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What determines annuity demand at retirement?

Cappelletti, Giuseppe; Guazzarotti, Giovanni; … - Banca d'Italia - 2011

pension plans, which mostly leave to the worker the choice between ashing-in or annuitizing pension wealth at retirement …

Persistent link: https://www.econbiz.de/10009020150

Supplementary pension schemes in Italy: features, development and opportunities for workers

Cesari, Riccardo; Grande, Giuseppe; Panetta, Fabio - Banca d'Italia - 2007

increase workers' retirement wealth. Data show that returns on supplementary pension funds may be greater than the revaluation … retirement wealth held in pension funds a degree of flexibility comparable to that of the Tfr. The paper shows that scale … essential in stimulating competition and allowing workers to move freely from expensive retirement schemes to schemes charging …

Persistent link: https://www.econbiz.de/10005113692

Do wealth fluctuations generate time-varying risk aversion? Italian micro-evidence on household asset allocation

Cappelletti, Giuseppe - Banca d'Italia - 2012

Data from the Italian Survey of Households Income and Wealth (SHIW) are used to study portfolio allocations change in response to fluctuations in wealth. In particular I test for the prediction of models with habit formation that changes in liquid wealth will affect households' risk aversion and...

Persistent link: https://www.econbiz.de/10009645787

A microsimulation model to evaluate Italian households’ financial vulnerability

Michelangeli, Valentina; Pietrunti, Mario - Banca d'Italia - 2014

We build a microsimulation model to monitor the financial vulnerability of Italian households. Starting from household-level data from the Survey on Household Income and Wealth and matching them with macroeconomic forecasts on debt and income, we project the future path of households’...

Persistent link: https://www.econbiz.de/10011184259

Householdsï¿½ indebtedness and financial vulnerability in the Italian regions

Vacca, Valerio; Coin, Daniele; Conti, Antonio Maria; … - Banca d'Italia - 2013

This paper depicts ï¿½ from a variety of viewpoints ï¿½ the degree of indebtedness and potential financial vulnerabilities of households across the Italian regions. Micro-data from several sources suggest that the financial situation of Italian households shows striking differences at...

Persistent link: https://www.econbiz.de/10011100383

Does financial education at school work? Evidence from Italy

Romagnoli, Angela; Trifilidis, Maurizio - Banca d'Italia - 2013

In the 2008-09 school year the Bank of Italy and the Italian Ministry of Education started an experimental program to incorporate financial education into school curricula. This paper describes the experience since then. According to the program, teachers receive training from the Bank on...

Persistent link: https://www.econbiz.de/10011100387

The Italian mortgage market: characteristics, evolution and regional differences. Evidence from a bank survey

Rossi, Paola - Banca d'Italia - 2008

The paper reviews the supply of different mortgage instruments to Italian households by means of data obtained from a survey conducted in 2007 by the Bank of Italy over more than 300 banks. The results document significant innovations in housing finance in the last five years: a greater variety...

Persistent link: https://www.econbiz.de/10005113690

Technical progress, retraining cost and early retirement

Burlon, Lorenzo; Montserrat Vilalta-Bufï¿½ - Banca d'Italia - 2014

Technological progress affects early retirement in two opposing ways. On the one hand, it increases real wages and thus … produces an incentive to postpone retirement. On the other hand, it erodes workers' skills, making early retirement more likely …. Using the Health and Retirement Study surveys, we re-examine the effect of technical progress on early retirement, finding …

Persistent link: https://www.econbiz.de/10011099701

Fiscal Policy and Macroeconomic Imbalances

Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014

The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...

Persistent link: https://www.econbiz.de/10011277938

Households' savings in China

Cristadoro, Riccardo; Marconi, Daniela - Banca d'Italia - 2011

This paper studies the determinants of Chinese householdsï¿½ saving. Domestic saving in China is the highest in the world in terms of GDP and it is mirrored in a large and persistent current account surplus. First, we show that notwithstanding the rising contribution of government and firms...

Persistent link: https://www.econbiz.de/10009386393