The Resource Essays on the economics of firms and of financial institutions, Matteo Gatti
Essays on the economics of firms and of financial institutions, Matteo Gatti
Resource Information
The item Essays on the economics of firms and of financial institutions, Matteo Gatti represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.This item is available to borrow from 1 library branch.
Resource Information
The item Essays on the economics of firms and of financial institutions, Matteo Gatti represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.
This item is available to borrow from 1 library branch.
- Summary
- Understanding the propagation of shocks throughout the economy is crucial for the design of policies and for their evaluation. Shock propagation hinges on a number of factors, among which market structure and the level of competition play a relevant role. In this dissertation I investigate the role of competition on firms’ pricing behavior and on banks’ funding stability when hit by a shock. Moreover, I also assess the implications of greater capital requirements on banks’ liquidity provision. The first chapter assesses how firms set their markups following a positive demand shock. I use the 2012 Emilia-Romagna earthquake as a natural experiment and I exploit within-firm variation of construction firms to identify the causal effect of interest. I find that markups decreased on average by 4 percentage points following the demand shock and that this drop is driven by higher competition due to firm-entry in the face of increasing marginal costs of labor. The second chapter, joint with Tommaso Oliviero, studies the effect of an increase in deposit insurance limit to €100,000 per bank account, set by the EU in early 2009, on the market for deposits. To evaluate the impact of the new directive we use Italian banks as a control group as they were not affected by the change. We find that the increase of deposit insurance limit led to a decrease in the cost financing through deposits between 0.3 and 0.7 percentage points as it reduces depositors’ required risk-premium. The third chapter studies the effect of a change in capital requirements on the market of collateralized debt obligations (CDOs). In a framework where securitization lowers banks’ monitoring effort over loans’ quality, I provide evidence of optimal risk-adjusted capital requirements that trade off the benefits of higher liquidity with the costs of lower monitoring incentives
- Language
- eng
- Extent
- x, 127 pages
- Note
- Examining board: Professor Evi Pappa, Universidad Carlos III Madrid, Supervisor; Professor Juan Dolado, Universidad Carlos III Madrid; Professor Steven Ongena, University of Zurich; Professor Saverio Simonelli, University of Naples Federico II
- Label
- Essays on the economics of firms and of financial institutions
- Title
- Essays on the economics of firms and of financial institutions
- Statement of responsibility
- Matteo Gatti
- Language
- eng
- Summary
- Understanding the propagation of shocks throughout the economy is crucial for the design of policies and for their evaluation. Shock propagation hinges on a number of factors, among which market structure and the level of competition play a relevant role. In this dissertation I investigate the role of competition on firms’ pricing behavior and on banks’ funding stability when hit by a shock. Moreover, I also assess the implications of greater capital requirements on banks’ liquidity provision. The first chapter assesses how firms set their markups following a positive demand shock. I use the 2012 Emilia-Romagna earthquake as a natural experiment and I exploit within-firm variation of construction firms to identify the causal effect of interest. I find that markups decreased on average by 4 percentage points following the demand shock and that this drop is driven by higher competition due to firm-entry in the face of increasing marginal costs of labor. The second chapter, joint with Tommaso Oliviero, studies the effect of an increase in deposit insurance limit to €100,000 per bank account, set by the EU in early 2009, on the market for deposits. To evaluate the impact of the new directive we use Italian banks as a control group as they were not affected by the change. We find that the increase of deposit insurance limit led to a decrease in the cost financing through deposits between 0.3 and 0.7 percentage points as it reduces depositors’ required risk-premium. The third chapter studies the effect of a change in capital requirements on the market of collateralized debt obligations (CDOs). In a framework where securitization lowers banks’ monitoring effort over loans’ quality, I provide evidence of optimal risk-adjusted capital requirements that trade off the benefits of higher liquidity with the costs of lower monitoring incentives
- Cataloging source
- FIE
- http://library.link/vocab/creatorName
- Gatti, Matteo
- Date time place
- Defence date: 7 June 2019
- Dewey number
- 658.1
- Dissertation note
- Thesis (Ph. D.)--European University Institute (ECO), 2019.
- Illustrations
- illustrations
- Index
- no index present
- Literary form
- non fiction
- Nature of contents
- theses
- http://library.link/vocab/relatedWorkOrContributorName
- European University Institute
- Series statement
-
- EUI PhD theses.
- EUI theses
- http://library.link/vocab/subjectName
-
- Finance
- Financial risk
- Business enterprises
- Deposit insurance
- Label
- Essays on the economics of firms and of financial institutions, Matteo Gatti
- Note
- Examining board: Professor Evi Pappa, Universidad Carlos III Madrid, Supervisor; Professor Juan Dolado, Universidad Carlos III Madrid; Professor Steven Ongena, University of Zurich; Professor Saverio Simonelli, University of Naples Federico II
- Bibliography note
- Includes bibliographical references (pages 122-127)
- Carrier category
- volume
- Carrier category code
-
- nc
- Carrier MARC source
- rdacarrier
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Dimensions
- 30 cm.
- Extent
- x, 127 pages
- Media category
- unmediated
- Media MARC source
- rdamedia
- Media type code
-
- n
- Other physical details
- illustrations
- System control number
- (OCoLC)1109837201
- Label
- Essays on the economics of firms and of financial institutions, Matteo Gatti
- Note
- Examining board: Professor Evi Pappa, Universidad Carlos III Madrid, Supervisor; Professor Juan Dolado, Universidad Carlos III Madrid; Professor Steven Ongena, University of Zurich; Professor Saverio Simonelli, University of Naples Federico II
- Bibliography note
- Includes bibliographical references (pages 122-127)
- Carrier category
- volume
- Carrier category code
-
- nc
- Carrier MARC source
- rdacarrier
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Dimensions
- 30 cm.
- Extent
- x, 127 pages
- Media category
- unmediated
- Media MARC source
- rdamedia
- Media type code
-
- n
- Other physical details
- illustrations
- System control number
- (OCoLC)1109837201
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.eui.eu/portal/Essays-on-the-economics-of-firms-and-of-financial/4uxAPdm31mQ/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.eui.eu/portal/Essays-on-the-economics-of-firms-and-of-financial/4uxAPdm31mQ/">Essays on the economics of firms and of financial institutions, Matteo Gatti</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.eui.eu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.eui.eu/">European University Institute</a></span></span></span></span></div>
