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Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age

Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age »

Volume/Issue: 2020/282

Series: IMF Working Papers

Author(s): Francesca Caselli , Francesco Grigoli , Damiano Sandri , and Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

DOI: http://dx.doi.org/10.5089/9781513563961.001

ISBN: 9781513563961

Keywords: Women, Aging, Gender, COVID-19 , Education, lockdown, mobility, age., WP, lockdown measure

Lockdowns and voluntary social distancing led to significant reduction in people's mobility. Yet, there is scant evidence on the heterogeneous effects across segments of the population. Using unique mobility indica...

Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age*

Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age* »

Source: Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age

Volume/Issue: 2020/282

Series: IMF Working Papers

Author(s): Francesca Caselli , Francesco Grigoli , Damiano Sandri , and Antonio Spilimbergo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 December 2020

ISBN: 9781513563961

Keywords: Women, Aging, Gender, COVID-19 , Education, lockdown, mobility, age., WP, lockdown measure

Lockdowns and voluntary social distancing led to significant reduction in people's mobility. Yet, there is scant evidence on the heterogeneous effects across segments of the population. Using unique mobility indica...

Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19

Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19 »

Volume/Issue: 2020/181

Series: IMF Working Papers

Author(s): Nicoletta Batini , Francesco Lamperti , and Andrea Roventini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 September 2020

DOI: http://dx.doi.org/10.5089/9781513551920.001

ISBN: 9781513551920

Keywords: Fiscal union, Financial crises, Public debt, Moral hazard, COVID-19 , WP, risk sharing, EU bond, EU risk

The COVID-19 lockdowns have brought about the need of large fiscal responses in all European countries. However, countries across Europe are differently equipped to respond to the shock due to differences in econom...

Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19*

Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19* »

Source: Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19

Volume/Issue: 2020/181

Series: IMF Working Papers

Author(s): Nicoletta Batini , Francesco Lamperti , and Andrea Roventini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 September 2020

ISBN: 9781513551920

Keywords: Fiscal union, Financial crises, Public debt, Moral hazard, COVID-19 , WP, risk sharing, EU bond, EU risk

The COVID-19 lockdowns have brought about the need of large fiscal responses in all European countries. However, countries across Europe are differently equipped to respond to the shock due to differences in econom...

Italy
			: Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision and Bank Governance

Italy : Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision and Bank Governance »

Volume/Issue: 192020/236

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

DOI: http://dx.doi.org/10.5089/9781513552187.002

ISBN: 9781513552187

This note presents a targeted review of selected aspects concerning the regulation and supervision of banks in Italy and their governance framework. The review was carried out as part of the 2019 Italy Financial Se...

Italy
			: Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements

Italy : Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements »

Volume/Issue: 192020/235

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

DOI: http://dx.doi.org/10.5089/9781513552163.002

ISBN: 9781513552163

Keywords: Financial regulation and supervision, Financial crises, Macroprudential policies and financial stability, Financial institutions, Financial instruments, ISCR, CR, FITD, crisis-management, DGS

The Italian financial safety net and crisis-management framework has been substantially strengthened since the 2013 FSAP. Among others, the authorities have enhanced the early intervention framework, introduced a n...

Italy
			: Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision

Italy : Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision »

Volume/Issue: 192020/233

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

DOI: http://dx.doi.org/10.5089/9781513552149.002

ISBN: 9781513552149

This technical note (TN) provides an update and an assessment of the supervisory framework and practices for the Italian insurance sector since the last assessment concluded in 2013. The mission conducted a target...

Italy
			: Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis and Stress Testing of the Banking and Corporate Sectors

Italy : Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis and Stress Testing of the Banking and Corporate Sectors »

Volume/Issue: 192020/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

DOI: http://dx.doi.org/10.5089/9781513552217.002

ISBN: 9781513552217

The Financial Sector Assessment Program (FSAP) took place against the backdrop of an ongoing recovery of the financial system. Since the global financial crisis (GFC), financial regulation has been substantially en...

Italy
			: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight Framework and Macroprudential Policy

Italy : Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight Framework and Macroprudential Policy »

Volume/Issue: 192020/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

DOI: http://dx.doi.org/10.5089/9781513552194.002

ISBN: 9781513552194

Macroprudential oversight in Italy combines local elements with the European framework. At a local level, financial stability is a shared responsibility between Banca d'Italia (BdI), which is the national central b...

Italy
			: Financial Sector Assessment Program-Technical Note-Tackling Non-Performing Assets

Italy : Financial Sector Assessment Program-Technical Note-Tackling Non-Performing Assets »

Volume/Issue: 192020/234

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

DOI: http://dx.doi.org/10.5089/9781513552156.002

ISBN: 9781513552156

Banks' asset quality has substantially improved in recent years but remains well below European peers. Non-performing loans (NPLs) fell from 161/2 percent in 2015 to about 8.1 percent at end-June 2019, achieved mai...

Italy

Italy »

Source: Italy : Financial Sector Assessment Program-Technical Note-Banking Regulation and Supervision and Bank Governance

Volume/Issue: 192020/236

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513552187

This note presents a targeted review of selected aspects concerning the regulation and supervision of banks in Italy and their governance framework. The review was carried out as part of the 2019 Italy Financial Se...

Italy

Italy »

Source: Italy : Financial Sector Assessment Program-Technical Note-Insurance Sector Regulation and Supervision

Volume/Issue: 192020/233

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513552149

This technical note (TN) provides an update and an assessment of the supervisory framework and practices for the Italian insurance sector since the last assessment concluded in 2013. The mission conducted a target...

Italy

Italy »

Source: Italy : Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements

Volume/Issue: 192020/235

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513552163

Keywords: Financial regulation and supervision, Financial crises, Macroprudential policies and financial stability, Financial institutions, Financial instruments, ISCR, CR, FITD, crisis-management, DGS

The Italian financial safety net and crisis-management framework has been substantially strengthened since the 2013 FSAP. Among others, the authorities have enhanced the early intervention framework, introduced a n...

Italy

Italy »

Source: Italy : Financial Sector Assessment Program-Technical Note-Systemic Risk Analysis and Stress Testing of the Banking and Corporate Sectors

Volume/Issue: 192020/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513552217

The Financial Sector Assessment Program (FSAP) took place against the backdrop of an ongoing recovery of the financial system. Since the global financial crisis (GFC), financial regulation has been substantially en...

Italy

Italy »

Source: Italy : Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight Framework and Macroprudential Policy

Volume/Issue: 192020/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513552194

Macroprudential oversight in Italy combines local elements with the European framework. At a local level, financial stability is a shared responsibility between Banca d'Italia (BdI), which is the national central b...

Italy

Italy »

Source: Italy : Financial Sector Assessment Program-Technical Note-Tackling Non-Performing Assets

Volume/Issue: 192020/234

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 August 2020

ISBN: 9781513552156

Banks' asset quality has substantially improved in recent years but remains well below European peers. Non-performing loans (NPLs) fell from 161/2 percent in 2015 to about 8.1 percent at end-June 2019, achieved mai...

