The dynamics of Italian public debt: alternative paths for fiscal consolidation
Paolo Casadio,
Antonio Paradiso () and
B. Rao
Applied Economics Letters, 2012, vol. 19, issue 7, 635-639
Abstract:
This article analyses possible targets for the Italian debt-to-GDP ratio with a small macroeconomic model. The role of international macroeconomic variables such as the US GDP growth, prices of raw materials, EUR/USD exchange rate and European Central Bank (ECB) monetary policy stance and domestic policy instruments is analysed in the debt dynamics. We find that external conditions play a fundamental role for the Italian fiscal consolidation. To reach a target of 100% of debt-to-GDP ratio by 2020, a further growth-sustaining policy has to be implemented.
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:19:y:2012:i:7:p:635-639
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DOI: 10.1080/13504851.2011.591726
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