dominance regimes. We consider France and Italy as illustrative cases for revising price and debt relationship (1955-2019 and … bound combined with a contemporaneous switch into fiscal easing in France, shared by Italy only after consolidating finances …, deflation and explosive debt paths under monetary dominance. In Italy, a procyclical fiscal policy in downturns due to limited …

. Through both a comparative perspective and an explorative case study of Italy, this paper asks two research questions. Firstly …, it asks who holds government debt in Spain, France, Germany, and Italy. I focus in on Italy to provide, to the author …’s knowledge, the first highly disaggregated view of the holding structure of public debt. Secondly, for Italy I study …