IMF Executive Board Concludes 2020 Article IV Consultation with Italy

IMF Executive Board Concludes 2020 Article IV Consultation with Italy »

Source: Italy : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2020/79

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

ISBN: 9781513537436

Keywords: Economic indicators, Balance of payments, Unemployment, International investment position, Gross domestic product, ISCR, CR, staff report, potential growth, bank of Italy

This 2020 Article IV Consultation with Italy reflects discussions with the Italian authorities in January 2020 and is based on the information available as of January 28, 2020. It focuses on Italy's medium-term cha...

Italy
			: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Italy : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy »

Volume/Issue: 2020/79

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

DOI: http://dx.doi.org/10.5089/9781513537436.002

ISBN: 9781513537436

Keywords: Economic indicators, Balance of payments, Unemployment, International investment position, Gross domestic product, ISCR, CR, staff report, potential growth, bank of Italy

This 2020 Article IV Consultation with Italy reflects discussions with the Italian authorities in January 2020 and is based on the information available as of January 28, 2020. It focuses on Italy's medium-term cha...

Italy
			: Financial System Stability Assessment

Italy : Financial System Stability Assessment »

Volume/Issue: 2020/81

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

DOI: http://dx.doi.org/10.5089/9781513537627.002

ISBN: 9781513537627

Keywords: Financial markets, Macroprudential policies and financial stability, Financial institutions, Financial systems, Bank liquidity, ISCR, CR, NPL, SIs, weak bank

This Financial System Stability Assessment paper on Italy highlights that substantial progress has been made in recent years in strengthening the financial sector, however, important weaknesses remain. Bank capital...

Italy

Italy »

Source: Italy : Financial System Stability Assessment

Volume/Issue: 2020/81

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Monetary and Capital Markets Department

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

ISBN: 9781513537627

Keywords: Financial markets, Macroprudential policies and financial stability, Financial institutions, Financial systems, Bank liquidity, ISCR, CR, NPL, SIs, weak bank

This Financial System Stability Assessment paper on Italy highlights that substantial progress has been made in recent years in strengthening the financial sector, however, important weaknesses remain. Bank capital...

Italy: 2020 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Italy

Italy: 2020 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Italy »

Source: Italy : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2020/79

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

ISBN: 9781513537436

Keywords: Economic indicators, Balance of payments, Unemployment, International investment position, Gross domestic product, ISCR, CR, staff report, potential growth, bank of Italy

This 2020 Article IV Consultation with Italy reflects discussions with the Italian authorities in January 2020 and is based on the information available as of January 28, 2020. It focuses on Italy's medium-term cha...

Italy: Staff Report for the 2020 Article IV Consultation—Informational Annex

Italy: Staff Report for the 2020 Article IV Consultation—Informational Annex »

Source: Italy : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2020/79

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

ISBN: 9781513537436

Keywords: Economic indicators, Balance of payments, Unemployment, International investment position, Gross domestic product, ISCR, CR, staff report, potential growth, bank of Italy

This 2020 Article IV Consultation with Italy reflects discussions with the Italian authorities in January 2020 and is based on the information available as of January 28, 2020. It focuses on Italy's medium-term cha...

Italy: Staff Report for the 2020 Article IV Consultation—Supplementary Information

Italy: Staff Report for the 2020 Article IV Consultation—Supplementary Information »

Source: Italy : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2020/79

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

ISBN: 9781513537436

Keywords: Economic indicators, Balance of payments, Unemployment, International investment position, Gross domestic product, ISCR, CR, staff report, potential growth, bank of Italy

This 2020 Article IV Consultation with Italy reflects discussions with the Italian authorities in January 2020 and is based on the information available as of January 28, 2020. It focuses on Italy's medium-term cha...

Statement by Domenico Fanizza, Executive Director for Italy March 18, 2020

Statement by Domenico Fanizza, Executive Director for Italy March 18, 2020 »

Source: Italy : 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2020/79

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 March 2020

ISBN: 9781513537436

Keywords: Economic indicators, Balance of payments, Unemployment, International investment position, Gross domestic product, ISCR, CR, staff report, potential growth, bank of Italy

This 2020 Article IV Consultation with Italy reflects discussions with the Italian authorities in January 2020 and is based on the information available as of January 28, 2020. It focuses on Italy's medium-term cha...

Identifying Service Market Reform Priorities in Italy1

Identifying Service Market Reform Priorities in Italy1 »

Source: Identifying Service Market Reform Priorities in Italy

Volume/Issue: 2020/39

Series: IMF Working Papers

Author(s): Nazim Belhocine , and Daniel Garcia-Macia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

ISBN: 9781513529998

Keywords: Total factor productivity, Price indexes, Unemployment, Development, Labor productivity, service market reform, firm entry/exit barriers, markups, productivity., WP

Italy's labor productivity in market services has declined since 2000, underperforming manufacturing and peer European countries, especially in strongly regulated sectors. A model of monopolistic competition is use...

Identifying Service Market Reform Priorities in Italy

Identifying Service Market Reform Priorities in Italy »

Volume/Issue: 2020/39

Series: IMF Working Papers

Author(s): Nazim Belhocine , and Daniel Garcia-Macia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

DOI: http://dx.doi.org/10.5089/9781513529998.001

ISBN: 9781513529998

Keywords: Total factor productivity, Price indexes, Unemployment, Development, Labor productivity, service market reform, firm entry/exit barriers, markups, productivity., WP

Italy's labor productivity in market services has declined since 2000, underperforming manufacturing and peer European countries, especially in strongly regulated sectors. A model of monopolistic competition is use...

Labor Costs and Corporate Investment in Italy

Labor Costs and Corporate Investment in Italy »

Volume/Issue: 2020/38

Series: IMF Working Papers

Author(s): Daniel Garcia-Macia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

DOI: http://dx.doi.org/10.5089/9781513529721.001

ISBN: 9781513529721

Keywords: National accounts, Labor costs, Financial crises, Capital formation, Unit labor cost, corporate investment, capital returns, corporate profitability., WP, wage growth

The recovery of private investment in Italy has lagged its euro area peers over the past decade. This paper examines the role of elevated labor costs in hindering the recovery. Specifically, labor costs rose faster...

Lessons from Two Public Sector Reforms in Italy

Lessons from Two Public Sector Reforms in Italy »

Volume/Issue: 2020/40

Series: IMF Working Papers

Author(s): Nazim Belhocine , and La-Bhus Fah Jirasavetakul

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

DOI: http://dx.doi.org/10.5089/9781513529714.001

ISBN: 9781513529714

Keywords: Public investments, Demographic indicators, Economic growth, Financial crises, Public procurement, Italy, public administration reform, public sector, state-owned enterprises, public procurement.

The reform of the Italian public administration has been a priority for at least two decades, with several major initiatives undertaken toward modernization and simplification. Notwithstanding laudable intentions,...

