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Author : Raffaela Giordano
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 ( download)
Download or read book The Effects of Fiscal Policy in Italy written by Raffaela Giordano and published by . This book was released on 2008 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lorenzo Forni
Publisher : International Monetary Fund
ISBN 13 : 147556998X
Total Pages : 20 pages
Book Rating : 4.4/5 (755 download)
Download or read book Fiscal Rules to Tame the Political Budget Cycle written by Lorenzo Forni and published by International Monetary Fund. This book was released on 2017-01-20 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides evidence that fiscal rules can limit the political budget cycle. It focuses on the application of the Italian fiscal rule at the sub-national level over the period 2004-2006 and shows that: 1) municipalities are subject to political budget cycles in capital spending; 2) the Italian subnational fiscal rule introduced in 1999 has been enforced by the central government; 3) municipalities subject to the fiscal rule show more limited political budget cycles than municipalities not subject to the rule. In order to identify the effect, we rely on the fact that the domestic fiscal rule does not apply to municipalities below 5,000 inhabitants. We find that the political budget cycle increases real capital spending by about 35 percent on average in the years prior to municipal elections and that the sub-national fiscal rule reduces these figures by about two thirds.
Author : Michal Andrle
Publisher : International Monetary Fund
ISBN 13 : 1484348044
Total Pages : 38 pages
Book Rating : 4.4/5 (843 download)
Download or read book Italy: Toward a Growth-Friendly Fiscal Reform written by Michal Andrle and published by International Monetary Fund. This book was released on 2018-03-16 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Published in late 2017, the Italian medium-term fiscal plan aims to achieve structural balance by 2020, although concrete, high-quality measures to meet the target are yet to be specified. This paper seeks to contribute to the discussion by (i) assessing spending patterns to identify areas for savings; (ii) evaluating the pension system; (iii) analyzing the scope for revenue rebalancing; and (iv) putting forward a package of spending cuts and tax rebalancing that is growth friendly and inclusive, could have limited near-term output costs, and would achieve a notable reduction in public debt over the medium term. Such a package could help the authorities balance the need to bring down public debt and, thus, reduce vulnerabilities while supporting the economic recovery.
Author : Davide Assalve
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (134 download)
Download or read book Italy and Fiscal Rules written by Davide Assalve and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Salvatore Dell'Erba
Publisher : International Monetary Fund
ISBN 13 : 148439450X
Total Pages : 44 pages
Book Rating : 4.4/5 (843 download)
Download or read book Does Fiscal Policy Affect Interest Rates? Evidence from a Factor-Augmented Panel written by Mr.Salvatore Dell'Erba and published by International Monetary Fund. This book was released on 2013-07-03 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors. We construct a real-time dataset of macroeconomic and fiscal variables for a panel of OECD countries for the period 1989-2012. We find that two global factors—the global monetary and fiscal policy stances—explain more than 60 percent of the variance in the long-term interest rates. Compared to the estimates from models which do not account for global factors, we find that the importance of domestic variables in explaining long-term interest rates is weakened. Moreover, the propagation of global fiscal shocks is larger in economies characterized by macroeconomic and institutional weaknesses.
Author : Francesco Spinelli
Publisher : Gower Publishing Company, Limited
ISBN 13 :
Total Pages : 136 pages
Book Rating : 4.F/5 ( download)
Download or read book Monetary Policy, Fiscal Policy, and Economic Activity written by Francesco Spinelli and published by Gower Publishing Company, Limited. This book was released on 1983 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 : 148439772X
Total Pages : 71 pages
Book Rating : 4.4/5 (843 download)
Download or read book Italy written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2019-02-06 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2018 Article IV Consultation highlights that Italy has been struggling with low economic growth and poor social outcomes and structural weaknesses have been at the core of this economic underperformance. Growth is projected to slow further, and the risk of recession has risen. The extent to which risks materialize depends largely on Italy’s policies. The authorities felt strongly that a fiscal stimulus is needed to promote economic growth and improve social outcomes. The authorities are also seeking to reduce temporary employment and support job search. The report suggests that faster potential growth is the only durable way for Italy to improve outcomes and enhance resilience. A package of structural reforms, a credible fiscal consolidation based on growth-friendly and inclusive measures, and bank balance sheet strengthening structural reforms, fiscal policy, and financial stability are also recommended. As by facilitating re-alignment of wages with productivity at the firm and regional levels, Italy’s high structural unemployment would fall, as would the continued heavy resort to temporary employment.
Author : Matteo Falagiarda
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (13 download)
Download or read book Fiscal Policy Announcements of Italian Governments and Spread Reaction During the Sovereign Debt Crisis written by Matteo Falagiarda and published by . This book was released on 2014 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to evaluate the effects of fiscal policy announcements by the Italian government on the long-term sovereign bond spread of Italy relative to Germany. After collecting data on relevant fiscal policy announcements, we perform an econometric comparative analysis between the three cabinets that followed one another during the period 2009-2013. The results suggest that only fiscal policy announcements made by members of Monti's cabinet have been effective in influencing the Italian spread, revealing a remarkable credibility gap between Monti's technocratic administration and Berlusconi's and Letta's governments.
