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Assessing Policy Reforms for Italy Using ITEM and QUEST III

Author

Listed:
  • Barbara Annicchiarico

    (“Tor Vergata” University - Department of Economics, Law and Institutions, Rome)

  • Fabio Di Dio

    (Sogei S.p.A.- IT Economia - Modelli di previsione ed analisi statistiche, Rome)

  • Francesco Felici

    (Italian Ministry of Economy and Finance - Department of the Treasury, Rome)

  • Francesco Nucci

    (Sapienza University - Department of Economics and Law, Rome)

Abstract

This paper assesses the implications of policy reforms for the Italian economy by jointly using the Italian Treasury Econometric Model (ITEM) and QUEST III, the endogenous growth dynamic general equilibrium model of the European Commission in the version calibrated for Italy. The structural characteristics of the two models and the results of simulations are analyzed by using an array of shocks commonly examined in the evaluation of reforms. We conclude that the joint consideration of the two models can improve our understanding of how the assessment of policy interventions is likely to be affected by the uncertainty surrounding model-based evaluation.

Suggested Citation

  • Barbara Annicchiarico & Fabio Di Dio & Francesco Felici & Francesco Nucci, 2014. "Assessing Policy Reforms for Italy Using ITEM and QUEST III," Rivista di Politica Economica, SIPI Spa, issue 3, pages 211-244, July-Sept.
    • Handle: RePEc:rpo:ripoec:y:2014:i:3:p:211-244
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    Cited by:

    1. Francesco Carlucci, 2016. "Measures for the Growth and Public-Debt Repayment in Italy," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2016(118-119-1), pages 23-58.

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    More about this item

    Keywords

    economic modelling; DGE; structural reforms; Italy.;
    All these keywords.

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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