Michele Fratianni Livres

Focusing on Italy's monetary history from 1861 to 1991, this volume presents a comprehensive analysis that diverges from traditional narratives by employing an economic model to interpret events. The authors highlight the significant role of public finance in driving high inflation rates, asserting that government budget deficits and monetary policy are closely intertwined. They argue that excessive monetary base creation has often financed large deficits, fueled by growing government spending rather than insufficient tax revenues. The book includes extensive data series valuable for economic historians and monetary economists.

InhaltsverzeichnisInhalt: K. Brunner, The Money Supply Process in Open Economies with Interdependent Security Markets: The Case of Imperfect Substitutability - M. Fratianni, Domestic Bank Credit, Money and the Open Economy - D. Heremans / A. Sommariva / A. Verheirstraeten, A Money and Bank Credit Model for Belgium - R. Vandeputte, Objectives and Tools of Monetary Policy in Belgium - L. Girton / D. W. Henderson, Critical Determinants of the Effectiveness of Monetary Policy in the Open Economy - B. Decaluwe / A. Steinherr, The Two-Tier Foreign Exchange Market in Belgium - F. Boll, Policy Implications of Alternative Two-Tier Exchange Rate Systems - P. De Grauwe, The Belgian Dual Exchange Market System: An Inequitable and Ineffective System - M. Gray / M. Parkin, Discriminating Between Alternative Explanations of Inflation - T. Willett / R. Sweeney, The International Transmission of Inflations: Mechanisms, Issues and Evidence - J. C. Pattison, International Inflationary Linkages and the Recent Experience in Individual Countries - A. H. Meltzer, The Monetary Approach to Inflation and the Balance of Payments: Theoretical and Empirical Contributions at the Leuven Conference