The COVID-19 pandemic has reshaped the demand for goods and services worldwide. The combination of a public health emergency, economic distress, and misinformation-driven panic have pushed customers and vendors towards the shadow economy. In particular, dark web marketplaces (DWMs), commercial...

The financial crisis of the beginning of the millennium and the recent crisis have led many pension funds to adopt different management approach to overcome the arising difficulties to maintain a solid financial status. Among these, the adoption of an indexation policy which is now conditional...

Securitization by collateralized loan obligations (CLOs) is a key source of capital for the corporate loan market. We investigate whether access to CLO market has implications for lenders' ability to overcome an idiosyncratic shock. We find that WorldCom's lenders with a direct access to the CLO...

Early analyses revealed that dark web marketplaces (DWMs) started offering COVID-19 related products (e.g., masks and COVID-19 tests) as soon as the current pandemic started, when these goods were in shortage in the traditional economy. Here, we broaden the scope and depth of previous...

The paper investigates the performance of pension funds with reference to recent innovation in Italian regulation. The aim is to evaluate the choice of Italian workers about TFR out-flows in term of risk-return trade off. These out-flows can be regarded as a sort of risk free asset. The reform...