The note compares crisis episodes in Italy in terms of post-crisis
medium-term output growth. The oil shock in the 1970s, the collapse of
the European Monetary System in the 1990s, and the current crisis are
characterised according to whether initial shocks hit aggregate supply
or demand, since the nature of the shock influences the pattern of
recovery in the aftermath. The note then assesses the plausibility of the
medium-term recovery envisaged by the RPP 2010 on the basis of the
characterisation of the current crisis, the projections elaborated by
OECD and the European Commission, alternative growth scenarios,
and the forecast obtained from statistical models of productivity and
capacity utilisation dynamics
Premi sulle icone a fianco dei nomi per visualizzare i libri scritti dall'autore