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Pagano, Marco - In: The Social Value of the Financial Sector:Too Big to …

SideShadow banks and securitizationLow Interest Rates and the Fall in Credit StandardsThe Nonlinear Effect of Financial …

Persistent link: https://www.econbiz.de/10011206756

Corporate Fraud, Governance and Auditing

Immordino, Giovanni; Pagano, Marco - Centro Studi di Economia e Finanza (CSEF) - 2008

We analyze corporate fraud in a model where managers have superior information but, due to private benefits from empire building, are biased against liquidation. This may induce them to misreport information and even bribe auditors when liquidation would be value-increasing. To restrain fraud,...

Persistent link: https://www.econbiz.de/10005839199

Households’ Indebtedness and Financial Fragility

Jappelli, Tullio; Pagano, Marco; Maggio, Marco di - Centro Studi di Economia e Finanza (CSEF) - 2008

The paper studies the determinants of international differences in household indebtedness, and inquires whether indebtedness is associated with increased “financial fragility”, as measured by the sensitivity of household arrears and insolvencies to macroeconomic shocks. It also investigates...

Persistent link: https://www.econbiz.de/10005839203

Information Sharing and Credit: Firm-Level Evidence from Transition Countries

Brown, Martin; Jappelli, Tullio; Pagano, Marco - Schweizerische Nationalbank (SNB) - 2007

We investigate whether information sharing among banks has affected credit market performance in the transition …

Persistent link: https://www.econbiz.de/10008925061

Lessons from the European financial crisis

Pagano, Marco - Center for Financial Studies - 2014

. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and … fiscal distress, and inquires how the regulation of banks' sovereign exposures in the euro area should be changed to mitigate … European banks and the tendency of EU regulators to rescue rather than resolving distressed banks, and asks to what extent the …

Persistent link: https://www.econbiz.de/10010961638

Dealing with financial crises: How much help from research?

Pagano, Marco - Center for Financial Studies - 2014

swift and massive liquidity provision by central banks in the wake of both crises is, at least partly, to be credited to … previous research on the role of central banks as lenders of last resort in crises and on the real effects of bank lending and …

Persistent link: https://www.econbiz.de/10010958553

Information sharing and credit: Firm-level evidence from transition countries

Brown, Martin; Jappelli, Tullio; Pagano, Marco - Center for Financial Studies - 2008

We investigate whether information sharing among banks has affected credit market performance in the transition …

Persistent link: https://www.econbiz.de/10010958815

Dealing with Financial Crises: How Much Help from Research?

Pagano, Marco - Centro Studi di Economia e Finanza (CSEF) - 2014

Persistent link: https://www.econbiz.de/10010885020

Lessons from the European Financial Crisis

Pagano, Marco - Centro Studi di Economia e Finanza (CSEF) - 2014

. First, it highlights the key role that sovereign debt exposures of banks have played in the feedback loop between bank and … fiscal distress, and inquires how the regulation of banks’ sovereign exposures in the euro area should be changed to mitigate … European banks and the tendency of EU regulators to rescue rather than resolving distressed banks, and asks to what extent the …

Persistent link: https://www.econbiz.de/10010885021

Optimal regulation of auditing

Pagano, Marco; Immordino, Giovanni - 2007

We study regulation of the auditing profession in a model where audit quality is unobservable and enforcing regulation is costly. The optimal audit standard falls short of the first-best audit quality, and is increasing in the riskiness of firms and in the amount of funding they seek. The model...

Persistent link: https://www.econbiz.de/10010264117