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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
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Should monetary policy lean against the wind? An analysis based on a DSGE model with banking
Gambacorta, Leonardo; Signoretti, Federico M. - Banca d'Italia - 2013
The global financial crisis has reaffirmed the importance of financial factors for macroeconomic fluctuations. Recent work has shown how the conventional pre-crisis prescription that monetary policy should pay no attention to financial variables over and above their effects on inflation may no...
Persistent link: https://www.econbiz.de/10011099720
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Banks� Riskiness Over the Business Cicle: a Panel Analysis on Italian Intermediaries
Quagliariello, Mario - Banca d'Italia - 2006
Supervisors and policy makers pay increasing attention to the possible procyclical nature of banks� behaviour. Indeed, to guarantee macro and financial stability, it is important to understand whether, and to what extent, banks are affected by the macroeconomy and second round effects...
Persistent link: https://www.econbiz.de/10005609327
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The Italian financial cycle: 1861-2011
Bonis, Riccardo De; Silvestrini, Andrea - Banca d'Italia - 2013
by issuing new debt securities. Second, the Italian financial cycle has a much longer duration than traditional business …
Persistent link: https://www.econbiz.de/10011099684
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Identifying and tracking global, EU and Eurozone systemically important banks with public data
Masciantonio, Sergio - Banca d'Italia - 2013
This paper develops a methodology for identifying systemically important financial institutions based on that developed by the Basel Committee on Banking Supervision (2011) and used by the Financial Stability Board in its yearly G-SIBs identification. The methodology uses publicly available data...
Persistent link: https://www.econbiz.de/10011099597
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Real effects of banking crises: a survey of the literature
Carpinelli, Luisa - Banca d'Italia - 2009
The literature is unanimous in highlighting that banking crises have a negative impact on GDP, usually more pronounced in developing economies. The magnitude of the losses is more controversial: the quantitative results of studies on the repercussions of banking crises on economic activity, in...
Persistent link: https://www.econbiz.de/10008546340
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Economic Theory and Banking Regulation: The Italian Case (1861-1930s)
Gigliobianco, Alfredo; Giordano, Claire - Banca d'Italia - 2010
The paper provides a qualitative assessment of the role mainstream economic theory had in orienting Italy's banking legislation from its political unification (1861) to the introduction of the 1936 Banking Act. Five regulatory regimes are considered. Whilst market discipline and self-regulation...
Persistent link: https://www.econbiz.de/10008765709
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Externalities in interbank network: results from a dynamic simulation model
Manna, Michele; Schiavone, Alessandro - Banca d'Italia - 2012
In this paper we conduct a simulation run on a sample of Italian banks where a trigger shock, a one-off event fairly large in size, spreads through the interbank network in a set-up featuring among the actors both commercial banks and the authorities. The banks deleverage to comply with a...
Persistent link: https://www.econbiz.de/10011099690
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A microsimulation model to evaluate Italian households’ financial vulnerability
Michelangeli, Valentina; Pietrunti, Mario - Banca d'Italia - 2014
-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’ indebtedness and debt-service ratio. This allows us to assess households’ vulnerability … vulnerable households (defined as those with a debt-service ratio above 30 per cent and income below the median) over the total …
Persistent link: https://www.econbiz.de/10011184259
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The sovereign debt crisis and the euro area
Grande, Giuseppe; Neri, Stefano; Siviero, Stefan - Banca d'Italia - 2013
This publication collects the papers presented at the workshop entitled "The sovereign debt crisis and the euro area … Area of the Bank of Italy has conducted several analyses on the impact of the sovereign debt crisis on the financial system … mechanisms whereby the tensions in the government bond markets due to the sovereign debt crisis were transmitted to the banking …
Persistent link: https://www.econbiz.de/10011277929