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Banking regulations have often been viewed as possible sources of procyclicality. We aim to provide a critical assessment of the risk-weighted asset estimates through the relationship between asset correlation and the probability of default as stated by international regulators. Our findings show that the relationship between asset correlation and size is not linear and also changes with the economic cycle. A risk-weighted asset computed according to regulatory assumptions would not generate the required capital relief during the downturn phase, when banks should release credit resources to support firms’ resilience. Therefore, we propose to transform the regulatory approach to empower the procyclical issues that still remain in upturns and slowdowns in economic cycles.
Pietro Vozzella; Giampaolo Gabbi. Banking regulation, procyclicality, and asset correlations in the real economic environment. The European Journal of Finance 2020, 1 -16.
AMA StylePietro Vozzella, Giampaolo Gabbi. Banking regulation, procyclicality, and asset correlations in the real economic environment. The European Journal of Finance. 2020; ():1-16.
Chicago/Turabian StylePietro Vozzella; Giampaolo Gabbi. 2020. "Banking regulation, procyclicality, and asset correlations in the real economic environment." The European Journal of Finance , no. : 1-16.
The research aims to verify whether the credit risk of small and medium-sized enterprises can be estimated more accurately using qualitative variables together with financial information from reports. In our paper, we select qualitative variables within the conceptual framework of the balanced scorecard to assess the credit quality of Italian companies of various sizes, from micro to medium. Data were collected to estimate the company’s resilience following the shock of the financial crisis of 2007–2008. The analysis based on customer size, processes, knowledge, and corporate finance, synthesized with balanced scorecard methodology, allows us to estimate the resilience of companies in a period of crisis. The research highlights the important contribution of qualitative variables for the estimation of credit risk. The implications concern both financial intermediaries and their supervisory functions, and regulators for rating models based on soft forward and countercyclical variables.
Giampaolo Gabbi; Michele Giammarino; Massimo Matthias. Die Hard: Probability of Default and Soft Information. Risks 2020, 8, 46 .
AMA StyleGiampaolo Gabbi, Michele Giammarino, Massimo Matthias. Die Hard: Probability of Default and Soft Information. Risks. 2020; 8 (2):46.
Chicago/Turabian StyleGiampaolo Gabbi; Michele Giammarino; Massimo Matthias. 2020. "Die Hard: Probability of Default and Soft Information." Risks 8, no. 2: 46.
Purpose This analysis asks whether regulatory capital requirements capture differences in systematic risk for large firms and micro-, small- and medium-sized enterprises (MSMEs). The authors explore whether bank capital regulations intended to support SMEs’ access to borrowing are effective. The purpose of this paper is to find out whether the regulatory design (particularly the estimate of asset correlations) positively affects the lending process to small and medium enterprises, compared to large corporates. Design/methodology/approach The authors investigate the appropriateness of bank capital requirements considering default risk of loans to MSMEs and distortions in capital charges between MSMEs and large firms under the Basel III framework. The authors compiled firm-level data to capture the proportions of MSMEs and large firms in Italy during 2000–2014. The data set is drawn from financial reports of 708,041 firms over 15 years. Unlike most empirical studies that correlate assets and defaults, this study assesses a firm’s creditworthiness not by agency ratings or by sampling banks but by a specific model to estimate one-year probabilities of default. Findings The authors found that asset correlations increase with firms’ size and that large firms face considerably greater systematic risk than MSMEs. However, the empirical values are much lower than regulatory values. Moreover, when the authors focused on the MSME segment, systematic risk is rather stable and varies significantly with turnover. This analysis showed that the regulatory supporting factor represents a valuable attempt to treat MSME loans more fairly with respect to banks’ capital requirements. Basel III-internal ratings-based approach results show that when the supporting factor is applied, the Risk-Weighted-Assets (RWA) differences between MSMEs and large firms increase. Research limitations/implications The implications of this research is that banking regulators to make MSMEs support more effective should review asset correlation estimation criteria, refining the fitting with empirical evidence. Practical implications The asset correlation parameter stipulated by the Basel framework is invariant with economic cycles, decreases with borrowers’ probability of default and increases with borrowers’ assets. The authors found that those relations do not hold. This way, asset correlations fall below parameters defined by regulatory formula, and SMEs’ credit risk could be overstated, resulting in a capital crunch. Originality/value The original contribution of this paper is to demonstrate that the gap between empirical and regulatory capital charge remains high. When the authors examined the Basel III-IRBA, results showed that when the supporting factor is applied, the RWA differences between MSMEs and large firms increase. This is particularly strong for loans to small- and medium-sized companies. Correctly calibrating asset correlations associated with the supporting factor eliminates regulatory distortions, reducing the gap in capital charges between loans to large corporate and MSMEs.
