Showing 1 - 10 of 43
The paper explores the view that the Asian currency and financial crises in 1997 and 1998 reflected structural and policy distortions in the countries of the region, even though market overreaction and herding caused the plunge of exchange rates, asset prices and economic activity to be more...
Persistent link: https://www.econbiz.de/10005111544
We exploit a gravity model to study the main determinants of cross-border financial flows and to identify those flows that appear to be abnormally above the predicted value. Our data include all Italian cross-border bank transfers that took place between 2007 and 2010. We find that, other things...
Persistent link: https://www.econbiz.de/10011100369
This paper proposes a conceptual framework that makes it possible to investigate the effects of central bank independence, the degree of centralization of wage bargaining and the interaction between those institutional variables on the real wage, unemployment and inflation. This is done by...
Persistent link: https://www.econbiz.de/10005111579
This paper analyzes the Italian segment of the Eurozone money market since the start of the European Monetary Union. Some relevant variables are analyzed at different frequencies (intramonth, intraweek and intraday); both level and volatily of the overnight interest rate, volume exchanged in the...
Persistent link: https://www.econbiz.de/10005113525
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
The prominent role assigned to money by the ECB has been the subject of an intense debate because of the declining predictive power of the monetary aggregate M3 for inflation in recent years. This paper reassesses the information content of monetary analysis for future inflation using dynamic...
Persistent link: https://www.econbiz.de/10004980170
This paper proposes a comparative analysis of the main macroeconomic aggregates (both real and credit aggregates), and the monetary policy response during the most severe recessions experienced by the Italian economy. This descriptive study focuses mainly on the last forty years, a period for...
Persistent link: https://www.econbiz.de/10004987433
Persistent link: https://www.econbiz.de/10005486713
This paper is about how to evaluate credit and insurance programs like the Gramee Bank in Bangladesh; Accio, Prodem/Banco Sol in Bolivia, and the Badan Kredit Kacamatan (BKK), Indonesia, and how to formulate policy regarding financial sector reform.
Persistent link: https://www.econbiz.de/10005640922
A standard model-based trend-cycle decomposition of Italian GDP yields a likelihood function that is relatively flat and has two local maxima. A Bayesian estimation of the model identifies output gap and trend components that match the features of the Italian business cycle well. In a bivariate...
Persistent link: https://www.econbiz.de/10011099696