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The effect of investment tax credit: Evidence from an atypical programme in Italy

Bronzini, Raffaello; Blasio, Guido de; Pellegrini, Guido; … - Banca d'Italia - 2008

This paper examines how business investment responds to investment tax credit, as enacted by Italyï¿½s Law 388/2000. To assess whether the programme made investments possible that otherwise would not have been made, it exploits some features of the tax credit scheme, such as the fact that...

Persistent link: https://www.econbiz.de/10005609409

Do interbank customer relationships exist? And how did they function in the crisis? Learning from Italy

Affinito, Massimiliano - Banca d'Italia - 2011

Using 11 years of monthly Italian bank-by-bank data, this paper correlates the bilateral amounts and the identity of each interbank borrower and lender with a long list of explanatory variables. The results show that interbank customer relationships, i.e. stable and strong relationships between...

Persistent link: https://www.econbiz.de/10009364553

Why do (or did?) banks securitize their loans? Evidence from Italy

Affinito, Massimiliano; Tagliaferri, Edoardo - Banca d'Italia - 2010

This paper investigates the ex-ante determinants of bank loan securitization by using different econometric methods on Italian individual bank data from 2000 to 2006. Our results show that bank loan securitization is a composite decision. Banks that are less capitalized, less profitable, less...

Persistent link: https://www.econbiz.de/10008480534

What do we learn from recall consumption data?

Battistin, Erich; Miniaci, Raffaele; Weber, Guglielmo - Banca d'Italia - 2003

In this paper we use two complementary Italian data sources (the 1995 Istat and Bank of Italy household surveys) to generate household-specific non-durable expenditure in the Bank of Italy sample that contains relatively high-quality income data. We show that food expenditure data are of...

Persistent link: https://www.econbiz.de/10005609348

The impact of the financial crisis on inter-bank funding: evidence from Italian balance sheet data

Cappelletti, Giuseppe; Socio, Antonio De; Guazzarotti, … - Banca d'Italia - 2011

We analyze the impact of the financial crisis on the structure and the dynamics of the Italian inter-bank market, focusing on monthly banksï¿½ assets and liabilities data between January 2007 and December 2010. The analysis is developed using an ad hoc dataset based on supervisory reports....

Persistent link: https://www.econbiz.de/10009193019

Welcome to the machine: firms' reaction to low-skilled immigration

Accetturo, Antonio; Bugamelli, Matteo; Lamorgese, Andrea - Banca d'Italia - 2012

We assess the impact of low-skilled immigration on capital intensity. We first present a model characterized by … the model on a sample of Italian manufacturing firms over the period 1996-2007, finding that increased immigration of low … and network effects, raises capital intensity. In line with the predictions of the theoretical model, the impact of …

Persistent link: https://www.econbiz.de/10009645789

Adverse Selection of Investment Projects and the Business Cycle

Reichlin, P.; Siconolfi, P. - Banca d'Italia - 1998

In an economy where entrepreneurs with unequal "abilities" face alternative investment projects, which differ in degree of risk and productivity, we analyse the Nash equilibrium contracts arising from a banks-borrowers game in the context of asymmetric information. We show that, for a particular...

Persistent link: https://www.econbiz.de/10005780673

Firm investment and monetary transmission in the euro area

Chatelain, J. B.; Generale, Andrea; Hernando, I.; … - Banca d'Italia - 2001

We present a comparable set of results on the monetary transmission channels on firm investment for the four largest countries of the euro area (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing over 215,000 observations from 1985 to 1999, we...

Persistent link: https://www.econbiz.de/10005113530

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

The profit share and return on capital in Italy: a tentative interpretation

Torrini, Roberto - Banca d'Italia - 2005

Profit share in Italy has been growing between the mid-1970s and the mid-1990s, remaining stable at historically high levels since than. After dropping in the first half of the 1970s, owing to an unprecedented rapid rise in wages, profit share started to recover. The rise during the 1980s...

Persistent link: https://www.econbiz.de/10005770758