We find evidence of a bank lending channel for the euro area operating via bank risk. Financial innovation and the new … ways to transfer credit risk have tended to diminish the informational content of standard bank balance-sheet indicators …. We show that bank risk conditions, as perceived by financial market investors, need to be considered, together with the …

the Bank of Italy�s quarterly model. For 2015-16 the purchase programme can be expected to make a significant … largest contribution is judged to come through the depreciation of the euro and the reduction in the interest rates on … government securities and bank loans. These effects are comparable in magnitude to those found by studies on the securities …

This publication collects the papers presented at the workshop entitled "The sovereign debt crisis and the euro area …", held at the Bank of Italy in Rome on 15 February 2013. In recent years the Economic Research and International Relations … Area of the Bank of Italy has conducted several analyses on the impact of the sovereign debt crisis on the financial system …

second session dealt with the specific problems of the euro area, where insufficient attention to macroeconomic developments …

. Empirical evidence for the euro area suggests that the three constraints have become increasingly tight recently. …

existing empirical evidence on their effectiveness, focusing on those adopted by the European Central Bank and by the Federal … former, the central bank can use communication to steer interest rates and to restore confidence in the financial markets …

We quantitatively assess the macroeconomic effects of country-specific supply-side reforms in the euro area by … Germany (or, alternatively, Portugal) and the rest of the euro area. Our main results are as follows. First, a unilateral … by each country in the euro area will produce positive effects, cross-country coordination produces larger and more …

loan supply from loan demand shift in the bank lending channel literature. The results, derived from a sample of Italian …-through on the interest rate on current accounts depends mainly on banks� liability structure. Bank size is never relevant. …