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FEDERICO CAFFÈ: the man, the teaching and the intellectual path

Author

Listed:
  • Nicola Acocella

    (Department of Methods and Models for Economics, Territory and Finance MEMOTEF, Sapienza University of Rome (Italy))

  • Mario Tiberi

    (Department of Economics and Law - Sapienza University of Roma (Italy))

Abstract

The paper sketches some features of Caffè’s contribution to the construction, diffusion and applications of economic policy as a discipline, in addition to his personal traits and his qualities as a teacher. Not only was he one of the main proponents in Italy of the study of welfare economics as the ‘logic’ of economic policy as well as of the 'theory' of economic policy and compounded them into a consistent set of propositions for guiding public action. He also gave important contributions on the proper functioning of international institutions and suggested an idea of economic policy in strategic terms, as the interaction of different social subjects (the Government together with big firms and trade unions). This idea of economic policy as the outcome of such an interaction was later to become the ordinary way of dealing with policy action. More recently, it has been developed to become the core of the new theory of economic policy, exempt from Lucas critiques.

Suggested Citation

  • Nicola Acocella & Mario Tiberi, "undated". "FEDERICO CAFFÈ: the man, the teaching and the intellectual path," Working Papers 125/14, Sapienza University of Rome, Metodi e Modelli per l'Economia, il Territorio e la Finanza MEMOTEF.
    • Handle: RePEc:rsq:wpaper:25/14
    as

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    File URL: https://web.uniroma1.it/memotef/sites/default/files/wpapers/documenti/FullTextWP125.pdf
    File Function: 2014
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    More about this item

    Keywords

    Economic policy; Welfare economics; International institutions; Lucas critique;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D60 - Microeconomics - - Welfare Economics - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions

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