Toward a Comprehensive Tax Reform for Italy

Toward a Comprehensive Tax Reform for Italy »

Volume/Issue: 2020/37

Series: IMF Working Papers

Author(s): Emile Cammeraat , and Ernesto Crivelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

DOI: http://dx.doi.org/10.5089/9781513529226.001

ISBN: 9781513529226

Keywords: Recurrent taxes on immovable property, Tax revenue, Tax reforms, Tax evasion, Tax rates, Italy, personal income tax, VAT, property tax, microsimulations

This paper evaluates elements of a comprehensive reform of the Italian tax system. Reform options are guided by the principles of reducing complexity, broadening the tax base, and lowering marginal tax rates, espec...

Labor Costs and Corporate Investment in Italy1

Labor Costs and Corporate Investment in Italy1 »

Source: Labor Costs and Corporate Investment in Italy

Volume/Issue: 2020/38

Series: IMF Working Papers

Author(s): Daniel Garcia-Macia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

ISBN: 9781513529721

Keywords: National accounts, Labor costs, Financial crises, Capital formation, Unit labor cost, corporate investment, capital returns, corporate profitability., WP, wage growth

The recovery of private investment in Italy has lagged its euro area peers over the past decade. This paper examines the role of elevated labor costs in hindering the recovery. Specifically, labor costs rose faster...

Lessons from Two Public Sector Reforms in Italy1

Lessons from Two Public Sector Reforms in Italy1 »

Source: Lessons from Two Public Sector Reforms in Italy

Volume/Issue: 2020/40

Series: IMF Working Papers

Author(s): Nazim Belhocine , and La-Bhus Fah Jirasavetakul

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

ISBN: 9781513529714

Keywords: Public investments, Demographic indicators, Economic growth, Financial crises, Public procurement, Italy, public administration reform, public sector, state-owned enterprises, public procurement.

The reform of the Italian public administration has been a priority for at least two decades, with several major initiatives undertaken toward modernization and simplification. Notwithstanding laudable intentions,...

Toward a Comprehensive Tax Reform for Italy1

Toward a Comprehensive Tax Reform for Italy1 »

Source: Toward a Comprehensive Tax Reform for Italy

Volume/Issue: 2020/37

Series: IMF Working Papers

Author(s): Emile Cammeraat , and Ernesto Crivelli

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 February 2020

ISBN: 9781513529226

Keywords: Recurrent taxes on immovable property, Tax revenue, Tax reforms, Tax evasion, Tax rates, Italy, personal income tax, VAT, property tax, microsimulations

This paper evaluates elements of a comprehensive reform of the Italian tax system. Reform options are guided by the principles of reducing complexity, broadening the tax base, and lowering marginal tax rates, espec...

Credit Supply and Productivity Growth

Credit Supply and Productivity Growth »

Source: Credit Supply and Productivity Growth

Volume/Issue: 2019/107

Series: IMF Working Papers

Author(s): Francesco Manaresi , and Nicola Pierri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 2019

ISBN: 9781498315258

Keywords: Total factor productivity, Credit risk, Credit, Credit demand, Credit expansion, Credit Supply, Productivity, Export, Management, IT adoption

We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyn...

Credit Supply and Productivity Growth

Credit Supply and Productivity Growth »

Volume/Issue: 2019/107

Series: IMF Working Papers

Author(s): Francesco Manaresi , and Nicola Pierri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 May 2019

DOI: http://dx.doi.org/10.5089/9781498315258.001

ISBN: 9781498315258

Keywords: Total factor productivity, Credit risk, Credit, Credit demand, Credit expansion, Credit Supply, Productivity, Export, Management, IT adoption

We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyn...

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data »

Volume/Issue: 2019/44

Series: IMF Working Papers

Author(s): Margherita Bottero , Camelia Minoiu , José-Luis Peydro , Andrea Polo , Andrea Presbitero , and Enrico Sette

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2019

DOI: http://dx.doi.org/10.5089/9781498300858.001

ISBN: 9781498300858

Keywords: Bank credit, Reserve requirements, Interest rates on loans, Central banks, Bank liquidity, Negative interest rates, portfolio rebalancing, bank lending channel, liquidity management, Eurozone crisis

We study negative interest rate policy (NIRP) exploiting ECB's NIRP introduction and administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary effects on credit supply-- -and hence...

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data1

Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data1 »

Source: Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data

Volume/Issue: 2019/44

Series: IMF Working Papers

Author(s): Margherita Bottero , Camelia Minoiu , José-Luis Peydro , Andrea Polo , Andrea Presbitero , and Enrico Sette

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 February 2019

ISBN: 9781498300858

Keywords: Bank credit, Reserve requirements, Interest rates on loans, Central banks, Bank liquidity, Negative interest rates, portfolio rebalancing, bank lending channel, liquidity management, Eurozone crisis

We study negative interest rate policy (NIRP) exploiting ECB's NIRP introduction and administrative data from Italy, severely hit by the Eurozone crisis. NIRP has expansionary effects on credit supply-- -and hence...

Sovereigns and Financial Intermediaries Spillovers

Sovereigns and Financial Intermediaries Spillovers »

Volume/Issue: 2019/43

Series: IMF Working Papers

Author(s): Hamid Tabarraei , Abdelaziz Rouabah , and Olivier Pierrard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2019

DOI: http://dx.doi.org/10.5089/9781498300704.001

ISBN: 9781498300704

Keywords: Central banks, Interest rates on loans, Bank capital, Market interest rates, Bank liquidity, Sovereign risk, Contagion, Interbank market, interbank, deposit rate

We examine the spillover effects between sovereigns and banks in a model with a heterogeneous banking system. An increase in sovereign's default risk affects financial intermediaries through two channels in this mo...

Sovereigns and Financial Intermediaries Spillovers

Sovereigns and Financial Intermediaries Spillovers »

Source: Sovereigns and Financial Intermediaries Spillovers

Volume/Issue: 2019/43

Series: IMF Working Papers

Author(s): Hamid Tabarraei , Abdelaziz Rouabah , and Olivier Pierrard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 February 2019

ISBN: 9781498300704

Keywords: Central banks, Interest rates on loans, Bank capital, Market interest rates, Bank liquidity, Sovereign risk, Contagion, Interbank market, interbank, deposit rate

We examine the spillover effects between sovereigns and banks in a model with a heterogeneous banking system. An increase in sovereign's default risk affects financial intermediaries through two channels in this mo...

IMF Executive Board Concludes 2018 Article IV Consultation with Italy

IMF Executive Board Concludes 2018 Article IV Consultation with Italy »

Source: Italy : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2019/40

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

ISBN: 9781484397718

Keywords: Article IV consultation reports, Fiscal reforms, Productivity, Fiscal policy, Financial sector, Financial stability, Economic indicators, Press releases, Staff Reports, External sector

This 2018 Article IV Consultation highlights that Italy has been struggling with low economic growth and poor social outcomes and structural weaknesses have been at the core of this economic underperformance. Growt...

