Publications

by members of

Centre for Research on Pensions and Welfare Policies (CeRP)
Collegio Carlo Alberto
Moncalieri, Italy

Working papers

2009

1. Carolina Fugazza & Massimo Guidolin & Giovanna Nicodano, 2009. "Time and Risk Diversification in Real Estate Investments: Assessing the Ex Post Economic Value," CeRP Working Papers 82, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
2. Carolina Fugazza & Massimo Guidolin & Giovanna Nicodano, 2009. "Time and risk diversification in real estate investments: assessing the ex post economic value," Working Papers 2009-001, Federal Reserve Bank of St. Louis. [Downloadable!]
3. Margherita Borella & Flavia Coda Moscarola, 2009. "Microsimulation of Pension Reforms: Behavioural versus Nonbehavioural Approach," CeRP Working Papers 86, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
4. Giofré, Maela M., 2009. "The Role of Information Asimmetries and Inflation Hedging in International Equity Portfolios," MPRA Paper 13925, University Library of Munich, Germany. [Downloadable!]

2008

1. Elisa Luciano & Giovanna Nicodano, 2008. "Ownership links, leverage and credit risk," Carlo Alberto Notebooks 69, Collegio Carlo Alberto. [Downloadable!]
2. Elisa Luciano & Giovanna Nicodano, 2008. "Leverage, Value and Firm Scope," Carlo Alberto Notebooks 95, Collegio Carlo Alberto. [Downloadable!]
3. Michele Belloni & Rob Alessie, 2008. "The Importance of Financial Incentives on Retirement Choices," Tinbergen Institute Discussion Papers 08-052/3, Tinbergen Institute. [Downloadable!]
4. Michele Belloni & Rob Alessie, 2008. "The Importance of Financial Incentives on Retirement Choices:New Evidence for Italy," Working Papers 08-10, Utrecht School of Economics. [Downloadable!]
5. Michele Belloni & Rob Alessie, 2008. "Retirement Choices: New Evidence for Italy," CeRP Working Papers 73, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
6. Riccardo Calcagno & Roman Kraeussl & Chiara Monticone, 2008. "An Analysis of the Effects of the Severance Payment Reform on Credit to Italian SMEs," Tinbergen Institute Discussion Papers 08-107/2, Tinbergen Institute. [Downloadable!]
7. Giofré, Maela/M., 2008. "Convergence of EMU Equity Portfolios," MPRA Paper 13927, University Library of Munich, Germany. [Downloadable!]
8. Giofré, Maela/M., 2008. "Bias in foreign equity portfolios: households versus professional investors," MPRA Paper 13929, University Library of Munich, Germany. [Downloadable!]
9. Giofré, Maela/M., 2008. "EMU Effects on Stock Markets: From Home Bias to Euro Bias," MPRA Paper 13926, University Library of Munich, Germany. [Downloadable!]

2007

1. Giovanni Mastrobuoni & Matthew Weinberg, 2007. "Heterogeneity in Intra-Monthly Consumption Patterns, Self-Control, and Savings at Retirement," Carlo Alberto Notebooks 36, Collegio Carlo Alberto. [Downloadable!]
2. Massimo Guidolin & Giovanna Nicodano, 2007. "Small caps in international equity portfolios: the effects of variance risk," Working Papers 2005-075, Federal Reserve Bank of St. Louis. [Downloadable!]
3. Massimo Guidolin & Giovanna Nicodano, 2007. "Managing international portfolios with small capitalization stocks," Working Papers 2007-030, Federal Reserve Bank of St. Louis. [Downloadable!]
4. Massimo Guidolin & Giovanna Nicodano, 2007. "Small Caps in International Diversified Portfolios," CeRP Working Papers 68, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
5. Carolina Fugazza & Massimo Guidolin & Giovanna Nicodano, 2007. "Investing in Mixed Asset Portfolios: the Ex-Post Performance," CeRP Working Papers 69, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
6. Carolina Fugazza & Maela Giofré & Giovanna Nicodano, 2007. "International Diversification and Labor Income Risk," CeRP Working Papers 67, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
7. Margherita Borella & Elsa Fornero & Maria Cristina Rossi, 2007. "Does Consumption Respond to Predicted Increases in Cash-on-hand Availability? Evidence from the Italian “Severance Pay”," CeRP Working Papers 62, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
8. Flavia Coda Moscarola, 2007. "Women participation and caring decisions: do different institutional frameworks matter? A comparison between Italy and The Netherlands," CeRP Working Papers 71, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
9. F. Rosati & M. Rossi, 2007. "Impact of school quality on child labor and school: the case of CONAFE Compensatory Education Program in Mexico," UCW Working Paper 36, Understanding Children's Work (UCW Project). [Downloadable!]
10. F.Rosati & M. Rossi, 2007. "Impact of school quality on child labor and school attendance: the case of CONAFE Compensatory Education Program in Mexico," UCW Working Paper 21, Understanding Children's Work (UCW Project). [Downloadable!]
11. Riccardo Calcagno & Roman Kraeussl & Chiara Monticone, 2007. "An Analysis of the Effects of the Severance Pay Reform on Credit to Italian SMEs," CeRP Working Papers 59, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]

