Italy: Quantifying the Benefits of a Comprehensive Reform Package

This paper seeks to quantify the net benefits of a comprehensive reform package aimed at addressing Italy’s inter-related challenges. Specifically, it simulates the growth and competitiveness effects of a package of fiscal, financial, wage bargaining, and other structural reforms. Credible implementation of such a package yields substantial mediumterm dividends at negligible near-term growth costs. Real GDP growth is estimated to be substantially higher over the medium term, while the real effective exchange rate depreciates notably.
Publication date: March 2018
ISBN: 9781484347614
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growth , competitiveness , product market reforms , DSGE models , Forecasting and Other Model Applications , Quantitative Policy Modeling , Forecasting and Simulation , General , Institutions and Growth

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