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Pericoli, Marcello; Sbracia, Massimo - Banca d'Italia - 2001

This paper presents a unified framework to highlight possible channels for the international transmission of financial shocks. We first review the different definitions and measures of contagion used in the literature. We then use a simple multi-country asset pricing model to cast the main...

Persistent link: https://www.econbiz.de/10005609346

Extreme value theory for finance: a survey

Rocco, Marco - Banca d'Italia - 2011

Extreme value theory is concerned with the study of the asymptotical distribution of extreme events, that is to say events which are rare in frequency and huge with respect to the majority of observations. Statistical methods derived from this theory have been increasingly employed in finance,...

Persistent link: https://www.econbiz.de/10009193022

Correlation Analysis of Financial Contagion: What One Should Know before Running a Test

Corsetti, Giancarlo; Pericoli, Marcello; Sbracia, Massimo - Banca d'Italia - 2001

This paper presents a general test of contagion in financial markets based on bivariate correlation analysis ï¿½ a test that can be interpreted as an extension of the normal correlation theorem. Contagion is defined as a structural break in the data generating process of rates of return....

Persistent link: https://www.econbiz.de/10005467302

Optimal Duplication of Effort in Advocacy Systems

Palumbo, Giuliana - Banca d'Italia - 2004

creation of advocates of special interests, as opposed to non-partisans, generates an efficient mechanism of mutual monitoring … that reduces the scope for manipulation. Such monitoring is preferable over imposing penalties for detected manipulation …

Persistent link: https://www.econbiz.de/10005609362

Monetary incentives vs. monitoring in addressing absenteeism: experimental evidence

D'Amuri, Francesco - Banca d'Italia - 2011

relative importance of monitoring and monetary incentives in determining a basic measure of effort: presence at work. When … stricter monitoring was introduced together with an average 20% cut in replacement rates for civil servants on short sick leave … substantially decreased when a subsequent policy change brought back monitoring to the pre-reform level, while leaving monetary …

Persistent link: https://www.econbiz.de/10008835082

Costs and benefits of creditor concentration: An empirical approach

Carmignani, Amanda; Omiccioli, Massimo - Banca d'Italia - 2007

predicted by the literature on relationship banking. But these benefits do not come without costs: i) enhanced monitoring is …

Persistent link: https://www.econbiz.de/10005467311

Human capital, technical change and the welfare state

Benabou, Ronald - Banca d'Italia - 2002

I study the interactions between the distribution of human capital, technological choice, and redistributive institutions. I first ask what makes alternative social contracts such as a European-style "welfare state" and US-style "laissez-faire" sustainable, and in particular how each is affected...

Persistent link: https://www.econbiz.de/10005113533

Job Search in Thick Markets: Evidence from Italy

Addario, Sabrina Di - Banca d'Italia - 2006

I analyze empirically the effects of both urban and industrial agglomeration on menï¿½s and womenï¿½s search behavior and on the efficiency of matching. The analysis is based on a unique panel data set from the Italian Labor Force Survey micro-data, which covers 520 randomly drawn Local...

Persistent link: https://www.econbiz.de/10005609325

Industry in the South of Italy and the crisis

Bronzini, Raffaello; Cannari, Luigi; Staderini, Alessandra - Banca d'Italia - 2013

In the last decade, and especially in the course of the recent global economic slowdown, the gap between southern and northern industry has widened. Industrial investment and employment decreased more sharply in the South than in the rest of Italy, and the contribution of the southern regions to...

Persistent link: https://www.econbiz.de/10011100337

Lï¿½utilizzo degli indicatori compositi nell'analisi congiunturale territoriale: un'applicazione all'economia del Veneto

Chiades, Paolo; Gallo, Massimo; Venturini, Andrea - Banca d'Italia - 2003

This paper analyses the business cycle properties of 150 time series, including real and monetary variables, relevant to the regional economy. Following the methodology adopted by Altissimo, Marchetti and Oneto (2000), we propose new monthly coincident and leading composite indicators for the...

Persistent link: https://www.econbiz.de/10005113679