Il titolo dell'opera, Vinessa, implica un viatico romantico, simbolico ed evocativo: il nome di un vento che trasporti questi componimenti in fuga, verso altri territori, altre culture, lettori, autori. All'interno di Vinessa (vento periodico del Lago di Garda che per la sua particolare conformazione dà vita a numerosi venti periodici o addirittura giornalieri, il Vinessa soffia umido e fresco da sud-est) si susseguono, in ordine alfabetico: Rita Clemente con Il piacere di un istante; Daniele Gobbetti con Eva; Antonella Iannilli con Parolabili poesie...; Valentina Pierluigi con Affacciati sull'anima; Carlo Presti con Per te, per me; Anna Rosati con Le distanze." (tratto dalla prefazione di Giuseppe Aletti)
Credit is key to support healthy and sustainable economic growth but excess aggregate credit growth can signal the build-up of imbalances and lead to systemic financial crisis. Hence, monitoring the credit cycle is key to identifying vulnerabilities, particularly in emerging markets, which tend to be more exposed to sudden external shocks and reversal in capital flows. We estimate the credit cycle in Central America, Panama, and the Dominican Republic and find that the creadit gap is a powerful predictor of systemic vulnerability in the region. We simulate the activation of the Basel III countercyclical capital buffers and discuss the macroprudential policy implications of the results, arguing that countercyclical macroprudential policies based on the credit gap could prove useful to enhance the resilience of the region’s financial sector but the activation of macroprudential instruments should also be informed by the development of other macrofinancial variables and by expert judgment.
Credit is key to support healthy and sustainable economic growth but excess aggregate credit growth can signal the build-up of imbalances and lead to systemic financial crisis. Hence, monitoring the credit cycle is key to identifying vulnerabilities, particularly in emerging markets, which tend to be more exposed to sudden external shocks and reversal in capital flows. We estimate the credit cycle in Central America, Panama, and the Dominican Republic and find that the creadit gap is a powerful predictor of systemic vulnerability in the region. We simulate the activation of the Basel III countercyclical capital buffers and discuss the macroprudential policy implications of the results, arguing that countercyclical macroprudential policies based on the credit gap could prove useful to enhance the resilience of the region’s financial sector but the activation of macroprudential instruments should also be informed by the development of other macrofinancial variables and by expert judgment.
Through a historical analysis of the link between Italian American migration in the 20th century and the investigation of the minutes of the Board of Directors and the financial statements of the American Chamber of Commerce in Italy, this book provides a privileged observation point for the study of the economic relations between Italy and the United States throughout the twentieth century. Showing that the Chamber played a fundamental role in highlighting the changes of Italian economy and society, and in strengthening the cooperation between the two countries, it retraces a long-lasting tradition of trade and business, and depicts a solid and enduring relationship between Italy and the United States.
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