The simulations that we present in the following pages are divided into four groups. The first and most numerous group includes seven antiinflationary policies. With the exception of the first one (the standard monetarist rule) they reflect alternative “ad hoc” antinflationary rules which have been proposed within the Italian economic policy debate and which, in different ways, aim to modify the full wage escalator clauses which were introduced into the Italian economy at the end of 1975.
KeywordsExchange Rate Current Account Real Wage Money Supply Monetary Authority
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