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An empirical investigation of the relationship between inequality and growth

Pagano, Patrizio - Banca d'Italia - 2004

This paper studies the correlation between inequality, measured by the Gini coefficent of incomes, and the growth rate of per capita GDP in a panel of countries between the late 1950s and late 1990s. Inequality Granger causes growth with a negative coefficient, while growth Granger causes...

Persistent link: https://www.econbiz.de/10005609408

Do Better Institutions Mitigate Agency Problems? Evidence from Corporate Finance Choices

Giannetti, Mariassunta - Banca d'Italia - 2000

, are associated with higher leverage, but also with greater availability of long-term debt. …

Persistent link: https://www.econbiz.de/10005113552

Financial sector pro-cyclicality: lessons from the crisis

Panetta, Fabio; Angelini, Paolo; Albertazzi, Ugo; … - Banca d'Italia - 2009

We analyze the main forces affecting financial system pro-cyclicality (the fact that developments in the financial sector can amplify business cycle fluctuations). We first review some major structural developments in financial markets that may influence pro-cyclicality and that have been...

Persistent link: https://www.econbiz.de/10005029282

Externalities in interbank network: results from a dynamic simulation model

Manna, Michele; Schiavone, Alessandro - Banca d'Italia - 2012

authorities. The banks deleverage to comply with a regulatory capital (leverage) ratio, roll off interbank loans, bid for central …

Persistent link: https://www.econbiz.de/10011099690

Does corporate taxation affect cross-country firm leverage?

Socio, Antonio De; Nigro, Valentina - Banca d'Italia - 2012

We evaluate the relation between firm leverage and taxation of corporate income using a dataset of mostly unlisted … regressors. We also apply quantile regressions to evaluate a possible differential impact of taxation on leverage across firms …. Our results suggest that corporate income taxation is positively related to leverage and explains part of the cross …

Persistent link: https://www.econbiz.de/10011099709

EU bank deleveraging

Bologna, Pierluigi; Caccavaio, Marianna; Miglietta, Arianna - Banca d'Italia - 2014

find that the leverage ratio (measured as assets to equity) has declined on average from 28.6 to 25.0. Its standard …

Persistent link: https://www.econbiz.de/10011100352