Impatto della regola di un vincolo di bilancio corretto per l’output gap, e rapporto debito/Pil, nell’analisi di Steve del 1950 e nella problematica attuale. Una verifica empirica sui paesi OCSE ed Europei
Steve’s 1950 paper “Considerazioni sulla politica di bilancio” (On budgetary policy) is still extraordinarily relevant 65 years after its publication in Studi Urbinati (Annals of the University of Urbino), for its several hints on the budget balance rules in relation to both the public debt burden on GDP and the EU fiscal compact rules. These rules consider the structural budget in relation to potential output, thus taking into account the changes due to reforms.