The volume collects the essays presented at the 14th Workshop on Public Finance organised by Banca d'Italia in Perugia from 29 to 31 March 2012. The workshop focused on the interaction between fiscal policy and growth and was organised in four sessions. The first session dealt with the...

The volume collects the essays presented at the 13th Workshop on Public Finance organised by Banca d'Italia in Perugia on 31 March-2 April 2011. The workshop concentrated on the measures aimed at guaranteeing sustainable budget policies in the aftermath of the global crisis started in 2008,...

The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...

The announcement of a plan to cut the U.S. federal budget deficit through the Gramm-Rudman-Hollings legislation provides an excellent opportunity to examine the influence of expectations on economic behavior. This paper presents a small forward-looking macroeconomic model and simulates the...

Both the OECD and the IMF periodically estimate and publish measures of fiscal impulse to gauge the extent to which fiscal policy in the major industrial countries has become more or less expansive over time. This paper compares these measures analytically and numerically. The paper shows that...

This paper reviews empirical evidence about the effects of changes in U.S. monetary policy and fiscal policy that has been accumulated during recent years in a series of collaborative research projects involving a variety of global macroeconometric models. The paper also considers, in...

Coordination of macroeconomic policy has been a major topic at recent summit meetings, and has been the subject of a number of theoretical studies. However, relatively little empirical research exists on policy coordination. This paper is an attempt to help fill this gap. The paper considers the...