This paper examines private equity and venture capital in Italy. The first part looks at the main features of the Italian market and its recent evolution; the second part considers the results of a survey of firms and intermediaries designed to gather information regarding contract features and...

The literature on debt restructuring usually assumes that banks behave in a uniform way towards firms in distress. Using a recent survey of Italian banks, we show that banks follow different strategies when they decide whether to take part in the workout process, in that some of them do...

This paper studies whether municipal expenditure in Italy is influenced by female representation in city councils. To correctly capture the causal relation we use the instrumental variable technique. Our instrument is based on a temporary change in the Italian normative occurred between 1993 and...

This paper studies whether the allocation of municipal expenditure in Italy is influenced by female representation in Municipal Councils. Despite the existence of gender-specific preferences in society, we find no clear evidence that the amount of resources distributed among different spending...

The paper provides an analysis of cyclically-adjusted budget balances of local governments in Italy for the period 2002-07. We find that local government balances appear to be relatively sensitive to the business cycle. In particular, a shock of 1 per cent in GDP changes their resources by...

In this paper we consider a two-country model. Each country is characterised by several different sources of nominal inertia. This distinguishes our model from others in the so called New Open Economy Macroeconomics and makes it a suitable framework within which analyse the stabilising...

Italy is characterized by strong differences both in the productive and in the financial structure. Small and medium firms tend to concentrate in the so called 'Marshallian industrial district', whose productive system has been thoroughly studied but whose financial features are partially...

This paper examines the results of a survey carried out in 2007 by the Bank of Italy concerning different characteristics of the organization of lending activities. Between 2003 and 2006 the physical distance between the headquarters and the branches increased, the limits to the decision-making...