The Bank of Italy released three new Working Papers (Nos. 1526–1528) and two new Occasional Papers (Nos. 1007–1008), spanning research on education choices after the Great Recession, the macroeconomic role of time-varying asset safety, innovation policy, household income measurement, and indicators of cyclical systemic risk. Working Paper No. 1528 studies students’ educational aspirations and investments in the aftermath of the Great Recession, while No. 1527 examines the macroeconomic consequences of time-varying asset safety, including links to flight-to-safety dynamics, sovereign debt, convenience yields and fiscal policy. Working Paper No. 1526 analyses regional research and development subsidies in Southern Italy, including the role of European Union funds. Occasional Paper No. 1008 presents bounds for timely estimates of average household income, and Occasional Paper No. 1007 develops a composite indicator of systemic risk related to the Italian financial cycle, positioned for use in financial stability monitoring and macroprudential policy.
Bank of Italy 2026-04-21
Bank of Italy publishes three new Working Papers and two Occasional Papers on safe assets, R&D subsidies and systemic risk
The Bank of Italy published three Working Papers and two Occasional Papers covering education choices after the Great Recession, the macroeconomic role of time-varying asset safety, innovation policy, and household income measurement. The research also introduces a composite indicator of cyclical systemic risk for the Italian financial cycle intended to support financial stability monitoring and macroprudential policy.