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An assessment of financial sector rescue programmes
Panetta, Fabio; Faeh, Thomas; Grande, Giuseppe; Ho, Corrinne - 2009
Persistent link: https://www.econbiz.de/10013437456
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Supply tightening or lack of demand? An analysis of credit developments during the Lehman Brothers and the sovereign debt crises
Giovane, Paolo Del; Nobili, Andrea; Signoretti, … - Banca d'Italia - 2013
We estimate a structural econometric model for the credit market in Italy, using bank-level information and the … responses of Italian banks to the euro-area Bank Lending Survey to identify demand and supply, focusing on the recent financial … the sovereign debt crisis reflected the common shock of the widening sovereign spread, not idiosyncratic bank funding …
Persistent link: https://www.econbiz.de/10011099728
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Financial fragility and growth prospects: credit rationing during the crisis
Albareto, Giorgio; Russo, Paolo Finaldi - Banca d'Italia - 2012
This paper analyzes firms� difficulties in accessing credit before and during the crisis, by focusing on two of their characteristics: financial fragility and growth prospects. Our econometric analysis indicates that fragile financial conditions were associated with a much higher than...
Persistent link: https://www.econbiz.de/10011100390
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Il debito commerciale in Italia: quanto contano le motivazioni finanziarie?
Russo, Paolo Finaldi; Leva, Luigi - Banca d'Italia - 2004
an ad hoc survey of Bank of Italy on trade credit, from Italian Central Credit Register on banking relations and from … demand. The Bank of Italy survey shows that financial motives are less frequent than transactive ones; nevertheless we find a …
Persistent link: https://www.econbiz.de/10005113604
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Social mobility and endogenous cycles in redistribution
Zollino, Francesco - Banca d'Italia - 2004
By allowing median voter�s location and preferred policy to change over time, a variety of redistributive policies results in the long-run with no unique relationship to inequality. Single outcome depends on the interaction between the pure economic structure and policy action in...
Persistent link: https://www.econbiz.de/10005113658
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The interbank market after the financial turmoil: squeezing liquidity in a "lemons market" or asking liquidity "on tap"
Socio, Antonio De - Banca d'Italia - 2011
After August 2007 the plumbing system that supplied banks with wholesale funding, the interbank market, failed because toxic assets obstructed the pipes. Banks were forced to squeeze liquidity in a �lemons market� or to ask for liquidity �on tap� from central banks. This...
Persistent link: https://www.econbiz.de/10009320176
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On the interaction between market and credit risk: a factor-augmented vector autoregressive (FAVAR) approach
Fiori, Roberta; Iannotti, Simonetta - Banca d'Italia - 2010
The aim of the paper is to understand the interaction between market and credit risk. Using a comprehensive set of Italian data, we apply a factor model to identify the common sources of risk driving fluctuations in the real and financial sectors. The common latent factors are then inserted in a...
Persistent link: https://www.econbiz.de/10008692068
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An analysis of the determinants of credit default swap spread changes before and during the subprime financial turmoil
Cesare, Antonio Di; Guazzarotti, Giovanni - Banca d'Italia - 2010
This paper analyzes the determinants of credit default swap spread changes for a large sample of US non-financial companies over the period between January 2002 and March 2009. In our analysis we use variables that the literature has found have an impact on CDS spreads and, in order to account...
Persistent link: https://www.econbiz.de/10008626020
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Dynamic provisioning: rationale, functioning, and prudential treatment
Burroni, Marco; Quagliariello, Mario; Sabatini, Emiliano; … - Banca d'Italia - 2009
Current policy debate has renewed interest in countercyclical provisioning policies; dynamic provisions are regarded as a valuable device for pursuing this goal. Last July, Ecofin supported "the introduction of forward-looking provisioning, which consists in constituting provisions deducted from...
Persistent link: https://www.econbiz.de/10008472087