Fiscal consolidation policies in the context of Italy’s two recessions

Publication type

Journal Article

Authors

Publication date

December 15, 2015

Summary:

Italy experienced a double-dip Great Recession: after the start of the global financial crisis, Italy had a second serious recession in 2011 as a result of the sovereign debt crisis. The reaction of Italian governments was minimal at the beginning but more serious action has been taken to address Italy's fiscal problems since the start of the sovereign debt crisis in 2011. The policies adopted have helped to move the public finances to a more sustainable position, but household real incomes decreased by 13 per cent, with this reduction being quite unevenly felt across the household income distribution. The medium-term outlook is still uncertain: a great deal depends on the capacity of the Italian economy to reduce the level of public debt and to return to sustained economic growth, which has been very weak for more than a decade.

Published in

Fiscal Studies

Volume and page numbers

Volume: 36 , p.499 -526

DOI

http://dx.doi.org/10.1111/j.1475-5890.2015.12074

ISSN

1435671

Subjects

Notes

Albert Sloman Library Periodicals *restricted to University of Essex registered users*


Related Publications

#523423

News

Latest findings, new research

Publications search

Search all research by subject and author

Podcasts

Researchers discuss their findings and what they mean for society

Projects

Background and context, methods and data, aims and outputs

Events

Conferences, seminars and workshops

Survey methodology

Specialist research, practice and study

Taking the long view

ISER's annual report

Themes

Key research themes and areas of interest