The policy response to macroeconomic and fiscal imbalances in Italy in the last fifteen years

Antonio Bassanetti (), Matteo Bugamelli, Sandro Momigliano, Roberto Sabbatini () and Francesco Zollino ()
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Antonio Bassanetti: Bank of Italy and IMF
Francesco Zollino: Bank of Italy

No 211, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper reviews the main macroeconomic trends and the debate on policy priorities in Italy since the end of the Nineties. In the decade up to the outbreak of the global crisis (1998-2007), in Italy the reform process came to a virtual standstill; this is partly due to the fragmentation of the political constituency, while a variety of favourable contingent factors masked the difficulties of the productive system. Had Italy been better positioned in terms of public finances and structural features in 2007, some of the adverse effects of the global and sovereign crises would have been avoided.

Keywords: EMU; fiscal policy; macroeconomic imbalances; global crisis (search for similar items in EconPapers)
JEL-codes: E6 H3 K0 N1 (search for similar items in EconPapers)
Date: 2013-11
New Economics Papers: this item is included in nep-eec, nep-law and nep-mac
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Related works:
Journal Article: The policy response to macroeconomic and fiscal imbalances in Italy in the last fifteen years (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_211_13

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