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N° 12 December 2016

N° 12 December 2016

Banks’ business models: a survey with a look to new regulation and future strategies Stefano Cosma, Riccardo Ferretti, Elisabetta Gualandri, Andrea Landi, Valeria Venturelli G21, G28 Changing market conditions, new technologies, modifications in supervisory frameworks and low interest rates are casting doubt on the sustainability of ban...

Internal ratings, credit growth and Npls: an empirical analysis Marina Damilano, Paola De Vincentiis, Eleonora Isaia, Patrizia Pia, P. Pia G21 In this paper, we investigate how the use of internal credit rating systems impacted the lending activity in Italy, during the 2010-2014 downturn. We argue...

Monetary policy, sovereign spreads and fixed exchange rates: a vicious circle Francesco Caputo Nassetti E50, F30 15 years of European monetary policy, togheter with incomplete integration and the crisis, have created a mechanism that is transferring wealth from the po...

Etf characteristics and fiscal treatment in Italy Enzo Mignarri G15, G23, H20 Exchange Traded Funds, available to Italian investors in September 2002, have become successful over time for both institutional and retail investors becau...

Preventing terrorism financing: new rules and bank’s strategies Alfredo Pallini G21, G28, K42 The Italian banking and financial sector have always been at the forefront in the design and use of systems to mitigate and combat money laundering and ter...

Digital revolution and bank business, the keys for sustainibility Stefano Sperimborgo G21, G28, M15 The strategic and disruptive role of new technologies poses to Italian banks important challenges: to change the core banking to meet the new requirements ...

Luigi Einaudi: ethical rigor and clarity of language Antonio Patuelli

The thought of Luigi Einaudi, a model of economic education Ignazio Visco