Bank of Italy

On 21-23 March 2018, Banca d'Italia hosted in Rome its 20th Workshop on Public Finance. The workshop focused on three main areas.

The effects of tax-benefit systems on equity and efficiency

The linkages between public and private finance

The reform of the euro-area institutional architecture, including the improvement of the current fiscal rules, the strengthening of the European Stability Mechanism, the possible introduction of sovereign debt restructuring mechanisms.

The third topic was also the object of two panel discussions.

Programme

Programmepdf 159.3 KB Publish date::27 April 2018

Opening remarks

Memories and way forward - Opening remarkspdf 4.8 MB Daniele Franco (State General Accountant) Publish date::19 June 2018

Section 1: Equity and efficiency issue in fiscal policy

Basic income or a single tapering rule? Incentives, inclusiveness and affordability compared for the case of Finland (paper)pdf 1.5 MB Jon Kristian Pareliussen (OECD), Hyunjeong Hwang (OECD) and Heikki Viitamäki (VATT Institute for Economic Research) Publish date::19 June 2018
Basic income or a single tapering rule? Incentives, inclusiveness and affordability compared for the case of Finland (slide)pdf 3.2 MB Jon Kristian Pareliussen (OECD), Hyunjeong Hwang (OECD) and Heikki Viitamäki (VATT Institute for Economic Research) Publish date::19 June 2018
The effects of the tax mix on inequality and growth (paper)pdf 1.4 MB Oguzhan Akgun, Boris Cournède and Jean-Marc Fournier (OECD) Publish date::19 June 2018
The effects of the tax mix on inequality and growth (slide)pdf 173.6 KB Oguzhan Akgun, Boris Cournède and Jean-Marc Fournier (OECD) Publish date::19 June 2018
Size and distributional pattern of pension-related tax expenditures in European countries (paper)pdf 469.9 KB Salvador Barrios (European Commission), Flavia Coda Moscarola (CeRP-Collegio Carlo Alberto, University of Turin), Francesco Figari (University of Insubria and ISER University of Essex) and Luca Gandullia (University of Genoa) Publish date::19 June 2018
Size and distributional pattern of pension-related tax expenditures in European countries (slide)pdf 1.3 MB Salvador Barrios (European Commission), Flavia Coda Moscarola (CeRP-Collegio Carlo Alberto, University of Turin), Francesco Figari (University of Insubria and ISER University of Essex) and Luca Gandullia (University of Genoa) Publish date::19 June 2018
Discussionpdf 96.8 KB Teresa Ter-Minassian (IMF) Publish date::19 June 2018
Discussion (slide)pdf 167.1 KB Marco Savegnago (Banca d'Italia) Publish date::19 June 2018
Fiscal stabilization and productive investment: evidence from advanced economies (paper)pdf 495.6 KB Davide Furceri and João Tovar Jalles (IMF) Publish date::19 June 2018
Fiscal stabilization and productive investment: evidence from advanced economies (slide)pdf 1.7 MB Davide Furceri and João Tovar Jalles (IMF) Publish date::19 June 2018
Fiscal structural reforms: the effect of card payments on VAT revenue in the Euro area (paper)pdf 2.3 MB George Hondroyiannis and Dimitrios Papaoikonomou (Bank of Greece) Publish date::19 June 2018
Fiscal structural reforms: the effect of card payments on VAT revenue in the Euro area (slide)pdf 1.5 MB George Hondroyiannis and Dimitrios Papaoikonomou (Bank of Greece) Publish date::19 June 2018
Does purchase centralization reduce public expenditure? Evidence from the Italian health-care system (paper)pdf 363.0 KB Massimiliano Ferraresi (European Commission - Joint Research Centre), Gianluca Gucciardi (University of Ferrara) and Leonzio Rizzo (University of Ferrara and Institut d'Economia de Barcelona) Publish date::19 June 2018
Discussion (slide)pdf 29.5 KB Adi Brender (Bank of Israel) Publish date::19 June 2018