2006

1. Giovanni Mastrobuoni, 2006. "The Social Security Earnings Test Removal. Money Saved or Money Spent by the Trust Fund?," Carlo Alberto Notebooks 25, Collegio Carlo Alberto. [Downloadable!]
2. Giovanni Mastrobuoni, 2006. "Labor Supply Effects of the Recent Social Security Benefit Cuts: Empirical Estimates Using Cohort Discontinuities," CeRP Working Papers 53, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
3. Giovanni Mastrobuoni, 2006. "The Social Security Earnings Test Removal. Money Saved or Money Spent by the Trust Fund?," CeRP Working Papers 51, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
4. Carolina Fugazza & Massimo Guidolin & Giovanna Nicodano, 2006. "Investing for the long-run in European real estate," Working Papers 2006-028, Federal Reserve Bank of St. Louis. [Downloadable!]
5. Andrea Buffa & Giovanna Nicodano, 2006. "Should Insider Trading be Prohibited when Share Repurchases are Allowed?," Carlo Alberto Notebooks 16, Collegio Carlo Alberto. [Downloadable!]
6. Onorato Castellino & Elsa Fornero, 2006. "Public Policy and the Transition to Private Pension Provision in the United States and Europe," CeRP Working Papers 48, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
7. Orazio Attanasio & Margherita Borella, 2006. "Stochastic Components of Individual Consumption: A Time Series Analysis of Grouped Data," NBER Working Papers 12456, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
8. Michele Belloni & Carlo Maccheroni, 2006. "Actuarial Neutrality when Longevity Increases: An Application to the Italian Pension System," CeRP Working Papers 47, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
9. Mariacristina Rossi, 2006. "Examining the interaction between saving and contributions to Personal Pension Plans. Evidence from the BHPS," CeRP Working Papers 49, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
10. Andrea Buffa & Chiara Monticone, 2006. "Do European Pension Reforms Improve the Adequacy of Saving?," CeRP Working Papers 50, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]

2005

1. Giovanni Mastrobuoni & Wioletta Dziuda, 2005. "The Euro Changeover and Its Effects on Price Transparency, and Inflation. Mission Euro, Mission Accomplished!," International Finance 0503003, EconWPA, revised 24 May 2005. [Downloadable!]
2. Giovanni Mastrobuoni, 2005. "Labor Supply Effects of the Recent Social Security Benefit Cuts: Empirical Estimates Using Cohort Discontinuities," Carlo Alberto Notebooks 33, Collegio Carlo Alberto, revised 2006. [Downloadable!]
3. Giovanni Mastrobuoni & Wioletta Dziuda, 2005. "The Euro Changeover and its Effects on Price Transparency and Inflation," Carlo Alberto Notebooks 26, Collegio Carlo Alberto, revised 2006. [Downloadable!]
4. Marco Da Rin & Giovanna Nicodano & Alessandro Sembenelli, 2005. "Public policy and the creation of active venture capital markets," Working Paper Series 430, European Central Bank. [Downloadable!]
5. Massimo Guidolin & Giovanna Nicodano, 2005. "Small Caps in International Equity Portfolios: The Effects of Variance Risk," CeRP Working Papers 41, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
6. Carolina Fugazza & Massimo Guidolin & Giovanna Nicodano, 2005. "Investing for the Long-Run in European Real Estate. Does Predictability Matter?," CeRP Working Papers 40, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
7. Margherita Borella & Flavia Coda Moscarola, 2005. "Distributive Properties of Pensions Systems: A Simulation of the Italian Transition from Defined Benefit to Defined Contribution," CeRP Working Papers 42, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
8. Carolina Fugazza & Federica Teppa, 2005. "An Empirical Assessment of the Italian Severance Payment," CeRP Working Papers 38, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
9. Mariacristina Rossi, 2005. "Households' Consumption under the Habit Formation Hypothesis. Evidence from Italian Households using the Survey of Household Income and Wealth (SHIW)," Economics Discussion Papers 595, University of Essex, Department of Economics. [Downloadable!]
10. Alderman, Harold & Hoogeveen, Hans & Rossi, Mariacristina, 2005. "Reducing child malnutrition in Tanzania - combined effects of income growth and program interventions," Policy Research Working Paper Series 3567, The World Bank. [Downloadable!]

