Evidence indicates that the tightening of restrictive policies experienced in Italy after 2010/11 did not lead to fiscal consolidation, while they contributed to increase debt-to-GDP ratio by curbing aggregate demand. Particularly, budget cuts occurred in health and education. On the contrary, we argue that expansionary measures may lower the debt ratio by increasing rea output.

Austerità in Italia: i sacrifici alimentano il debito

Walter Paternesi Meloni
2018

Abstract

Evidence indicates that the tightening of restrictive policies experienced in Italy after 2010/11 did not lead to fiscal consolidation, while they contributed to increase debt-to-GDP ratio by curbing aggregate demand. Particularly, budget cuts occurred in health and education. On the contrary, we argue that expansionary measures may lower the debt ratio by increasing rea output.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11573/1657592
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