Marco Pagano

University of Naples Federico II - Department of Economics and Statistics

Professor of Economics

Via Cintia - Monte S. Angelo

Napoli, 80126

Italy

Centre for Studies in Economics and Finance (CSEF)

Director

Via Cintia

Complesso Monte S. Angelo

Naples, Naples 80126

Italy

Einaudi Institute for Economics and Finance (EIEF)

President

Via Sallustiana, 62

Rome, 00187

Italy

Centre for Economic Policy Research (CEPR)

Fellow

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

European Corporate Governance Institute (ECGI)

Fellow

c/o ECARES ULB CP 114

B-1050 Brussels

Belgium

http:/www.ecgi.org

View CV
SCHOLARLY PAPERS

64

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23,992

CITATIONS
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Top 152

in Total Papers Citations

2,068

Scholarly Papers (64)

1.
Downloads 2,529 ( 3,480)
Citation 61

Managers, Workers, and Corporate Control

EFA 2002 Berlin Meetings Presented Paper; ECGI - Finance Working Paper No. 01/2002
Number of pages: 40 Posted: 11 Apr 2003
Paolo F. Volpin and Marco Pagano
City University London - Faculty of Finance and University of Naples Federico II - Department of Economics and Statistics
Downloads 2,505 (3,456)
Citation 61

Abstract:

private benefits, employment protection, takeovers, ESOPs

Managers, Workers and Corporate Control

CEPR Discussion Paper No. 3649
Number of pages: 38 Posted: 07 Jan 2003
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 24 (417,963)
Citation 61

Abstract:

Corporate control, private benefits, takeovers, ESOPs, employment protection

2.
Downloads 1,877 ( 5,801)
Citation 3

Corporate Fraud, Governance and Auditing

EFA 2009 Bergen Meetings Paper
Number of pages: 40 Posted: 05 Feb 2009 Last Revised: 02 Mar 2009
Giovanni Immordino and Marco Pagano
University of Salerno - Centre for Studies in Economics and Finance (CSEF) and University of Naples Federico II - Department of Economics and Statistics
Downloads 1,870 (5,707)
Citation 3

Abstract:

accounting fraud, auditing, managerial compensation, corporate governance, regulation

Corporate Fraud, Governance and Auditing

CEPR Discussion Paper No. DP7104
Number of pages: 43 Posted: 18 Feb 2009
Giovanni Immordino and Marco Pagano
University of Salerno - Centre for Studies in Economics and Finance (CSEF) and University of Naples Federico II - Department of Economics and Statistics
Downloads 7 (513,463)
Citation 3

Abstract:

accounting fraud, auditing, corporate governance, managerial compensation, regulation

Short-Selling Bans Around the World: Evidence from the 2007-09 Crisis

Journal of Finance, Forthcoming
Number of pages: 64 Posted: 10 Nov 2009 Last Revised: 22 Aug 2011
Alessandro Beber and Marco Pagano
Cass Business School and University of Naples Federico II - Department of Economics and Statistics
Downloads 1,852 (5,801)
Citation 42

Abstract:

Short-Selling Bans Around the World: Evidence from the 2007-09 Crisis

CEPR Discussion Paper No. DP7557
Number of pages: 41 Posted: 11 Jan 2010
Alessandro Beber and Marco Pagano
Cass Business School and University of Naples Federico II - Department of Economics and Statistics
Downloads 10 (497,178)
Citation 42

Abstract:

ban, crisis, liquidity, price discovery, short selling

4.
Downloads 1,763 ( 6,484)
Citation 181

The Political Economy of Corporate Governance

AFA 2002 Atlanta Meetings; Univ. of Salerno Working Paper No. 29
Number of pages: 35 Posted: 15 Mar 2000
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 1,763 (6,335)
Citation 181

Abstract:

The Political Economy of Corporate Governance

American Economic Review, Vol. 95, No. 4, September 2005
Posted: 29 Mar 2006
Paolo F. Volpin and Marco Pagano
City University London - Faculty of Finance and University of Naples Federico II - Department of Economics and Statistics

Abstract:

5.

Legal Determinants of the Return on Equity

Stanford Law and Economics Olin Working Paper No. 193; and University of Salerno Working Paper No. 24
Number of pages: 51 Posted: 29 Feb 2000
Davide Lombardo and Marco Pagano
European University Institute and University of Naples Federico II - Department of Economics and Statistics
Downloads 1,548 (7,091)
Citation 50

Abstract:

Law, enforcement, shareholder protection, corporate governance, return on equity

6.

The Geography of Equity Listing: Why Do European Companies List Abroad?

EFA 0171
Number of pages: 59 Posted: 24 Mar 2000
Marco Pagano, Ailsa Röell and Josef Zechner
University of Naples Federico II - Department of Economics and Statistics, Columbia University, School of International and Public Affairs and Vienna University of Economics and Business
Downloads 1,280 (10,544)
Citation 218

Abstract:

7.

