Forni, Lorenzo; Gerali, Andrea; Pisani, Massimiliano - Banca d'Italia - 2010
households. The scenarios that we consider envisage a decreases in the public debt to GDP ratio of 10 percentage points in 5 … investment are stable or grow on impact and along the path to the new steady state; finally, spillovers to the rest of the Euro … area are expansionary and sizeable both in the long run and along the transition. …