2004

1. Bortolotti, Bernardo & de Jong, Frank & Nicodano, Giovanna & Schindele, Ibolya, 2004. "Privatization and Stock Market Liquidity," SIFR Research Report Series 23, Institute for Financial Research. [Downloadable!]
2. Bortolotti, Bernardo & de Jong, Frank & Nicodano, Giovanna & Schindele, Ibolya, 2004. "Privatization and Stock Market Liquidity," CEPR Discussion Papers 4449, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
3. Marco Da Rin & Giovanna Nicodano & Alessandro Sembenelli, 2004. "Public Policy and the Creation of Active Venture Capital Markets," Working Papers 270, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University. [Downloadable!]
4. Elsa Fornero & Carolina Fugazza & Giacomo Ponzetto, 2004. "A Comparative Analysis of the Costs of Italian Individual Pension Plans," CeRP Working Papers 33, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
5. Riccardo Calcagno & Florian Heider, 2004. "Market Based Compensation, Trading And Liquidity," Business Economics Working Papers wb046224, Universidad Carlos III, Departamento de Economía de la Empresa. [Downloadable!]
6. Calcagno, R. & Renneboog, L.D.R., 2004. "Capital structure and managerial compensation : the effects of remuneration seniority," Discussion Paper 120, Tilburg University, Center for Economic Research. [Downloadable!]

2003

1. Gabriella Chiesa & Giovanna Nicodano, 2003. "Privatization and Financial Market Development: Theoretical Issues," Working Papers 2003.1, Fondazione Eni Enrico Mattei. [Downloadable!]
2. Calcagno, R. & Wagner, W., 2003. "The inefficiency of the stock market equilibrium under moral hazard," Discussion Paper 107, Tilburg University, Center for Economic Research. [Downloadable!]
3. Furio C. Rosati & Mariacristina Rossi, 2003. "Children's Working Hours and School Enrollment: Evidence from Pakistan and Nicaragua," CEIS Research Paper 25, Tor Vergata University, CEIS. [Downloadable!]
4. Alessandra Guariglia & Mariacristina Rossi, 2003. "Private Medical Insurance and Saving: Evidence from the British Household Panel Survey," CEIS Research Paper 39, Tor Vergata University, CEIS. [Downloadable!]

2002

1. Calcagno, R. & Lovo, S.M., 2002. "Market efficiency and price formation when dealers are asymmetrically informed," Discussion Paper 42, Tilburg University, Center for Economic Research. [Downloadable!]
2. Guariglia Alessandra & Rossi Mariacristina, 2002. "Private Medical Insurance And Saving: Evidence From The British Household Panel Survey," Departmental Working Papers 165, Tor Vergata University, CEIS. [Downloadable!]

2001

1. Margherita Borella, 2001. "The Error Structure of Earnings: an Analysis on Italian Longitudinal Data," CeRP Working Papers 07, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
2. Margherita Borella, 2001. "Social Security Systems and the Distribution of Income: an Application to the Italian Case," CeRP Working Papers 08, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
3. Nicolas Boccard & Riccardo Calcagno, 2001. "Asymmetries of Information in Electronic Systems," CSEF Working Papers 63, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
4. LOVO, Stefano M. & CALCAGNO, R., 2001. "Market efficiency and Price Formation when Dealers are Asymmetrically Informed," Les Cahiers de Recherche 737, HEC Paris. [Downloadable!]
5. Flavia Coda Moscarola, 2001. "The Effects of Immigration Inflows on the Sustainability of the Italian Welfare States," CeRP Working Papers 06, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
6. F. Rosati & M. Rossi, 2001. "Children's Working Hours, School Enrolment and Human Capital Accumulation: Evidence from Pakistan and Nicaragua," UCW Working Paper 8, Understanding Children's Work (UCW Project). [Downloadable!]

