The goal of this paper is to investigate the link between the length of a firm-bank relationship and firm's internationalization. The analysis is carried out on matched firm-bank micro-data from a survey of Italian enterprises from 1998 to 2003. We obtain two main results. First, a longer...

The growing complexity of the financing and ownership structures of multinational enterprises (MNEs) leads to control chains that extend across a number of countries and obscure the ultimate sources and destinations of foreign direct investment (FDI). This results in what is known in the...

We discuss entry wages, career patterns and inequality developments of successive cohorts who have entered the Italian labour market between 1974 and 2014. We find that entry wages started to decline around the mid-1990s; the drop continued at least until the onset of the global financial...

We estimate the private (individual) and social return to schooling in Italy and its macro regions. Our estimates take into account the effects of schooling on employment and wages, as well as the key features of the Italian tax and social security system. We find that the individual return to...

The paper estimates the gender wage gap in Italy, taking into account two salient features of the economy: the low rate of women’s labour market participation and the high share of self-employment. It exploits the Bank of Italy’s survey on household income and wealth, which contains...

The substantial amount of undeclared foreign assets reported by disclosure schemes and analyses of international balance of payments statistics suggest that foreign assets held by Italians, as is the case in other countries, are greatly underestimated, in particular in the sector of portfolio...

This paper is a case study of an (almost complete) adjustment of Italy's external stock imbalance. After reaching a peak of around 25 per cent of GDP in early 2014, Italy's net external debtor position has steadily decreased, reaching less than 7 per cent of GDP at the end of 2017. The...

This paper analyses the evolution of Italian investment income flows in relation to the corresponding financial stocks in the international investment position. The period under scrutiny is from 1999 to 2016, covering all developments since the beginning of monetary union. The analysis is based...

The Covid-19 epidemic affected the ability of traditional forecasting models to produce reliable scenarios for the evolution of economic activity. We combine macroeconomic variables with epidemiological indicators to account for the Covid-19 shock and predict the short-term evolution of Italian...

Global Value Chains (GVCs) have been one of the main transmission mechanisms of 2009 the Great Trade Collapse. Our paper provides a description of the effects of the crisis from a perspective that is both country-comparative (Germany and Italy) and on firm level. Two are the main conclusions: i)...