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Le principali recessioni italiane: un confronto retrospettivo

Author

Listed:
  • Antonio Bassanetti

    (Banca d’Italia, Roma)

  • Martina Cecioni

    (Banca d’Italia, Roma)

  • Andrea Nobili

    (Banca d’Italia, Roma)

  • Giordano Zevi

    (Banca d’Italia, Roma)

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 deep recession of 2008-09 with those in 1974-75 and 1992-93, during 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.

Suggested Citation

  • Antonio Bassanetti & Martina Cecioni & Andrea Nobili & Giordano Zevi, 2011. "Le principali recessioni italiane: un confronto retrospettivo," Rivista di Politica Economica, SIPI Spa, issue 3, pages 281-318, JULY-SEPT.
    • Handle: RePEc:rpo:ripoec:y:2011:i:3:p:281-318
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    Citations

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    Cited by:

    1. Silvia Fabiani & Mario Porqueddu, 2015. "Changing prices ... changing times: evidence for Italy," Questioni di Economia e Finanza (Occasional Papers) 275, Bank of Italy, Economic Research and International Relations Area.
    2. Roberto Cellini & Paolo Di Caro & Gianpiero Torrisi, 2017. "Regional resilience in Italy: do employment and income tell the same story?," Chapters, in: Robert Huggins & Piers Thompson (ed.), Handbook of Regions and Competitiveness, chapter 14, pages 308-331, Edward Elgar Publishing.
    3. International Monetary Fund, 2010. "Italy: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; Staff Statement; Statement by the Executive Director for Italy," IMF Staff Country Reports 2010/157, International Monetary Fund.
    4. Michele Caivano & Lisa Rodano & Stefano Siviero, 2010. "The transmission of the global financial crisis to the Italian economy. A counterfactual analysis, 2008-2010," Questioni di Economia e Finanza (Occasional Papers) 64, Bank of Italy, Economic Research and International Relations Area.
    5. Paolo Di Caro, 2015. "Recessions, recoveries and regional resilience: evidence on Italy," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 8(2), pages 273-291.
    6. Bartoli, Francesca & Ferri, Giovanni & Murro, Pierluigi & Rotondi, Zeno, 2013. "Bank–firm relations and the role of Mutual Guarantee Institutions at the peak of the crisis," Journal of Financial Stability, Elsevier, vol. 9(1), pages 90-104.
    7. Di Giulio, Daniele, 2009. "Bank lending to the production sector: credit crunch or extra-credit?," MPRA Paper 26824, University Library of Munich, Germany.
    8. Ms. Edda Zoli, 2013. "Italian Sovereign Spreads: Their Determinants and Pass-through to Bank Funding Costs and Lending Conditions," IMF Working Papers 2013/084, International Monetary Fund.
    9. Francesca Bartoli & Giovanni Ferri & Pierluigi Murro & Zeno Rotondi, 2011. "Soft information and loan supply crisis. Evidence from the credit files of a large bank," Rivista Bancaria - Minerva Bancaria, Istituto di Cultura Bancaria Francesco Parrillo, issue 5-6, november.
    10. Matteo Bugamelli & Riccardo Cristadoro & Giordano Zevi, 2009. "The international crisis and the Italian productive system: a firm-level study," Questioni di Economia e Finanza (Occasional Papers) 58, Bank of Italy, Economic Research and International Relations Area.

    More about this item

    Keywords

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    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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