2000

1. Pier Marco Ferraresi & Elsa Fornero, 2000. "Social Security Transition in Italy: Costs, Distorsions and (some) Possible Corrections," CeRP Working Papers 02, Center for Research on Pensions and Welfare Policies, Turin (Italy). [Downloadable!]
2. Calcagno, R., 2000. "Is leverage effective in increasing performance under managerial moral hazard?," Discussion Paper 101, Tilburg University, Center for Economic Research. [Downloadable!]

1999

1. Bhattacharya, Sudipto & Nicodano, Giovanna, 1999. "Insider Trading, Investment and Liquidity," CEPR Discussion Papers 2251, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
2. Giovanna Nicodano & Sudipto Bhattacharya, 1999. "Insider Trading, Investment and Liquidity: A Welfare Analysis," FMG Discussion Papers dp334, Financial Markets Group. [Downloadable!] (restricted)
3. Boccard, N. & Calcagno, R., 1999. "Asymmetries of information in centralized order-driven markets," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1999016, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]

1998

1. Calcagno, Riccardo & Lovo, Stefano M., 1998. "Bid-Ask Price Competition with Asymmetric Information between Market Makers," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1998012, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES). [Downloadable!]

1992

1. Giovanna Nicodano, 1992. "Corporate Information Sales and Market Liquidity: A Property Right Approach to Insider Trading," CEPR Financial Markets Paper 0025, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 53--56 Great Sutton Street, London EC1V 0DG.

1990

1. Giovanna Nicodano, 1990. "Information Supply with a Linear Signalling Rule: A Note on Distorted Signals," CEPR Financial Markets Paper 0009, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 53--56 Great Sutton Street, London EC1V 0DG.

1989

1. Nicodano, G., 1989. "Equilibrium Public Information In Asset Markets," Papers 105, Princeton, Department of Economics - Financial Research Center.

Journal articles

2009

1. Massimo Guidolin & Giovanna Nicodano, 2009. "Small caps in international equity portfolios: the effects of variance risk," Annals of Finance, Springer, vol. 5(1), pages 15-48, January. [Downloadable!] (restricted)

2008

1. Andrea M. Buffa & Giovanna Nicodano, 2008. "Should Insider Trading be Prohibited when Share Repurchases are Allowed?," Review of Finance, Oxford University Press for European Finance Association, vol. 12(4), pages 735-765. [Downloadable!] (restricted)

2007

1. Bortolotti, Bernardo & de Jong, Frank & Nicodano, Giovanna & Schindele, Ibolya, 2007. "Privatization and stock market liquidity," Journal of Banking & Finance, Elsevier, vol. 31(2), pages 297-316, February. [Downloadable!] (restricted)
2. Carolina Fugazza & Massimo Guidolin & Giovanna Nicodano, 2007. "Investing for the Long-run in European Real Estate," The Journal of Real Estate Finance and Economics, Springer, vol. 34(1), pages 35-80, January. [Downloadable!] (restricted)