Pietro Vozzella; Giampaolo Gabbi. What is good and bad with the regulation supporting the SME’s credit access. Journal of Financial Regulation and Compliance 2020, 28, 569 -586.
AMA StylePietro Vozzella, Giampaolo Gabbi. What is good and bad with the regulation supporting the SME’s credit access. Journal of Financial Regulation and Compliance. 2020; 28 (4):569-586.
Chicago/Turabian StylePietro Vozzella; Giampaolo Gabbi. 2020. "What is good and bad with the regulation supporting the SME’s credit access." Journal of Financial Regulation and Compliance 28, no. 4: 569-586.
This paper focuses on the economic impact of the lender–borrower relationship on loan interest rates and tests whether repeated bank-firm contact significantly reduces these rates. We find strong evidence of the ‘relationship intensity’ hypothesis, and we detect a contribution of physical contact between banks and firms to loan pricing, controlling for the location where contact occurs. Finally, we report new evidence on the hold-up problem; in particular, we find that under certain circumstances, a closer relationship may alleviate extra borrowing costs.
Giampaolo Gabbi; Michele Giammarino; Massimo Matthias; Stefano Monferrà; Gabriele Sampagnaro. Does face-to-face contact matter? Evidence on loan pricing. The European Journal of Finance 2019, 26, 820 -836.
AMA StyleGiampaolo Gabbi, Michele Giammarino, Massimo Matthias, Stefano Monferrà, Gabriele Sampagnaro. Does face-to-face contact matter? Evidence on loan pricing. The European Journal of Finance. 2019; 26 (7-8):820-836.
Chicago/Turabian StyleGiampaolo Gabbi; Michele Giammarino; Massimo Matthias; Stefano Monferrà; Gabriele Sampagnaro. 2019. "Does face-to-face contact matter? Evidence on loan pricing." The European Journal of Finance 26, no. 7-8: 820-836.
The misestimation of rating transition probabilities may lead banks to lend money incoherently with borrowers’ default trajectory, causing both a deterioration in asset quality and higher system distress. Applying a Mover-Stayer model to determine the migration risk of small and medium enterprises, we find that banks are over-estimating their credit risk resulting in excessive regulatory capital. This has important macroeconomic implications due to the fact that holding a large capital buffer is costly for banks and this in turn influences their ability to lend in the wider economy. This conclusion is particularly true during economic downturns with the consequence of exacerbating the cyclicality in risk capital that therefore acts to aggravate economic conditions further. We also explain part of the misevaluation of borrowers and the actual relevant weight of non-performing loans within banking portfolios: some of the prudential requirements, at least as regards EMS credit portfolios, cannot be considered effective as envisaged by the regulators who developed the “new” regulation in response to the most recent crisis. The Mover-Stayers approach helps to reduce calculation inaccuracy when analyzing the historical movements of borrowers’ ratings and consequently, improves the efficacy of the resource allocation process and banking industry stability.
Camilla Ferretti; Giampaolo Gabbi; Piero Ganugi; Federica Sist; Pietro Vozzella. Credit Risk Migration and Economic Cycles. Risks 2019, 7, 109 .
AMA StyleCamilla Ferretti, Giampaolo Gabbi, Piero Ganugi, Federica Sist, Pietro Vozzella. Credit Risk Migration and Economic Cycles. Risks. 2019; 7 (4):109.
Chicago/Turabian StyleCamilla Ferretti; Giampaolo Gabbi; Piero Ganugi; Federica Sist; Pietro Vozzella. 2019. "Credit Risk Migration and Economic Cycles." Risks 7, no. 4: 109.
The literature dedicated to the problems of transboundary pollution often aims to verify what the environmental and energy interactions between countries are. Little attention is paid to the financial relations of the phenomenon. We analyze how financial, environmental and energy flows have been redistributed within the main Mediterranean countries, with particular reference to pollution. Applying advanced methods of correlation, we verify the dynamics of transfer processes with the aim of assessing whether the link between economic and financial and environmental flows might support the hypothesis that rich countries export environmental emissions to poor ones. Our results show that richer countries have a significant propensity to export energy, financial flows and polluting emissions. The imbalance is even greater for emissions with local impact. This process is accompanied by a substantial increase in the financial activities of the North Mediterranean countries to the detriment of those of the South, which progressively increase their indebtedness. We find out that the economic and financial development of the North Med is accompanied by an increasing environmental impact measured by the various types of emissions covered by our study. The research shows how the most industrialized countries of the Mediterranean area are increasing the economic and financial gap with respect to the Southern Mediterranean countries.
