 The Concluding Remarks of the Governor of the Bank of Italy for the year 1946Luca Einaudi, Riccardo Faucci and Roberto Marchionatti Chapter 11 in Luigi Einaudi, 2006, pp 137-152 from Palgrave Macmillan Abstract: Abstract During his tenure as Governor of the Bank of Italy Einaudi transformed the Annual Report of the Bank into an exercise quite different from a mere description of the activities of the Bank. It became a full account and analysis of economic transformation, and the Final Considerations, read aloud in the presence of all the political and economic establishment of the country, became a permanent occasion for complete reassessments of governmental economic policy by an independent technical body. In 1947, Einaudi described a country emerging defeated from World War, trying to recover confiscated resources and occupied territories, dealing with reconstruction but burdened by debt, deficit and an inflated paper circulation. Einaudi’s analysis of the difficulties of reconstruction and of the growing inflation anticipated a vigorous shift in economic policy. Only a few months later Einaudi introduced, as budget minister, a plan to combat inflation through both a banking restriction and budget cuts, and successfully implemented it. Keywords: Current Account; Foreign Currency; Monetary Unity; Union Leader; Treasury Bill (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52297-8_12 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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