IDEAS home Printed from https://ideas.repec.org/a/kap/openec/v7y1996i4p391-422.html
   My bibliography  Save this article

Disinflation in the Italian economy in an optimal control setting

Author

Listed:
  • Bruno Chiarini

Abstract

In this article we use optimal control techniques and a nonlinear, small-size econometric model of the Italian economy, with the purpose of analyzing the disinflation process that has characterized the Italian economy during the period 1984–1987. Within the optimization framework, we question a wide range of issues of political economy, the role of incomes policy, and nominal anchors in promoting low-cost disinflation. Copyright Kluwer Academic Publishers 1996

Suggested Citation

  • Bruno Chiarini, 1996. "Disinflation in the Italian economy in an optimal control setting," Open Economies Review, Springer, vol. 7(4), pages 391-422, October.
    • Handle: RePEc:kap:openec:v:7:y:1996:i:4:p:391-422
    DOI: 10.1007/BF01886371
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/BF01886371
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/BF01886371?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. repec:cor:louvrp:-800 is not listed on IDEAS
    2. Hughes Hallett, A. J. & Petit, M. L., 1988. "Trade-off reversals in macroeconomic policy," Journal of Economic Dynamics and Control, Elsevier, vol. 12(1), pages 85-91, March.
    3. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173, Decembrie.
    4. Layard, Richard & Nickell, Stephen, 1986. "Unemployment in Britain," Economica, London School of Economics and Political Science, vol. 53(210(S)), pages 121-169, Supplemen.
    5. Ray Barrell, 1990. "Has the EMS changed wage and price behaviour in Europe?," National Institute Economic Review, National Institute of Economic and Social Research, vol. 134(1), pages 64-72, November.
    6. Francesco Giavazzi & Marco Pagano, 1991. "The Advantage of Tying One's Hands: EMS Discipline and Central Bank Credibility," NBER Chapters, in: International Volatility and Economic Growth: The First Ten Years of The International Seminar on Macroeconomics, pages 303-330, National Bureau of Economic Research, Inc.
    7. F. Giavazzi & L. Spaventa, 1989. "Italy: The Real Effects of Inflation and Disinflation," Working Papers 71, Dipartimento Scienze Economiche, Universita' di Bologna.
    8. Chiarini, Bruno, 1993. "Analysis and simulation of a small econometric model of the Italian economy with rational expectations," Economic Modelling, Elsevier, vol. 10(4), pages 348-397, October.
    9. Panattoni, Lorenzo, 1988. "Interactive preference elicitation in macroeconomic decision models," Journal of Economic Dynamics and Control, Elsevier, vol. 12(1), pages 109-116, March.
    10. DREZE, Jacques H. & WYPLOSZ, Charles & BEAN, Charles & GIAVAZZI, Francesco, 1988. "The two-handed growth strategy for Europe: Autonomy through flexible cooperation," LIDAM Reprints CORE 800, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    11. Jacques DRÈZE & Charles WYPLOSZ & Charles BEAN & Francesco GIAVAZZI & Herbert GIERSCH, 1988. "The two-handed groth strategy for Europe: Anatomy through flexible cooperation," Discussion Papers (REL - Recherches Economiques de Louvain) 1988011, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    12. Poole, William, 1988. "Monetary Policy Lessons of Recent Inflation and Disinflation," Journal of Economic Perspectives, American Economic Association, vol. 2(3), pages 73-100, Summer.
    13. Rudiger Dornbusch & Mario Henrique Simonsen, 1987. "Inflation Stabilization with Incomes Policy Support: A Review of the Experience in Argentina, Brazil and Israel," NBER Working Papers 2153, National Bureau of Economic Research, Inc.
    14. Rudiger Dornbusch & Ferico Sturzenegger & Holger Wolf, 1990. "Extreme Inflation: Dynamics and Stabilization," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 21(2), pages 1-84.
    15. van der Ploeg, Rick, 1982. "Government policy, real wage resistance and the resolution of conflict," European Economic Review, Elsevier, vol. 19(2), pages 181-212.
    16. Petit,Maria Luisa, 2009. "Control Theory and Dynamic Games in Economic Policy Analysis," Cambridge Books, Cambridge University Press, number 9780521127158.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Daniel Cardona & Fernando Sánchez-Losada, 2004. "The Unemployment Benefit System: a Redistributive or an Insurance Institution?," DEA Working Papers 8, Universitat de les Illes Balears, Departament d'Economía Aplicada.
