In response to fundamental changes in regulation and technology, the financial industry is
undergoing an unprecedented wave of consolidation. A growing body of empirical literature …

We use household survey data to construct a direct measure of absolute risk aversion based
on the maximum price a consumer is willing to pay for a risky security. We relate this …

An important element of the macro-prudential analysis is the study of the link between
business cycle fluctuations and banking sector profitability and how this link is affected by …

This paper studies cross-sectional differences in banks interest rates. It adds to the literature
in two ways. First, it analyzes systematically the micro and macroeconomic factors that …

In this paper we estimate the long-run relationship between total factor productivity, R&D,
human capital and public infrastructure between 1980 and 2001 across Italian regions. We …

We investigate the effects of competition in the financial sector on the creation of firms in the
nonfinancial sector, explicitly allowing for heterogeneous effects across borrowers …

This paper builds a baseline two-country model of real and monetary transmission in the
presence of optimal international price discrimination by firms. Distributing traded goods to …

A comprehensive investigation is provided on the issue of the possible cyclical nature of
banks' behaviour using a large panel of Italian intermediaries over the period 1985 to 2002 …

Using firm-level based TFP indicators (as opposed to employment-based proxies) we
estimate the effects of alternative sources of dynamic externalities at the local level. In …

Differences between the American, or more generally anglo-saxon model of the welfare
state and labour market flexibility resulting in lower unemployment figures and the …