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The Italian Business Cycle: Coincident and Leading Indicators and Some Stylized Facts.
Altissimo, F.; Marchetti, D.J.; Oneto, G.P. - Banca d'Italia - 2000
This paper analyses the business cycle properties of 183 time series relevant to the Italian economy, including real, monetary and international variables. We propose new monthly coincident and leading composite indicators for the Italian business cycle; the leading indicator anticipates the...
Persistent link: https://www.econbiz.de/10005486716
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The Italian Business Cycle; Coincident and Leading Indicators and Some Stylized Facts
Altissimo, Filippo; Marchetti, Domenico J.; Oneto, Gian … - Banca d'Italia - 2000
This paper analyses the business cycle properties of 183 time series relevant to the Italian economy, including real, monetary and international variables. We propose new monthly coincident and leading composite indicators for the Italian business cycle; the leading indicator anticipates the...
Persistent link: https://www.econbiz.de/10005113618
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Gradualism, transparency and the improved operational framework: a look at the overnight volatility transmission
Colarossi, Silvio; Zaghini, Andrea - Banca d'Italia - 2009
This paper proposes a possible way of assessing the effect on interest rate dynamics of changes in the decision-making approach, in the communication strategy and in the operational framework of a central bank. Through a GARCH specification we show that the US and the euro area displayed a...
Persistent link: https://www.econbiz.de/10004980173
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Leaving home and housing prices. The experience of Italian youth emancipation
Modena, Francesca; Rondinelli, Concetta - Banca d'Italia - 2011
This paper provides an explanation for the postponement of youth emancipation in the Italian context mainly characterized by a sharp increase in both house and rent prices together with stagnant disposable income over the past decade. We first assemble a unique database related to the housing...
Persistent link: https://www.econbiz.de/10009320173
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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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The performance of the Italian housing market and its effects on the financial system
Panetta, Fabio; Bianchi, Michele Leonardo; Bofondi, Marcello - Banca d'Italia - 2009
Developments in the real-estate sector are of crucial importance for the business cycle and financial stability. This study analyses developments in the Italian housing market on the basis of both real and financial variables. Following the sharp contraction of the market during the financial...
Persistent link: https://www.econbiz.de/10008474175
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Economic and financial conditions of households in Lombardy
Cannari, Luigi; D'Alessio, Giovanni; Mori, Alessandra - Banca d'Italia - 2011
This paper presents the main findings of the Survey on Household Income and Wealth for the Italian region of Lombardy. To get a large enough sample, the observations on 2004, 2006, and 2008 were pooled. The work sets out the structural characteristics for Lombardy prior to the crisis, with...
Persistent link: https://www.econbiz.de/10009147376
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Prices of residential property in Italy: constructing a new indicator
Muzzicato, Salvatore; Sabbatini, Roberto; Zollino, Francesco - Banca d'Italia - 2008
We present a new indicator of house prices in Italy, with more extensive geographical and time coverage. The new indicator now makes it possible to analyze medium- and long-term trends with satisfactory representation of the Italian housing market. It also allows for timely updating, for prompt...
Persistent link: https://www.econbiz.de/10005467324
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Bond risk premia, macroeconomic fundamentals and the exchange rate
Pericoli, Marcello; Taboga, Marco - Banca d'Italia - 2009
between macroeconomic variables and time-varying bond risk premia. Estimating the model with US and German data, we obtain an … find that time-varying risk premia play a non-negligible role in exchange rate fluctuations due to the fact that a currency … tends to appreciate when risk premia on long-term bonds denominated in that currency rise. A number of other novel empirical …
Persistent link: https://www.econbiz.de/10005113551
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Simple banking: profitability and the yield curve
Alessandri, Piergiorgio; Nelson, Benjamin - Banca d'Italia - 2014
How does bank profitability vary with interest rates? We present a model of a monopolistically competitive bank subject to repricing frictions, and test the model�s predictions using a unique panel data set on UK banks. We find evidence that large banks retain a residual exposure to...
Persistent link: https://www.econbiz.de/10011099664