Italy
			: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Italy : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy »

Volume/Issue: 2019/40

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

DOI: http://dx.doi.org/10.5089/9781484397718.002

ISBN: 9781484397718

Keywords: Article IV consultation reports, Fiscal reforms, Productivity, Fiscal policy, Financial sector, Financial stability, Economic indicators, Press releases, Staff Reports, External sector

This 2018 Article IV Consultation highlights that Italy has been struggling with low economic growth and poor social outcomes and structural weaknesses have been at the core of this economic underperformance. Growt...

Italy
			: Selected Issues

Italy : Selected Issues »

Volume/Issue: 2019/41

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

DOI: http://dx.doi.org/10.5089/9781484397787.002

ISBN: 9781484397787

Keywords: Europe, Italy, Tax reforms, Tax evasion, Tax rates, Tax revenue, Tax incentives, REI, means test, welfare system

This Selected Issues paper uses the tax-benefit microsimulation model for the European Union (EUROMOD) to evaluate possible reforms to modernize Italy's social safety net as well as ways to lower the tax wedge on l...

Italy

Italy »

Source: Italy : Selected Issues

Volume/Issue: 2019/41

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

ISBN: 9781484397787

Keywords: Europe, Italy, Tax reforms, Tax evasion, Tax rates, Tax revenue, Tax incentives, REI, means test, welfare system

This Selected Issues paper uses the tax-benefit microsimulation model for the European Union (EUROMOD) to evaluate possible reforms to modernize Italy's social safety net as well as ways to lower the tax wedge on l...

Italy: 2018 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Italy

Italy: 2018 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Italy »

Source: Italy : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2019/40

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

ISBN: 9781484397718

Keywords: Article IV consultation reports, Fiscal reforms, Productivity, Fiscal policy, Financial sector, Financial stability, Economic indicators, Press releases, Staff Reports, External sector

This 2018 Article IV Consultation highlights that Italy has been struggling with low economic growth and poor social outcomes and structural weaknesses have been at the core of this economic underperformance. Growt...

Italy: 2018 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Italy

Italy: 2018 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Italy »

Source: Italy : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2019/40

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

ISBN: 9781484397718

Keywords: Article IV consultation reports, Fiscal reforms, Productivity, Fiscal policy, Financial sector, Financial stability, Economic indicators, Press releases, Staff Reports, External sector

This 2018 Article IV Consultation highlights that Italy has been struggling with low economic growth and poor social outcomes and structural weaknesses have been at the core of this economic underperformance. Growt...

Italy: Staff Report for the 2018 Article IV Consultation—Supplementary Information

Italy: Staff Report for the 2018 Article IV Consultation—Supplementary Information »

Source: Italy : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2019/40

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

ISBN: 9781484397718

Keywords: Article IV consultation reports, Fiscal reforms, Productivity, Fiscal policy, Financial sector, Financial stability, Economic indicators, Press releases, Staff Reports, External sector

This 2018 Article IV Consultation highlights that Italy has been struggling with low economic growth and poor social outcomes and structural weaknesses have been at the core of this economic underperformance. Growt...

Statement by Domenico Fanizza, Executive Director for Italy January 25, 2019

Statement by Domenico Fanizza, Executive Director for Italy January 25, 2019 »

Source: Italy : 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2019/40

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 February 2019

ISBN: 9781484397718

Keywords: Article IV consultation reports, Fiscal reforms, Productivity, Fiscal policy, Financial sector, Financial stability, Economic indicators, Press releases, Staff Reports, External sector

This 2018 Article IV Consultation highlights that Italy has been struggling with low economic growth and poor social outcomes and structural weaknesses have been at the core of this economic underperformance. Growt...

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries1 »

Source: Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries

Volume/Issue: 2019/4

Series: IMF Working Papers

Author(s): Bernardin Akitoby , Jiro Honda , and Hiroaki Miyamoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2019

ISBN: 9781484390054

Keywords: Italy, Japan, Germany, Europe, Canada, Asia and Pacific, France, United Kingdom, United States, Western Hemisphere

Would countercyclical fiscal policy during recessions improve or worsen the gender employment gap? We give an answer to this question by exploring the state-dependent impact of fiscal spending shocks on employment...

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries

Countercyclical Fiscal Policy and Gender Employment: Evidence from the G-7 Countries »

Volume/Issue: 2019/4

Series: IMF Working Papers

Author(s): Bernardin Akitoby , Jiro Honda , and Hiroaki Miyamoto

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 January 2019

DOI: http://dx.doi.org/10.5089/9781484390054.001

ISBN: 9781484390054

Keywords: Italy, Japan, Germany, Europe, Canada, Asia and Pacific, France, United Kingdom, United States, Western Hemisphere

Would countercyclical fiscal policy during recessions improve or worsen the gender employment gap? We give an answer to this question by exploring the state-dependent impact of fiscal spending shocks on employment...

1. Domestic Expansion Running into External Turbulence

1. Domestic Expansion Running into External Turbulence »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Activity continued to expand in the first half of 2018, but at a slower-than-expected pace, mainly in advanced Europe. The external environment has become less supportive, with slow...

Executive Summary

Executive Summary »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment...

2. Macroprudential Policies and House Prices in Europe: An Overview of Recent Experiences

2. Macroprudential Policies and House Prices in Europe: An Overview of Recent Experiences »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

This chapter documents the increasing use of macroprudential policies (MaPPs) in Europe in recent years to build financial resilience, contain general and sectoral credit growth, an...

Regional Economic Outlook, October 2018, Europe
			: Domestic Expansion Running into External Turbulence

Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence »

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

DOI: http://dx.doi.org/10.5089/9781484375402.086

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment and wages, remains the main engin...

Front Matter

Front Matter »

Source: Regional Economic Outlook, October 2018, Europe : Domestic Expansion Running into External Turbulence

Series: Regional Economic Outlook

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2018

ISBN: 9781484375402

Keywords: Europe, Regional Economic Outlook, economic outlook, financial conditions, fiscal policy, monetary policy, emerging Europe, advanced Europe

Economic activity continued to expand in the first half of 2018, albeit at a slower-than-expected pace, mainly in advanced Europe. Domestic demand, supported by stronger employment and wages, remains the main engin...

The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment

The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment »

Volume/Issue: 2018/218

Series: IMF Working Papers

Author(s): Nazim Belhocine , Daniel Garcia-Macia , and José Garrido

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2018

DOI: http://dx.doi.org/10.5089/9781484378427.001

ISBN: 9781484378427

Keywords: Italy, Europe, special insolvency regime, extraordinary administration, bankruptcy of large enterprises, Corporation and Securities Law

The modernization of Italy's insolvency framework has been the subject of much interest in recent years, related not least to its role in potentially facilitating an efficient allocation of resources. A unique feat...

