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The main recessions in Italy: a retrospective comparison

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Author Info

  • Antonio Bassanetti

    ()
    (Banca d'Italia)

  • Martina Cecioni

    ()
    (Banca d'Italia)

  • Andrea Nobili

    ()
    (Banca d'Italia)

  • Giordano Zevi

    ()
    (Banca d'Italia)

Abstract

This paper proposes a comparative analysis of the main macroeconomic aggregates (both real and credit aggregates), and the monetary policy response during the most severe recessions experienced by the Italian economy. This descriptive study focuses mainly on the last forty years, a period for which there is ample and detailed information available. In particular, the paper contrasts the data on the current deep recession with those in 1974-75 and 1992-93, at the times of the oil crisis and the currency crisis respectively. For a selected list of variables, a comparison is made with the dynamics of the recession of the 1930s.

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Bibliographic Info

Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 46.

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Date of creation: Jul 2009
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Handle: RePEc:bdi:opques:qef_46_09

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Web page: http://www.bancaditalia.it
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Keywords: gcyclical fluctuations; recession; credit supply; monetary policy;

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Cited by:
  1. Paolo Del Giovane & Ginette Eramo & Andrea Nobili, 2010. "Disentangling demand and supply in credit developments: a survey-based analysis for Italy," Temi di discussione (Economic working papers) 764, Bank of Italy, Economic Research and International Relations Area.

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