The paper investigates whether there is sufficient empirical support in Italy for the introduction of a sectoral countercyclical capital buffer (CCyB) in the macroprudential framework. We study the sectoral decomposition of the credit-to-GDP gap over the period 1990Q1-2017Q2. Overall, our...

This paper studies what impact liquidity shocks have on liquid assets and domestic and cross-border lending. In particular, we look for differences across banks depending on their international exposure and we account for the effects of the sovereign debt crisis and the ECB's non-conventional...

This paper proposes two measures of underlying inflation for euro area as an alternative to the Harmonized Index of Consumer Prices excluding Food and Energy. The first measure, called the Core cycle measure, is constructed by using a Phillips curve model to distinguish disaggregated prices that...

This study presents the results of a survey carried out by the Bank of Italy in 2015 on the efficiency of credit recovery procedures undertaken by the main Italian banking groups. The recovery rate for liquidations in the years 2011-2014 was slightly above 40 per cent, and the largest share of...

Unlikely to pay loans (UTPs) are non-performing loans (NPLs) that have a non-zero probability of returning to the performing state. This paper draws on Italian Central Credit Register data on the entire population of Italian UTP firms from 2005 to 2019, matched with firm and bank balance sheet...

The two recessions that have hit Italy since the end of 2008 have raised the share of non-performing loans to businesses in banks' portfolios substantially. In this paper we evaluate to what extent the deterioration of credit quality was due not only to the decline in firms' sales during the...

Italian Abstract: Questo studio illustra i risultati di un'indagine sull'efficacia delle procedure di recupero dei crediti alle imprese condotta dalla Banca d'Italia nel 2015 presso i maggiori gruppi bancari. Il tasso di recupero delle liquidazioni nel periodo 2011-14 è stato leggermente...

We investigate the duration of bad loans for a unique data set of sole proprietorships in Italy, finding that bad loans for female firms last longer. However, this result is mainly due to the fact that loans granted to female firms are less frequently written off than those to male ones,...