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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
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...
Persistent link: https://www.econbiz.de/10011277938
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Fiscal policy and growth
Franco, Daniele; Marino, Maria Rosaria; Tommasino, Pietro - Banca d'Italia - 2012
from 29 to 31 March 2012. The workshop focused on the interaction between fiscal policy and growth and was organised in … relationship between government budgets and potential growth. The third session analysed the effects of taxation, regulation and … public services on growth. The last session concentrated on policies aimed at promoting sustainable growth. …
Persistent link: https://www.econbiz.de/10011277928
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Just round the corner? Pros, cons, and implementation issues of a fiscal union for the euro area
Balassone, Fabrizio; Momigliano, Sandro; Romanelli, Marzia - Banca d'Italia - 2014
The experience of other successful monetary unions and economic theory suggest that the euro area would benefit from the establishment of a supranational fiscal capacity. Institutional reforms prompted by the crisis (e.g., the European Stability Mechanism and the banking union) are introducing...
Persistent link: https://www.econbiz.de/10011105103
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Rules and institutions for sound fiscal policy after the crisis
Franco, Daniele - Banca d'Italia - 2012
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,...
Persistent link: https://www.econbiz.de/10011277930
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The effects of fiscal shocks with debt-stabilizing budgetary policies in Italy
Caprioli, Francesco; Momigliano, Sandro - Banca d'Italia - 2011
We study the effects of fiscal policy on macroeconomic developments in Italy over the period 1982-2010 with a Structural Vector Autoregression (SVAR) model. We include public debt and impose the government budget constraint in the estimation. In contrast with previous research we also include...
Persistent link: https://www.econbiz.de/10009386396
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The effetcs of fiscal policy in Italy: Evidence from a VAR model
Giordano, Raffaela; Momigliano, Sandro; Neri, Stefano; … - Banca d'Italia - 2008
the low persistence of the shock. The effects on employment, private consumption and investment are also positive. The …
Persistent link: https://www.econbiz.de/10005111574
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Consumption and fiscal policies: medium-run non-Keynesian effects
Rodano, Giorgio; Saltari, Enrico - Banca d'Italia - 2001
In this paper we study the effects of fiscal policies on current consumption, distinguishing between Keynesian effects (KE), due to changes in current disposable income, and non-Keynesian effects (NE), due to expected changes in future disposable income. The literature has argued that permanent...
Persistent link: https://www.econbiz.de/10005113559
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Signaling Fiscal Regime Sustainability
Drudi, Francesco; Prati, Alessandro - Banca d'Italia - 1998
This paper proposes a signaling model of fiscal stabilizations that offers a new perspective on why governments deviate from optimal tax smoothing. In our model, dependable - but not fully credible - governments have an incentive to tighten the fiscal regime when the signaling effect on credit...
Persistent link: https://www.econbiz.de/10005113576
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Signaling Fiscal Regime Sustainability.
Drudi, F.; Prati, A. - Banca d'Italia - 1998
This paper proposes a signaling model of fiscal stabilizations that offers a new perspective on why governments deviate from optimal tax smoothing. In our model, dependable -but not fully credible- governments have an incentive to tighten the fiscal regime when the signaling effect on credit...
Persistent link: https://www.econbiz.de/10005486708
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Fiscal Consolidations Under Fixed Exchange Rates.
Caselli, P. - Banca d'Italia - 1998
We present the "fixed exchange rate" version of the Obstfeld and Rogoff model analyze the international transmission of fiscal policy shocks. It is shown that the welfare effects of an unanticipated contraction in government expenditure in the home country crucially depend on the way in which...
Persistent link: https://www.econbiz.de/10005640913