Disinflation and re-inflation in Italy and the implications for transition to monetary union
This paper presents a detailed discussion of inflation in Italy during the 1980s. The early 1980s witnessed disinflation but in the second-half inflation has re-emerged. The paper is relevant to the EMS debate, between the ‘monetarists’ (advocating immediate and irreversible fixity of exchange rates...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Associazione Economia civile
2013-10-01
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| Series: | PSL Quarterly Review |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10649 |
| _version_ | 1811172472881414144 |
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| author | S. DE NARDIS S. MICOSSI |
| author_facet | S. DE NARDIS S. MICOSSI |
| author_sort | S. DE NARDIS |
| collection | DOAJ |
| description | This paper presents a detailed discussion of inflation in Italy during the 1980s. The early 1980s witnessed disinflation but in the second-half inflation has re-emerged. The paper is relevant to the EMS debate, between the ‘monetarists’ (advocating immediate and irreversible fixity of exchange rates) and the ‘economists’ (warning of systemic rigidities and urging caution). The evidence is mixed: the EMS seems to have been accompanied by a convergence of inflation, but at a cost of stubborn unemployment suggesting that the policy has not been cost-free. Italian data is reviewed in the context of this discussion.
JEL: E32, E42, F15
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| first_indexed | 2024-04-10T17:30:40Z |
| format | Article |
| id | doaj.art-cc92509a02f04201992d2684b03ca5a6 |
| institution | Directory Open Access Journal |
| issn | 2037-3635 2037-3643 |
| language | English |
| last_indexed | 2024-04-10T17:30:40Z |
| publishDate | 2013-10-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | PSL Quarterly Review |
| spelling | doaj.art-cc92509a02f04201992d2684b03ca5a62023-02-03T16:47:01ZengAssociazione Economia civilePSL Quarterly Review2037-36352037-36432013-10-014417710.13133/2037-3643/10649Disinflation and re-inflation in Italy and the implications for transition to monetary unionS. DE NARDISS. MICOSSIThis paper presents a detailed discussion of inflation in Italy during the 1980s. The early 1980s witnessed disinflation but in the second-half inflation has re-emerged. The paper is relevant to the EMS debate, between the ‘monetarists’ (advocating immediate and irreversible fixity of exchange rates) and the ‘economists’ (warning of systemic rigidities and urging caution). The evidence is mixed: the EMS seems to have been accompanied by a convergence of inflation, but at a cost of stubborn unemployment suggesting that the policy has not been cost-free. Italian data is reviewed in the context of this discussion. JEL: E32, E42, F15 https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10649ItalyInflationMonetary union |
| spellingShingle | S. DE NARDIS S. MICOSSI Disinflation and re-inflation in Italy and the implications for transition to monetary union PSL Quarterly Review Italy Inflation Monetary union |
| title | Disinflation and re-inflation in Italy and the implications for transition to monetary union |
| title_full | Disinflation and re-inflation in Italy and the implications for transition to monetary union |
| title_fullStr | Disinflation and re-inflation in Italy and the implications for transition to monetary union |
| title_full_unstemmed | Disinflation and re-inflation in Italy and the implications for transition to monetary union |
| title_short | Disinflation and re-inflation in Italy and the implications for transition to monetary union |
| title_sort | disinflation and re inflation in italy and the implications for transition to monetary union |
| topic | Italy Inflation Monetary union |
| url | https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/10649 |
| work_keys_str_mv | AT sdenardis disinflationandreinflationinitalyandtheimplicationsfortransitiontomonetaryunion AT smicossi disinflationandreinflationinitalyandtheimplicationsfortransitiontomonetaryunion |