This volume deals with the monetary history of Italy from its
independence in 1861 to 1992. It provides the first complete
analysis of a country which has experienced diverse and often
dramatic monetary conditions. The authors interpret Italian
monetary history through the looking glass of a model which, while
monetarist in flavour, is open to other interpretations. A key
theme is that public finance is at the root of the (relatively)
high Italian inflation rates. The authors argue that there is a
strong relationship between the government budget deficit and
monetary policy, and that the monetary authorities are too
dependent on government. The book contributes in a novel way not
only to the monetary debate, but also to fiscal and institutional
questions. It combines economic theory, statistical data and
history in an accessible way which should prove useful to both
economic historians and monetary economists.
General
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