Inflation and Monetary Policy in Italy: Some Recent Evidence

Eugenio Gaiotti, A. Gavosto and Giuseppe Grande

Working Papers from Banca Italia - Servizio di Studi

Abstract: The empirical literature on the transmission of monetary policy to inflation in Italy has stressed the importance of the exchange rate and, to some extent, of the demand channel; recently, the roles of inflation expectations and the fiscal situation have been emphasized. This paper uses vector auto-regression to address this issue. The results suggest that inflation expectations do matter as determinants of inflation, along with the exchange rate and demand.

Keywords: INFLATION; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
Pages: 46 pages
Date: 1997
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:fth:banita:310

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