The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment1

The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment1 »

Source: The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment

Volume/Issue: 2018/218

Series: IMF Working Papers

Author(s): Nazim Belhocine , Daniel Garcia-Macia , and José Garrido

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 September 2018

ISBN: 9781484378427

Keywords: Italy, Europe, special insolvency regime, extraordinary administration, bankruptcy of large enterprises, Corporation and Securities Law

The modernization of Italy's insolvency framework has been the subject of much interest in recent years, related not least to its role in potentially facilitating an efficient allocation of resources. A unique feat...

Household Wealth and Resilience to Financial Shocks in Italy1

Household Wealth and Resilience to Financial Shocks in Italy1 »

Source: Household Wealth and Resilience to Financial Shocks in Italy

Volume/Issue: 2018/196

Series: IMF Working Papers

Author(s): Daniel Garcia-Macia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 August 2018

ISBN: 9781484374894

Keywords: Europe, Italy, Flow of funds, financial linkages, balance sheet analysis, bail-in, bailout, Portfolio Choice

High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction...

Household Wealth and Resilience to Financial Shocks in Italy

Household Wealth and Resilience to Financial Shocks in Italy »

Volume/Issue: 2018/196

Series: IMF Working Papers

Author(s): Daniel Garcia-Macia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 31 August 2018

DOI: http://dx.doi.org/10.5089/9781484374894.001

ISBN: 9781484374894

Keywords: Europe, Italy, Flow of funds, financial linkages, balance sheet analysis, bail-in, bailout, Portfolio Choice

High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction...

Employment Time and the Cyclicality of Earnings Growth

Employment Time and the Cyclicality of Earnings Growth »

Source: Employment Time and the Cyclicality of Earnings Growth

Volume/Issue: 2018/115

Series: IMF Working Papers

Author(s): Eran Hoffmann , and Davide Malacrino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2018

ISBN: 9781484353561

Keywords: Economic cycles, Europe, Italy, employment time, earnings growth, Economic Growth of Open Economies

We study how the distribution of earnings growth evolves over the business cycle in Italy. We distinguish between two sources of annual earnings growth: changes in employment time (number of weeks of employment wit...

Employment Time and the Cyclicality of Earnings Growth

Employment Time and the Cyclicality of Earnings Growth »

Volume/Issue: 2018/115

Series: IMF Working Papers

Author(s): Eran Hoffmann , and Davide Malacrino

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2018

DOI: http://dx.doi.org/10.5089/9781484353561.001

ISBN: 9781484353561

Keywords: Economic cycles, Europe, Italy, employment time, earnings growth, Economic Growth of Open Economies

We study how the distribution of earnings growth evolves over the business cycle in Italy. We distinguish between two sources of annual earnings growth: changes in employment time (number of weeks of employment wit...

Competitiveness and Wage Bargaining Reform in Italy1

Competitiveness and Wage Bargaining Reform in Italy1 »

Source: Competitiveness and Wage Bargaining Reform in Italy

Volume/Issue: 2018/61

Series: IMF Working Papers

Author(s): Alvar Kangur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2018

ISBN: 9781484347621

Keywords: Europe, Exports, Italy, Labor costs, competitiveness, exchange rate, labor market reforms, wage bargaining, search and matching, DSGE models

The growth of Italian exports has lagged that of euro area peers. Against the backdrop of unit labor costs that have risen faster than those in euro area peers, this paper examines whether there is a competitivenes...

Competitiveness and Wage Bargaining Reform in Italy

Competitiveness and Wage Bargaining Reform in Italy »

Volume/Issue: 2018/61

Series: IMF Working Papers

Author(s): Alvar Kangur

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2018

DOI: http://dx.doi.org/10.5089/9781484347621.001

ISBN: 9781484347621

Keywords: Europe, Exports, Italy, Labor costs, competitiveness, exchange rate, labor market reforms, wage bargaining, search and matching, DSGE models

The growth of Italian exports has lagged that of euro area peers. Against the backdrop of unit labor costs that have risen faster than those in euro area peers, this paper examines whether there is a competitivenes...

Italy: Quantifying the Benefits of a Comprehensive Reform Package

Italy: Quantifying the Benefits of a Comprehensive Reform Package »

Volume/Issue: 2018/60

Series: IMF Working Papers

Author(s): Michal Andrle , Alvar Kangur , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2018

DOI: http://dx.doi.org/10.5089/9781484347614.001

ISBN: 9781484347614

Keywords: Labor market reforms, Wage bargaining, Europe, Italy, Banking sector, Fiscal policy, growth, competitiveness, product market reforms, DSGE models

This paper seeks to quantify the net benefits of a comprehensive reform package aimed at addressing Italy's inter-related challenges. Specifically, it simulates the growth and competitiveness effects of a package o...

Italy: Toward a Growth-Friendly Fiscal Reform

Italy: Toward a Growth-Friendly Fiscal Reform »

Volume/Issue: 2018/59

Series: IMF Working Papers

Author(s): Michal Andrle , Shafik Hebous , Alvar Kangur , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2018

DOI: http://dx.doi.org/10.5089/9781484347584.001

ISBN: 9781484347584

Keywords: Europe, Italy, Growth-friendly fiscal policy, public pensions, dynamic stochastic general equilibrium models, Forecasting and Simulation, Social Security and Public Pensions, Italy

Published in late 2017, the Italian medium-term fiscal plan aims to achieve structural balance by 2020, although concrete, high-quality measures to meet the target are yet to be specified. This paper seeks to contr...

Italy: Quantifying the Benefits of a Comprehensive Reform Package1

Italy: Quantifying the Benefits of a Comprehensive Reform Package1 »

Source: Italy: Quantifying the Benefits of a Comprehensive Reform Package

Volume/Issue: 2018/60

Series: IMF Working Papers

Author(s): Michal Andrle , Alvar Kangur , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2018

ISBN: 9781484347614

Keywords: Labor market reforms, Wage bargaining, Europe, Italy, Banking sector, Fiscal policy, growth, competitiveness, product market reforms, DSGE models

This paper seeks to quantify the net benefits of a comprehensive reform package aimed at addressing Italy's inter-related challenges. Specifically, it simulates the growth and competitiveness effects of a package o...

Italy: Toward a Growth-Friendly Fiscal Reform1

Italy: Toward a Growth-Friendly Fiscal Reform1 »

Source: Italy: Toward a Growth-Friendly Fiscal Reform

Volume/Issue: 2018/59

Series: IMF Working Papers

Author(s): Michal Andrle , Shafik Hebous , Alvar Kangur , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 March 2018

ISBN: 9781484347584

Keywords: Europe, Italy, Growth-friendly fiscal policy, public pensions, dynamic stochastic general equilibrium models, Forecasting and Simulation, Social Security and Public Pensions, Italy

Published in late 2017, the Italian medium-term fiscal plan aims to achieve structural balance by 2020, although concrete, high-quality measures to meet the target are yet to be specified. This paper seeks to contr...