Law and Equity Markets: A Simple Model

Stanford Law and Economics Olin Working Paper No. 194; and University of Salerno Working Paper No. 25
Number of pages: 28 Posted: 29 Feb 2000
Davide Lombardo and Marco Pagano
European University Institute and University of Naples Federico II - Department of Economics and Statistics
Downloads 983 (15,128)
Citation 49

Abstract:

Shareholder Protection, Stock Market Development, and Politics

ECGI - Finance Working Paper No. 105/2005
Number of pages: 40 Posted: 23 Nov 2005
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 796 (22,396)
Citation 24

Abstract:

political economy, shareholder protection, corporate governance, stock market development

Shareholder Protection, Stock Market Development and Politics

CEPR Discussion Paper No. 5378
Number of pages: 38 Posted: 21 Feb 2006
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 23 (423,434)
Citation 24

Abstract:

Political economy, shareholder protection, corporate governance, stock market development

9.
Downloads 629 ( 31,688)
Citation 20

Securitization, Transparency and Liquidity

EFA 2009 Bergen Meetings Paper, AFA 2010 Atlanta Meetings Paper
Number of pages: 56 Posted: 05 Feb 2009 Last Revised: 30 Dec 2010
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 621 (31,773)
Citation 20

Abstract:

securitization, rating, liquidity, subprime lending crisis, default

Securitization, Transparency and Liquidity

CEPR Discussion Paper No. DP7105
Number of pages: 43 Posted: 18 Feb 2009
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 8 (508,145)
Citation 20

Abstract:

default, liquidity, rating, securitization, subprime lending crisis, transparency

10.
Downloads 624 ( 32,054)
Citation 16

Inheritance Law and Investment in Family Firms

3rd Annual Conference on Empirical Legal Studies Papers, ECGI - Finance Working Paper No. 222/2008
Number of pages: 64 Posted: 16 Apr 2008 Last Revised: 12 May 2014
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 451 (48,213)
Citation 16

Abstract:

succession, family firms, inheritance law, growth, investment

Inheritance Law and Investment in Family Firms

FEEM Working Paper No. 6.2009, EFA 2009 Bergen Meetings Paper
Number of pages: 64 Posted: 31 Jan 2009 Last Revised: 12 May 2014
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 171 (138,843)
Citation 16

Abstract:

Succession, Family Firms, Inheritance Law, Growth, Investment

Inheritance Law and Investment in Family Firms

CEPR Discussion Paper No. DP6977
Number of pages: 62 Posted: 02 Dec 2008
Andrew Ellul, Marco Pagano and Fausto Panunzi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 2 (540,403)
Citation 16

Abstract:

Family firms, Inheritance law, Investor protection

11.
Downloads 607 ( 33,264)
Citation 12

The Changing Microstructure of European Equity Markets

Center for Studies in Economics and Finance (CSEF) No. 1998.04
Number of pages: 37 Posted: 25 Nov 1998
Marco Pagano
University of Naples Federico II - Department of Economics and Statistics
Downloads 607 (32,769)
Citation 12

Abstract:

The Changing Microstructure of European Equity Markets

The European Securities Markets: The Investment Services Directive and Beyond, edited by Guido Ferrarini, Kluwer Law International 1998
Posted: 21 Dec 1998
Marco Pagano
University of Naples Federico II - Department of Economics and Statistics

Abstract:

12.
Downloads 567 ( 36,374)
Citation 49

The European Bond Markets under EMU

Oxford Review of Economic Policy, Vol. 20, No. 4, pp. 531-554, November 2004
Number of pages: 31 Posted: 07 Dec 2004
Marco Pagano and Ernst-Ludwig von Thadden
University of Naples Federico II - Department of Economics and Statistics and Universitaet Mannheim
Downloads 517 (40,509)
Citation 49

Abstract:

Euro, EMU, bond market, financial integration, bond yield differential

The European Bond Markets Under EMU

CEPR Discussion Paper No. 4779
Number of pages: 34 Posted: 08 Mar 2005
Marco Pagano and Ernst-Ludwig von Thadden
University of Naples Federico II - Department of Economics and Statistics and Universitaet Mannheim
Downloads 50 (317,854)
Citation 49

Abstract:

Euro, bond market, financial integration, bond yield differential

Financial Disclosure and Market Transparency with Costly Information Processing

Forthcoming, Review of Finance, ECGI - Finance Working Paper
Number of pages: 47 Posted: 21 Oct 2012 Last Revised: 07 Dec 2016
Marco Di Maggio and Marco Pagano
Harvard Business School and University of Naples Federico II - Department of Economics and Statistics
Downloads 364 (62,553)
Citation 1

Abstract:

disclosure, transparency, complex assets

Financial Disclosure and Market Transparency with Costly Information Processing

Forthcoming, Review of Finance
Number of pages: 47 Posted: 01 Nov 2014 Last Revised: 07 Dec 2016
Marco Di Maggio and Marco Pagano
Harvard Business School and University of Naples Federico II - Department of Economics and Statistics
Downloads 199 (120,489)
Citation 1

