937. Between Theory and Reality: Growth analysis of Italy in the Post-Keynesian Framework

Federica Arena

Roma Tre University

Abstract

This study aims to advance the analysis of Italian economic growth by examining the long-term relationship between autonomous demand and GDP through time series econometrics, while providing a comparative assessment of autonomous demand multipliers. The econometric analyzes support two key conclusions: first, that autonomous demand has been the long-term growth engine in Italy; and second, that the economic slowdown following Italy’s accession to the EU may have been driven by the low multiplier values associated with exports.

Keywords

Supermultiplier Model, Italian Economic Growth, Vector Error Correction Model (VECM), Local Projections, Multipliers

Jel Codes

C32, E12, E62