New issues in systemic risk management
| Componente | Categoria |
|---|---|
| Massimo Franchi | Componenti strutturati del gruppo di ricerca / Structured participants in the research project |
| Rita Laura D'Ecclesia | Componenti strutturati del gruppo di ricerca / Structured participants in the research project |
| Giulia Rotundo | Componenti strutturati del gruppo di ricerca / Structured participants in the research project |
| Stefano Fachin | Componenti strutturati del gruppo di ricerca / Structured participants in the research project |
| Kevyn Stefanelli | Dottorando/Assegnista/Specializzando componente non strutturato del gruppo di ricerca / PhD/Assegnista/Specializzando member non structured of the research group |
| Bernardo Maggi | Componenti strutturati del gruppo di ricerca / Structured participants in the research project |
| Paolo Giulio Franciosa | Componenti strutturati del gruppo di ricerca / Structured participants in the research project |
| Francesco Battaglia | Componenti strutturati del gruppo di ricerca / Structured participants in the research project |
| Componente | Qualifica | Struttura | Categoria |
|---|---|---|---|
| Elisa Fusco | Funzionario Statistico | SOSE, Ufficio Studi | Altro personale aggregato Sapienza o esterni, titolari di borse di studio di ricerca / Other aggregate personnel Sapienza or other institution, holders of research scholarships |
| Francesca Di Iorio | Professore Associato | Università di Napoli Federico II | Altro personale aggregato Sapienza o esterni, titolari di borse di studio di ricerca / Other aggregate personnel Sapienza or other institution, holders of research scholarships |
| Paolo Paruolo | Coordinator of the Competence Centre on Microeconomic Evaluation | Joint Research Centre of the European Commission | Altro personale aggregato Sapienza o esterni, titolari di borse di studio di ricerca / Other aggregate personnel Sapienza or other institution, holders of research scholarships |
In the last two years the European economy grew at a remarkable pace, sustained by a synchronized global expansion, low financing costs, improving private balance sheets and labour market conditions. In this context the role played by financial institutions and banking sector on one side and the demographic changing pattern on the other represent a crucial element to estimate future rate of growth of the European Economy and in particular of Italy. The research project aims at dealing with the issues of systemic risk connected with these two topics. In fact, both of them represent the major source of uncertainty for the entire community when facing the issues of Non Performing Exposures (Public and private institutions are involved) or the changing mortality pattern which impact the welfare cost.
Non Performing Exposure (NPE) of financial institutions have reached dimensions which were simply unthinkable before the 2009 financial crisis. The complex nature of the NPE components needs a specific approach for the restructuring process. The industrialisation of the NPE management, i.e. recovery process, bad loans disposals, securitization, has to be set in order to guarantee stability of the financial sector and the availability of financial resources which foster investments and economic growth.
The worldwide progressive increase in life expectancy causes a change in the structure of older population and represents a serious challenge for the sustainability of pension and healthcare systems. On a methodological level, we need to reconsider the problem of estimating and forecasting the risk of mortality (i.e. mortality rates). We aim to explore the potential of fully general factor models using empirical structures and functional data analysis.