Abstract:

disclosure, transparency, financial literacy, limited attention, OTC markets

Financial Disclosure and Market Transparency with Costly Information Processing

CEPR Discussion Paper No. DP9207
Number of pages: 40 Posted: 01 Feb 2013
Marco Di Maggio and Marco Pagano
Harvard Business School and University of Naples Federico II - Department of Economics and Statistics
Downloads 2 (540,403)
Citation 1

Abstract:

financial disclosure, information processing, liquidity, market transparency, rational inattention

Information Sharing, Lending and Defaults: Cross-Country Evidence

CSEF Working Paper No. 22.1999
Number of pages: 42 Posted: 07 Dec 1999
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 527 (39,540)
Citation 79

Abstract:

Information Sharing, Lending and Defaults: Cross-Country Evidence

CEPR Working Paper No. 2184
Posted: 23 Aug 1999
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics

Abstract:

Courts and Banks: Effects of Judicial Enforcement on Credit Markets

CSEF Working Paper No. 58
Number of pages: 43 Posted: 10 Mar 2002
Magda Bianco, Tullio Jappelli and Marco Pagano
Bank of Italy, University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 481 (44,403)
Citation 58

Abstract:

enforcement, judicial efficiency, credit market, interest rates

Courts and Banks: Effects of Judicial Enforcement on Credit Markets

CEPR Discussion Paper No. 3347
Number of pages: 46 Posted: 04 Jun 2002
Tullio Jappelli, Marco Pagano and Magda Bianco
University of Naples Federico II - Department of Economics, University of Naples Federico II - Department of Economics and Statistics and Bank of Italy
Downloads 30 (388,297)
Citation 58

Abstract:

Credit market, enforcement, interest rates, judicial efficiency

16.

Collateral vs. Project Screening: A Model of Lazy Banks

RAND Journal of Economics, Vol. 32, No. 4, Winter, 2001, CSEF WORKING PAPER No. 10
Number of pages: 22 Posted: 01 Dec 1998 Last Revised: 30 Dec 2010
Michael Manove, Jorge Padilla and Marco Pagano
Boston University - Department of Economics, Compass Lexecon and University of Naples Federico II - Department of Economics and Statistics
Downloads 500 (41,969)
Citation 85

Abstract:

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 398/2014, AFA 2012 Chicago Meetings Paper
Number of pages: 51 Posted: 19 Mar 2011 Last Revised: 18 May 2016
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 345 (66,695)
Citation 5

Abstract:

managerial talent, project allocation, insurance, mobility, turnover

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

NYU Working Paper No. 2451/31368
Number of pages: 51 Posted: 15 Dec 2011 Last Revised: 18 May 2016
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 111 (197,875)
Citation 5

Abstract:

managerial talent, alpha, risk taking, mobility, managerial labor market, competition, poaching

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

NBER Working Paper No. w18891
Number of pages: 49 Posted: 17 Mar 2013
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 5 (523,720)
Citation 5

Abstract:

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

CEPR Discussion Paper No. DP8905
Number of pages: 42 Posted: 04 Apr 2012
Viral V. Acharya, Marco Pagano and Paolo F. Volpin
New York University - Leonard N. Stern School of Business, University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 4 (528,768)
Citation 5

Abstract:

executive compensation, managerial talent, managerial turnover, short-termism

18.
Downloads 414 ( 54,173)
Citation 2

Optimal Regulation of Auditing

CESifo Working Paper Series No. 1980
Number of pages: 32 Posted: 15 May 2007
Marco Pagano and Giovanni Immordino
University of Naples Federico II - Department of Economics and Statistics and University of Salerno - Centre for Studies in Economics and Finance (CSEF)
Downloads 414 (53,649)
Citation 2

Abstract:

auditing, regulation, enforcement, collusion

Optimal Regulation of Auditing

CESifo Economic Studies, Vol. 53, No. 3, pp. 363-388, 2007
Posted: 28 Sep 2009
Marco Pagano and Giovanni Immordino
University of Naples Federico II - Department of Economics and Statistics and University of Salerno - Centre for Studies in Economics and Finance (CSEF)

Abstract:

auditing, regulation, enforcement, collusion.

Information Sharing and Credit: Firm-Level Evidence from Transition Countries

ECGI - Finance Working Paper No. 201/2008, EFA 2007 Ljubljana Meetings Paper
Number of pages: 43 Posted: 02 Mar 2007 Last Revised: 29 May 2013
Martin Brown, Tullio Jappelli and Marco Pagano
University of St. Gallen - Swiss Institute of Banking and Finance, University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 403 (55,426)
Citation 38

Abstract:

information sharing, credit access, transition countries

Information Sharing and Credit: Firm-Level Evidence from Transition Countries

CEPR Discussion Paper No. DP6313
Number of pages: 40 Posted: 27 May 2008
Martin Brown, Tullio Jappelli and Marco Pagano
University of St. Gallen - Swiss Institute of Banking and Finance, University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 2 (540,403)
Citation 38

