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What Caused the Asian Currency and Financial Crisis?
Corsetti, Giancarlo; Pesenti, Paolo; Roubini, Nouriel - Banca d'Italia - 1998
current account imbalances, quantity and quality of financial ‘overlending’, banking problems, and the composition, maturity …
Persistent link: https://www.econbiz.de/10005111544
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What Caused the Asian Currency and Financial Crisis?.
Corsetti, G.; Pesenti, P.; Roubini, N. - Banca d'Italia - 1998
The paper examines the view that the Asian currency and financial crisis in 1997 and 1998 reflected structural and policy distortions in the countries of the region, even though market overreaction and herding caused the plunge of exchange rates, asset prices and economic activity to be more...
Persistent link: https://www.econbiz.de/10005640918
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Le rimesse dei lavoratori emigrati e le crisi di conto corrente
Bugamelli, Matteo; Francesco Patern� - Banca d'Italia - 2006
debt (over GDP) and the probability of reversals. Our results point also to a threshold effect of remittances; the …
Persistent link: https://www.econbiz.de/10005113628
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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
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 interaction between fiscal policy and macroeconomic imbalances. The … second session dealt with the specific problems of the euro area, where insufficient attention to macroeconomic developments …
Persistent link: https://www.econbiz.de/10011277938
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Emu Fiscal Rules: is There a Gap?.
Balassone, F.; Manacelli, D. - Banca d'Italia - 2000
The Stability and Growth Pact sets a medium-term target for fiscal policy of a budgetary position "close to balance of in surplus". This addition to the deficit rule defined by the Maastricht Treaty has been interpreted as an attempt to reconcile the objective of sound public finances with the...
Persistent link: https://www.econbiz.de/10005640903
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Determinants of TARGET2 imbalances
Cecioni, Martina; Ferrero, Giuseppe - Banca d'Italia - 2012
The paper analyzes developments in TARGET2 imbalances within the euro area since 2007, from two perspectives: national … accounts for the growing TARGET2 imbalances: (i) current account deficit, (ii) decrease of net inflows of private capital from …
Persistent link: https://www.econbiz.de/10011100341
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Europe 2020 and national reforms: economic governance and structural reforms
Sestito, Paolo; Torrini, Roberto - Banca d'Italia - 2012
Structural reforms are stressed in Europe 2020 as a tool for boosting economic growth and improving social cohesion. Yet tensions often arises between country specificities and goals, on one side, and pressures by partners and EU wide goals on the other side. The paper discusses the European...
Persistent link: https://www.econbiz.de/10011100400
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Oil and the macroeconomy: a quantitative structural analysis
Lippi, Francesco; Nobili, Andrea - Banca d'Italia - 2009
We consider an economy in which the oil costs, industrial production, and other macroeconomic variables fluctuate in response to fundamental domestic and external demand and supply shocks. We estimate the effects of these structural shocks on US monthly data for the 1973.1-2007.12 period using...
Persistent link: https://www.econbiz.de/10005467314
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Macroeconomics of international price discrimination
Corsetti, Giancarlo; Dedola, Luca - Banca d'Italia - 2002
This paper builds a baseline two-country model of real and monetary transmission in the presence of optimal international price discrimination by firms. Distributing traded goods to consumers requires nontradables, intensive in local labor. Because of distributive trade the price elasticity of...
Persistent link: https://www.econbiz.de/10005113668
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A quantitative analysis of the mechanisms for adjustment of the external deficit of the United States
Paterno', Francesco - Banca d'Italia - 2005
This work attempts to quantify the size of the adjustment of the United States external imbalance which can arise from a depreciation of the dollar, an adjustment of the Government�s budget in the United States and an acceleration of the technological process in other main advanced...
Persistent link: https://www.econbiz.de/10005111572