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

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
Creator
Contributor
Subject
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
Link
http://hdl.handle.net/1814/63364
Instantiates
Publication
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
Link
http://hdl.handle.net/1814/63364
Publication
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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