La politica monetaria in Italia dal 1947 al 1978 (Monetary policy in Italy from 1947 to 1978)

Abstract

Since the Second World War, monetary policy in Italy has taken on a fundamental role in the control of the production cycle, the balance daily payments and prices. The present study analyzes the reasons for and effects of monetary policy over the last decade, when destabilizing impulses, both internal and external, became more frequent and intense and as a result required numerous interventions. The author also considers  the stabilization policies of 1947-48 as well as those of the sixties, the control of interest rates and the evolution of monetary aggregates during the periods of development of the fifties and sixties, highlighting the similarities and differences in the instruments and performance with respect to the actions taken in the most recent period. The description is implemented in chronological order, situating the analysis of monetary policy actions in the context of economic developments, and in relation to other economic policy measures.

JEL: E52, E43