CSEF - Center for Studies in Economics and Finance

Current Position: CSEF Director
Professor of Economics
University of Naples Federico II

Contact Information: Department of Economics and Statistics
Via Cintia Monte S. Angelo
80126 Napoli, Italy
Tel: +39 081 675306
Fax: +39 081 7663540
E-mail: mrpagano@tin.it

#345, Niccolò Battistini, Marco Pagano, Saverio Simonelli, Systemic Risk, Sovereign Yields and Bank Exposures in the Euro Crisis

#326, Marco Pagano, Finance: Economic Lifeblood or Toxin?

#323, Marco Di Maggio Marco Pagano, Financial Disclosure and Market Transparency with Costly Information Processing

#312, Viral Acharya Marco Pagano Paolo Volpin, Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

#310, Andrew Ellul Tullio Jappelli Marco Pagano Fausto Panunzi, Transparency, Tax Pressure and Access to Finance

#283, Marco Pagano Giovanni Pica, Finance and Employment

#241, Alessandro Beber Marco Pagano, Short-Selling Bans around the World: Evidence from the 2007-09 Crisis , Published in the Journal of Finance, 2013, vol. 68, n.1, pp. 343-381

#239, Marco Pagano Paolo Volpin, Credit Ratings Failures and Policy Options , Published in Economic Policy, 401-431, April 2010

#220, Giovanni Immordino Marco Pagano Michele Polo, Incentives to Innovate and Social Harm: Laissez-Faire, Authorization or Penalties?

#211, Alberto Bennardo Marco Pagano Salvatore Piccolo, Multiple-Bank Lending, Creditor Rights and Information Sharing

#210, Marco Pagano Paolo Volpin, Securitization, Transparency and Liquidity , Published in Review of Financial Studies, 2012, 25(8), pp. 2417-2453.

#208, Tullio Jappelli Marco Pagano Marco di Maggio, Households’ Indebtedness and Financial Fragility , Published in Journal of Financial Management, Markets and Institutions, 2013, 1, pp. 26-35

#204, Andrew Ellul Marco Pagano Fausto Panunzi, Inheritance Law and Investment in Family Firms , Published in the American Economic Review, 2010, 100(5), pp. 2414-50.

#203, Giovanni Immordino Marco Pagano, Corporate Fraud, Governance and Auditing , Published in the Review of Corporate Finance Studies, 2012, 1(1), pp. 109-133.

#197, Tullio Jappelli Marco Pagano, Financial Market Integration Under EMU , Published in The Euro. The First “Decade, edited by M. Buti, S. Deroose, V. Gaspar and J.N. Martins, Cambridge: Cambridge University Press, pp. 315-353.

#181, Carlo Favero Marco Pagano Ernst-Ludwig von Thadden, How Does Liquidity Affect Government Bond Yields? , Published in Journal of Financial and Quantitative Analysis, 2010, Vol. 45, 1, pp 107-134.

#180, Tullio Jappelli Christian Julliard Marco Pagano, Households’ Portfolio Diversification , Published in Review of Financial “Studies, 2005, Vol. 18, 4, pp. 1467-1502.

#178, Martin Brown, Tullio Jappelli Marco Pagano, Information Sharing and Credit: Firm-Level Evidence from Transition Countries , Published in Journal of Financial Intermediation, 2009, Vol. 18, 2, pp. 151–172.

#163, Giovanni Immordino, Marco Pagano, Michele Polo, Norm Flexibility and Private Initiative

#149, Marco Pagano, Paolo Volpin, Shareholder Protection, Stock Market Development, and Politics , Published in the Journal of the European Economic Association, 2006, vol. 4, pp. 315-41

#142, Francesco Giavazzi, Tullio Jappelli, Marco Pagano, Marina Benedetti, Searching for Non-Monotonic Effects of Fiscal Policy: New Evidence , Published in Monetary and Economic Studies, 2005, vol. 23, S1

#139, Marco Pagano, The Modigliani-Miller Theorems: A Cornerstone of Finance , Published in BNL Quarterly Review, 2005, vol. 58, pp. 237-47

#135, Tullio Jappelli Marco Pagano, Role and Effects of Credit Information Sharing , Published in The Economics of Consumer Credit: European Experience and Lessons from the US, G. Bertola, R. Disney, and C. Grant (eds), Cambridge: The MIT Press, 2006.

