The Money and Finance Research (Mo.Fi.R.) group was established in 2007 with the aim of investigating, from both the empirical and theoretical points of view, the evolution of the financial system as the collection of financial institutions, intermediaries and markets and  understanding the real consequences of that evolution for the development of the economic system at the regional, national and international levels.

This mission is fulfilled through a variety of activities, including sponsored research, seminars, conferences carried out by a bulk of economists from the Department of Economics and Social Sciences of the Università Politecnica delle Marche, in cooperation with researchers from other universities, post-doc research fellows, PhD students and graduate students.

News

12th MoFiR workshop on banking - July 6-7, 2023 - Naples, Italy.  Keynote speaker: Vasso Ioannidou (Bayes Business School (formerly Cass) and CEPR)

MoFiR virtual seminars on banking and financial intermediation. Please register here to our mailing list to receive the invitations to the seminars.

Latest working papers:

• Caiazzo E., Zazzaro A. (2023). Bank diversity and financial contagion, MoFiR wp n°178.

• Bellucci A., Borisov A., Giombini G., Zazzaro A. (2022). Information asimmetry, external certification and the cost of bank debt, MoFiR wp n°177.

• Fratianni M., Giri F., Lucchetti R., Valentini F. (2022). Monetization, wars and the Italian fiscal multiplier, MoFiR wp n°176.

• Bellucci A., Gucciardi G., Locatelli R., Schena C. (2022). Gender gap in business angel financing, MoFiR wp n°175.

• Beccari G., Marchionne F., Pisicoli B. (2022). Alternative financing and investment in intangibles: evidence from Italian firms, MoFiR wp n° 174.

• Mistrulli P. E., Oliviero T., Rotondi Z., Zazzaro A. (2022). Job protection and mortgage conditions: Evidence from Italian administrative data, MoFiR wp n° 173.

• Cascarino G., Gallo R., Palazzo F., Sette E. (2022). Public guarantees and credit additionality during the Covid-19 pandemic, MoFiR wp n° 172.

• Bellucci A., Fatica S., Georgakaki A., Gucciardi G., Letout S., Pasimeni F. (2022). Venture Capital Financing and Green Patenting, MoFiR wp n°171.

• De Bonis R., Ferrero G. (2021). O tell me the truth about Central Bank Digital Currency, MoFiR wp n°170.

• Marchionne F., Fratianni M., Giri F., Papi L. (2021). Frequency vs. Size of Bank Fines in Local Credit Markets, MoFiR wp n°169.

• Bellucci A., Borisov A., Giombini G., Zazzaro A. (2021). Estimating the Relationship Between Collateral and Interest Rate: A Comparison of Methods, MoFiR wp n°168.

• Bellucci A., Borisov A., Gucciardi G., Zazzaro A. (2020). The Reallocation Effects of COVID-19: Evidence from Venture Capital Investments around the World, MoFiR wp n°167.

• Didier T., Levine R., Montanes R.L., Schmukler S.L. (2020). Capital market financing and firm growth, MoFiR wp n°166.

• Calomiris C.W., Larrain M., Schmukler S.L., Williams T. (2020). Search for Yield in Large International Corporate Bonds: Investor Behavior and Firm Responses, MoFiR wp n°165.

• Bettin G., Pigini C., Zazzaro A. (2020). Financial inclusion and poverty transitions: an empirical analysis for Italy, MoFiR wp n°164.

• Manaresi F., Menon C., Santoleri P. (2020). Supporting innovative entrepreneurship: an evaluation of the Italian "Start-up Act", MoFiR wp n°163.

• Didier T., Huneeus F., Larrain M., Schmukler S.L. (2020). Financing firms in hibernation during the COVID-19 pandemic, MoFiR wp n°162.

• Uchida H., Yamada K., Zazzaro A. (2020). Management innovations in family firms after succession: evidence from Japanese SMEs, MoFiR wp n°161.

• Murro P., Oliviero T., Zazzaro A. (2020). Relationship lending and employment decisions in firms’ bad times, MoFiR wp n°160.

Latest publications:

• Didier T., Montanes R.L., Schmukler S.L. (2017). International financial integration of East Asia and Pacific, Journal of the Japanese and International Economies, 44: 52-66.

  • Bettin G, Zazzaro A, The impact of natural disasters on remittances to low- and middle-income countries, Journal of Development Studies, forthcoming, 

  • Fratianni M and Marchionne F, Bank asset reallocation and sovereign debt, Journal of International Financial Markets, Institutions & Money, 47: 15-32.

  • Presbitero AF, Too much and too fast? Public investment scaling-up and absorptive capacity, Journal of Development Economics, 120: 17-31.

• Pietrovito F., Pozzolo A.F., Salvatici L.. Internationalization Choices: An Ordered Probit Analysis at Industry-level, Empirical Economics, 50: 561-594.

  • Bettin G, Presbitero AF, Spatafora N, Remittances and vulnerability in developing countries, World Bank Economic Review, doi:10.1093/wber/lhv053. 

• Bettin G, Lucchetti R, Steady streams and sudden bursts: persistence patterns in remittance decisions, Journal of Population Economics, doi:10.1007/s00148-015-0565-9.

• Papi L, Presbitero AF, Zazzaro A, IMF lending and banking crises, IMF Economic Review, 63(3): 644-691.

• Eberhardt M, Presbitero AF, Public debt and growth: heterogeneity and non-linearity, Journal of International Economics, 97(1): 45-58.

  • Presbitero AF, Rabellotti R, Piras C, Barking up the wrong tree: Measuring gender gaps in firm's access to finance, Journal of Development Studies, 50(10): 1430-44.

  • Presbitero AF, Sacchi A, Zazzaro A, Property tax and fiscal discipline in OECD countries, Economics Letters, 124(3): 428-33.

  • Panizza U, Presbitero AF, Public debt and economic growth: Is there a causal effect? Journal of Macroeconomics, 41: 21-41.