Italian Abstract: I conti patrimoniali sono parte del sistema di contabilità nazionale e forniscono un quadro completo della ricchezza di un paese e della sua evoluzione temporale. Nel lavoro vengono presentati i conti patrimoniali dell'Italia costruiti utilizzando i dati dei conti finanziari...

This paper provides an assessment of the costs of complying with Basel III for the Italian economy. The main findings are the following. For each percentage point increase in the capital ratio implemented over an eight-year horizon, the level of GDP would decline by 0.00-0.33% (0.03-0.39% if...

This paper explores the effect of taxation on the capital structure of banks. For identification, we exploit exogenous regional variations in the rate of the Italian tax on productive activities (IRAP) using administrative, confidential data on regional banks provided by the Bank of Italy...

Interchange fees (IF) are fees that a cardholder's bank (issuer) receives from the merchant's bank (acquirer) when a card payment is executed. Interchange fees are an important part of the fees charged to merchants by acquirers. Because of their level and fragmentation, interchange fees can...

Italian Abstract: Nel periodo compreso fra giugno 2020 e dicembre 2021, il ricorso alle misure a sostegno della liquidità delle imprese introdotte a seguito della pandemia di Covid-19 ha presentato una distribuzione non uniforme sul territorio nazionale. Le differenze sono riconducibili solo in...

The paper assesses the vulnerability of China to external shocks via the indirect negative effect of a slow-down in exports on domestic demand for investment. In the last decade China has increased its dependence on external demand, particularly from the advanced countries; at the same time it...

A series of reforms passed in Italy in 2010 reduced the expected duration of registration and startup procedures for new businesses. Previous research has found that procedural simplifications of this nature have a positive impact on the selection of firm entry in the short run and consequently...

This paper examines the causes of the exceptionally marked fall in non-construction investment in Italy since 2007. Non-financial private services were the main driver of the decline in the aggregate investment rate, but all sectors weighed in negatively; the reallocation of value added away...

The share of labour increased in the first half of the 1970s, declined slowly to its 1960s level in 2001, and since then has been rising. Between 1975 and 2001, the decline in the labour share was due in part to the recovery in profits, and in part to a steady increase in housing rents on GDP,...

This paper uses over two decades of Italian survey data on business managers’ expectations to measure subjective firm-level uncertainty and quantify its economic effects. We document that firm-level uncertainty persists for a few years and varies across firms’ demographic characteristics....