Showing 1 - 10 of 61
This paper studies the effects of differences in local administrative burdens in Italy in the years preceding a major reform that sped up firm registration procedures. Combining regulatory data from a survey on Italian provinces before the reform (costs and time to start a business) with...
Persistent link: https://www.econbiz.de/10011099694
The aim of the present note is to outline a general, but at the same time comprehensive, framework of the array of instruments that regulators can use in their activity of prudential regulation and supervision. Such a framework should be applicable to a variety of geographical and historical...
Persistent link: https://www.econbiz.de/10004998785
The far-reaching regulatory activity in which the financial sector has been involved in recent years has been attracting increased attention to the expected costs and benefits of such regulation; measures undertaken in response to the financial crisis have made these issues even more topical....
Persistent link: https://www.econbiz.de/10008764793
This paper develops an early warning system for sovereign debt crises, broadly defined as episodes of outright default, failure of a country to be current on external obligations and substantial access to IMF resources. It estimates a multinomial logit model that makes it possible to...
Persistent link: https://www.econbiz.de/10005609369
The paper investigates the opinions of Italian families on the advisability and the possibility of saving. The analysis was carried out using the monthly micro-data underlying the Italian consumer survey conducted by Isae up to 2010 and by Istat thereafter. The results show that in recent years...
Persistent link: https://www.econbiz.de/10011100339
The role of movements in real rates in explaining the relationship between long and short-term interest rates is explored using a model of optimal government debt management.
Persistent link: https://www.econbiz.de/10005780674
The act of choosing can influence maximizing behaviour for at least two distinct reasons: 1) process significance and 2) decisional inescapability. The constructive programme of the paper is combined with critical appraisal of the implications of these concerns for rational decisions about...
Persistent link: https://www.econbiz.de/10005780681
We develop a model which accounts for the observed equity premium and average risk free rate, without implying counterfactually high risk aversion. The model also does well in accounting for business cycle phenomena.
Persistent link: https://www.econbiz.de/10005640901
This paper builds a dynamic model of the information flow between partially informed financial institutions and a public agency. The financial institutions decide how to allocate their portfolio between a risk-free technology with a known payoff and a risky technology whose payoff is unknown....
Persistent link: https://www.econbiz.de/10009654300