A Monetary History of Italy

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Focusing on Italy's monetary history from 1861 to 1991, this volume presents a comprehensive analysis that diverges from traditional narratives by employing an economic model to interpret events. The authors highlight the significant role of public finance in driving high inflation rates, asserting that government budget deficits and monetary policy are closely intertwined. They argue that excessive monetary base creation has often financed large deficits, fueled by growing government spending rather than insufficient tax revenues. The book includes extensive data series valuable for economic historians and monetary economists.