The Bank of Italy published ten new Working Papers (Nos. 1493–1502), presenting new research across monetary policy, macro-finance, corporate behaviour and socio-economic issues. The series includes work on global risk aversion and the term premium gap in emerging market economies, and on what drives policy rate expectations using evidence from the post-pandemic monetary policy cycle. Other papers examine firms’ pass-through of cost shocks to prices and profits, the heterogeneous impact of green bonds on companies’ ESG scores, and the role of “value of words” in non-financial disclosure regulation and its links to corporate accounts and access to credit. Additional topics covered are mafia infiltrations during the Covid-19 shock, natural disasters and markups, trade volatility and political regimes, local labour market conditions and electoral behaviour in Italy, and the fiscal effects of immigration on Italian municipalities.
Bank of Italy 2025-10-13
Bank of Italy releases ten new Working Papers on monetary policy expectations, firm pricing and sustainability finance
The Bank of Italy released ten new Working Papers (Nos. 1493–1502) covering topics such as global risk aversion, policy rate expectations, and firms' cost shock pass-through. The research also explores the impact of green bonds on ESG scores, non-financial disclosure regulation, and various socio-economic issues including mafia infiltrations, trade volatility, and immigration's fiscal effects on Italian municipalities.