In this address to the Accademia dei Lincei, the author discusses the development of Modigliani's thinking, with special reference to the themes of money, monetary policy and economic policy in general, the main aspects of which were an integral part of the Bank of Italy's first econometric...

The article analyses the conduct of monetary policy in Italy between 1947 and 1978, with special emphasis on its impact on prices, the business cycle and the balance of payments. It contrasts the stabilization policies of 1947-1948 with the control of interest rates and monetary aggregates in...