Abstract:

credit access, information sharing, transition countries

20.
Downloads 362 ( 63,565)
Citation 1

Transparency, Tax Pressure and Access to Finance

AFA 2012 Chicago Meetings Paper, ECGI - Finance Working Paper No. 332/2012
Number of pages: 61 Posted: 18 Mar 2011 Last Revised: 11 Feb 2015
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 361 (63,155)
Citation 1

Abstract:

transparency, tax pressure, investment, access to finance

Transparency, Tax Pressure and Access to Finance

CEPR Discussion Paper No. DP8939
Number of pages: 64 Posted: 25 May 2012
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 1 (549,910)
Citation 1

Abstract:

access to finance, tax pressure, Transparency

21.
Downloads 342 ( 68,003)
Citation 48

Where is the Market? Evidence from Cross-Listings

EFA 2004 Maastricht Meetings Paper No. 4399
Number of pages: 29 Posted: 23 Jun 2004
University of Vienna - Department of Business Engineering, University of Naples Federico II - Department of Economics and Statistics, WU Vienna University of Economics and Business and Vienna University of Economics and Business
Downloads 322 (72,337)
Citation 47

Abstract:

trading volume, cross-listing, flow-back

Where is the Market? Evidence from Cross-Listings

CEPR Discussion Paper No. 4987
Number of pages: 34 Posted: 05 Aug 2005
University of Vienna - Department of Business Engineering, University of Naples Federico II - Department of Economics and Statistics, WU Vienna University of Economics and Business and Vienna University of Economics and Business
Downloads 20 (440,306)
Citation 48

Abstract:

Trading volume, cross-listing, flow-back

22.
Downloads 335 ( 69,622)
Citation 20

How Does Liquidity Affect Government Bond Yields?

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 61 Posted: 26 Jan 2009 Last Revised: 29 Jan 2009
Bocconi University - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Universitaet Mannheim
Downloads 203 (118,202)
Citation 20

Abstract:

bond markets, liquidity, risk

How Does Liquidity Affect Government Bond Yields?

Number of pages: 61 Posted: 15 Oct 2008 Last Revised: 20 Oct 2008
Bocconi University - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Universitaet Mannheim
Downloads 123 (183,082)
Citation 20

Abstract:

Liquidity, yield differentials, bond markets

How Does Liquidity Affect Government Bond Yields?

CEPR Discussion Paper No. DP6649
Number of pages: 44 Posted: 05 Jun 2008
Bocconi University - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Universitaet Mannheim
Downloads 9 (502,684)
Citation 20

Abstract:

Bond yields, euro area, liquidity, risk

23.
Downloads 332 ( 70,337)
Citation 313

Why Do Companies Go Public? An Empirical Analysis

NBER Working Paper No. w5367
Number of pages: 62 Posted: 10 Jun 2000
Marco Pagano, Fabio Panetta and Luigi Zingales
University of Naples Federico II - Department of Economics and Statistics, Bank of Italy and University of Chicago - Booth School of Business
Downloads 332 (69,803)
Citation 313

Abstract:

Why Do Companies Go Public? An Empirical Analysis

Journal of Finance, Vol. 53, No.1, February 1998
Posted: 23 Feb 2003
Marco Pagano, Fabio Panetta and Luigi Zingales
University of Naples Federico II - Department of Economics and Statistics, Bank of Italy and University of Chicago - Booth School of Business

Abstract:

24.

Searching for Non-Keynesian Effects of Fiscal Policy

IGIER Working Paper No. 136
Number of pages: 27 Posted: 14 Jan 1999
Bocconi University - Department of Economics, University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 310 (72,575)
Citation 20

Abstract:

25.

Valutation, Liquidity and Risk in Government Bond Markets

IGIER Working Paper No. 281
Number of pages: 44 Posted: 07 Feb 2005
Bocconi University - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Universitaet Mannheim
Downloads 300 (70,590)
Citation 14

Abstract:

The Sovereign-Bank Diabolic Loop and Esbies

American Economic Review, Vol. 6, No. 5, May 2016, HEC Paris Research Paper No. FIN-2016-1133, Columbia Business School Research Paper No. 16-12
Number of pages: 14 Posted: 25 Jan 2016 Last Revised: 14 Jun 2016
Princeton University - Department of Economics, University of Chicago - Booth School of Business - Economics, Trinity College (Dublin) - Department of Economics, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), Columbia Business School, MIT Sloan, New York University Stern School of Business, Department of Finance and London School of Economics
Downloads 247 (96,900)

Abstract:

diabolic loop, sovereign debt crisis, government default, bank default, bailout, ESBies

The Sovereign-Bank Diabolic Loop and Esbies

NBER Working Paper No. w21993
Number of pages: 16 Posted: 15 Feb 2016
Princeton University - Department of Economics, University of Chicago - Booth School of Business - Economics, Trinity College (Dublin) - Department of Economics, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), Columbia Business School, MIT Sloan, New York University Stern School of Business, Department of Finance and London School of Economics
Downloads 12 (485,849)

Abstract:

The Sovereign-Bank Diabolic Loop and ESBies

CEPR Discussion Paper No. DP11317
Number of pages: 17 Posted: 13 Jun 2016
Princeton University - Department of Economics, University of Chicago - Booth School of Business - Economics, Trinity College (Dublin) - Department of Economics, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), Columbia University, MIT Sloan, New York University Stern School of Business, Department of Finance and London School of Economics
Downloads 1 (549,910)

Abstract:

bailout, bank default, diabolic loop, ESBies, government default, sovereign debt crisis

27.

