Bank of Italy
High corporate debt harms Italy’s productivity, IMF research says
Policymakers should look at discouraging structural corporate debt, researchers say
Italian consumer lending more risk-priced post-2008 – paper
Institutions tightened lending to consumers based on household factors
Eurozone needs structural reforms to realign real exchange rates – Italian paper
Real exchange rate misalignments persist for longer in eurozone, researchers say
Fall in hours worked can flatten Phillips curve, Italian paper says
Changes to “intensive margin of labour utilisation” may make inflation less responsive to employment
Eurozone countries’ manufacturing sectors are diverging, Italian paper finds
Manufacturing profits rise relative to non-tradables in Germany and Spain, but fall in France and Italy
Complex instruments still pose systemic risks – paper
Discretion granted by financial reporting standards increases opacity and complexity, say authors
Policymakers need wider range of systemic risk models – paper
Researchers attempt to combine systemic importance and systemic risk approaches
Paper: foreign fund inflows raised US pre-crisis risk-taking
The Bank of Italy paper correlates data on foreign inflows with four indicators of risk
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
Visco cautions ECB against forced sales of NPLs
Move to set minimum sell-offs could hamper banks’ recovery, Bank of Italy governor says
European firms’ net debt cramped investment, Bank of Italy paper finds
Paper looks at eurozone and UK firms from 2006 to 2012
Italian premier proposes Visco for a second term, despite opposition
Former prime minister Renzi tried to derail governor’s renewal, questioning his record on supervision
G7 governors and ministers set out principles for assessing cyber security
The guidelines build on ‘Fundamental principles of cybersecurity’, published in October
Italian finance sector must change, deputy governor says
Banks too exposed to cyclical conditions and firms too dependent on loans, Rossi says
Only 30% probability of eurozone inflation hitting target in next year, paper says
Italian researchers present composite index based on 15 indicators of price dynamics
Verbs matter in forward guidance – Italian paper
Researchers look at verbs used in ECB statements from 2002 to 2015
Italian paper looks at effects of crisis on interbank network
Integration fell in 2007–8 but rose after ECB adopted unconventional policy, paper finds
‘Multiple lending’ may cause contagion during stress – paper
Researchers say multiple lending may ease liquidity shocks in normal conditions, however
The ECB must reform Target2 to make it sustainable
Target2 has emerged as the eurozone’s financing entity for ballooning structural balance-of-payments gaps. The present system is unsustainable and needs reform, says Philip Turner
Uncertainty weakens bank lending channel, Bank of Italy paper says
Researchers use database of loan applications from 650,000 firms
Bank of Italy paper finds no evidence of asset over-valuation
Researchers look at data from eurozone, Japan and US from 1980 to 2017
Cash holdings lessen chance of ‘forced sales’ by mutual funds, paper says
Researchers use data on Italian open-ended mutual funds
Italian banks will not block recovery – deputy governor
Further reforms of loan law are necessary, says Rossi
Financial constraints fuel price mark-ups, Italian paper finds
Researchers use data on Italian economy in 2010 to 2013