    2. Kalwij, Adriaan, 2001. "Individuals' Unemployment Durations over the Business Cycle," IZA Discussion Papers 369, Institute of Labor Economics (IZA).
    3. Jean-Paul Fitoussi & David Jestaz & Edmund S. Phelps & Gylfi Zoega, 2000. "Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 237-311.
    4. Patrick Minford & Ruthira Naraidoo, 2010. "Vicious And Virtuous Circles – The Political Economy Of Unemployment," South African Journal of Economics, Economic Society of South Africa, vol. 78(1), pages 1-22, March.
    5. Smith, Jennifer C., 1996. "Bargaining power and local labour market in°uences on wage determination," Economic Research Papers 268704, University of Warwick - Department of Economics.
    6. M. Isabel García Gracia, 1995. "El SME: un modelo de comportamiento asimétrico," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 3, pages 41-68, Junio.
    7. Mohammad Hashem Pesaran & Yongcheol Shin & Richard J Smith, 1999. "Bounds Testing Approaches to the Analysis of Long Run Relationships," Edinburgh School of Economics Discussion Paper Series 46, Edinburgh School of Economics, University of Edinburgh.
    8. Emilian Dobrescu, 2006. "Integration of Macroeconomic Behavioural Relationships and the Input-output Block (Romanian Modelling Experience)," EcoMod2006 272100018, EcoMod.
    9. Jorge Lopez Tamayo & Jordi Surinach Caralt, 1999. "El desempleo espanol: factores estructurales," Working Papers in Economics 53, Universitat de Barcelona. Espai de Recerca en Economia.
    10. Albert van der Horst, 2003. "Structural estimates of equilibrium unemployment in six OECD economies," CPB Discussion Paper 19, CPB Netherlands Bureau for Economic Policy Analysis.
    11. Nicholas Sarantis & Chris Stewart, 2000. "The ERM Effect, Conflict and Inflation in the European Union," International Review of Applied Economics, Taylor & Francis Journals, vol. 14(1), pages 25-43.
    12. Junankar, Pramod N. (Raja) & Madsen, Jakob B., 2004. "Unemployment in the OECD: Models and Mysteries," IZA Discussion Papers 1168, Institute of Labor Economics (IZA).
    13. Forslund, Anders & Gottfries, Nils & Westermark, Andreas, 2005. "Real and nominal wage adjustment in open economies," Working Paper Series 2005:23, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    14. Muysken, Joan & Weel, Bas ter, 1999. "Overeducation, Job Competition and Unemployment," Research Memorandum 030, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    15. Antonella Stirati, 2001. "Inflation, Unemployment and Hysteresis: An alternative view," Review of Political Economy, Taylor & Francis Journals, vol. 13(4), pages 427-451.
    16. Reinhard Hujer & Uwe Blien & Marco Caliendo & Christopher Zeiss, 2006. "Macroeconometric Evaluation of Active Labour Market Policies in Germany. A Dynamic Panel Approach Using Regional Data," AIEL Series in Labour Economics, in: Floro Ernesto Caroleo & Sergio Destefanis (ed.), The European Labour Market. Regional Dimensions, edition 1, chapter 14, pages 287-309, AIEL - Associazione Italiana Economisti del Lavoro.
    17. Goutsmedt, Aurélien & Truc, Alexandre, 2023. "An independent European macroeconomics? A history of European macroeconomics through the lens of the European Economic Review," European Economic Review, Elsevier, vol. 158(C).
    18. Bruinshoofd, Allard & Hollanders, Hugo & Weel, Bas ter, 1999. "Knowledge Spillovers and Wage Inequality: An Empirical Investigation of Knowledge-Skill Complementarity," Research Memorandum 008, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    19. repec:hal:spmain:info:hdl:2441/5571 is not listed on IDEAS
    20. Baas, Timo & Brücker, Herbert, 2012. "The macroeconomic consequences of migration diversion: Evidence for Germany and the UK," Structural Change and Economic Dynamics, Elsevier, vol. 23(2), pages 180-194.
    21. Jim Malley & Thomas Moutos, 2001. "Capital Accumulation and Unemployment: A Tale of Two “Continents”," Scandinavian Journal of Economics, Wiley Blackwell, vol. 103(1), pages 79-99, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:openec:v:7:y:1996:i:4:p:391-422. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.