​Orsola Costantini

Involvement

Orsola Costantini is Senior Economist at the Institute for New Economic Thinking. An alumna of Ghislieri college, she graduated from the University of Pavia in Italy and in 2013 received her Ph.D. in Economics from the same institution. 

She is associate editor of the International Journal of Political Economy. In 2013 she was awarded an INET research grant for the study of the dynamics of household incomes and finances, and in 2014, her work on the cyclically adjusted budget estimate was awarded a prize by the Italian Association for the History of Political Economy (STOREP). 

Selected publications:

  • “Invented in America: the birth and evolution of the cyclically adjusted budget rules 1933-1961,” History of Political Economy, vol. 50 (1), 83-117 
  • “The Political Economy of the Stability and Growth Pact,” European Journal of Economics and Economic Policies - Intervention, vol. 14 (3), 333-350 
  • “The Cyclically Adjusted Budget: The History and Exegesis of a Fateful Estimate,” INET Working Paper n. 24: https://www.ineteconomics.org/uploads/papers/WP24_Costantini_1.pdf

By this expert

INET Research in a Stressful Year

Article | Feb 23, 2018

In the face of  laissez-faire capitalism at home and resurgent nationalism across the globe, INET offers an innovative look at the causes of—and solutions for—the problems that ail a fissuring world economy.

A Burning Debt. The Influence of Household Debt on Investment, Production and Growth in US.

Paper Conference paper | | Oct 2017

This paper discusses household debt as a long term phenomenon that influences economies beyond crises.1 In other words, rather than look at how household indebtedness can lead to crises, I will focus on its surprising persistence at very high levels, and its interactions along the way with other key variables, such as public policies and spending. The first section describes some stylized facts and the final section explores the macroeconomic consequences.

Experts on Trial: Introduction

Article | Mar 3, 2017

Widespread criticism of elites and their ‘experts ’ raises questions about how economists should perceive their role, and what role societies should give them. We invited four scholars to start an online conversation by sharing their perspectives 

Experts on Trial: A Symposium

Paper Symposium | | Mar 2017

Widespread criticism of elites and their ‘experts ’ raises questions about how economists should perceive their role, and what role societies should give them. We invited four scholars to start an online conversation by sharing their perspectives 

Featuring this expert

In EU budget debates, ‘technocratic’ veil hides political choices

Article Apr 8, 2016

As the European Union Commission readies itself for a new round of budgetary recommendations, INET senior economist Orsola Costantini warns that that the debate over how those harsh fiscal constraints are to be determined is based on a formula that masks political choices as technocratic imperatives.

The Sneaky Way Austerity Got Sold to the Public Like Snake Oil

Article | Dec 22, 2015

A budget approach cloaked in the aura of science and technical jargon became a tool of manipulation.