Pietro Vozzella; Franco Ruzzenenti; Giampaolo Gabbi. Energy and Environmental Flows: Do Most Financialised Countries within the Mediterranean Area Export Unsustainability? Sustainability 2019, 11, 3736 .
AMA StylePietro Vozzella, Franco Ruzzenenti, Giampaolo Gabbi. Energy and Environmental Flows: Do Most Financialised Countries within the Mediterranean Area Export Unsustainability? Sustainability. 2019; 11 (13):3736.
Chicago/Turabian StylePietro Vozzella; Franco Ruzzenenti; Giampaolo Gabbi. 2019. "Energy and Environmental Flows: Do Most Financialised Countries within the Mediterranean Area Export Unsustainability?" Sustainability 11, no. 13: 3736.
This paper asks how well the use of quantitative and qualitative variables can improve the assessment of companies' creditworthiness and how this result can be influenced by the economic and financial peculiarities of countries. We harden qualitative variable measures to model soft information aimed at scoring microfirms, small, and medium‐sized firms. The structural survey covers Germany, Italy, and the UK in a sample of about 17 thousand companies observed during the financial crisis. Soft facts are determined within the balanced scorecard framework in order to find out the impact of customers, business processes, learning and growth, and financial perspectives. Our findings show that credit models integrating soft variables optimize the risk estimation, but estimates are country‐specific and should be tailored to the characteristics of each economic system.
Massimo Matthias; Michele Giammarino; Giampaolo Gabbi. Modeling hard and soft facts for SMEs: Some international evidence. Journal of International Financial Management & Accounting 2019, 30, 203 -222.
AMA StyleMassimo Matthias, Michele Giammarino, Giampaolo Gabbi. Modeling hard and soft facts for SMEs: Some international evidence. Journal of International Financial Management & Accounting. 2019; 30 (3):203-222.
Chicago/Turabian StyleMassimo Matthias; Michele Giammarino; Giampaolo Gabbi. 2019. "Modeling hard and soft facts for SMEs: Some international evidence." Journal of International Financial Management & Accounting 30, no. 3: 203-222.
Giampaolo Gabbi; Richard Levich. Controlling risks to ensure financial stability and reducing volatility. Journal of International Financial Management & Accounting 2019, 30, 183 -187.
AMA StyleGiampaolo Gabbi, Richard Levich. Controlling risks to ensure financial stability and reducing volatility. Journal of International Financial Management & Accounting. 2019; 30 (3):183-187.
Chicago/Turabian StyleGiampaolo Gabbi; Richard Levich. 2019. "Controlling risks to ensure financial stability and reducing volatility." Journal of International Financial Management & Accounting 30, no. 3: 183-187.
We present a study of the European electronic interbank market of overnight lending (e-MID) before and after the beginning of the financial crisis. The main goal of the paper is to explain the structural changes of lending/borrowing features due to the liquidity turmoil. Unlike previous contributions that focused on banks’ dependent and macro information as explanatory variables, we address the role of banks’ behaviour and market microstructure as determinants of the credit spreads. We show that all banks experienced significant variations in their liquidity costs due to the sensitivity of interbank rates to the timing and side of trades. We argue that, while larger banks did experience better funding conditions after the crisis, this was not just a consequence of the “too big to fail” perception of the market. Larger banks have been able to play more strategically when managing their liquidity by taking advantage of the changing market microstructure.
Burcu Kapar; Giulia Iori; Giampaolo Gabbi; Guido Germano. Market microstructure, banks’ behaviour and interbank spreads: evidence after the crisis. Journal of Economic Interaction and Coordination 2019, 15, 283 -331.
AMA StyleBurcu Kapar, Giulia Iori, Giampaolo Gabbi, Guido Germano. Market microstructure, banks’ behaviour and interbank spreads: evidence after the crisis. Journal of Economic Interaction and Coordination. 2019; 15 (1):283-331.
Chicago/Turabian StyleBurcu Kapar; Giulia Iori; Giampaolo Gabbi; Guido Germano. 2019. "Market microstructure, banks’ behaviour and interbank spreads: evidence after the crisis." Journal of Economic Interaction and Coordination 15, no. 1: 283-331.
