Record Details

The annual report of the Bank of Italy for 1953

PSL Quarterly Review

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Field Value
 
Title The annual report of the Bank of Italy for 1953
 
Creator LUTZ, V.C.
 
Subject —
Bank of Italy, annual report, credit control, fiscal policy, monetary authorities, flexible interest rate policy
E43, E52, E58, E62
 
Description The first part of the article summarises some of the views concerning current Italian problems expressed by the Governor of the Bank of Italy, Dr. Menichella, in his Annual Address to Shareholders. The author gives particular attention to Menichella’s views on the technique of credit control by the Bank of Italy, commenting on the stress which the Governor placed on rigid and fortuitous elements that have influenced the total volume of accommodation granted by the Bank of Italy in recent years, his conclusion that the instruments of control available to the Central Bank are imperfect and his observations on the smallness of the area of manoeuvrability in fiscal policy. The author raises the question whether in the case that the combination of rigid and fortuitous factors should be less favourable in the future than it has been in the past, the monetary authorities might not still be able to tighten their control through a flexible interest rate policy of the kind that has been adopted in many other countries since 1951. The second part of the article gives a summary of the year’s developments, mostly in the financial sphere. It includes a brief description of the new cartel agreement between the commercial banks, and the system of interest rates which has been officially established thereunder. 
 
Publisher Economia civile
 
Contributor —
 
Date 2014-09-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/12750
 
Source PSL Quarterly Review; Vol 7, No 28,29 (1954)
PSL Quarterly Review; Vol 7, No 28,29 (1954)
2037-3643
ISSN 2037-3635
 
Language eng
 
Relation http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/12750/12558
 
Rights Copyright (c) 2016 V.C. LUTZ
http://creativecommons.org/licenses/by-nc-nd/4.0