WorldCat Identities

Giavazzi, Francesco

Works: 461 works in 1,660 publications in 4 languages and 14,803 library holdings
Genres: Conference papers and proceedings  Textbooks  History 
Roles: Author, Editor, Other, htt, Creator, Author of introduction, Honoree
Classifications: HB172.5, 339
Publication Timeline
Most widely held works by Francesco Giavazzi
The future of Europe : reform or decline by Alberto Alesina( )

27 editions published between 2006 and 2008 in English and held by 2,330 WorldCat member libraries worldwide

Presenting the argument which suggests that, unless Europe takes serious action soon, its economic and political decline is unavoidable, this text provides a statement of the steps Europe must take before it's too late
Inflation targeting, debt, and the Brazilian experience, 1999 to 2003 by Francesco Giavazzi( )

11 editions published in 2005 in English and held by 1,577 WorldCat member libraries worldwide

"Inflation targeting - when central bank policies set specific inflation rate objectives - is widely used by both developed and developing countries around the world (although not by the United States or the European Central Bank). This collection of original essays looks at how Brazil's policy of inflation targeting, coupled with a floating exchange rate, survived a series of severe economic shocks and examines the policy lessons that can be drawn from Brazil's experience."--Jacket
External evaluation of IMF economic research activities : report by Frederic S Mishkin( )

5 editions published in 2000 in English and held by 1,114 WorldCat member libraries worldwide

This report, commissioned by the Executive Board, was prepared by a committee of academic economists. The report assesses the appropriateness of current research activities, the quality and added value of the IMF's economic research and its utility in the IMF among its member countries and within the wider economics community. This publication also includes responses to the report by the IMF's staff, Managing Director, and Executive Board
Europe and the euro( )

16 editions published in 2010 in English and held by 797 WorldCat member libraries worldwide

"A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, Europe and the Euro looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks. This volume is an essential reference on the first ten years of the euro and the workings of a monetary union."--Jacket
Macroeconomics by Olivier Blanchard( Book )

99 editions published between 1998 and 2017 in 4 languages and held by 599 WorldCat member libraries worldwide

This textbook will give students a fuller understanding of the subject and has been fully updated to provide broad coverage of the financial crisis
Limiting exchange rate flexibility : the European monetary system by Francesco Giavazzi( Book )

23 editions published between 1989 and 1991 in English and held by 560 WorldCat member libraries worldwide

The European monetary system by Banca d'Italia( Book )

21 editions published between 1988 and 1990 in English and held by 560 WorldCat member libraries worldwide

Recoge: 1. The international environment - 2. Disinflation, external adjustment and cooperation - 3. Exchange rates, capital mobility and monetary coordination - 4. The future og the European monetary system
Austerity : when it works and when it doesn't by Alberto Alesina( )

18 editions published between 2019 and 2020 in English and Italian and held by 541 WorldCat member libraries worldwide

Fiscal austerity is hugely controversial. Opponents argue that it can trigger downward growth spirals and become self-defeating. Supporters argue that budget deficits have to be tackled aggressively at all times and at all costs. In this masterful book, three of today's leading policy experts cut through the political noise to demonstrate that there is not one type of austerity but many. Looking at thousands of fiscal measures adopted by sixteen advanced economies since the late 1970s, "Austerity" assesses the relative effectiveness of tax increases and spending cuts at reducing debt. It shows that spending cuts have much smaller costs in terms of output losses than tax increases. Spending cuts can sometimes be associated with output gains in the case of expansionary austerity and are much more successful than tax increases at reducing the growth of debt. The authors also show that austerity is not necessarily the kiss of death for political careers as is often believed, and provide new insights into the recent cases of European austerity after the financial crisis. Bringing needed clarity to one of today's most challenging subjects, "Austerity" charts a sensible approach based on data analysis rather than ideology
Adjustment and growth in the European Monetary Union by Francisco S Torres( Book )

24 editions published between 1993 and 2010 in English and held by 397 WorldCat member libraries worldwide

The Maastricht Treaty, signed in December 1991, set a timetable for the European Community's economic and monetary union (EMU) and clearly defined the institutional policy changes necessary for its achievement. Subsequent developments have demonstrated, however, the importance of many key issues in the transition to EMU that were largely neglected at the time. This volume reports the proceedings of a joint CEPR conference with the Banco de Portugal, held in January 1992. In these papers, leading international experts address the instability of
Fiscal policy after the financial crisis by Alberto Alesina( Book )

15 editions published between 2013 and 2016 in English and German and held by 320 WorldCat member libraries worldwide

The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth. Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy. A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.--
High public debt : the Italian experience by Francesco Giavazzi( Book )

13 editions published between 1988 and 1990 in English and held by 295 WorldCat member libraries worldwide