Although the role of irrationality in trading choices has been extensively discussed in the literature, individual incidental emotions have been neglected. We investigated emotional explanatory factors and trading choices in a sample of non-professional agents who managed a virtual financial positions pretending to be traders. Using a series of daily surveys over a five-week period as well as introductive inventory surveys, we constructed measures of core affect and emotions and correlated these with subjects’ financial choices. Our purpose is to test if the decision to buy or sell financial assets is affected by the emotional state of individuals, considering also gender clusters. A focus is on incidental emotions, detecting how positive emotions due to sexual activity may alter financial trading choices. Our findings suggest that agents incorrectly attribute their good mood to positive economic perspectives rather than positive emotions.
Giampaolo Gabbi; Giovanna Zanotti. Sex & the City. Are financial decisions driven by emotions? Journal of Behavioral and Experimental Finance 2018, 21, 50 -57.
AMA StyleGiampaolo Gabbi, Giovanna Zanotti. Sex & the City. Are financial decisions driven by emotions? Journal of Behavioral and Experimental Finance. 2018; 21 ():50-57.
Chicago/Turabian StyleGiampaolo Gabbi; Giovanna Zanotti. 2018. "Sex & the City. Are financial decisions driven by emotions?" Journal of Behavioral and Experimental Finance 21, no. : 50-57.
Could risk culture affect financial institutions’ reputation? The chapter aims to answer this question by applying an event study approach to a couple of Italian banks sanctioned for their distorted behaviour. We used these sanctions as a proxy of a poor risk culture within the organization and the decision making process. Abnormal returns we observe in two different time intervals exceed the value of the supervisory sanctions. The exceeding capitalization loss can be considered as a proxy of reputational loss due to lack of risk culture. Our evidence suggests that behaviour could have been better controlled and re-addressed within an environment characterized by a higher risk culture intensity.
Giampaolo Gabbi; Mattia Pianorsi; Maria Gaia Soana. The Impact of Risk Culture on Bank Reputation. Risk Culture in Banking 2017, 177 -194.
AMA StyleGiampaolo Gabbi, Mattia Pianorsi, Maria Gaia Soana. The Impact of Risk Culture on Bank Reputation. Risk Culture in Banking. 2017; ():177-194.
Chicago/Turabian StyleGiampaolo Gabbi; Mattia Pianorsi; Maria Gaia Soana. 2017. "The Impact of Risk Culture on Bank Reputation." Risk Culture in Banking , no. : 177-194.
Giampaolo Gabbi; Massimo Matthias; Pietro Vozzella. Financial regulation in Italy. Financial Regulation in the European Union 2015, 78 -108.
AMA StyleGiampaolo Gabbi, Massimo Matthias, Pietro Vozzella. Financial regulation in Italy. Financial Regulation in the European Union. 2015; ():78-108.
Chicago/Turabian StyleGiampaolo Gabbi; Massimo Matthias; Pietro Vozzella. 2015. "Financial regulation in Italy." Financial Regulation in the European Union , no. : 78-108.
We analysed a multiplex of financial and environmental networks between OECD countries from 2002 to 2010. Foreign direct investments and portfolio investment showing the flows in equity securities, short-term, long-term and total debt, these securities represent the financial layers; emissions of NOx, PM10, SO2, CO2equivalent and the water footprint associated with international trade represent the environmental layers. We present a new measure of cross-layer correlations between flows in different layers based on reciprocity. For the assessment of results, we implement a null model for this measure based on the exponential random graph theory. We find that short-term financial flows are more correlated with environmental flows than long-term investments. Moreover, the correlations between reverse financial and environmental flows (i.e. the flows of different layers going in opposite directions) are generally stronger than correlations between synergic flows (flows going in the same direction). This suggests a trade-off between financial and environmental layers, where, more financialised countries display higher correlations between outgoing financial flows and incoming environmental flows than from lower financialised countries. Five countries are identified as hubs in this finance-environment multiplex: The United States, France, Germany, Belgium-Luxembourg and United Kingdom.
Franco Ruzzenenti; Andreas Joseph; Elisa Ticci; Pietro Vozzella; Giampaolo Gabbi. Interactions between Financial and Environmental Networks in OECD Countries. PLOS ONE 2015, 10, e0136767 .
AMA StyleFranco Ruzzenenti, Andreas Joseph, Elisa Ticci, Pietro Vozzella, Giampaolo Gabbi. Interactions between Financial and Environmental Networks in OECD Countries. PLOS ONE. 2015; 10 (9):e0136767.