Sharing Default Information as a Borrower Discipline Device

CSEF Working Paper No. 21
Number of pages: 39 Posted: 22 Mar 2000
Jorge Padilla and Marco Pagano
Compass Lexecon and University of Naples Federico II - Department of Economics and Statistics
Downloads 246 (91,815)
Citation 42

Abstract:

28.

Lessons from the European Financial Crisis

CFS Working Paper No. 486
Number of pages: 31 Posted: 01 Nov 2014
Marco Pagano
University of Naples Federico II - Department of Economics and Statistics
Downloads 215 (76,765)

Abstract:

bank regulation, euro, financial crisis, sovereign exposures, forbearance, bank resolution, bank capital requirements

Employment and Wage Insurance within Firms: Worldwide Evidence

Kelley School of Business Research Paper No. 2014-23
Number of pages: 68 Posted: 23 Jul 2014 Last Revised: 09 Jul 2016
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Finance
Downloads 149 (157,685)

Abstract:

risk-sharing, insurance, social security, unemployment, wages, family firms

Employment and Wage Insurance within Firms: Worldwide Evidence

Kelley School of Business Research Paper No. 15-69, CFS Working Paper No. 517
Number of pages: 68 Posted: 22 Sep 2015 Last Revised: 09 Jul 2016
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Finance
Downloads 64 (281,012)

Abstract:

risk-sharing, insurance, social security, unemployment, wages, family firms

Employment and Wage Insurance within Firms: Worldwide Evidence

CEPR Discussion Paper No. DP10711
Number of pages: 61 Posted: 13 Jul 2015
Andrew Ellul, Marco Pagano and Fabiano Schivardi
Indiana University - Kelley School of Business - Department of Finance, University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Finance
Downloads 0

Abstract:

family firms, insurance, risk-sharing, social security, unemployment, wages

30.

Where is the Market? Evidence from Cross-Listings in the U.S.

Number of pages: 39 Posted: 14 Mar 2006
Swedish House of Finance, University of Naples Federico II - Department of Economics and Statistics, WU Vienna University of Economics and Business and Vienna University of Economics and Business
Downloads 183 (121,327)
Citation 50

Abstract:

cross-listing, trading volume, trade creation

Multiple-Bank Lending, Creditor Rights and Information Sharing

Number of pages: 48 Posted: 12 Feb 2009 Last Revised: 18 Feb 2009
University of Salerno - Centre for Studies in Economics and Finance (CSEF), University of Naples Federico II - Department of Economics and Statistics and Catholic University of the Sacred Heart of Milan
Downloads 172 (138,118)
Citation 8

Abstract:

information sharing, multiple-bank lending, creditor rights, seniority, non-exclusivity

Multiple-Bank Lending, Creditor Rights and Information Sharing

CEPR Discussion Paper No. DP7186
Number of pages: 51 Posted: 11 Mar 2009
University of Salerno - Centre for Studies in Economics and Finance (CSEF), University of Naples Federico II - Department of Economics and Statistics and Catholic University of the Sacred Heart of Milan
Downloads 10 (497,178)
Citation 8

Abstract:

creditor rights, information sharing, multiple-bank lending, non-exclusivity, seniority

Bank Exposures and Sovereign Stress Transmission

Number of pages: 62 Posted: 06 Aug 2015 Last Revised: 01 Jan 2017
European Central Bank (ECB), University of Naples Federico II - Department of Economics and Statistics and University of Naples Federico II - Department of Economics and Statistics
Downloads 129 (176,364)

Abstract:

sovereign exposures, sovereign risk, bank lending, credit risk, euro, crisis

Bank Exposures and Sovereign Stress Transmission

CFS WP No. 539
Number of pages: 64 Posted: 08 Oct 2016
European Central Bank (ECB), University of Naples Federico II - Department of Economics and Statistics and University of Naples Federico II - Department of Economics and Statistics
Downloads 30 (388,297)

Abstract:

overeign exposures, sovereign risk, bank lending, credit risk, euro, crisis

Bank Exposures and Sovereign Stress Transmission

ECB Working Paper No. 1969
Number of pages: 66 Posted: 19 Oct 2016
European Central Bank (ECB), University of Naples Federico II - Department of Economics and Statistics and University of Naples Federico II - Department of Economics and Statistics
Downloads 20 (446,050)

Abstract:

sovereign exposures, sovereign risk, credit risk, diabolic loop, euro debt crisis

33.
Downloads 138 (166,686)

Advertising Arbitrage

Number of pages: 37 Posted: 02 May 2014 Last Revised: 06 Aug 2014
Sergei Kovbasyuk and Marco Pagano
EIEF and University of Naples Federico II - Department of Economics and Statistics
Downloads 86 (235,969)

