Innovation in SMEs exhibits some peculiar features that most traditional indicators of innovation activity do not … firm�s productivity, especially process innovation. Among SMEs, larger and older firms seem to be less productive. … capture. Therefore, in this paper, we develop a structural model of innovation which incorporates information on innovation …

relationship banks gather information on their borrowers, which allows them to provide loans for profitable firms during a crisis … firms in a crisis. Using detailed credit register information for Italian banks before and after the Lehman Brothersï …¿½ default, we are able to study how both types of bank responded to the crisis and we test existing theories of relationship …

(2008-09), compared with a previous time of growth (2006-07). Once transition matrices were linked to interest rates, banks … and recession. However, the uncertainty generated by the crisis accentuated the unexpected component of credit worsening …-average ability in calibrating rates to risk during the crisis; banks with a stronger relationship with borrowers smoothed the risk …

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 …

the aftermath of the global crisis started in 2008, affording special consideration to rules and institutions. Session 1 …

Italian employment is likely to remain well below its pre-crisis level in the coming quarters. …