The Misalignment of Fiscal Multipliers in Italian Regions

The Asymmetric Impacts of Fiscal Consolidation on Poverty and Social Exclusion: Regional Perspective

“…The results are qualitatively in line with the findings presented in the case of the Italian regions mentioned in the second section of the paper (Piacentini et al 2016, Lucidi 2021. However, at the same time, they should be viewed with a degree of caution given the fact that the sample is rather small and for the very same reasons, it is not possible to further verify the results by changing the cut-off value, which would define the subsamples of regions with worse starting conditions.…”

“…Piacentini et al (2016) show that fiscal consolidation adopted in the wake of the financial crisis had more significant negative impacts on the poorer southern regions of the Italian economy than on the northern regions. The analysis of Lucidi (2021) supports their results.…”

“…Poorer EU regions register stronger negative and more persistent impacts of restrictive monetary policy. The question of asymmetric regional impacts in the context of fiscal policy is posed by Piacentini et al (2016) and Lucidi (2021), who focus on Italy. Piacentini et al (2016) show that fiscal consolidation adopted in the wake of the financial crisis had more significant negative impacts on the poorer southern regions of the Italian economy than on the northern regions.…”