The transmission mechanism of monetary policy in Europe : evidence from banks' balance sheets by Carlo A Favero( Book )

27 editions published in 1999 in English and held by 156 WorldCat member libraries worldwide

Available studies on asymmetries in the monetary transmission mechanism within Europe are invariably based on macro-economic evidence: such evidence is abundant but often contradictory. This paper takes a different route by using micro-economic data. We use the information contained in the balance sheets of individual banks (available from the BankScope database) to implement a case-study on the response of banks in France, Germany, Italy and Spain to a monetary tightening. The episode we study occurred during 1992, when monetary conditions were tightened throughout Europe. Evidence on such tightening is provided by the uniform squeeze in liquidity, which affected all banks in our sample. We study the first link in the transmission chain by analysing the response of bank loans to the monetary tightening. Our experiment provides evidence on the importance of the Europe and thus on one possibly important source of asymmetries in the monetary transmission mechanism. We do not find evidence of a significant response of bank loans to the monetary tightening, which occurred during 1992, in any of the four European countries we have considered. However we find significant differences both across countries and across banks of different dimensions in the factors that allow them to shield the supply of loans from the squeeze in liquidity
European financial markets after EMU : a first assessment by Jean-Pierre Danthine( Book )

32 editions published in 2000 in English and held by 156 WorldCat member libraries worldwide

This paper reviews the first evidence on the impact of European Monetary Union on European capital markets, one year after the launch of the single currency. Our assessment of this evidence is very favourable. On almost all counts EMU has either changed the European financial landscape already drastically or has the potential to do so in the future. We argue that this is less due to the well-known direct effects of EMU, such as the elimination of intra-European currency risk, than to a number of indirect consequences through feedback mechanisms that seem to have been triggered by EMU
Transparency, risk management and international financial fragility by Mario Draghi( Book )

10 editions published between 2003 and 2004 in English and held by 152 WorldCat member libraries worldwide

"This report analyses specific situations in which significant unanticipated and unintended financial risks can accumulate. The focus is, in particular, on the implicit guarantees that governments extend to banks and other financial institutions, and which may result in the accumulation, often unrecognised from the viewpoint of the government, of unanticipated risks in the balance sheet of the public sector."--Jacket
Non-Keynesian effects of fiscal policy changes : international evidence and the Swedish experience by Francesco Giavazzi( Book )

21 editions published between 1995 and 1996 in English and held by 151 WorldCat member libraries worldwide

In earlier work we documented two episodes in which a sharp fiscal consolidation was associated with a very large expansions in private domestic demand. In this paper we draw on further evidence to investigate if and when fiscal policy changes can have such non-Keynesian effects. In the first part of the paper, we analyze cross-country data for 19 OECD countries. In the second, we concentrate on the Swedish fiscal expansion of the early 1990s. The cross-country evidence on private consumption confirms that fiscal policy changes - both contractions and expansions - can have non-Keynesian effects if they are sufficiently large and persistent, and suggests that these effects can result not only from changes in public consumption but to some extent also from changes in taxes and transfers. The latter result is consistent with the Swedish experience where a decrease in net taxes (with almost no change in public consumption) was associated with a dramatic fall in private domestic demand. Our evidence and that from other studies agree that during the Swedish fiscal expansion of the early 1990s a large negative error appears in the consumption function. There is less consensus about how this error should be interpreted, but it is clear that the most obvious candidates (wealth effects and after-tax real interest rate effects) are not sufficient to explain it. This error may reflect a large downward revision of permanent disposable income, which affected the consumption of Swedish households over and beyond the negative effects of the drop in real asset prices. We suggest that this revision in permanent income may have been triggered, at least partly, by the fiscal expansion of the early 1990s
Macroeconomic effects of regulation and deregulation in goods and labor markets by Olivier Blanchard( )

26 editions published in 2001 in English and held by 150 WorldCat member libraries worldwide

Product and labor market deregulation are fundamentally about reducing and redistributing rents, leading economic players to adjust in turn to this new distribution. Thus, even if deregulation eventually proves beneficial, it comes with strong distribution and dynamic effects. The transition may imply the decline of incumbent firms. Unemployment may increase for a while. Real wages may decrease before recovering, and so on. To study these issues, we build a model based on two central assumptions: Monopolistic competition in the goods market, which determines the size of rents; and bargaining in the labor market, which determines the distribution of rents between workers and firms. We then think of product market regulation as determining both the entry costs faced by firms, and the degree of competition between firms. We think of labor market regulation as determining the bargaining power of workers. Having characterized the effects of labor and product market deregulation, we then use our results to study two specific issues. First, to shed light on macroeconomic evolutions in Europe over the last twenty years, in particular on the behavior of the labor share. Second, to look at political economy interactions between product and labor market deregulation
Looking for contagion : evidence from the ERM by Carlo A Favero( Book )

