A Macroeconomic Assessment of the Italian National Recovery and Resilience Plan

Bartolomeo, Giovanni Di; D’Imperio, Paolo

doi:10.2139/ssrn.4405861

Cited by 5 publications

(1 citation statement)

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“…Italy's National Recovery and Resilience Plan (henceforth NRRP) is the largest national plan in absolute figures (European Parliament, 2022). In addition to improving productivity and growth potential in the long run, the Plan is expected to be a remarkable demand shock to the national economy during its implementation, for the good and service markets but also for the labor market (Basso et al 2023, D'Andrea et al 2023, Di Bartolomeo and D'Imperio, 2022, CNEL 2022. However, less is known about the NRRP consequences at the local level, also due to difficulties in attributing in a reliable way resources to places and in estimating where the value added and the labor demand triggered by these resource are going to be actually created.…”

Section: Introductionmentioning

confidence: 99%

The employment activated by the National Recovery and Resilience Plan in the construction sector at the regional level

Camussi,

Dottori,

Mancinelli

et al. 2023

Preprint

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This work estimates the regional employment generated by the National Recovery and Resilience Plan (NRRP) in the construction sector, based on the resources already assigned to new projects. These resources are associated with the creation of regional value added, estimated using a standard Leontief model applied to 2019 Input-Output tables. Then, the number of employees needed to reach the expected increase in production is derived. In the second part of the analysis, possible channels to satisfy the estimated labor demand are discussed, taking into account the regional heterogeneity in labor supply and workers’ mobility. JEL Classification: D57, J2, H50

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Section: Introductionmentioning

confidence: 99%

The employment activated by the National Recovery and Resilience Plan in the construction sector at the regional level

Camussi,

Dottori,

Mancinelli

et al. 2023

Preprint

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The Spectre of Financial Dominance in the Eurozone

et al. 2023

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Differently from previous crises, the European institutions responded promptly to the Covid-19 pandemic by implementing an appropriate policy mix. However, this policy mix has proven to be insufficient for reducing the risks of financial instability in the European Union due to the temporary horizon of the centralised fiscal policy and the persistence of adverse shocks. In fact, the impact of the pandemic was exacerbated by the dramatic consequences of the war in Ukraine. The possible inefficiencies in implementing the Next Generation-EU (NG-EU) and an inadequate response to the Ukraine crisis could trigger, at best, the revival of financial and fiscal dominance in the euro-area economies. However, by using a simple model referred to the post-pandemic and war period, we show that the overburdening of the European Central Bank’s role would come with high costs. Hence, we argue that it is necessary to pursue sustainable development based on the successful implementation of the NG-EU and the related transformation of the one-shot centralised fiscal policy into a recurrent policy tool.

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Italy’s National Recovery and Resilience Plan: Will it Narrow the North–South Productivity Gap?

Mauro,

Pigliaru

2023

Ital Econ J

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A Macroeconomic Assessment of the Italian National Recovery and Resilience Plan

Cited by 5 publications

References 0 publications

The employment activated by the National Recovery and Resilience Plan in the construction sector at the regional level

The employment activated by the National Recovery and Resilience Plan in the construction sector at the regional level

The Spectre of Financial Dominance in the Eurozone

Italy’s National Recovery and Resilience Plan: Will it Narrow the North–South Productivity Gap?

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