By using an original dataset, this paper analyzes the sustainability of Italy's current accounts over the years 1861-2010. We find empirical support to sustainability: the Italian economy used external deficits (surpluses) to smooth aggregate consumption. Persistent current account deficits from 1861 to WW1 seem to have been used to prompt the nation's productivity and economic efficiency and so they do not seem to have undermined the nation's intertemporal solvency.
A note on Italy's current account sustainability: 1861-2010 / Rinaldi, Alberto; Pistoresi, Barbara. - In: ECONOMICS BULLETIN. - ISSN 1545-2921. - ELETTRONICO. - 34:2(2014), pp. 1197-1204.
A note on Italy's current account sustainability: 1861-2010
RINALDI, Alberto;PISTORESI, Barbara
2014
Abstract
By using an original dataset, this paper analyzes the sustainability of Italy's current accounts over the years 1861-2010. We find empirical support to sustainability: the Italian economy used external deficits (surpluses) to smooth aggregate consumption. Persistent current account deficits from 1861 to WW1 seem to have been used to prompt the nation's productivity and economic efficiency and so they do not seem to have undermined the nation's intertemporal solvency.
| File | Dimensione | Formato | |
|---|---|---|---|
|
EB-14-V34-I2-P110.pdf
Open access
Descrizione: Full text post print
Tipologia:
Versione pubblicata dall'editore
Dimensione
269.02 kB
Formato
Adobe PDF
|
269.02 kB | Adobe PDF | Visualizza/Apri |
Pubblicazioni consigliate
I metadati presenti in IRIS UNIMORE sono rilasciati con licenza Creative Commons CC0 1.0 Universal, mentre i file delle pubblicazioni sono rilasciati con licenza Attribuzione 4.0 Internazionale (CC BY 4.0), salvo diversa indicazione.
In caso di violazione di copyright, contattare Supporto Iris