Corporate Indebtedness and Low Productivity Growth of Italian Firms1

Corporate Indebtedness and Low Productivity Growth of Italian Firms1 »

Source: Corporate Indebtedness and Low Productivity Growth of Italian Firms

Volume/Issue: 2018/33

Series: IMF Working Papers

Author(s): Gareth Anderson , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2018

ISBN: 9781484343265

Keywords: Productivity, Europe, Italy, Corporate debt, dynamic heterogeneous panel threshold models, cross-sectional dependence, Models with Panel Data, Firm Behavior: Empirical Analysis, General

Productivity growth in Italy has been persistently anemic and has lagged that of the euro area over the period 1999-2015, while the indebtedness of its corporate sector has increased. Using the ORBIS firm-level dat...

Corporate Indebtedness and Low Productivity Growth of Italian Firms

Corporate Indebtedness and Low Productivity Growth of Italian Firms »

Volume/Issue: 2018/33

Series: IMF Working Papers

Author(s): Gareth Anderson , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2018

DOI: http://dx.doi.org/10.5089/9781484343265.001

ISBN: 9781484343265

Keywords: Productivity, Europe, Italy, Corporate debt, dynamic heterogeneous panel threshold models, cross-sectional dependence, Models with Panel Data, Firm Behavior: Empirical Analysis, General

Productivity growth in Italy has been persistently anemic and has lagged that of the euro area over the period 1999-2015, while the indebtedness of its corporate sector has increased. Using the ORBIS firm-level dat...

Revisiting the Economic Case for Fiscal Union in the Euro Area

Revisiting the Economic Case for Fiscal Union in the Euro Area »

Volume/Issue: 2018/3

Series: Departmental Papers / Policy Papers

Author(s): Helge Berger , Giovanni Dell'Ariccia , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2018

DOI: http://dx.doi.org/10.5089/9781484340424.087

ISBN: 9781484340424

Keywords: Sweden, Switzerland, United Kingdom, Monetary unions, Spain, Italy, Fiscal policy, France, Germany, Greece

The paper makes an analytical contribution to the revived discussion about the euro area's institutional setup. After significant progress during the euro crisis, the drive to complete Europe's Economic and Monetar...

Revisiting the Economic Case for Fiscal Union in the Euro Area

Revisiting the Economic Case for Fiscal Union in the Euro Area »

Source: Revisiting the Economic Case for Fiscal Union in the Euro Area

Volume/Issue: 2018/3

Series: Departmental Papers / Policy Papers

Author(s): Helge Berger , Giovanni Dell'Ariccia , and Maurice Obstfeld

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 February 2018

ISBN: 9781484340424

Keywords: Sweden, Switzerland, United Kingdom, Monetary unions, Spain, Italy, Fiscal policy, France, Germany, Greece

The paper makes an analytical contribution to the revived discussion about the euro area's institutional setup. After significant progress during the euro crisis, the drive to complete Europe's Economic and Monetar...

Crisis and Reform: The 1893 Demise of Banca Romana

Crisis and Reform: The 1893 Demise of Banca Romana »

Source: Crisis and Reform: The 1893 Demise of Banca Romana

Volume/Issue: 2017/274

Series: IMF Working Papers

Author(s): Marco Pani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2017

ISBN: 9781484332979

Keywords: Italy, Europe, Bank supervision, Banking crisis, Financial crises, Banca Romana; Italy; issuing banks; banking crisis; bank supervision; corruption, Banca Romana, issuing banks, corruption, Search

More than a century later, the Banca Romana crisis still provides useful insights on the challenges of preserving financial stability. This paper reviews the case and discusses implications that can be relevant tod...

Crisis and Reform: The 1893 Demise of Banca Romana

Crisis and Reform: The 1893 Demise of Banca Romana »

Volume/Issue: 2017/274

Series: IMF Working Papers

Author(s): Marco Pani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 December 2017

DOI: http://dx.doi.org/10.5089/9781484332979.001

ISBN: 9781484332979

Keywords: Italy, Europe, Bank supervision, Banking crisis, Financial crises, Banca Romana; Italy; issuing banks; banking crisis; bank supervision; corruption, Banca Romana, issuing banks, corruption, Search

More than a century later, the Banca Romana crisis still provides useful insights on the challenges of preserving financial stability. This paper reviews the case and discusses implications that can be relevant tod...

Poverty Reduction and Growth Trust--2017 Borrowing Agreements with the Bank of Italy

Poverty Reduction and Growth Trust--2017 Borrowing Agreements with the Bank of Italy »

Volume/Issue: 2017/042

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2017

DOI: http://dx.doi.org/10.5089/9781498346559.007

ISBN: 9781498346559

Keywords: SDR interest rates, Interest rates, Freely usable currencies, Low income countries, Debt service schedule, paragraph, SDRs, purchaser, disbursement, loan

On July 17, 2017, the Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), entered into a new borrowing agreement (the 'Agreement') with the Bank of Italy (hereafter, Italy or Purchaser), by...

Poverty Reduction and Growth Trust--2017 Borrowing Agreements with the Bank of Italy

Poverty Reduction and Growth Trust--2017 Borrowing Agreements with the Bank of Italy »

Source: Poverty Reduction and Growth Trust--2017 Borrowing Agreements with the Bank of Italy

Volume/Issue: 2017/042

Series: Policy Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 28 July 2017

ISBN: 9781498346559

Keywords: SDR interest rates, Interest rates, Freely usable currencies, Low income countries, Debt service schedule, paragraph, SDRs, purchaser, disbursement, loan

On July 17, 2017, the Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT or Trust), entered into a new borrowing agreement (the 'Agreement') with the Bank of Italy (hereafter, Italy or Purchaser), by...

Bank Consolidation, Efficiency, and Profitability in Italy1

Bank Consolidation, Efficiency, and Profitability in Italy1 »

Source: Bank Consolidation, Efficiency, and Profitability in Italy

Volume/Issue: 2017/175

Series: IMF Working Papers

Author(s): Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484309261

Keywords: Banks, Europe, Italy, bank consolidation, profitability, Government Policy and Regulation, Government Policy and Regulation

This paper examines the case for efficiency-driven banking sector consolidation in Italy, evaluates its potential effects on profitability, and discusses policy options to facilitate a consolidation process that is...

IMF Executive Board Concludes 2017 Article IV Consultation with Italy

IMF Executive Board Concludes 2017 Article IV Consultation with Italy »

Source: Italy : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2017/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484312551

Keywords: Article IV consultation reports, Economic growth, Fiscal reforms, Financial stability, Fiscal consolidation, Pension reforms, Economic indicators, Balance of payments statistics, Debt sustainability analysis, Press releases

This 2017 Article IV Consultation highlights that the Italian economy is in the third year of a moderate recovery. Supported by exceptionally accommodative monetary policy, fiscal easing, low commodity prices, and...