Section 2: DEBT RESTRUCTURING MECHANISMS AND PUBLIC-PRIVATE FINANCES LINKAGES

Sovereign exposures in the Portuguese banking system: determinants and dynamics (slide)pdf 1.0 MB María M. Campos, Ana Rita Mateus and Álvaro Pina (Banco de Portugal) Publish date::19 June 2018
Discussion (slide)pdf 281.3 KB Doris Prammer (Oesterreichische Nationalbank) Publish date::19 June 2018
European Fiscal Board's Annual Report 2017 (paper)pdf 1.5 MB Presentation: Martin Larch and Eloïse Orseau (European Fiscal Board) Discussion: Giuseppe Pisauro (Ufficio parlamentare di bilancio) Publish date::19 June 2018
European Fiscal Board's Annual Report 2017 (slide)pdf 360.5 KB Presentation: Martin Larch and Eloïse Orseau (European Fiscal Board) Discussion: Giuseppe Pisauro (Ufficio parlamentare di bilancio) Publish date::19 June 2018
Official sector lending strategies during the Euro area crisis (paper)pdf 2.9 MB Giancarlo Corsetti (University of Cambridge), Aitor Erce (European Stability Mechanism) and Timothy Uy (University of Cambridge) Publish date::19 June 2018
Official sector lending strategies during the Euro area crisis (slide)pdf 620.6 KB Giancarlo Corsetti (University of Cambridge), Aitor Erce (European Stability Mechanism) and Timothy Uy (University of Cambridge) Publish date::19 June 2018
Life after default: private vs. official sovereign debt restructurings (paper)pdf 1.4 MB Silvia Marchesi and Tania Masi (University of Milan Bicocca) Publish date::19 June 2018
Life after default: private vs. official sovereign debt restructurings (slide)pdf 762.0 KB Silvia Marchesi and Tania Masi (University of Milan Bicocca) Publish date::19 June 2018
Discussion (slide)pdf 27.3 KB Karsten Wendorff (Deutsche Bundesbank) Publish date::19 June 2018

Panel discussion 1 - An assessment of the EU fiscal framework

Fabrizio Balassone (Banca d'Italia)pdf 279.2 KB Publish date::19 June 2018
Roel Beetsma (European Fiscal Board)pdf 791.7 KB Publish date::19 June 2018
George Kopits (Woodrow Wilson International Center for Scholars and Portuguese Public Finance Council)pdf 710.1 KB Publish date::19 June 2018
Lucio Pench (European Commission)pdf 1.2 MB Publish date::19 June 2018

SECTION 3 - THE FUTURE OF EMU

A minimal moral hazard central stabilisation capacity for the EMU based on world trade (paper)pdf 1.6 MB Roel Beetsma (University of Amsterdam), Simone Cima (Central Bank of Ireland) and Jacopo Cimadomo (ECB) Publish date::19 June 2018
A minimal moral hazard central stabilisation capacity for the EMU based on world trade (slide)pdf 746.9 KB Roel Beetsma (University of Amsterdam), Simone Cima (Central Bank of Ireland) and Jacopo Cimadomo (ECB) Publish date::19 June 2018
Euro area unemployment insurance at the time of zero nominal interest rates (paper)pdf 311.7 KB Guillaume Claveres and Jan Stráský (OECD) Publish date::19 June 2018
Euro area unemployment insurance at the time of zero nominal interest rates (slide)pdf 341.4 KB Guillaume Claveres and Jan Stráský (OECD) Publish date::19 June 2018
A case for a European rainy day fund (slide)pdf 716.0 KB Andreja Lenarcic and Kari Korhonen (European Stability Mechanism) Publish date::19 June 2018
Discussion (slide)pdf 136.3 KB Francesco D'Amuri (Banca d'Italia) Publish date::19 June 2018
How we learned to stop worrying and (almost) love debt redemption (slide)pdf 1.2 MB Marika Cioffi, Pietro Rizza, Marzia Romanelli and Pietro Tommasino (Banca d'Italia) Publish date::19 June 2018
Discussion (slide)pdf 514.7 KB Javier J. Pérez (Banco de España) Publish date::19 June 2018

Panel discussion 2 - The future of EMU

Agnès Bénassy-Quéré (Paris School of Economics)pdf 120.2 KB Publish date::19 June 2018
Marco Buti (European Commission)pdf 776.8 KB Publish date::19 June 2018
Deepening of the Economic and Monetary Union (paper)pdf 667.6 KB Marco Buti, DG Economic and Financial Affairs, European Commission Publish date::03 December 2018

Fiscal challenges for the Euro area: institutional and policy fixesRome, 21-23 March 2018

Programme

Opening remarks

Section 1: Equity and efficiency issue in fiscal policy

Section 2: DEBT RESTRUCTURING MECHANISMS AND PUBLIC-PRIVATE FINANCES LINKAGES

Panel discussion 1 - An assessment of the EU fiscal framework

SECTION 3 - THE FUTURE OF EMU

Panel discussion 2 - The future of EMU

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