The paper proposes a method to speed up the transition toward the notional contributions pension system in Italy. It seems the most appropriate manner to combine and pursue employment and financial sustainability goals. The method computes percentages for abating the old retributive pensions...

The demographic database of Eurostat and of Us Census of Bureau are explored and the main facts are extracted and described. This paper is completely self-standing but is also part of a more general analysis dedicated to the functioning and sustainability of pay-as-you-go to finance the welfare...

This research report explores the issue of wealth in Italy, investigating the ‘very rich’ with top incomes and very large assets. Part one provides an overview of the dimensions of wealth, starting from definitions, sources and methods. An international perspective and a focus on the country...

Il premio di prezzo è solo una componente, non marginale, sicuramente la più caratteristica e facilmente comunicabile, ma certamente non decisiva nel modello Fair Trade. L’avere incentrato l’attenzione su questo specifico aspetto del meccanismo complessivo ha nascosto altri aspetti più...

The hedge funds industry was partly blamed for the global financial crisis that started in 2007, especially in Europe. If one analyses the performance of hedge funds during this period, it becomes clear that the hedge fund industry did not necessarily fare well. Some funds gained, but many...

The Economic Value Added formally translates the theoretical notion of excess profit (also known as residual income). Its use is so firmly entrenched in applied corporate finance and management accounting that its name is often used as a noun for denoting the concept of excess profit itself....

This article takes its cue from the relevance of the framing effect in the field related to behavioural biases associated with economic decision-making. Most of the attempts made to measure financial literacy relies on surveys that include standardized questions about the knowledge of three or...

In capital budgeting, the internal rate of return (IRR) criterion and the net present value (NPV) criterion are considered incompatible in several cases. A longstanding debate developed in past years about the reliability of either method is still an issue of investigation (see, for example,...

MiFID regulation aims at protecting investors and promoting competition across securities markets in the European Union. The measurement of trade execution quality is crucial to achieve such goals. Traders will direct order flow towards more efficient venues only if compare trade execution...

Italian Abstract: Il lavoro analizza la dinamica e le caratteristiche delle obbligazioni bancarie detenute dalle famiglie italiane e presenta una stima del rendimento lordo a scadenza delle obbligazioni bancarie sottoscritte all'emissione. Dal 1950 la quota di tali attività nel portafoglio...