Publications
The Research Center for Monetary and Financial Studies “Mario Arcelli” (CASMEF) promotes the publication of research and studies on monetary economics, banking, financial markets, and financial regulation. Here you can find the latest entries.
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Il capitale di rischio e la crescita economica in Italia e in Europa. Il ruolo della consulenza finanziaria tra vincoli e opportunità.
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Financial development, financial specialization, and trade
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Out of sight, out of mind? Global value chains and credit allocation in bad times
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Systemic risk in the European insurance sector
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Real effects of bank shocks
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Banking development and the economic impact of natural disasters: From short to long term effects
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Credit shocks, lending relationships and economic activity
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Sustainable mutual funds through the COVID-19: Evidence from fixed income flows to euro area
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Open innovation in family-owned firms
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SMEs and the going public challenge
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State-dependent effects of loan-to-value shocks
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Collateral shocks, lending relationships and economic dynamics
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Shocks to the lending standards and the macroeconomy
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The Distributional Impact of Local Banking. Evidence from the Financial and Sovereign-Debt Crises
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Previdenza complementare e consulenza finanziaria: la sfida dei nuovi scenari demografici e del ricambio generazionale
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Credit Constraints and Open Innovation Strategies
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We Forward Guidance in Small Open Economy
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Asset Price Bubbles with Low Interest Rates: Not All Bubbles Are Likely
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Relationship Lending and the Use of Trade Credit: The Role of Relational Capital and Private Information
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Systemic Risk and the COVID Challenge in the European Banking Sector
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Come può il settore del tabacco contribuire alla fase di ripartenza?
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Credit Markets, Relationship Banking, and Firm Entry
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Growing Through Spinoffs. Corporate Governance, Entry, and Innovation
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The Economics of Helicopter Money
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The Risk Weighted Ownership Index: An Ex-Ante Measure of Banks’ Risk and Performance
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A view on recent corporate spin-offs in advanced economies
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Not All Banks Are Equal. Cooperative Banking and Income Inequality
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Market-Timing Performance of Mutual Fund Investors in Emerging Markets
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Lending Infrastructure and Credit Rationing of European SMEs
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Guerello C, Murè P, Rovo N, Spallone M. Is There a Regulatory Trade-Off Between Stability and Performance?
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Fiscal Shocks and Helicopter Money in Open Economy
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Markets Structure and Secular Stagnation
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Can Hedge Funds Time the Market?
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Learning with Uncertain Inflation Target
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Global factors, international spillovers, and term structure of interest rates: new evidence for asias countries
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Local Currency Risk
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Italian Banking Supervision under the SSM Principles: An Analysis of the Sanctioning Activity
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Robust Trading for Ambiguity-Averse Insiders
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Monetary Policy, Liquidity, and Consumption Inequality: A Comment on Williamson (2012)
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The Bank-Firm Relationship in Default Prediction Models. An Analysis on a Sample of Italian Firms
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Financial Constraints Firms Supply Chains and Internationalization
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Pension Funds’ Asset Allocation in a High-Rate Environment
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Government Spending and the Exchange Rate
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The Impact of Criminality on the Riskiness of Cooperative Credit Banks in Italy: A Macro Regional Approach
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Estimating Non-Linear DSGEs with the Approximate Bayesian Computation: An Application to the Zero Lower Bound
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Stressing the European Banks: An Evaluation of the Comprehensive Assessment
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Unemployment Fluctuations and the Predictability of Currency Returns
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Financial Regulation and Supervision in Europe: Emerging Trends, Costs and Effectiveness
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L’Intermediazione Assicurativa tra Nuove Regole e Compliance
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Does Foreign Aid Fuel Trust?
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Chasing Stock Market Returns
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Estimating Banks’ Interest Rate Risk in the Banking Book: Beyond the Drawbacks of the Current Regulatory Framework
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Risk Premia in Long-Duration Sovereign Bonds
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Credit Reallocation, Deleveraging, and Financial Crises.
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Innovation, Financial Constraints and Relationship Lending: Firm-Level Evidence in Times of Crisis
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Financial Markets, Industry Dynamics, and Growth.
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The Effectiveness of Non-Standard Monetary Policy Measures: Evidence from Survey Data
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One Size Does Not Fit All. A Non-Linear Analysis of European Monetary Transmission.
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La Valutazione del Merito Creditizio per le Reti d’Impresa
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How Effective Is Central Bank Forward Guidance
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Financial Markets, Banks’ Cost of Funding, and Firms’ Decisions: Lessons from Two Crises
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The Economics of Private Digital Currency
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Fiscal Shocks and the Exchange Rate
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Le Sanzioni Amministrative per le Banche Italiane: Effetti sulle Performance (Prima Parte)
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Le Nuove Disposizioni di Vigilanza in Materia di Controlli Interni: Le Prime Evidenze del III Pilastro
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Banche Locali e PMI nel Mercato del Credito: dalla Crisi un Forte Impulso per Rivedere la Relazione in Chiave Evoluzionistica
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Local Banking Development and Income Distribution across Italian Provinces
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Pessimistic Optimal Choice for Risk-Averse Agents
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La Trasmissione della Politica Monetaria Unica e gli Effetti sulle Banche Locali
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Do Banks Price Discriminate Spatially? Evidence from Small Business Lending in Local Credit Markets
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Family Firms, Corporate Governance, and Export
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On the Dynamics of Industrial Stock Market Excess Returns
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SME Financing and the Choice of Lending Technology in Italy: Complementarity or Substitutability?
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Systemic Risk in the European Banking Sector
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Animal Spirits in Entrepreneurial Innovation: Theory and Evidence
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Il Collocamento e la Distribuzione dei Prodotti Finanziari in Europa
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Do Firm-Bank “Odd Couples” Exacerbate Credit Rationing?
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Exchange Rate, External Orientation of Firms and Wage Adjustment
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The Equity Risk Premium: Empirical Evidence from Emerging Markets
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Were Multinational Banks Taking Excessive Risks Before the Recent Financial Crisis?
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Credit Crunches, Asset Prices and Technological Change
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Equity Options, Credit Default Swaps e Leverage: Un Semplice Modello a Volatilità Stocastica per i Derivati Azionari e Creditizi
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Una proposta di revisione dei questionari per la profilatura della clientela
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Linear Risk-Averse Optimal Control Problems: Applications in Economics and Finance
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SMEs and the Challenge to Go Public: Evidence from a Recent Survey
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I Debiti Sovrani nell’Area Euro: Implicazioni per la Gestione e la Distribuzione dei Prodotti di Risparmio
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Optimal Monetary Policy and Stock-Price Dynamics in a Non-Ricardian DSGE Model
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Analisi dell’Elasticità della Domanda nel Mercato dei Tabacchi Lavorati in Italia
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L’Elasticità della Domanda nel Mercato Italiano dei Giochi: Inquadramento Generale ed Analisi dei Casi del Lotto e del Superenalotto
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Optimal Monetary Policy and Stock-Price Dynamics in a Non-Ricardian DSGE Model
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The Loss from Uncertainty on Policy Targets
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An Investigation over the Strategic Implications of Environmental Monitoring
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Monetary Policy, Liquidity Stress and Learning Dynamics
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Productivity Shocks, Stabilization Policies and the Dynamics of Net Foreign Assets.
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Sanctions Compliance Costs in the Banking Sector