UID:
almafu_9958075459302883
Format:
1 online resource (95 p.)
ISBN:
9781475556971
,
1475556977
,
9781475585179
,
1475585179
,
9781299263789
,
129926378X
Series Statement:
IMF Staff Country Reports
Content:
This Selected Issues Paper focuses on structural reforms and fiscal devaluation in Italy. Italy’s economy has a number of important strengths. Despite these strengths, Italy’s economic performance has lagged behind its peers. The authorities’ reform plans are under way in different sectors of the country. In most cases, if reforms go in the right direction, their impact would depend on consistent and prompt implementation. The model-based analysis also suggests that the potential gains to the economy from deeper reforms can be sizable.
Note:
"July 2012."
,
Cover; Contents; I. Structural Reforms in Italy: Overview and Macroeconomic Impact; A. Introduction; B. Product Markets: Enhancing Competition and Deregulating; Tables; 1. Product Market Reforms--A Summary of Main Problems and Action Taken; C. Labor Market: Improving Participation and Productivity; 2. Labor Market Reform--A Summary of Main Problems and Actions Proposed; D. Assessing the Impact of Structural Reforms: Using IMF's GIMF; Box; 1. Turning Points in Growth and Structural Reforms; E. Reform Priorities and Implementation; Figures
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1. Regulatory Barriers and High Profit Margins in Non-tradable Sectors2. Difficult Environment for Doing Business; 3. Low R&D, Poor Educational Attainment, and Insufficient Complexity of Exports; 4. Inefficient Public Administration and High Tax Burden; 5. Immediately Credible Reduction in the Non-tradable Price Markup over 5 years; 6. Immediately Credible Reduction in the Wage Markup over 5 years; 7. Fiscal Reform; 3. Labor Market: What are the Chances; 4. Labor Market Institutions and Reforms at a Glance; 5. Article 18 of the Workers' Statute-Before and After Proposed Modifications
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6. Main Reform Measures and Proxies Used in Simulations7. Reforms in Italy and the Rest of the Euro Area; 8. Italy and Euro Area: Combined Reforms Scenarios; References; Annex: IMF's GIMF and Transition Dynamics; II. Fiscal Devaluation in Italy: Towards a More Export, Employment, and Growth Friendly Tax System; A. General Considerations; B. The Case for Further Fiscal Devaluation in Italy; Figure: 1. Denmark: Fiscal Devaluation, 1985-1990; Box: Conditions for an Effective Fiscal Devaluation in Italy; C. Expected Effects of the Reform; D. Caveats
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Table: 1. Short and Long-Term Impacts of a Revenue Shift of 1 percent of GDP from SSC to VATE. Implementation Issues; F. Conclusion; References; III. Recent Movements in Italian Government Bond Spreads: Driving Factors and Implications on Lending conditions; A. Introduction; B. Factors Driving Italian Sovereign Spreads; C. Impact of Movements in Sovereign Spreads on Lending Conditions; D. Conclusions and Policy Implications; Figure: 1. Lending Conditions; References; Appendix - List of Events Corresponding to Good and Bad News; Tables
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1. Estimated Impact of Fiscal Variables on Government Spreads and Yields in the Literature2. Panel Regression Results; 3. Estimated Credit Demand and Supply; IV. Recent Developments and Implications from Changes in the Investor Base for Italian Government Bonds; A. Introduction; B. Recent Developments in the Investor Base; C. Policies to Promote Stability in the Government Bond Market; References
,
English
Additional Edition:
ISBN 9781475589115
Additional Edition:
ISBN 1475589115
Additional Edition:
ISBN 9781475506525
Additional Edition:
ISBN 147550652X
Language:
English