Chicago/Turabian StyleFranco Ruzzenenti; Andreas Joseph; Elisa Ticci; Pietro Vozzella; Giampaolo Gabbi. 2015. "Interactions between Financial and Environmental Networks in OECD Countries." PLOS ONE 10, no. 9: e0136767.
We analyze the possibility of reduction of systemic risk in financial markets through Pigouvian taxation of financial institutions, which is used to support the rescue fund. We introduce the concept of the cascade risk with a clear operational definition as a subclass and a network related measure of the systemic risk. Using financial networks constructed from real Italian money market data and using realistic parameters, we show that the cascade risk can be substantially reduced by a small rate of taxation and by means of a simple strategy of the money transfer from the rescue fund to interbanking market subjects. Furthermore, we show that while negative effects on the return on investment (ROI) are direct and certain, an overall positive effect on risk adjusted return on investments (ROI RA) is visible. Please note that the taxation is introduced as a monetary/regulatory, not as a _scal measure, as the term could suggest. The rescue fund is implemented in a form of a common reserve fund.
Vinko Zlatić; Giampaolo Gabbi; Hrvoje Abraham. Reduction of Systemic Risk by Means of Pigouvian Taxation. PLOS ONE 2015, 10, e0114928 .
AMA StyleVinko Zlatić, Giampaolo Gabbi, Hrvoje Abraham. Reduction of Systemic Risk by Means of Pigouvian Taxation. PLOS ONE. 2015; 10 (7):e0114928.
Chicago/Turabian StyleVinko Zlatić; Giampaolo Gabbi; Hrvoje Abraham. 2015. "Reduction of Systemic Risk by Means of Pigouvian Taxation." PLOS ONE 10, no. 7: e0114928.
Palgrave Macmillan is a global academic and business publisher, serving learning and scholarship in the academic and professional worlds. We publish journals, textbooks, monographs and professional and reference works in print and online. Our programme focuses on Business, the wider Social Sciences and the Humanities.
Giampaolo Gabbi; Andrea Sironi. Regulating Core and Non-Core Banking Activities. The Unanswered Question. The Restructuring of Banks and Financial Systems in the Euro Area and the Financing of SMEs 2015, 1 .
AMA StyleGiampaolo Gabbi, Andrea Sironi. Regulating Core and Non-Core Banking Activities. The Unanswered Question. The Restructuring of Banks and Financial Systems in the Euro Area and the Financing of SMEs. 2015; ():1.
Chicago/Turabian StyleGiampaolo Gabbi; Andrea Sironi. 2015. "Regulating Core and Non-Core Banking Activities. The Unanswered Question." The Restructuring of Banks and Financial Systems in the Euro Area and the Financing of SMEs , no. : 1.
Giampaolo Gabbi; Alesia Kalbaska; Alessandro Vercelli; Eckhard Hein; Daniel Detzer; Nina Dodig. The role of incentives for the Great Recession: securitization and contagion. The Demise of Finance-dominated Capitalism 2015, 308 -330.
AMA StyleGiampaolo Gabbi, Alesia Kalbaska, Alessandro Vercelli, Eckhard Hein, Daniel Detzer, Nina Dodig. The role of incentives for the Great Recession: securitization and contagion. The Demise of Finance-dominated Capitalism. 2015; ():308-330.
Chicago/Turabian StyleGiampaolo Gabbi; Alesia Kalbaska; Alessandro Vercelli; Eckhard Hein; Daniel Detzer; Nina Dodig. 2015. "The role of incentives for the Great Recession: securitization and contagion." The Demise of Finance-dominated Capitalism , no. : 308-330.
We analyse a multiplex of networks between OECD countries during the decade 2002-2010, which consists of five financial layers, given by foreign direct investment, equity securities, short-term, long-term and total debt securities, and five environmental layers, given by emissions of N O x, P M 10 SO 2, CO 2 equivalent and the water footprint associated with international trade. We present a new measure of cross-layer correlations between flows in different layers based on reciprocity. For the assessment of results, we implement a null model for this measure based on the exponential random graph theory. We find that short-term financial flows are more correlated with environmental flows than long-term investments. Moreover, the correlations between reverse financial and environmental flows (i.e. flows of different layers going in opposite directions) are generally stronger than correlations between synergic flows (flows going in the same direction). This suggests a trade-off between financial and environmental layers, where, more financialised countries display higher correlations between outgoing financial flows and incoming environmental flows from lower financialised countries, which could have important policy implications. Five countries are identified as hubs in this finance-environment multiplex: The United States, France, Germany, Belgium-Luxembourg and the United Kingdom.
