The data collected by the IMF in the Coordinated Portfolio Investment Survey (CPIS) provide a unique source for foreign portfolio asset holdings, with details on the breakdown by instrument and counterpart country. In the presence of sizeable cross-border positions in mutual funds, which are...

A comprehensive analysis of price and cost competitiveness warrants an assessment of a range of alternately deflated nominal effective exchange rates. Here, we focus solely on the price-competitiveness indicator currently published by the Bank of Italy (Felettigh et al., 2015), which is based on...

We provide an in-depth analysis of Italy's export performance relative to the other main euro-area countries over the last two decades, using both macro and micro data. We argue that the relatively unsatisfactory performance of Italian goods exports until the eve of the 2008-09 crisis is the...

We investigate the role of cyclical factors in the adjustment of Italy's external balance from 2010, developing a model that infers the potential levels of domestic demand and of imports and exports from an exogenous measure of potential output, in an internally coherent fashion and also taking...

We econometrically investigate the heterogeneous ability of Italian exporting sectors at coping with the Covid-19 shock, which affected in an idiosyncratic fashion both supply, mainly due to the selective suspension of non-essential activities in the country during the lockdown in March-April...

This paper provides new Bank of Italy indicators of price competitiveness for 62 countries. We refreshed the approach adopted by the Bank in the 1990s but later discontinued in 2005 due to the cumbersome statistical requirements in order to accommodate the significant extension of the original...

The new international standards for national accounts and balance of payments statistics (ESA 2010 and BPM6) introduced a new treatment of goods sent abroad for processing without changing ownership, now considered as an exchange of services. In this paper we explore to what extent this...

Motivated by the increasingly large weight of foreign investment funds on the portfolio of Italian residents, this paper provides an estimate of the composition, by instrument and by issuer country, of Italy's portfolio assets after “looking through” cross-border positions in investment...

Using an extension of the methodology proposed by Koopman, Wang and Wei (2014) for quantifying the domestic value added in a country's exports of manufactures, this paper provides calculations of the market shares in value-added for a number of countries and compares them with the standard...

We measure the share of foreign value added embedded in the domestic consumption expenditure of the Italian household sector as a whole and of households along the distribution of consumption expenditure. We find that for each euro spent for consumption by households, almost irrespective of...