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Assessing Policy Reforms for Italy Using ITEM and QUEST III

Barbara Annicchiarico (), Fabio Di Dio (), Francesco Felici () and Francesco Nucci ()
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Francesco Felici: Italian Ministry of Economy and Finance - Department of the Treasury, Rome

Rivista di Politica Economica, 2014, issue 3, 211-244

Abstract: This paper assesses the implications of policy reforms for the Italian economy by jointly using the Italian Treasury Econometric Model (ITEM) and QUEST III, the endogenous growth dynamic general equilibrium model of the European Commission in the version calibrated for Italy. The structural characteristics of the two models and the results of simulations are analyzed by using an array of shocks commonly examined in the evaluation of reforms. We conclude that the joint consideration of the two models can improve our understanding of how the assessment of policy interventions is likely to be affected by the uncertainty surrounding model-based evaluation.

Keywords: economic modelling; DGE; structural reforms; Italy. (search for similar items in EconPapers)
JEL-codes: C50 E10 E60 (search for similar items in EconPapers)
Date: 2014
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Working Paper: Assessing policy reforms for Italy using ITEM and QUESTIII (2013) Downloads
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