The aim of this paper is to study the effects of credit constraints on the equilibrium aggregate capital stock. Credit constraints are the consequence of asymmetric information and moral hazard on the credit markets. When the equilibrium interest rate is low, entrepreneurs may have the...

This paper uses a dynamic general equilibrium setup with overlapping generations to provide a better understanding of the causes and consequences of credit constraints resulting from asymmetric information and moral hazard. These constraints imply that the entrepreneur's access to credit is...

In this paper, we develop two topics of the current literature on credit markets under asymmetric information. First, we present an explanation based on credit constraints for the high observed correlation between national investment and national savings. In this respect, we can explain some of...

The purpose of this paper is to study the short-run and the long-run effects of credit constraints on investment in a small open economy, in a context of credit markets under asymmetric information. We develop a two-period model where, because of moral hazard, firms’ internal finance matters...

Using a unique dataset on Italian banks, we firstly investigate the main determinants of women’s participation on top-decisional memberships and, secondly, we study correlations between women’s presence on boards and bank performance. Our main findings suggest that: 1) women are...

Following the constitutional reform of 2001, which gave increased autonomy Italian regions, and the new European guidelines from the Lisbon Agenda, there has been an upturn in regional legislative activity concerning innovation, leading to a critical review of the instruments adopted, mainly...

A gender gap indicator is constructed for the Italian regions, with the aim of highlighting the geographical differences underlying Italy�s backwardness at European and international level. The indicator, which adapts the Gender Equality Index developed by Plantenga et al. (2009) for 25...

This paper uses ECB survey data to assess whether gender matters in the small firms� financial structure and access to credit. Firms owned or managed by women (female firms) use smaller amounts and less heterogeneous sources of external finance than their male counterparts. According to...

The constitutional reforms of 2001 and 2003 empowered the Italian regions to enact legislation aimed at removing barriers to effective gender equality. The laws they have adopted in this field are often fragmented � only in a few cases do they form a consistent, comprehensive framework...

Italy ranks among EU countries with the fewest women on bank boards. Using a rich dataset on Italian banks that combines individual data on bank governance with different measures of performance and risk, this paper analyses the determinants of the gender gap in top positions. Econometric...