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Lending organizational structure and the use of credit scoring: evidence from a survey on Italian banks

Albareto, Giorgio; Benvenuti, Michele; Mocetti, Sauro; … - Banca d'Italia - 2008

This paper examines the results of a survey carried out in 2007 by the Bank of Italy concerning different characteristics of the organization of lending activities. Between 2003 and 2006 the physical distance between the headquarters and the branches increased, the limits to the decision-making...

Persistent link: https://www.econbiz.de/10005113688

Financial inclusion - G20 initiatives and the role of the Bank of Italy

Gomel, Giorgio; Bernasconi, Fabio; Cartechini, … - Banca d'Italia - 2011

Financial exclusion concerns 2.5 billion individuals and more than 450 million enterprises. The G20 countries are committed to the reduction of this phenomenon. The Bank of Italy has a fundamental role in the field of financial inclusion, both on a national and an international scale through...

Persistent link: https://www.econbiz.de/10009193018

Trust and preferences: evidence from survey data

Albanese, Giuseppe; Blasio, Guido de; Sestito, Paolo - Banca d'Italia - 2013

This paper considers the role of preferences in explaining trust. By using the Bank of Italyï¿½s Survey on Household …-reported trust. They both predict negatively a measure of generalized trust; however, risk aversion is positively correlated with an … preferences when analysing the role of trust in explaining socio-economic outcomes might pose serious challenges in terms of …

Persistent link: https://www.econbiz.de/10011105132

Social capital and the cost of credit: evidence from a crisis

Mistrulli, Paolo Emilio; Vacca, Valerio - Banca d'Italia - 2015

Social capital is a key factor affecting the functioning of financial markets (Guiso, Sapienza and Zingales, 2004). However, the estimation of the effect of social capital on credit markets is notoriously difficult. In this paper we exploit the recent Lehman Brothers crisis and a rich dataset to...

Persistent link: https://www.econbiz.de/10011265441

Ita-coin: a new coincident indicator for the Italian economy

Aprigliano, Valentina; Bencivelli, Lorenzo - Banca d'Italia - 2013

In this paper we present a coincident indicator for the Italian economy, Ita-coin. We construct a multivariate filter based on a broad information set, whose dimension is reduced by the Generalized Dynamic Factor Model (GDFM) approach proposed by Forni et al. (2002). A regression based on the...

Persistent link: https://www.econbiz.de/10011099638

Portfolio Selection with Monotone Mean-Variance Preferences

Maccheroni, Fabio; Marinacci, Massimo; Rustichini, Aldo; … - Banca d'Italia - 2008

We propose a portfolio selection model based on a class of monotone preferences that coincide with mean-variance preferences on their domain of monotonicity, but differ where mean-variance preferences fail to be monotone and are therefore not economically meaningful. The functional associated to...

Persistent link: https://www.econbiz.de/10005113531

Investment and Growth in Europe and in the United States in the Nineties

Caselli, Paola; Pagano, Patrizio; Schivardi, Fabiano - Banca d'Italia - 2000

The paper analyses the sharp divergence in the nineties between capital formation in the main euro area countries, on the one hand, and the United States, on the other. We have used data from the OECD's International Sectoral Data Base (ISDB), which includes data comparable across a certain...

Persistent link: https://www.econbiz.de/10005196846

Memory for prices and the euro cash changeover: An analysis for cinema prices in Italy

Cestari, Vincenzo; Giovane, Paolo Del; Rossi-Arnaud, Clelia - Banca d'Italia - 2007

The question addressed by this study is whether consumers remember past prices correctly. We test Italian citizensï¿½ memory for cinema prices with questionnaires distributed to moviegoers. The analysis concentrates on the memory of pre-euro prices, but the recall for a more recent period is...

Persistent link: https://www.econbiz.de/10005770754

THE ROLE OF RISK AVERSION IN PREDICTING INDIVIDUAL BEHAVIOR

Guiso, Luigi; Paiella, Monica - Banca d'Italia - 2005

We use household survey data to construct a direct measure of absolute risk aversion based on the maximum price a consumer is willing to pay to buy a risky asset. We relate this measure to a set of consumersï¿½ decisions that in theory should vary with attitude towards risk. We find that...

Persistent link: https://www.econbiz.de/10005770780

Central bank and government in a speculative attack model

Cappelletti, Giuseppe; Esposito, Lucia - Banca d'Italia - 2013

This paper studies the interaction between monetary and fiscal authorities while investors are coordinating on a speculative attack. The authorities want to achieve specific targets for output and inflation but also to avoid a regime change (i.e. sovereign default). They use the traditional...

Persistent link: https://www.econbiz.de/10011099682