January 1, 1998 Full text Cite

Economic growth in Europe since 1945

Journal Article Economic growth in Europe since 1945 · January 1, 1996 This volume re-examines the topic of economic growth in Europe after WWII. Specialist contributors provide new theoretical approaches to the subject, utilising the experience of the 1980s. The analysis is largely based on applied economics and economic his ... Cite

Economic growth in Europe since 1945

Journal Article Economic growth in Europe since 1945 · January 1, 1996 This volume re-examines the topic of economic growth in Europe after WWII. Specialist contributors provide new theoretical approaches to the subject, utilising the experience of the 1980s. The analysis is largely based on applied economics and economic his ... Cite

Three shocks, Two Recoveries? Historical Parallels for the end of the cold War

Journal Article Rivista di Storia Economica, 2nd Series · 1994 Cite

Catching up or falling behind? Italy's economic growth, 1895‐1947

Journal Article The Economic History Review · January 1, 1992 Full text Cite

Reconsidering Japanese deflation during the 1920s

Journal Article Explorations in Economic History · January 1, 1992 This paper takes issue with a mainstream view according to which the alleged poor performance of the Japanese economy during the 1920s was the result of the deflationary macroeconomic policies: such policies were repeatedly announced but not implemented un ... Full text Cite

Deflation reconsidered: Japan in the 1920s

Journal Article European Economic Review · January 1, 1990 The paper takes issue with a mainstream view according to which the alleged poor performance of the Japanese economy during the 1920s was the result of deflationary macroeconomic policies. There is evidence that government spending was moderately on the de ... Full text Cite

Industry and Finance in Italy 1918-1940

Journal Article The Journal of European Economic History · 1984 Cite

The New Scale of the City

Journal Article Architectural Review · May 1981 Cite

Effective Protection and Industrial Growth: The Case of Italian Engineering (1898-1913)

Journal Article The Journal of European Economic History · 1977 Cite

Prima fase dello smobilizzo pubblico delle 'banche miste'

Journal Article Economia Pubblica · 1977 Cite

Cento anni di economia portuale a Venezia

Journal Article Co.S.E.S. Informazioni · 1977 Cite

Lo sviluppo industriale italiano tra le due guerre

Journal Article Quaderni Storici · 1975 Cite

Alcune considerazioni sull'uso della teoria nella storia economica

Journal Article Annali della Fondazione Einaudi · 1974 Cite

Le fasi dell'industrializzazione italiana e la crisi del 1971-72

Journal Article Rivista internazionale di Scienze Economiche e Commerciali · 1972 Cite