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N° 11 November 2020

N° 11 November 2020

A flexible and forward-looking collective effort Antonio Patuelli

Savings and Financial innovation: the challenges for Intermediaries and Central banks Ignazio Visco G20, I18, O30 The sharp rise of savings in Italy, up to 20% of disposable income, could consolidate in the second wave of the pandemic. Over the past 12 months ...

Financial Reporting Quality and the Cost of Debt in Italian Central-Northern and Southern Smes Pietro Fera, Antonio Meles, Nicola Moscariello, Dario Salerno G21, G32, M41 This paper investigates the relationship between financial reporting quality and the cost of debt on a sample of Italian Smes during the 2012-2017 period ....

Banks, business models and Open Banking: which interpretation of Psd2 Stefano Cosma, Francesco Pattarin, Daniela Pennetta G21, G28 According to Psd2, banks are required to open up access to customers’ account data to authorized third parties. In order to comply with the new legislation...

New policies for Europe Mario Draghi E02, E58, E62 In his recent Rimini speech, former Ecb president Mario Draghi makes several interesting suggestions, which could help Italy and Europe to face the Covid c...

Mario Draghi’s post-pandemic policy rules Teodoro Dario Togati E02, E58, E62 In his recent Rimini speech, former Ecb president Mario Draghi makes several interesting policy remarks, from which we can draw suggestions on how post-Cov...

Alternative Savings plans and new rules on Eltifs to bring more private capital to Smes Enzo Mignarri E20, G23, H20 The Italian regulation of Individual saving plans (Pir) has significantly changed in 2020, in order to convey savings towards the real economy and stimulat...

The impact of Asset Encumbrance on banks' Systemic risk: an empirical analysis Fabrizio Cipollini, Lorenzo Gai, Federica Ielasi, Francesca Querci G21, G28 The paper investigates the risks on financial stability connected to the level of banks’ asset encumbrance (Ae). To conduct this study, a panel regression ...

Old and Modern Auctioneers: A concise survey of auction theory and its most relevant applications Gian Luigi Albano C72, D44 The 2020 Nobel Prize for Economic Sciences has been jointly awarded to Prof. Paul Milgrom and Prof. Robert Wilson «for improvements to auction theory ...

L’associazionismo economico nel pensiero di Einaudi Francesco Dandolo