The fourth Banca d’Italia workshop on public finances aimed at providing an overview of the theoretical and empirical problems that can be encountered in the analysis of the impact of fiscal policy.
The papers contribute to the discussion by addressing the following questions: What do we know about the effects of fiscal policy in the short term? What indicators can we use? What is the impact of stabilisers? What do we know about the long-term effects of fiscal policy on economic growth? What are the policy issues under discussion in the main countries and economic areas?
The papers presented at the workshop were allocated in four sessions which are mirrored by the sections in this volume.
The first session considered the methodological issues related to the measurement of the impact of fiscal policy.
The second session examined the effectiveness of fiscal policy in stabilising the economy and the roles of automatic stabilisers and discretionary policy.
The third session considered the impact of fiscal policy on structural features of the economy and its effects on long-term growth.
The fourth session was devoted to the analysis of the main policy issues faced by OECD countries, such as the seeming ineffectiveness of fiscal policy in some countries, the management of surpluses and the role of national policies in a currency union.
Attendance at the conference is by invitation only.
Organizer: Mr. Daniele Franco, Banca d’Italia
