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Il ruolo della Banca d'Italia dalla ricostruzione post-bellica alla fine degli anni Settanta: una nota (The role of the Bank of Italy from postwar reconstruction to the late 1970s: a note)

Author

Listed:
  • Lorenzo Esposito

    (Banca d'Italia, Sede di Milano e Universita' Cattolica del Sacro Cuore, Milano)

  • Giuseppe Mastromatteo

    (Universita' Cattolica del Sacro Cuore, Milano)

Abstract

La Banca d'Italia ha tradizionalmente una posizione determinante nella politica economica del nostro paese. In questo contributo sara' esaminato questo ruolo concentrandosi sugli anni Sessanta e Settanta e sara' analizzato il contesto in cui si situa l'azione di policy, le relazioni tra i vertici di Via Nazionale e il governo, le finalita' e gli strumenti della Banca che vedeva nella stabilita' monetaria un indispensabile aspetto della crescita piu' che un obiettivo a se' stante. Questa posizione guarda all'inflazione nel suo potenziale effetto redistributivo e per gli effetti che determina sulla accumulazione, sulla competitivita' e, quindi, anche sull'equilibrio dei conti con l'estero. The Bank of Italy has traditionally held a dominant position in the economic policy of our country. We examine this role focusing on the 1960s and 1970s and we analyze the context in which economic policy takes place, the relations between the Bank and the government, the goals and tools of the Bank who saw in monetary stability a vital aspect of economic growth more than a goal per se. This position looked at inflation in its potential redistributive effect and for the effects it determines on accumulation and competitiveness and, therefore, on the balance of current account.

Suggested Citation

  • Lorenzo Esposito & Giuseppe Mastromatteo, 2023. "Il ruolo della Banca d'Italia dalla ricostruzione post-bellica alla fine degli anni Settanta: una nota (The role of the Bank of Italy from postwar reconstruction to the late 1970s: a note)," Moneta e Credito, Economia civile, vol. 76(301), pages 77-93.
  • Handle: RePEc:psl:moneta:2023:14
    as

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    References listed on IDEAS

    as
    1. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    2. Antonio Fazio, 1979. "La politica monetaria in Italia dal 1947 al 1978," Moneta e Credito, Economia civile, vol. 32(127), pages 269-320.
    3. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Bank of Italy; inflation; Italian economy;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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