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Strategy and tactics in public debt management

Dottori, Davide; Manna, Michele - Banca d'Italia - 2015

positions on the long-term bond is actually narrower than predicted by rules of thumb based on Sharpe-like ratios. Once the …

Persistent link: https://www.econbiz.de/10011207927

What determines the size of bank loans in industrialized countries? The role of government debt

Bonis, Riccardo De; Stacchini, Massimiliano - Banca d'Italia - 2009

Given the importance of banking intermediation, we investigate the determinants of the size of bank loans in 18 OECD countries in the period 1981-1997. The aim of the paper is to show that the ratio of government debt to GDP has a negative effect on the level of bank credit. Second, countries...

Persistent link: https://www.econbiz.de/10005642128

First-time corporate bond issuers in Italy

Accornero, Matteo; Russo, Paolo Finaldi; Guazzarotti, … - Banca d'Italia - 2015

The paper looks at the characteristics of Italian non-financial firms that accessed the bond market for the first time … between 2002 and 2013. The results of logit estimations indicate that first-time bond issuers are significantly larger and … more frequently listed on the stock exchange than firms not issuing bonds. We also find that their decision to enter the …

Persistent link: https://www.econbiz.de/10011265437