Abstract:

limits to arbitrage, advertising, price discovery, limited attention

Advertising Arbitrage

CFS Working Paper No. 482
Number of pages: 42 Posted: 14 Oct 2014 Last Revised: 22 Sep 2015
Sergei Kovbasyuk and Marco Pagano
EIEF and University of Naples Federico II - Department of Economics and Statistics
Downloads 52 (311,930)

Abstract:

limits to arbitrage, advertising, price discovery, limited attention

34.
Downloads 137 (167,645)

Short-Selling Bans and Bank Stability

Number of pages: 37 Posted: 04 Jan 2016 Last Revised: 25 Jan 2016
Alessandro Beber, Daniela Fabbri and Marco Pagano
Cass Business School, City University London - Sir John Cass Business School and University of Naples Federico II - Department of Economics and Statistics
Downloads 134 (171,122)

Abstract:

short selling, ban, financial crisis, bank stability, systemic risk

Short-Selling Bans and Bank Stability

CEPR Discussion Paper No. DP11090
Number of pages: 39 Posted: 17 Feb 2016
Alessandro Beber, Daniela Fabbri and Marco Pagano
Cass Business School, City University London - Sir John Cass Business School and University of Naples Federico II - Department of Economics and Statistics
Downloads 3 (533,861)

Abstract:

ban, bank stability, financial crisis, short-selling, systemic risk

35.

I Teoremi Di Modigliani-Miller: Una Pietra Miliare Della Finanza (The Modigliani-Miller Theorems: A Cornerstone of Finance)

Moneta e Credito, Vol.58, No. 230-231
Number of pages: 13 Posted: 22 May 2012
Marco Pagano
University of Naples Federico II - Department of Economics and Statistics
Downloads 106 (156,524)

Abstract:

teorema MM, debito, azioni, dividendi, utili

Public Debt and Private Firm Funding: Evidence from Chinese Cities

Number of pages: 67 Posted: 11 Aug 2016 Last Revised: 08 Sep 2016
Yi Huang, Marco Pagano and Ugo Panizza
Graduate Institute of International and Development Studies, University of Naples Federico II - Department of Economics and Statistics and Graduate Institute of International and Development Studies (IHEID) - Department of Economics
Downloads 105 (206,114)

Abstract:

Investment, Local Public Debt, Crowding out, Credit Constraints, China

Public Debt and Private Firm Funding: Evidence from Chinese Cities

CEPR Discussion Paper No. DP11489
Number of pages: 70 Posted: 06 Sep 2016
Yi Huang, Marco Pagano and Ugo Panizza
Graduate Institute of International and Development Studies, University of Naples Federico II - Department of Economics and Statistics and Graduate Institute of International and Development Studies (IHEID) - Department of Economics
Downloads 0

Abstract:

China., credit constraints, Crowding out, investment, Local public debt

37.

Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience

NBER Working Paper No. w5332
Number of pages: 50 Posted: 15 Jul 2000
Francesco Giavazzi and Marco Pagano
Bocconi University - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 92 (224,311)
Citation 71

Abstract:

38.
Downloads 89 (229,100)
Citation 3

The Welfare Effects of Liquidity Constraints

University of Salerno Working Paper No. 13
Number of pages: 30 Posted: 19 May 1999
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 89 (230,844)
Citation 3

Abstract:

The Welfare Effects of Liquidity Constraints

Oxford Economic Papers July 1999
Posted: 10 Jun 1999
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics

Abstract:

39.

Information Sharing in Credit Markets: International Evidence

IDB Working Paper No. 106
Number of pages: 39 Posted: 19 Apr 2011
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 79 (199,660)
Citation 93

Abstract:

40.

The Determinants of Savings: Lessons from Italy

IDB Working Paper No. 86
Number of pages: 36 Posted: 25 Apr 2011
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 76 (190,720)
Citation 3

Abstract:

41.
Downloads 76 (252,315)
Citation 62

The Political Economy of Finance

CEPR Discussion Paper No. 3231
Number of pages: 35 Posted: 21 Mar 2002
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 76 (254,771)
Citation 62

Abstract:

Political economy, shareholder protection, corporate governance, bankruptcy law, credit market regulation, financial

The Political Economy of Finance

Oxford Review of Economic Policy, Vol. 17, No. 4, 2001
Posted: 17 Oct 2003
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance

Abstract:

42.

Dealing with Financial Crises: How Much Help from Research?

CFS Working Paper No. 481
Number of pages: 19 Posted: 14 Oct 2014
Marco Pagano
University of Naples Federico II - Department of Economics and Statistics
Downloads 69 (246,659)

Abstract:

financial crisis, risk taking, systemic risk, financial regulation, monetary policy, politics

43.

Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries

NBER Working Paper No. w3372
Number of pages: 55 Posted: 09 May 2000
Francesco Giavazzi and Marco Pagano
Bocconi University - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 65 (268,687)
Citation 132

Abstract:

44.

