Commentary: Fiscal money solution for Rome
By Biagio Bossone, Marco Cattaneo, Massimo Costa, and Stefano Sylos Labini
Fiscal money is a transferable and negotiable government-issued security that bearers may use for obtaining tax rebates two years from issuance. In the case of Italy, FM could fund public investments and social spending programmes, supplement employees’ income and reduce businesses’ tax-wedge on labour. These allocations would increase and sustain a higher level of domestic demand. As a result, Italy’s output gap would close without affecting the country’s external balance.
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The Bulletin: The 100th Edition
January 2010, the date of the ﬁrst of what has now become 100 monthly Bulletins, marked the onset of a long, halting recovery from the ﬁnancial crisis. The world gingerly edged forward, knowing that at each step it could fall down again.
For the 100th edition we have put on a display of economics pyrotechnics. Eight serving and former central bank governors and deputy governors have contributed to this edition of the magazine, representing both major advanced economies and emerging powers around the world.
Download the 100th edition of The Bulletin.