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The Role of Social Capital in Financial Development

Guiso, Luigi - 2000

capital and trust (Banfield (1958), Putnam (1993)) across different parts of Italy, using microeconomic data on households and …

Persistent link: https://www.econbiz.de/10012471212

"And Yet It Moves" : Intergenerational Mobility in Italy

Acciari, Paolo - 2019

We link tax returns across two generations to provide the first estimate of intergenerational mobility in Italy based … on administrative income data. Italy emerges as less immobile than previously depicted by studies using proxies for …. Provinces in Northern Italy, the richest area of the country, display levels three times as large as those in the South. This …

Persistent link: https://www.econbiz.de/10012479683

Wealth Transfers and Net Wealth at Death : Evidence from the Italian Inheritance Tax Records 1995–2016

Acciari, Paolo - 2020

In this paper we describe a novel source of data on the full record of inheritance tax files in Italy, covering up to … economy, the weight of inheritance and gifts in Italy appears relatively high by international standards. Over the same period …

Persistent link: https://www.econbiz.de/10012482118

Social Capital as Good Culture

Guiso, Luigi - 2007

To explain the extremely long-term persistence (more than 500 years) of positive historical experiences of cooperation (Putnam 1993), we model the intergenerational transmission of priors about the trustworthiness of others. We show that this transmission tends to be biased toward excessively...

Persistent link: https://www.econbiz.de/10012464934

The Cost of Banking Regulation

Guiso, Luigi - 2006

We use exogenous variation in the degree of restrictions to bank competition across Italian provinces to study both the effects of bank regulation and the impact of deregulation. We find that where entry was more restricted the cost of credit was higher and - contrary to expectations- access to...

Persistent link: https://www.econbiz.de/10012466164

Trusting the Stock Market

Guiso, Luigi - 2005

We provide a new explanation to the limited stock market participation puzzle. In deciding whether to buy stocks, investors factor in the risk of being cheated. The perception of this risk is a function not only of the objective characteristics of the stock, but also of the subjective...

Persistent link: https://www.econbiz.de/10012467028

Does Local Financial Development Matter?

Guiso, Luigi - 2002

We study the effects of differences in local financial development within an integrated financial market. To do so, we construct a new indicator of financial development by estimating a regional effect on the probability that, ceteris paribus, a household is shut off from the credit market. By...

Persistent link: https://www.econbiz.de/10012469791

Time Varying Risk Aversion

Guiso, Luigi - 2013

We use a repeated survey of an Italian bank's clients to test whether investors' risk aversion increases following the 2008 financial crisis. We find that both a qualitative and a quantitative measure of risk aversion increases substantially after the crisis. After considering standard...

Persistent link: https://www.econbiz.de/10012459377