| Summary: | <p class="FreeForm"><span lang="EN-US">The work assesses the role of monetary policy in Italy. An overall definition of the operational indications arising out of monetarism is provided before they are compared with the objectives and strategies of Italian monetary policy. It is shown that, despite the diffusion of the monetarist theses, the Bank of Italy’s analysis and strategy in recent years have been moving in the opposite direction, with the role of the stock of money being significantly reduced. The author examines how far this evolution is justified by the corresponding evolution of the financial system.</span></p><p class="FreeForm"><span lang="EN-US"> </span></p><p class="FreeForm">JEL: E52, E58, E44</p>
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