Il presente studio esamina l'impatto dei fattori ESG-Environment, Social and Governance sui modelli creditizi delle banche italiane e sulla domanda di mutui delle famiglie nelle diverse macro-regioni del paese dal 2009 al 2022. La transizione verso pratiche di finanza sostenibile è analizzata...

Italian Abstract: Il lavoro descrive le caratteristiche dei private placement e discute le condizioni necessarie per la loro diffusione in Europa. Il private placement è una modalità di finanziamento usata principalmente da imprese di medie dimensioni che, non potendo accedere al mercato...

Italian Abstract: Il tema del finanziamento degli investimenti a lungo termine è al centro dell'agenda delle autorità di politica economica; è tra le priorità della Presidenza italiana dell'Unione Europea. Il lavoro presenta le principali iniziative internazionali in materia e mette in rilievo...

This paper examines German reunification from its inception. It shows that after the rapid expansion of the early years, former East Germany entered a phase of slow growth that made it impossible to bridge the gap with West Germany. Unemployment remains high, low growth rates appear ingrained,...

In Italy the rate of growth of GDP has declined over the period 2000-2007, after joining the single currency. The decrease is not incidental, but it has a structural and long-term nature, so this decrease relates to the potential growth. This weakening of growth takes place in an international...

This contribution is an analysis and a comment of the Final Remarks of the Governor of the Bank of Italy and his directions of economic policy for the Italian economy. An economy that has a high unemployment and also supports a public debt that, despite the recent efforts of fiscal...

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...

This paper estimates a pricing-to-market equation for Italy over the period 1990-99 with the aim of assessing the degree of exchange rate pass-through (ERPT). As compared to previous works, we minimize aggregation and selection biases using export data on all products (about 700 from 4 digits of...