Italy
			: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Italy : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy »

Volume/Issue: 2017/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

DOI: http://dx.doi.org/10.5089/9781484312551.002

ISBN: 9781484312551

Keywords: Article IV consultation reports, Economic growth, Fiscal reforms, Financial stability, Fiscal consolidation, Pension reforms, Economic indicators, Balance of payments statistics, Debt sustainability analysis, Press releases

This 2017 Article IV Consultation highlights that the Italian economy is in the third year of a moderate recovery. Supported by exceptionally accommodative monetary policy, fiscal easing, low commodity prices, and...

Italy
			: Selected Issues

Italy : Selected Issues »

Volume/Issue: 2017/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

DOI: http://dx.doi.org/10.5089/9781484312568.002

ISBN: 9781484312568

Keywords: Export growth, Export competitiveness, Wage bargaining, Real effective exchange rates, Fiscal reforms, Fiscal policy, Pensions, Government expenditures, Selected issues, Italy

This Selected Issues paper analyzes the competitiveness and wage bargaining reform in Italy. The growth of Italian exports has lagged that of euro area peers. Wages are set at the sectoral level and extended nation...

Bank Consolidation, Efficiency, and Profitability in Italy

Bank Consolidation, Efficiency, and Profitability in Italy »

Volume/Issue: 2017/175

Series: IMF Working Papers

Author(s): Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

DOI: http://dx.doi.org/10.5089/9781484309261.001

ISBN: 9781484309261

Keywords: Banks, Europe, Italy, bank consolidation, profitability, Government Policy and Regulation, Government Policy and Regulation

This paper examines the case for efficiency-driven banking sector consolidation in Italy, evaluates its potential effects on profitability, and discusses policy options to facilitate a consolidation process that is...

Italy: Selected Issues

Italy: Selected Issues »

Source: Italy : Selected Issues

Volume/Issue: 2017/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484312568

Keywords: Export growth, Export competitiveness, Wage bargaining, Real effective exchange rates, Fiscal reforms, Fiscal policy, Pensions, Government expenditures, Selected issues, Italy

This Selected Issues paper analyzes the competitiveness and wage bargaining reform in Italy. The growth of Italian exports has lagged that of euro area peers. Wages are set at the sectoral level and extended nation...

Italy: Selected Issues

Italy: Selected Issues »

Source: Italy : Selected Issues

Volume/Issue: 2017/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484312568

Keywords: Export growth, Export competitiveness, Wage bargaining, Real effective exchange rates, Fiscal reforms, Fiscal policy, Pensions, Government expenditures, Selected issues, Italy

This Selected Issues paper analyzes the competitiveness and wage bargaining reform in Italy. The growth of Italian exports has lagged that of euro area peers. Wages are set at the sectoral level and extended nation...

Italy: Selected Issues

Italy: Selected Issues »

Source: Italy : Selected Issues

Volume/Issue: 2017/238

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484312568

Keywords: Export growth, Export competitiveness, Wage bargaining, Real effective exchange rates, Fiscal reforms, Fiscal policy, Pensions, Government expenditures, Selected issues, Italy

This Selected Issues paper analyzes the competitiveness and wage bargaining reform in Italy. The growth of Italian exports has lagged that of euro area peers. Wages are set at the sectoral level and extended nation...

Italy: Staff Report for the 2017 Article IV Consultation

Italy: Staff Report for the 2017 Article IV Consultation »

Source: Italy : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2017/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484312551

Keywords: Article IV consultation reports, Economic growth, Fiscal reforms, Financial stability, Fiscal consolidation, Pension reforms, Economic indicators, Balance of payments statistics, Debt sustainability analysis, Press releases

This 2017 Article IV Consultation highlights that the Italian economy is in the third year of a moderate recovery. Supported by exceptionally accommodative monetary policy, fiscal easing, low commodity prices, and...

Italy: Staff Report for the 2017 Article IV Consultation—Informational Annex

Italy: Staff Report for the 2017 Article IV Consultation—Informational Annex »

Source: Italy : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2017/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484312551

Keywords: Article IV consultation reports, Economic growth, Fiscal reforms, Financial stability, Fiscal consolidation, Pension reforms, Economic indicators, Balance of payments statistics, Debt sustainability analysis, Press releases

This 2017 Article IV Consultation highlights that the Italian economy is in the third year of a moderate recovery. Supported by exceptionally accommodative monetary policy, fiscal easing, low commodity prices, and...

Statement by Mr. Carlo Cottarelli, Executive Director for Italy July 21, 2017

Statement by Mr. Carlo Cottarelli, Executive Director for Italy July 21, 2017 »

Source: Italy : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2017/237

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 July 2017

ISBN: 9781484312551

Keywords: Article IV consultation reports, Economic growth, Fiscal reforms, Financial stability, Fiscal consolidation, Pension reforms, Economic indicators, Balance of payments statistics, Debt sustainability analysis, Press releases

This 2017 Article IV Consultation highlights that the Italian economy is in the third year of a moderate recovery. Supported by exceptionally accommodative monetary policy, fiscal easing, low commodity prices, and...

Can Italy Grow Out of Its NPL Overhang? A Panel Threshold Analysis1

Can Italy Grow Out of Its NPL Overhang? A Panel Threshold Analysis1 »

Source: Can Italy Grow Out of Its NPL Overhang? A Panel Threshold Analysis

Volume/Issue: 2017/66

Series: IMF Working Papers

Author(s): Kamiar Mohaddes , Mehdi Raissi , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2017

ISBN: 9781475588651

Keywords: Italy, Europe, nonperforming loans, real output growth, panel tests of threshold effects, Models with Panel Data, Financial Markets and the Macroeconomy

This paper examines whether a tipping point exists for real GDP growth in Italy above which the ratio of non-performing loans (NPLs) to total loans falls significantly. Estimating a heterogeneous dynamic panel-thre...

Credit-Supply Shocks and Firm Productivity in Italy1

Credit-Supply Shocks and Firm Productivity in Italy1 »

Source: Credit-Supply Shocks and Firm Productivity in Italy

Volume/Issue: 2017/67

Series: IMF Working Papers

Author(s): Sebastian Dörr , Mehdi Raissi , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2017

ISBN: 9781475588668

Keywords: Financial crises, Europe, Italy, Productivity, credit-supply shocks, labor market rigidities, Financial Markets and the Macroeconomy

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a no...

Can Italy Grow Out of Its NPL Overhang? A Panel Threshold Analysis

Can Italy Grow Out of Its NPL Overhang? A Panel Threshold Analysis »

Volume/Issue: 2017/66

Series: IMF Working Papers

Author(s): Kamiar Mohaddes , Mehdi Raissi , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2017

DOI: http://dx.doi.org/10.5089/9781475588651.001

ISBN: 9781475588651

Keywords: Italy, Europe, nonperforming loans, real output growth, panel tests of threshold effects, Models with Panel Data, Financial Markets and the Macroeconomy

This paper examines whether a tipping point exists for real GDP growth in Italy above which the ratio of non-performing loans (NPLs) to total loans falls significantly. Estimating a heterogeneous dynamic panel-thre...

