Italy is a high savings country. Its households dispose of a net worth of around 10 thousand billion euro and financial assets of over 4 thousand billion euro. This means that in principle the national public debt of around 2 thousand billion euro cou …
The view that deficits and higher public debt can be beneficial has received an important boost through the recent presidential address of Prof. Olivier Blanchard at the American Economic Association, entitled: “Public debt and low interest rates”. A new editorial by Daniel Gros.