We investigate the effects of regulatory restrictions on the amounts invested in risky asset classes in life insurance funds across EU countries. By estimating a panel data econometric model, we find that these restrictions have an economically and statistically significant negative impact on...

Article originally published in the volume 58 issue 232 of Moneta e Credito, 2005, pp. 109-53.In questo lavoro analizziamo la nuova geografia del sistema bancario italiano che si è determinata in seguito al processo di integrazione delle strutture bancarie negli ultimi anni. L'analisi...

In financial economics, co-movements between equity returns are generally interpreted as a measure of equity market integration. In line with this idea, this paper investigates whether the euro equity markets have become less segmented over the last decade referring to three different estimates...

Insurance firms across EU member states are subject to capital requirements in order to reduce the risk of insurer insolvency and thereby protect policyholders and support market stability. Most countries supplement solvency capital requirements by regulating the portfolio of assets covering...

In this paper we analyse the new geography of the Italian banking system on the basis of the integration pressures of recent years. The analysis of the evolution of thebanking system is focused on the concept of distance. In particular, we not only refer to the traditional distance between bank...