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Inflation and Currency Devaluation in Italy (1971-1979)

Author

Listed:
  • Antonio Di Ruggiero
  • Mauro Rota

Abstract

L’Italia ha sperimentato tassi di inflazione più elevati e più persistenti rispetto ad altre economie occidentali durante la Great Inflation (1971-1979). La risposta dei policy maker in Italia assunse che isalari fossero il principale vettore dell’inflazione e che la svalutazione della lira fosse l’unica rispostapraticabile per sostenere i tassi di profitto delle imprese e la domanda aggregata. Abbiamo analizzato tale impostazione di policy e abbiamo concluso che, in opposizione all’opinione prevalente, la politica di cambio rappresenta la principale fonte della spirale inflazionistica in Italia e che i salari hanno svolto solo un ruolo marginale nell’aumento dei prezzi.

Suggested Citation

  • Antonio Di Ruggiero & Mauro Rota, 2020. "Inflation and Currency Devaluation in Italy (1971-1979)," Economia & lavoro, Carocci editore, issue 3, pages 143-162.
    • Handle: RePEc:caq:j950ix:doi:10.7384/100031:y:2020:i:3:p:143-162
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