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IGEM-PA: a Variant of the Italian General Equilibrium Model for Policy Analysis

Barbara Annicchiarico (), Claudio Battiati (), Claudio Cesaroni, Fabio Di Dio () and Francesco Felici

No 2, Working Papers from Department of the Treasury, Ministry of the Economy and of Finance

Abstract: This paper extends IGEM, the dynamic general equilibrium model for the Italian economy currently in use at the Italian Department of the Treasury for economic policy analysis. In this new variant of the model the public sector is explicitly modelled as suppliers of goods and services. With this tool in hand we are able to present an in-depth analysis of expenditure-based fiscal multipliers and ameliorate our understanding of the potential macroeconomic effects of several policy interventions,such as those aimed at the rationalization of public spending, at the improvement of the business environment and at fostering productivity of the public administration (PA).

Keywords: Structural Reforms; Dynamic General Equilibrium Model; Italy; Public Administration Fiscal Multipliers; Simulation Analysis (search for similar items in EconPapers)
JEL-codes: E27 E30 E60 (search for similar items in EconPapers)
Pages: 73
Date: 2017-05
New Economics Papers: this item is included in nep-cta, nep-dge, nep-eec and nep-mac
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