23 editions published in 2000 in English and held by 150 WorldCat member libraries worldwide

This paper applies a full-information technique to test for the presence of contagion across the money markets of ERM member countries. We show that whenever it is possible to estimate a model for interdependence, a test for contagion based on a full information technique is more powerful. We test for the presence of contagion after having identified episodes of country-specific shocks, whose effects on other European markets are significantly different from those predictable from the estimated channels of interdependence. Using data on three-months interest rate spreads on German rates for seven countries over the period 1988-1992, we are unable to reject the null of contagion. Our evidence suggest that contagion within the ERM was a general phenomenon, not limited to a subset of weaker countries, the exception in the sample being France. Our results are mute as to the question of what lies behind these episodes of contagion; they show, however, that it is not always true that one only detects contagion when one applies poor statistical techniques
Economic and political liberalizations by Francesco Giavazzi( )

25 editions published in 2004 in English and Undetermined and held by 146 WorldCat member libraries worldwide

This paper studies empirically the effects of and the interactions amongst economic and political liberalizations. Economic liberalizations are measured by a widely used indicator that captures the scope of the market in the economy, and in particular of policies towards freer international trade (cf. Sachs and Werner 1995, Wacziarg and Welch 2003). Political liberalizations correspond to the event of becoming a democracy. Using a difference-in-difference estimation, we ask what are the effects of liberalizations on economic performance, on macroeconomic policy and on structural policies. The main results concern the quantitative relevance of the feedback and interaction effects between the two kinds of reforms. First, we find positive feedback effects between economic and political reforms. The timing of events indicates that causality is more likely to run from political to economic liberalizations, rather than viceversa, but we cannot rule out feedback effects in both directions. Second, the sequence of reforms matters. Countries that first liberalize and then become democracies do much better than countries that pursue the opposite sequence, in almost all dimensions
The U.S. current account and the dollar by Olivier Blanchard( )

25 editions published in 2005 in English and held by 143 WorldCat member libraries worldwide

"There are two main forces behind the large U.S. current account deficits. First, an increase in the U.S. demand for foreign goods. Second, an increase in the foreign demand for U.S. assets. Both forces have contributed to steadily increasing current account deficits since the mid--1990s. This increase has been accompanied by a real dollar appreciation until late 2001, and a real depreciation since. The depreciation has accelerated recently, raising the questions of whether and how much more is to come, and if so, against which currencies, the euro, the yen, or the renminbi. Our purpose in this paper is to explore these issues. Our theoretical contribution is to develop a simple portfolio model of exchange rate and current account determination, and to use it to interpret the past and explore alternative scenarios for the future. Our practical conclusions are that substantially more depreciation is to come, surely against the yen and the renminbi, and probably against the euro"--National Bureau of Economic Research web site
Searching for non-linear effects of fiscal policy : evidence from industrial and developing countries by Francesco Giavazzi( Book )

23 editions published between 1999 and 2000 in English and held by 142 WorldCat member libraries worldwide

Several recent studies suggest that the response of national saving to fiscal policy may be non-linear. In this paper we use two data sets to search for the circumstances in which such non-linear responses may arise: a sample of OECD countries used in previous studies, and sample of developing countries, using more recent World Bank data. We find that in both samples non-linear effects tend to be associated with large and persistent fiscal impulses. In the OECD sample the non-linearity of the response is stronger for fiscal contractions than for expansions. An increase in net taxes has no effect on national saving during large fiscal contractions, while it has a positive effect in less pronounced contractions. High or rapidly growing public debt does not appear to be a good predictor of non-linear effects. In the World Bank sample of developing countries, non-linearities in the response national saving to fiscal policy are not limited to large fiscal contractions, and also tend to occur in periods in which debt is accumulating rapidly, regardless of its initial level
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The future of Europe : reform or decline
Inflation targeting, debt, and the Brazilian experience, 1999 to 2003External evaluation of IMF economic research activities : reportEurope and the euroMacroeconomicsThe European monetary systemAdjustment and growth in the European Monetary UnionTransparency, risk management and international financial fragility
Alternative Names
Francesco Giavazzi eacnamaí Iodálach

Francesco Giavazzi economista italià

Francesco Giavazzi economista italiano

Francesco Giavazzi economista italianu

Francesco Giavazzi économiste italien

Francesco Giavazzi ekonomist italian

Francesco Giavazzi Italiaans econoom

Francesco Giavazzi Italian economist

Francesco Giavazzi italienischer Wirtschaftswissenschaftler

Francesco Giavazzi italiensk ekonom

Francesco Giavazzi italiensk økonom

Giavazzi, F.

Giavazzi, F. 1949-

Франческо Джавацци

지아바치, 프란체스코 1949-

프란체스코 자바치 이탈리아 경제학자

English (451)

Italian (17)

Spanish (12)

German (1)