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DEF 2014: le fonti mancanti della crescita

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  • Paolo Pini
  • Roberto Romano

Abstract

EDF 2014: The Missing Sources for Growth. The Economic and Financial Document (EFD) 2014 for Italy describes a country which does not grow and will hardly grow even in the near future. The document announces a programme of structural reforms in the labour market and for competitiveness which will generate marginal impacts on domestic demand; at the same time, it foresees an over-optimistic growth for export and private investments although ti does not say how it will be realized, given (in a context of measures devoted to respect) the constraints of balanced budget and fiscal consolidation. The recipe for the next few years adopted in the Italian EFD 2014, recommended by the European Commission, is a perverse mix of “expansionary austerity†and “expansionary precariousness†which leaves no room for employment recovery, wage growth, and not even for economic policy supporting domestic demand and industrial policy for innovation.

Suggested Citation

  • Paolo Pini & Roberto Romano, 2014. "DEF 2014: le fonti mancanti della crescita," Working Papers 2014083, University of Ferrara, Department of Economics.
    • Handle: RePEc:udf:wpaper:2014083
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    References listed on IDEAS

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    6. Paolo Pini, 2013. "Europe's Austerity Budget for 2014-2020. A Comment over an Anti-Keynesian Budget," Economia politica, Società editrice il Mulino, issue 3, pages 301-312.
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    Keywords

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    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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