Recessions nearly tripled amount of Italian NPLs, paper argues
Counterfactual analysis looks at bad loan development in the absence of crises
Recent recessions have nearly tripled the amount of non-performing loans (NPLs) in the Italian economy, an occasional paper issued by the Bank of Italy argues.
In The evolution of bad debt in Italy during the global financial crisis and the sovereign debt crisis: a counterfactual analysis, Alessandro Notarpietro and Lisa Rodano use the Bank of Italy's quarterly model. They run a "no-crises scenario" covering the years from 2008 to 2015, in which neither the recession caused by the subprime
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