This paper provides an overview of full and partial allowance for corporate equity (ACE) tax systems in practice. In the recent past, ACE systems have been used in Austria, Croatia, and Italy. Brazil still applies a variant of such a system and Belgium introduced one this year. This paper...

This paper examines the regional distribution of public employment in Italy and documents two sets of facts. The first is the use of public employment as a subsidy from the North to the less wealthy South. We calculate that about half of the wage bill in the South of Italy can be identified as a...

This paper presents Resilience and Sustainability (RST) contribution agreements finalized with four contributors between April 2023 and September 15, 2023. The concluded agreements provide for contributions in a total amount of about SDR 4.7 billion across the three RST accounts - the loan...

This Selected Issues paper focuses on economic challenges and options for overcoming the demographic drag in Italy. Italy has large catch-up potential to help overcome the demographic drag on output, but fundamental changes are needed to shift from the current suboptimal equilibrium. On numerous...

The 2023 Article IV Consultation highlights that the Italian economy has weathered well the effects of Russia's war in Ukraine, growing by 3.7 percent in 2022. Private consumption rose robustly on recovery in employment, buoyant tourism, and extensive fiscal support of real purchasing power....

Adaptive reuse of cultural heritage can be a valid strategy to recover heritage buildings in a state of abandonment or underuse, as well as to implement the circular economy model in cities and regions, contributing to the achievement of climate objectives, to social cohesion, wellbeing and...