Franco Ruzzenenti; Andreas Joseph; Elisa Ticci; Pietro Vozzella; Giampaolo Gabbi. Interactions between financial and environmental networks in OECD countries. 2015, 1 .
AMA StyleFranco Ruzzenenti, Andreas Joseph, Elisa Ticci, Pietro Vozzella, Giampaolo Gabbi. Interactions between financial and environmental networks in OECD countries. . 2015; ():1.
Chicago/Turabian StyleFranco Ruzzenenti; Andreas Joseph; Elisa Ticci; Pietro Vozzella; Giampaolo Gabbi. 2015. "Interactions between financial and environmental networks in OECD countries." , no. : 1.
Giampaolo Gabbi; Andrea Sironi. Regulating Core and Non-Core Banking Activities. The Unanswered Question◊. The Restructuring of Banks and Financial Systems in the Euro Area and the Financing of SMEs 2015, 11 -30.
AMA StyleGiampaolo Gabbi, Andrea Sironi. Regulating Core and Non-Core Banking Activities. The Unanswered Question◊. The Restructuring of Banks and Financial Systems in the Euro Area and the Financing of SMEs. 2015; ():11-30.
Chicago/Turabian StyleGiampaolo Gabbi; Andrea Sironi. 2015. "Regulating Core and Non-Core Banking Activities. The Unanswered Question◊." The Restructuring of Banks and Financial Systems in the Euro Area and the Financing of SMEs , no. : 11-30.
We present a new agent-based model focusing on the linkage between the interbank market and the real economy with a stylised central bank acting as lender of last resort. Using this model we address the tradeoff between stability and economic performance for different structures of the interbank market. We also explore the efficacy of recent regulatory reforms using our richer model. Our results suggest that the effects of regulatory leverage ratios on the banking sector׳s performance can vary in a complex and non-monotonic way with the state of the economy, the degree of connectivity of the interbank market and the amount of information available to market participants on bank risks.
Giampaolo Gabbi; Giulia Iori; Saqib Jafarey; James Porter. Financial regulations and bank credit to the real economy. Journal of Economic Dynamics and Control 2014, 50, 117 -143.
AMA StyleGiampaolo Gabbi, Giulia Iori, Saqib Jafarey, James Porter. Financial regulations and bank credit to the real economy. Journal of Economic Dynamics and Control. 2014; 50 ():117-143.
Chicago/Turabian StyleGiampaolo Gabbi; Giulia Iori; Saqib Jafarey; James Porter. 2014. "Financial regulations and bank credit to the real economy." Journal of Economic Dynamics and Control 50, no. : 117-143.
This Forum aims to systematically describe and analyse the evolution of national financial systems within the EU over the past three decades. It analyses the processes of financialisation that have dominated this period as well as the causes and consequences of the financial crisis from the perspectives of five individual member states — Germany, France, the UK, Italy and Spain. Furthermore, policy proposals which could change the role of the financial system to better serve economic and social objectives are also put forward.
Daniel Detzer; Jerome Creel; Fabien Labondance; Sandrine Levasseur; Mimoza Shabani; Jan Toporowski; Judith Tyson; Costanza Consolandi; Giampaolo Gabbi; Massimo Matthias; Pietro Vozzella; Carlos A. Carrasco; Patricia Peinado; Carlos A. Rodriguez Gonzalez. Financial systems in financial crisis — An analysis of banking systems in the EU. Intereconomics 2014, 49, 56 -87.
AMA StyleDaniel Detzer, Jerome Creel, Fabien Labondance, Sandrine Levasseur, Mimoza Shabani, Jan Toporowski, Judith Tyson, Costanza Consolandi, Giampaolo Gabbi, Massimo Matthias, Pietro Vozzella, Carlos A. Carrasco, Patricia Peinado, Carlos A. Rodriguez Gonzalez. Financial systems in financial crisis — An analysis of banking systems in the EU. Intereconomics. 2014; 49 (2):56-87.
Chicago/Turabian StyleDaniel Detzer; Jerome Creel; Fabien Labondance; Sandrine Levasseur; Mimoza Shabani; Jan Toporowski; Judith Tyson; Costanza Consolandi; Giampaolo Gabbi; Massimo Matthias; Pietro Vozzella; Carlos A. Carrasco; Patricia Peinado; Carlos A. Rodriguez Gonzalez. 2014. "Financial systems in financial crisis — An analysis of banking systems in the EU." Intereconomics 49, no. 2: 56-87.