Author : European Commission. Directorate-General for Economic and Financial Affairs
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.F/5 ( download)
Download or read book Macroeconomic Imbalances written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2012 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: Revisión de la economía italiana con la intención de identificar presentes o potenciales desequilibrios y los posibles riesgos macroeconómicos que pueden implicar.
Author : G. Bizioli
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (126 download)
Download or read book Italy's Tax and Fiscal Policy Measures at the Time of the COVID-19 Crisis : 'tax Peanuts' Without a New Deal written by G. Bizioli and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this article, the authors offer a critical perspective on the main tax and fiscal policy measures introduced by Italy in response to the coronavirus disease 2019 (COVID-19) crisis. The article shows that the tax and fiscal policy measures enacted thus far by Italy are short-viewed, being narrowly addressed at cushioning the effects of the COVID-19 crisis without a long-term vision of how the tax system can be thoughtfully reshaped. If the current crisis is to be intended both as a challenge and an opportunity, the authors submit that a new deal is needed, including a comprehensive overhaul of the country's tax system.
Author : International Monetary
Publisher : International Monetary Fund
ISBN 13 : 151357308X
Total Pages : 83 pages
Book Rating : 4.5/5 (135 download)
Download or read book Italy: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy written by International Monetary and published by International Monetary Fund. This book was released on 2021-06-02 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pandemic dealt a severe blow to the Italian people and their economy. GDP fell by nearly 9 percent in 2020, with much larger drops for contact-intensive services. Public and corporate debt increased strongly and preexisting vulnerabilities have likely worsened. The government is prioritizing resolving the health emergency and transforming the economy to lift productivity, improve social outcomes and strengthen resilience to future shocks and structural change. The large National Recovery and Resilience Plan—partly financed by sizable Next Generation EU resources—will be used to increase physical and social infrastructure. Outlook. GDP is expected to recover strongly in 2021–22 and to grow well-above trend over the medium term, supported by investment spending. Nonetheless, economic scarring could be sizable. The two-sided risks relate to how the pandemic progresses, the efficiency of investment spending and the extent of savings drawdown, with large costs associated with the downside.
Author :
Publisher :
ISBN 13 : 9789289915953
Total Pages : 30 pages
Book Rating : 4.9/5 (159 download)
Download or read book The Impact of Fiscal Policy Announcements by the Italian Government on the Sovereign Spread written by and published by . This book was released on 2015 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to evaluate the impact of fiscal policy announcements by the Italian government on the long-term sovereign bond spread of Italy relative to Germany. After collecting data on relevant fiscal policy announcements, we perform an econometric comparative analysis between the three administrations that followed one another during the period 2009-2013. The results indicate that only fiscal policy announcements made by members of Monti's cabinet had a significant impact on the Italian spread. We argue that these findings may be partly explained by a credibility gap between Monti's technocratic administration and Berlusconi's and Letta's governments.
Author : Richard Hemming
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author : Mr.Mario I. Bléjer
Publisher : International Monetary Fund
ISBN 13 : 9781557751928
Total Pages : 404 pages
Book Rating : 4.7/5 (519 download)
Download or read book How to Measure the Fiscal Deficit written by Mr.Mario I. Bléjer and published by International Monetary Fund. This book was released on 1991-09-15 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal policy seeks to equilibrate the public sector's financing needs with the private sector's demand for investment and a sustainable balance of payments. Correct measurement of the public sector's net use of resources is therefore an important prerequisite for managing the macroeconomy. This volume, edited by Mario I. Blejer and Adrienne Cheasty, is organized around four issues: the adequacy of summary measures of the fiscal deficit, conventional and adjusted deficits, coverage (size) of the public sector, and the public sector's intertemporal budget constraint.
Author : José M. Magone
Publisher : Routledge
ISBN 13 : 1317628365
Total Pages : 1028 pages
Book Rating : 4.3/5 (176 download)
Download or read book Routledge Handbook of European Politics written by José M. Magone and published by Routledge. This book was released on 2014-12-17 with total page 1028 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Treaty of the European Union was ratified in 1993, the European Union has become an important factor in an ever-increasing number of regimes of pooled sovereignty. This Handbook seeks to present a valuable guide to this new and unique system in the twenty-first century, allowing readers to obtain a better understanding of the emerging multilevel European governance system that links national polities to Europe and the global community. Adopting a pan-European approach, this Handbook brings together the work of leading international academics to cover a wide range of topics such as: the historical and theoretical background the political systems and institutions of both the EU and its individual member nations political parties and party systems political elites civil society and social movements in European politics the political economy of Europe public administration and policy-making external policies of the EU. This is an invaluable and comprehensive resource for students, scholars, researchers and practitioners of the European Union, European politics and comparative politics.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Author : Maurizio Cotta
Publisher : Oxford University Press, USA
ISBN 13 : 0199234205
Total Pages : 552 pages
Book Rating : 4.1/5 (992 download)
Download or read book Democratic Representation in Europe written by Maurizio Cotta and published by Oxford University Press, USA. This book was released on 2007-11-08 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contributes to a better understanding of relations between social and political change, and the importance of institutional factors in shaping the political elites of European democracies. It helps to substantiate theoretical debates in the social and political sciences on issues such as historical institutionalism and path dependency.