Financial Disclosure with Limited Processing Capacity

Number of pages: 20 Posted: 16 Aug 2010
Marco Pagano
University of Naples Federico II - Department of Economics and Statistics
Downloads 63 (273,072)

Abstract:

disclosure, transparency, liquidity

45.
Downloads 59 (289,287)

ESBies: Safety in the Tranches

CFS WP No. 537
Number of pages: 55 Posted: 06 Oct 2016
Princeton University - Department of Economics, European Central Bank - European Systemic Risk Board Secretariat, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), New York University Stern School of Business, Department of Finance and London School of Economics
Downloads 34 (371,774)

Abstract:

ESBies: Safety in the Tranches

Prepared for the 64th Panel Meeting of Economic Policy, 14-15 October 2016
Number of pages: 52 Posted: 21 Sep 2016
Princeton University - Department of Economics, European Central Bank - European Systemic Risk Board Secretariat, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), New York University Stern School of Business, Department of Finance and London School of Economics
Downloads 25 (412,647)

Abstract:

ESBies, safe assets, sovereign debt, default, sovereign exposures, diabolic loop, tranching, pooling

ESBies: Safety in the Tranches

CEPR Discussion Paper No. DP11537
Number of pages: 55 Posted: 03 Oct 2016
Princeton University - Department of Economics, European Central Bank - European Systemic Risk Board Secretariat, University of Naples Federico II - Department of Economics and Statistics, London School of Economics & Political Science (LSE), New York University Stern School of Business, Department of Finance and London School of Economics
Downloads 0

Abstract:

bank-sovereign loop, ESBies, Euro crisis, monetary policy, public debt issuance, safe assets

Financial Market Integration and Economic Growth in the EU

CEPR Discussion Paper No. 4395
Number of pages: 62 Posted: 06 Jul 2004
Einaudi Institute for Economics and Finance (EIEF), University of Naples Federico II - Department of Economics, University "Ca' Foscari" of Venice and University of Naples Federico II - Department of Economics and Statistics
Downloads 34 (371,774)
Citation 38

Abstract:

Financial integration, financial development, growth

Financial Market Integration and Economic Growth in the EU

Economic Policy, Vol. 19, No. 40, pp. 523-577, October 2004
Number of pages: 55 Posted: 08 Oct 2004
Einaudi Institute for Economics and Finance (EIEF), University of Naples Federico II - Department of Economics, University "Ca' Foscari" of Venice and University of Naples Federico II - Department of Economics and Statistics
Downloads 15 (468,676)
Citation 38

Abstract:

47.

Comment on 'Monetary Policy and Financial Stability: What Role in Prevention and Recovery?' (by Claudio Borio)

Capitalism and Society, Vol. 9, No. 2, Article 4, 2014
Number of pages: 5 Posted: 12 Nov 2014
Marco Pagano
University of Naples Federico II - Department of Economics and Statistics
Downloads 46 (301,868)

Abstract:

Searching for Non-Monotonic Effects of Fiscal Policy: New Evidence

NBER Working Paper No. w11593
Number of pages: 25 Posted: 26 Oct 2005
Bocconi University - Department of Economics, University of Naples Federico II - Department of Economics, University of Naples Federico II - Department of Economics and Statistics and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 25 (412,647)
Citation 15

Abstract:

Searching for Non-Monotonic Effects of Fiscal Policy: New Evidence

CEPR Discussion Paper No. 5272
Number of pages: 27 Posted: 15 Nov 2005
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Bocconi University - Department of Economics, University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 21 (434,620)
Citation 13

Abstract:

Fiscal policy, national saving

49.

Confidence Crises and Public Debt Management

NBER Working Paper No. w2926
Number of pages: 27 Posted: 07 Apr 2004
Francesco Giavazzi and Marco Pagano
Bocconi University - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 43 (321,434)
Citation 25

Abstract:

50.

Bank Bias in Europe: Effects on Systemic Risk and Growth

ECB Working Paper No. 1797
Number of pages: 61 Posted: 24 Jun 2015
Sam Langfield and Marco Pagano
European Central Bank - European Systemic Risk Board Secretariat and University of Naples Federico II - Department of Economics and Statistics
Downloads 33 (198,281)

Abstract:

bank regulation; banks; financial structure; systemic risk

51.

Searching for Non-Linear Effects of Fiscal Policy: Evidence from Industrial and Developing Countries

NBER Working Paper No. w7460
Number of pages: 37 Posted: 30 Mar 2000
Bocconi University - Department of Economics, University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 29 (367,082)
Citation 74

Abstract:

52.

Financial Market Integration Under EMU

CEPR Discussion Paper No. DP7091
Number of pages: 45 Posted: 17 Feb 2009
Tullio Jappelli and Marco Pagano
University of Naples Federico II - Department of Economics and University of Naples Federico II - Department of Economics and Statistics
Downloads 14 (451,113)
Citation 9

Abstract:

EMU, financial market integration

53.
Downloads 9 (481,575)
Citation 19

Credit Ratings Failures and Policy Options

CEPR Discussion Paper No. DP7556
Number of pages: 31 Posted: 11 Jan 2010
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 7 (513,463)
Citation 19

Abstract:

credit rating agencies, crisis, default, liquidity, securitization, transparenccy

Credit Ratings Failures and Policy Options

Economic Policy, Vol. 25, Issue 62, pp. 401-431, April 2010
Number of pages: 31 Posted: 05 Apr 2010
Marco Pagano and Paolo F. Volpin
University of Naples Federico II - Department of Economics and Statistics and City University London - Faculty of Finance
Downloads 2 (540,403)
Citation 19

Abstract:

54.