Credit-Supply Shocks and Firm Productivity in Italy

Credit-Supply Shocks and Firm Productivity in Italy »

Volume/Issue: 2017/67

Series: IMF Working Papers

Author(s): Sebastian Dörr , Mehdi Raissi , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2017

DOI: http://dx.doi.org/10.5089/9781475588668.001

ISBN: 9781475588668

Keywords: Financial crises, Europe, Italy, Productivity, credit-supply shocks, labor market rigidities, Financial Markets and the Macroeconomy

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a no...

Banks, Firms, and Jobs

Banks, Firms, and Jobs »

Source: Banks, Firms, and Jobs

Volume/Issue: 2017/38

Series: IMF Working Papers

Author(s): Fabio Berton , Sauro Mocetti , Andrea Presbitero , and Matteo Richiardi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 February 2017

ISBN: 9781475579017

Keywords: Financial crises, Loans, Business enterprises, Banks, Bank credit, Employment, Europe, External shocks, Italy, Labor markets

We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial...

Banks, Firms, and Jobs

Banks, Firms, and Jobs »

Volume/Issue: 2017/38

Series: IMF Working Papers

Author(s): Fabio Berton , Sauro Mocetti , Andrea Presbitero , and Matteo Richiardi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 February 2017

DOI: http://dx.doi.org/10.5089/9781475579017.001

ISBN: 9781475579017

Keywords: Financial crises, Loans, Business enterprises, Banks, Bank credit, Employment, Europe, External shocks, Italy, Labor markets

We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial...

Fiscal Rules to Tame the Political Budget Cycle

Fiscal Rules to Tame the Political Budget Cycle »

Source: Fiscal Rules to Tame the Political Budget Cycle : Evidence from Italian Municipalities

Volume/Issue: 2017/6

Series: IMF Working Papers

Author(s): Lorenzo Forni , and Andrea Bonfatti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 January 2017

ISBN: 9781475569971

Keywords: Time series, Fiscal rules, Italy, Europe, Government expenditures, Budgets, Regression analysis, local government finance, regression discontinuity, Cross-Sectional Models

The paper provides evidence that fiscal rules can limit the political budget cycle. It focuses on the application of the Italian fiscal rule at the sub-national level over the period 2004-2006 and shows that: 1) mu...

Fiscal Rules to Tame the Political Budget Cycle
			: Evidence from Italian Municipalities

Fiscal Rules to Tame the Political Budget Cycle : Evidence from Italian Municipalities »

Volume/Issue: 2017/6

Series: IMF Working Papers

Author(s): Lorenzo Forni , and Andrea Bonfatti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 January 2017

DOI: http://dx.doi.org/10.5089/9781475569971.001

ISBN: 9781475569971

Keywords: Time series, Fiscal rules, Italy, Europe, Government expenditures, Budgets, Regression analysis, local government finance, regression discontinuity, Cross-Sectional Models

The paper provides evidence that fiscal rules can limit the political budget cycle. It focuses on the application of the Italian fiscal rule at the sub-national level over the period 2004-2006 and shows that: 1) mu...

Profitability and Balance Sheet Repair of Italian Banks

Profitability and Balance Sheet Repair of Italian Banks »

Volume/Issue: 2016/175

Series: IMF Working Papers

Author(s): Andreas Jobst , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 August 2016

DOI: http://dx.doi.org/10.5089/9781475527513.001

ISBN: 9781475527513

Keywords: banks, nonperforming loans, bank profitability.

The profitability of Italian banks depends, among other factors, on the strength of the ongoing economic recovery, the stance of monetary policy, and the beneficial effects of current and past reforms, notably to a...

Profitability and Balance Sheet Repair of Italian Banks1

Profitability and Balance Sheet Repair of Italian Banks1 »

Source: Profitability and Balance Sheet Repair of Italian Banks

Volume/Issue: 2016/175

Series: IMF Working Papers

Author(s): Andreas Jobst , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 August 2016

ISBN: 9781475527513

Keywords: banks, nonperforming loans, bank profitability.

The profitability of Italian banks depends, among other factors, on the strength of the ongoing economic recovery, the stance of monetary policy, and the beneficial effects of current and past reforms, notably to a...

Italy
			: Technical Assistance Report-Enhancing Governance and Effectiveness of the Fiscal Agencies

Italy : Technical Assistance Report-Enhancing Governance and Effectiveness of the Fiscal Agencies »

Volume/Issue: 2016/241

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2016

DOI: http://dx.doi.org/10.5089/9781498374446.002

ISBN: 9781498374446

This Technical Assistance Report discusses measures to enhance the effectiveness of tax administration system in Italy. The Italian tax administration system comprises multiple entities, which demands tight coordin...

Italy

Italy »

Source: Italy : Technical Assistance Report-Enhancing Governance and Effectiveness of the Fiscal Agencies

Volume/Issue: 2016/241

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. Fiscal Affairs Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 July 2016

ISBN: 9781498374446

This Technical Assistance Report discusses measures to enhance the effectiveness of tax administration system in Italy. The Italian tax administration system comprises multiple entities, which demands tight coordin...

Cleaning-up Bank Balance Sheets

Cleaning-up Bank Balance Sheets »

Source: Cleaning-up Bank Balance Sheets : Economic, Legal, and Supervisory Measures for Italy

Volume/Issue: 2016/135

Series: IMF Working Papers

Author(s): José Garrido , Emanuel Kopp , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

ISBN: 9781498357036

Keywords: Nonperforming loans, corporate restructuring, asset management companies.

To stabilize and bring down nonperforming loans (NPLs) in the Italian banking system, the Italian authorities have been implementing a number of reforms, aimed among others at speeding up insolvency and enforcement...

IMF Executive Board Concludes 2016 Article IV Consultation with Italy

IMF Executive Board Concludes 2016 Article IV Consultation with Italy »

Source: Italy : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Volume/Issue: 2016/222

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

ISBN: 9781498354936

This 2016 Article IV Consultation highlights that the Italian economy is recovering gradually from a deep and protracted recession. Buoyed by exceptionally accommodative monetary policy, favorable commodity prices,...

Italy
			: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy

Italy : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Italy »

Volume/Issue: 2016/222

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

DOI: http://dx.doi.org/10.5089/9781498354936.002

ISBN: 9781498354936

This 2016 Article IV Consultation highlights that the Italian economy is recovering gradually from a deep and protracted recession. Buoyed by exceptionally accommodative monetary policy, favorable commodity prices,...

Italy
			: Selected Issues

Italy : Selected Issues »

Volume/Issue: 2016/223

Series: IMF Staff Country Reports

Author(s): International Monetary Fund. European Dept.

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 2016

DOI: http://dx.doi.org/10.5089/9781498355575.002

ISBN: 9781498355575

This Selected Issues paper analyzes the conditions under which Italian banks can earn sufficient profits to grow out of their asset quality problems, rebuild capital buffers, and finance the real economy. A bottom-...