Letter from the Editors

The Editors in Chief of the Revista de Economía y Finanzas, whose first number dates back to 1935, announce with pleasure that, following successful contacts with Banca d´Italia and with authors, a group of articles submitted to the 12th Public Finance Workshop held in Perugia from 25 through 27 March 2010, are now reprinted in the journal edited by the Institute of Economics and Finance of the National University of Córdoba, Argentina. The workshop was devoted to the consideration of Fiscal Policy Lessons from the Crisis. The editors (Marika Cioffi, Daniele Franco and Maria Rosaria Marino) of the Banca d’Italia´s release of the papers noted that ‘the economic downturn and its severe impact on public finances and long term growth have renewed the debate on the role, design and priority of fiscal policy’. They argued that the new consensus on the complementarity of monetary and fiscal policies stemmed from the limited effectiveness of monetary policies when low interest rates prevail and dysfunctional credit markets add extra challenges to the efficacy of economic tools.