The affordability index of Italian households analyzes the factors influencing the households’ propensity to buy an house with a mortgage loan. In 2013, the index recorded a significant improvement returning to pre-crisis levels, due to the houses prices decrease and to the fall of interest...

In the area of financial education it is important to link training content to its function and receivers, and to realize a coherent and useful format.The topics of financial education have to be related to specific areas and situations and to welldefined needs. The trainers need to understand...

The European financial market has an high degree of interconnectedness among hedge funds, banks, brokers and insurance companies, that can be used as an indicator to predict an emerging systemic crisis and its intensity.The relations are cross-country as well as cross-industry, with a primary...

A comparative analysis of the advanced methodologies used by the banking industry for measuring the total economic capital underlines the superiority of the top-down technique based on Monte Carlo simulation and Gaussian copula.This model is particularly suited to consider the empirical...

Italian households are suffering the crisis and retail banks should carefully consider the new scenario in order to develop appropriate strategies and customer relationships management techniques. A new Financial Vulnerability Index, based on different stress profiles and on the analysis of...

A sample of 1,087 Italian university students was surveyed to investigate their financial education and its determinants. Financial education of first-year and third-year business and non-business students was assessed using a 20-item test aimed at measuring both financial knowledge and...

Current developments of hedge funds market demonstrate the relevance of operative and market risk exposure measurement. VaR represents the more widespread approach adopted for measuring the market risk and it could be used jointly with other measures in order to overcome some forecasting limits...

The development of a long lasting relationship between banks and firms requires greater cooperation between the two parties, which must be based on transparency, availability of the right quantitative and qualitative information, the correct and complete use of these information by banks, in...

To estimate the probability of default of companies and the correlated rating classes, it is necessary to use efficiently the information contained in different databases. In this respect, we propose a novel approach, based on the recursive usage of Bayes theorem, that can be very helpful in...

The crisis has strongly influenced the funding policies in Italian banks, pushing them to raise their stock of time deposits, an attractive product for retail customers in terms of low issuer risk and no market risk