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Italy: Quantifying the Benefits of a Comprehensive Reform Package


  • Michal Andrle
  • Alvar Kangur
  • Mehdi Raissi


This paper seeks to quantify the net benefits of a comprehensive reform package aimed at addressing Italy’s inter-related challenges. Specifically, it simulates the growth and competitiveness effects of a package of fiscal, financial, wage bargaining, and other structural reforms. Credible implementation of such a package yields substantial mediumterm dividends at negligible near-term growth costs. Real GDP growth is estimated to be substantially higher over the medium term, while the real effective exchange rate depreciates notably.

Suggested Citation

  • Michal Andrle & Alvar Kangur & Mehdi Raissi, 2018. "Italy: Quantifying the Benefits of a Comprehensive Reform Package," IMF Working Papers 18/60, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:18/60

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    Cited by:

    1. Mariana Colacelli & Emilio Fernández Corugedo, 2018. "Macroeconomic Effects of Japan’s Demographics: Can Structural Reforms Reverse Them?," IMF Working Papers 18/248, International Monetary Fund.


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