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The Insolvency Regime for Large Enterprises in Italy : An Economic and Legal Assessment
Belhocine, Nazim - 2018
The modernization of Italy's insolvency framework has been the subject of much interest in recent years, related not … least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy's insolvency … folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in …
Persistent link: https://www.econbiz.de/10012909405
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Raising Rates with a Large Balance Sheet : The Eurosystem's Net Income and its Fiscal Implications
Belhocine, Nazim; Bhatia, Ashok Vir; Frie, Jan-Martin - 2023
The Eurosystem, having purposefully expanded its footprint in recent years, confronts a period of loss-making as rising policy rates lift the remuneration of bank reserves while assets churn more slowly. This paper projects the net income of the Eurosystem and its “top-five” national central...
Persistent link: https://www.econbiz.de/10014353226
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Designing Effective Macroprudential Stress Tests : Progress so Far and the Way Forward
Demekas, Dimitri G. - 2015
Giving stress tests a macroprudential perspective requires (i) incorporating general equilibrium dimensions, so that the outcome of the test depends not only on the size of the shock and the buffers of individual institutions but also on their behavioral responses and their interactions with...
Persistent link: https://www.econbiz.de/10013016612
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Designing Effective Macroprudential Stress Tests : Progress so Far and the Way Forward
Demekas, Dimitri G. - 2015
Giving stress tests a macroprudential perspective requires (i) incorporating general equilibrium dimensions, so that the outcome of the test depends not only on the size of the shock and the buffers of individual institutions but also on their behavioral responses and their interactions with...
Persistent link: https://www.econbiz.de/10013019833