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The Italian Stabilization of 1947: Domestic and International Factors

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  • Martinez Oliva, Juan Carlos
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    Abstract

    The paper examines the 1947 monetary stabilization in Italy, tracing the domestic and international political dynamics that allowed ideas and theoretical concepts developed within the Bank of Italy to be applied in a successful action to subdue spiraling inflation. The combination of events and circumstances necessary for the good outcome in a critical juncture of Italian economic history was the fruit of the efforts made by Prime Minister Alcide De Gasperi in both the domestic and international political arenas and of the collaboration he received from Luigi Einaudi and Donato Menichella. The Government’s economic action in this crucial episode constitutes perhaps the first outstanding example of cooperation between politicians and experts in the annals of the Italian Republic.

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    File URL: http://mpra.ub.uni-muenchen.de/16396/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 16396.

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    Date of creation: 2005
    Date of revision: 2007
    Handle: RePEc:pra:mprapa:16396

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    Keywords: Economic history; Stabilization; Italy; United States; De Gasperi; Menichella; 1947;

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    1. Casella, Alessandra & Eichengreen, Barry, 1991. "Halting Inflation in Italy and France After World War II," CEPR Discussion Papers, C.E.P.R. Discussion Papers 594, C.E.P.R. Discussion Papers.
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