The paper presents BIMic, a static and non-behavioural microsimulation model developed at the Bank of Italy. BIMic reproduces the main features of the Italian tax and benefit system, such as social security contributions, personal income tax, property taxes, family allowances and some other...

Italian Abstract In questo lavoro si discutono le caratteristiche strutturali dell’Irpef al fine di studiarne gli effetti sulla redistribuzione del reddito e sugli incentivi all’offerta di lavoro. L’analisi è condotta mediante il modello statico di microsimulazione BIMic. Rileviamo che...

Italian Abstract: Questo lavoro presenta gli effetti di due interventi di revisione del sistema italiano di imposte e benefici attuati nel 2022: (i) l’introduzione dell’assegno unico e universale per i figli a carico (AUU), che ha sostituito un sistema frammentato di trasferimenti e...

The European Union's VAT system has become vulnerable to organized fraud schemes. In recent years, these schemes, undergoing a change in structure, have affected services and imports of goods from third countries and may also have shifted trade in goods among EU countries. Within the EU-27,...

The European Union's VAT system has become vulnerable to organised fraud schemes. In recent years, these schemes, undergoing a change in structure, have affected services and imports of goods from third countries and may also have shifted trade in goods among EU countries. Within the EU-27,...

The aim of the paper is to characterize the optimal child care policies (subsidies and state provision), assuming that child care provision affects the child's future abilities. Public intervention is needed since two sources of economic inefficiency are contemporaneously influential: parents do...

The decline in VAT revenue during the Covid-19 recession has been unexpectedly lower than the drop in household consumption. In the first half of 2021, VAT bounced back to pre-crisis levels even though aggregate consumption had still not recovered. According to our analysis, this result...

This article focuses on the application of the Pykhtin model to the Italian banking system to measure concentration risk by industry sector and geographic region. The proposed approach generalizes the portfolio model used in Pillar 1 for the calculation of the capital requirement, removing the...

After the crisis, bank regulators are considering mitigating liquidity risk by introducing quantity limits on liquidity and maturity mismatch. We argue that aggregate liquidity risk can be reduced with little deadweight loss by encouraging banks, through adequate regulatory relief, to satisfy...

Developments in the real-estate sector are of crucial importance for the business cycle and financial stability. This study analyses developments in the Italian housing market on the basis of both real and financial variables. Following the sharp contraction of the market during the financial...