2006

1. Bianco, Magda & Nicodano, Giovanna, 2006. "Pyramidal groups and debt," European Economic Review, Elsevier, vol. 50(4), pages 937-961, May. [Downloadable!] (restricted)
2. Da Rin, Marco & Nicodano, Giovanna & Sembenelli, Alessandro, 2006. "Public policy and the creation of active venture capital markets," Journal of Public Economics, Elsevier, vol. 90(8-9), pages 1699-1723, September. [Downloadable!] (restricted)
3. Elsa Fornero, 2006. "Fenge, R., and Pestieau, P.: Social Security and Early Retirement," Journal of Economics, Springer, vol. 89(2), pages 190-192, November. [Downloadable!] (restricted)
4. Margherita Borella & Flavia Coda Moscarola, 2006. "Distributive Properties of Pensions Systems: A Simulation of the Italian Transition from Defined Benefit to Notional Defined Contribution," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 65(1), pages 95-126, May. [Downloadable!]
5. Calcagno, Riccardo & Wagner, Wolf, 2006. "Dispersed initial ownership and the efficiency of the stock market under moral hazard," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 36-45, February. [Downloadable!] (restricted)
6. Riccardo Calcagno & Stefano Lovo, 2006. "Bid-Ask Price Competition with Asymmetric Information between Market-Makers," Review of Economic Studies, Blackwell Publishing, vol. 73(2), pages 329-355, 04. [Downloadable!] (restricted)
7. Alderman, Harold & Hoogeveen, Hans & Rossi, Mariacristina, 2006. "Reducing child malnutrition in Tanzania: Combined effects of income growth and program interventions," Economics and Human Biology, Elsevier, vol. 4(1), pages 1-23, January. [Downloadable!] (restricted)

2005

1. Fornero, Elsa, 2005. "The Economics of an Ageing Population: Macroeconomic Issues. Paolo Onofri, ed. Edward Elgar, 2004. ESRI Studies Series on Ageing; ISBN 1843767791, 448 pages, Price $150.00," Journal of Pension Economics and Finance, Cambridge University Press, vol. 4(03), pages 337-338, November. [Downloadable!]

2004

1. Nicodano, Giovanna & Sembenelli, Alessandro, 2004. "Private benefits, block transaction premiums and ownership structure," International Review of Financial Analysis, Elsevier, vol. 13(2), pages 227-244. [Downloadable!] (restricted)
2. Margerita Borella, 2004. "The distributional impact of pension system reforms: an application to the Italian case," Fiscal Studies, Institute for Fiscal Studies, vol. 25(4), pages 415-437, December.
3. Guariglia, Alessandra & Rossi, Mariacristina, 2004. "Private medical insurance and saving: evidence from the British Household Panel Survey," Journal of Health Economics, Elsevier, vol. 23(4), pages 761-783, July. [Downloadable!] (restricted)

2003

1. Furio Camillo Rosati & Mariacristina Rossi, 2003. "Children's Working Hours and School Enrollment: Evidence from Pakistan and Nicaragua," World Bank Economic Review, Oxford University Press, vol. 17(2), pages 283-295, December.

2002

1. Roberto ARTONI & Elsa FORNERO & Sandro GRONCHI & Giuseppe VITALETTI, 2002. "Sistema previdenziale italiano, Forum della SIE (a cura di Giuseppe Bognetti)," Rivista Italiana degli Economisti, SIE - Societa' Italiana degli Economisti (I), vol. 2(4), pages 249, August. [Downloadable!] (restricted)

2001

1. Sudipto Bhattacharya, 2001. "Insider Trading, Investment, and Liquidity: A Welfare Analysis," Journal of Finance, American Finance Association, vol. 56(3), pages 1141-1156, 06. [Downloadable!] (restricted)

1999

1. Onorato Castellino & Elsa Fornero, 1999. "From PAYG to Funding in Italy: A Feasible Transition?," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan Journals, vol. 24(4), pages 473-487, October. [Downloadable!] (restricted)

1998

1. Nicodano, Giovanna, 1998. "Corporate groups, dual-class shares and the value of voting rights," Journal of Banking & Finance, Elsevier, vol. 22(9), pages 1117-1137, September. [Downloadable!] (restricted)

1996

1. Elsa FORNERO, 1996. "I fondi pensione. Rendimenti comparati e scelte previdenziali," Rivista Italiana degli Economisti, SIE - Societa' Italiana degli Economisti (I), vol. 3(4), December.

1995

1. Fornero, Elsa, 1995. "Totally unfunded vs. partially funded pension systems: the case of Italy," Ricerche Economiche, Elsevier, vol. 49(4), pages 357-374, December. [Downloadable!] (restricted)

Chapters

2004

1. Axel Börsch-Supan & Reinhold Schnabel & Simone Kohnz & Giovanni Mastrobuoni, 2004. "Micro-Modeling of Retirement Decisions in Germany," NBER Chapters, in: Social Security Programs and Retirement around the World: Micro-Estimation, pages 285-344 National Bureau of Economic Research, Inc. [Downloadable!]

This page was last updated on 2009-11-1.