Legal Standards, Enforcement and Corruption

CEPR Discussion Paper No. DP7071
Number of pages: 36 Posted: 18 Dec 2008
Giovanni Immordino and Marco Pagano
University of Salerno - Centre for Studies in Economics and Finance (CSEF) and University of Naples Federico II - Department of Economics and Statistics
Downloads 2 (514,527)
Citation 7

Abstract:

corruption, enforcement, legal standards, tollbooth view

55.

Finance and Employment

Economic Policy, Vol. 27, Issue 69, pp. 5-55, 2012
Number of pages: 51 Posted: 18 Jan 2012
Marco Pagano and Giovanni Pica
University of Naples Federico II - Department of Economics and Statistics and University of Milan - Department of Economics, Management and Quantitative Methods (DEMM)
Downloads 1 (522,606)
Citation 4

Abstract:

56.

Incentives to Innovate and Social Harm: Laissez-Faire, Authorization or Penalties?

CEPR Discussion Paper No. DP7280
Number of pages: 29 Posted: 15 Jul 2009
Giovanni Immordino, Marco Pagano and Michele Polo
University of Salerno - Centre for Studies in Economics and Finance (CSEF), University of Naples Federico II - Department of Economics and Statistics and Bocconi University - Department of Economics
Downloads 1 (522,606)
Citation 1

Abstract:

authorization, deterrence, innovation, liability for harm, safety regulation

57.

Bank Exposures and Sovereign Stress Transmission

CEPR Discussion Paper No. DP11269
Number of pages: 58 Posted: 16 May 2016
European Central Bank (ECB), University of Naples Federico II - Department of Economics and Statistics and University of Naples Federico II - Department of Economics and Statistics
Downloads 0 (522,606)

Abstract:

credit risk, diabolic loop, euro debt crisis., lending, sovereign exposures, sovereign risk

58.

Systemic Risk, Sovereign Yields and Bank Exposures in the Euro Crisis

Economic Policy, Vol. 29, Issue 78, pp. 203-251, 2014
Number of pages: 49 Posted: 31 May 2014
Rutgers, The State University of New Jersey - Rutgers University, Newark, University of Naples Federico II - Department of Economics and Statistics and University of Naples Federico II - Department of Economics and Statistics
Downloads 0 (532,661)
Citation 3

Abstract:

59.

Where is the Market? Evidence from Cross-Listings in the United States

Review of Financial Studies, Vol. 21, Issue 2, pp. 725-761, 2008
Posted: 26 Jun 2008
Swedish House of Finance, University of Naples Federico II - Department of Economics and Statistics, WU Vienna University of Economics and Business and Vienna University of Economics and Business

Abstract:

G15, G30

60.

Ipo Underpricing and After-Market Liquidity

The Review of Financial Studies, Vol. 19, Issue 2, pp. 381-421, 2006
Posted: 29 Feb 2008
Andrew Ellul and Marco Pagano
Indiana University - Kelley School of Business - Department of Finance and University of Naples Federico II - Department of Economics and Statistics

Abstract:

61.

The Geography of Equity Listing: Why Do Companies List Abroad?

The Journal of Finance, Vol. 57, pp. 2651-2694, 2002
Posted: 06 Jun 2003
Marco Pagano, Ailsa Röell and Josef Zechner
University of Naples Federico II - Department of Economics and Statistics, Columbia University, School of International and Public Affairs and Vienna University of Economics and Business

Abstract:

62.

The Stock Market as a Source of Capital: Some Lessons from Initial Public Offerings in Italy

European Economic Review, Vol. 40, Issues 3-5, pp. 1057-1069, April 1996
Posted: 23 Feb 2003
Marco Pagano, Fabio Panetta and Luigi Zingales
University of Naples Federico II - Department of Economics and Statistics, Bank of Italy and University of Chicago - Booth School of Business

Abstract:

Initial public offering, Going public, Stock market

63.

Collateral versus Project Screening: A Model of Lazy Banks

RAND Journal of Economics, Vol. 32, No. 4, Winter 2001
Posted: 19 Nov 2001
Michael Manove, Jorge Padilla and Marco Pagano
Boston University - Department of Economics, Compass Lexecon and University of Naples Federico II - Department of Economics and Statistics

Abstract:

64.

Endogenous Communication among Lenders and Entrepreneurial Incentives

REVIEW OF FINANCIAL STUDIES, Vol. 10 No. 1
Posted: 26 Nov 1996
Jorge Padilla and Marco Pagano
Compass Lexecon and University of Naples Federico II - Department of Economics and Statistics

Abstract: