Alessandra, Del Boca; Michele, Fratianni; Franco, Spinelli - In: Economia politica (2012) 1, pp. 19-44
The theme of this paper is whether there was a textbook-like inflation-output tradeoff in post-WWII Italy. We estimate both standard and time-varying parameter models of the relationship between inflation and the level of real economic activity over the 1949 to 2010 period and find no evidence...