The role of the Superbonus in the growth of Italian construction costs

Francesco Corsello () and Valerio Ercolani
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Francesco Corsello: Bank of Italy

No 903, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: This paper examines the role played by a very large fiscal incentive for the renovation of residential buildings, the 'Superbonus', in the growth in construction costs observed in Italy during the post-pandemic period. These costs started to rise in 2021, as the Superbonus became more and more commonly used in building renovations. By estimating an empirical model, we find that about half of the total increase in Italian construction costs between September 2021 and December 2023 can be attributed to the Superbonus.

Keywords: Superbonus; tax incentives; construction costs; time series analysis (search for similar items in EconPapers)
JEL-codes: C5 H2 H3 L74 R3 (search for similar items in EconPapers)
Date: 2024-12
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_903_24

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