In this paper we present a structural VAR analysis of monetary policy in Italy. A monetary policy operating regime based on the control of the overnight rate seems to fit the data better than alternative quantitative monetary regimes. The model allows us to derive an overall indicator of the...

In this paper, we discuss pros and cons of different models for financial market regulation and we present a proposal for the re-organisation of regulatory and supervisory agencies in the Euro Area, which is based on the assignment of different objectives or quot;finalitiesquot; to different...

This paper adds some new arguments to the thesis that the responsibility for banking supervision should be assigned to an agency formally separated by the Central bank. We also provide some additional evidence on the macro and microeconomic performance of OECD countries whose banking systems are...

This paper adds some new arguments to the thesis that the responsibility for banking supervision should be assigned to an agency formally separated by the Central bank. We also provide some additional evidence on the macro and microeconomic performance of OECD countries whose banking systems are...

In this paper, we discuss pros and cons of different models for financial market regulation and supervision and we present a proposal for the re-organisation of regulatory and supervisory agencies in the Euro Area. Our arguments are consistent with both new theories and effective behaviour of...

In this paper, we present a thorough proposal for the re-organization of regulatory arrangements and supervisory agencies on financial markets and intermediaries in Italy. After a review of the objectives and theoretical models for regulating and supervising the financial system, we focus on...

In this paper, we present different specifications of a structural vector autoregressive model (SVAR) that can be used to identify monetary policy operating regimes and monetary policy shocks in a small open economy. SVAR has the advantage of imposing a minimal set of theoretical restrictions on...

In this paper we present a structural VAR analysis of monetary policy in Italy. A monetary policy operating regime based on the control of the overnight rate on interbank loans seems to fit the data better than alternative quantitative monetary regimes. In the anlysis we include the real...