This paper, based on financial statement data from about 500 Italian banks in theperiod between 2006 and 2010, analyses the loans to customers development in Italy by bank size. The research focuses on its evolution over time and on the quality of creditexposures. The aim is to assess the...

This paper intends to show that the origin and development of the current crisis is entirely consistent with Hyman Minsky analysis. The substantial inadequacy of the regulatory framework in controlling the massive innovation processes involving the financial sector in the last twenty years is...

The capital adequacy of financial intermediaries is one of the key issues dramatically raised by the financial crisis. Review of the regulation in this field is underway and aims to reinforce the Basel 2 regime. This introduction presents the contributions in this section, which critically...

Immediately after the Lehman Brothers failure, the lack of confidence in the financial markets and the serious difficulties of several European cross border financial intermediaries, a large wave of public rescue and support measures in favour of European banks and financial institutions and...

La crisi finanziaria iniziata del 2007 ha determinato il più grave salvataggio della storia. Le banche, con l'unica eccezione di Lehman Brothers, hanno goduto di un autentico diritto a non fallire, che rischia di rendere permanente l'azzardo morale e di impedire che la disciplina di mercato...

La crisi finanziaria scoppiata nel 2007 è stata affrontata con decisione e in modo coordinato da governi e banche centrali, con politiche basate su salvataggi bancari, garanzie pubbliche sulle passività degli intermediari ed eccezionali iniezioni di fondi a basso costo. Nel frattempo, si...

Il contributo analizza il legame tra politica della concorrenza e recessione economica. In particolare, viene approfondito il tema della fiducia nella capacità degli assetti concorrenziali di produrre effetti positivi, messa sostanzialmente a rischio dalla crisi finanziaria e dallo stato di...

The recent financial crisis has highlighted the consensus, among authors, on the need to complement traditional micro-policies with a macro-prudential approach, in order to protect the financial system as a whole. The paper presents the concept of macro-prudential policy, the objectives, the...

This work estimates a reduced model of the determinants of the 10-year yield spreads relative to Germany for 10 Eurozone countries. Results show that since the inception of the 2007 crisis, spreads have exhibited a rising time-dependent component. Country specific estimated responses to...

This paper provides estimates of the effects of the fall in financial and housing wealth in 2008-2009 on overall macroeconomic activity. These effects are large and account for a large fraction of the slowdown in activity. Much of the 2008-2009 recession is estimated to be simply standard wealth...