The literature on Markov switching models is increasing and producing interesting results both at theoretical and applied levels. Most often the number of regimes, i.e., of data generating processes, is considered known; this strong hypothesis is adopted to somewhat bypass the nuisance parameter...

In this paper we examine under what circumstances the information accumulated during market closing time and conveyed to the price formation at market opening may be exploited to predict where the stock price will be at the end of the trading day. In our sample of three financial time series, we...

Italian Abstract: Mediante l'utilizzo di un campione di individui tra i 25 e i 54 anni, si analizza la partecipazione al mercato del credito e la vulnerabilità finanziaria per classe di reddito tra il 2005 e il 2011. Nel periodo considerato la percentuale di individui che detenevano un debito...

This analysis aims at studying joblessness and the effect of the economic crisis at the household rather than the individual level. With respect to the main European countries, in Italy the jobless household rate is lower because of the larger household size (the more adults present the lower...

English Abstract: The 2019 edition of the CONSOB Report on financial investments of Italian households presents evidence on the financial choices of a representative sample of 3,058 Italian households while significantly deepening the analysis of financial knowledge and individual attitudes....

English abstract The 2022 Report on Italian household investment choices analyses financial knowledge, attitudes and behaviours of a sample of 1,436 individuals, 80% of whom are men, representative of the Italian investor population, and pays attention to the impact that current economic...

Italian Abstract: Il Rapporto CONSOB per il 2020 su ‘Le scelte di investimento delle famiglie italiane’ raccoglie i dati relativi a un campione di 3.274 individui, rappresentativo dei decisori finanziari italiani. Il documento si articola in otto sezioni, di cui le prime due basate su dati...

Italian Abstract: Il ‘Rapporto CONSOB 2021 sulle scelte di investimento delle famiglie italiane’ si articola in otto sezioni, di cui le prime due basate su dati di fonte esterna e dati di vigilanza e le rimanenti sei basate sui dati dell’Osservatorio CONSOB sulle scelte di investimento...

The paper offers a critical assessment of the central proposition of the ��financial instability hypothesis��, i.e. that phases of expansion and investment growth are harbingers of increasing instability that can endogenously generate a financial crisis. As a preliminary, it...

Assembling information from several sources and a drawing on specially designed new survey, this paper finds that the shortfall in the supply of child care facilities remains large with respect to potential demand but is less severe with respect to the effective demand by households in Italy....