Record Details

La spesa pubblica per interessi in un sistema a forte intermediazione finanziaria

Moneta e Credito

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Title La spesa pubblica per interessi in un sistema a forte intermediazione finanziaria
 
Creator SALVEMINI, M.T.
 
Subject —
Public expenditures, interest, debt, Italy, income, consumption, deficit, crowding out, consumers, government bonds
H63, E51, G12, E43
 
Description The growth of public expenditures for the payment of interests on various forms of debt in Italy has been very strong in recent years. The payment of interest generates additional pulses, through financing which requires more government bonds and through income which increases consumption. These secondary effects are all the more crucial the more uncertain the sign and size of the total momentum coming from the "financing" side. An important link thus emerges: the effects of income are manifested when the interest on the public debt is paid to agents that are able to consume, which happens when the public deficit is financed by households or businesses. The (positive) effects of wealth also rely on this assumption, due to the greater availability of government bonds. The present study looks at the question of what would happen if these expansive effects were reduced, and financing with government bonds only generated crowding out effects due to consumers not being the holders of the government bonds that finance the deficit.
 
Publisher Associazione Economia civile
 
Contributor —
 
Date 2014-03-26
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Articolo peer-review
 
Format application/pdf
 
Identifier http://ojs.uniroma1.it/index.php/monetaecredito/article/view/11855
 
Source Moneta e Credito; Vol 31, N° 124 (1978)
Moneta e Credito; Vol 31, N° 124 (1978)
2037-3651
 
Language ita
 
Relation http://ojs.uniroma1.it/index.php/monetaecredito/article/view/11855/11668
 
Rights Copyright (c) 2016 M.T. SALVEMINI
http://creativecommons.org/licenses/by-nc-nd/4.0