In response to the Covid-19 outbreak, among other previous "non-pharmaceutical interven-tions", on March 22, 2020 the Italian Government imposed an economic lockdown and ordered the closing of all non-essential economic activities. This paper estimates the causal effect of this measure on...

Emerging countries tend to default when their economic conditions worsen. If bad times in an emerging country correspond to bad times for the US investor, then foreign sovereign bonds are particularly risky. We explore how this mechanism plays out in the data and in a general equilibrium model...

Con la crisi del debito dell'Eurozona il rischio sovrano sulle obbligazioni governative dei paesi area Euro e' radicalmente mutato. I fondi obbligazionari governativi area Euro investono proprio in questi strumenti finanziari e costituiscono una quota significativa del risparmio delle famiglie...