#133, Giovanni Immordino Marco Pagano, Optimal Regulation of Auditing , Published in CESifo Economic Studies, 2007, Vol. 53, 3, pp. 363–388

#129, Michael Halling, Marco Pagano, Otto Randl, Josef Zechner, Where is the Market? Evidence from Cross-Listings in the U.S. , Published in Review of Financial Studies, 2008, vol. 21(2), pages 725-761

#126, Marco Pagano Ernst-Ludwig von Thadden , The European Bond Markets under EMU , Published in Oxford Review of Economic Policy, 2004, vol. 20, pages 531-54. Reprinted in Handbook of European Financial Markets and Institutions, edited by X. Freixas, P. Hartmann and C. Mayer, Oxford University Press, New York, 2008.

#118, Luigi Guiso Tullio Jappelli Mario Padula Marco Pagano, Financial Market Integration and Economic Growth in the EU

#99, Andrew Ellul Marco Pagano, IPO underpricing and after-market liquidity , Published in Review of Financial Studies, 2006, vol. 19, pp. 381-421

#98, Giovanni Immordino Marco Pagano, Legal Standards, Enforcement and Corruption , Published in Journal of the European Economic Association, 2010, Vol. 8, 5, pp. 1104–1132.

#76, Marco Pagano Paolo Volpin, The Political Economy of Finance , Published in Oxford Review of Economic Policy, 2001, Vol. 17, No. 4, pp. 502-519

#75, Marco Pagano Paolo Volpin , Managers, Workers, and Corporate Control , Published in The Journal of Finance, 2005, Vol. 60, No. 2, pp. 841-868

Winner of the 2005 Egon Zehnder International Prize for the best paper in the ECGI Finance Working Paper series, and nominated for the 2005 Brattle Prize.

#58, Magda Bianco, Tullio Jappelli Marco Pagano , Courts and Banks: Effects of Judicial Enforcement on Credit Markets , Published in The Journal of Money, Credit, and Banking, 2005, vol. 37, 2, pp. 223-244

#50, Marco Pagano, Otto Randl, Ailsa A. Röell Josef Zechner, What Makes Stock Exchanges Succeed? Evidence from Cross-Listing Decisions , Published in European Economic Review, 2001, vol. 45, pp. 770-82

#36, Tullio Jappelli Marco Pagano , Information Sharing in Credit Markets: A Survey , Published in The Economics of Consumer Credit: European Experience and Lessons from the U.S, edited by G. Bertola, R. Disney, and C. Grant. Cambridge: The MIT Press, July 2006

#35, Tullio Jappelli Marco Pagano , Information Sharing in Credit Markets: The European Experience , Published in Credit Reporting Systems and the International Economy, edited by M. Miller. Cambridge: MIT Press, 2003

#29, Marco Pagano Paolo Volpin , The Political Economy of Corporate Governance , Published in The American Economic Review, 2005, Vol. 95, No. 4, pp. 1005-1030

#28, Marco Pagano, Ailsa A. Röell Joseph Zechner, The Geography of Equity Listing; Why Do Companies List Abroad? , Published in Journal of Finance, 2002, Vol. 57, No. 6, pp. 2651-2694

#25, Marco Pagano Davide Lombardo, Law and Equity Markets: a Simple Model , Published in Corporate Governance Regimes: Convergence and Diversity, J. McCahery, P. Moerland, T. Raaijmakers and L. Renneboog eds. Oxford University Press, 2002

#24, Marco Pagano Davide Lombardo, Legal Determinants of the Return on Equity , Published in Corporate and Institutional Transparency for Economic Growth in Europe, L. Oxelheim ed. Elsevier, 2006

#22, Tullio Jappelli Marco Pagano, Information Sharing, Lending and Defaults: Cross-Country Evidence , Published in Journal of Banking and Finance, 2002, vol. 26, 10, pp. 2023-2054

#21, A. Jorge Padilla Marco Pagano, Sharing Default Information as a Borrower Discipline Device , Published in European Economic Review, 2000, vol. 44, pp. 1951-80

#16, Francesco Giavazzi, Tullio Jappelli Marco Pagano , Searching for Non-Keynesian Effects of Fiscal Policy , Published in European Economic Review, 2000, vol. 44, pp. 1259-1290

#13, Tullio Jappelli Marco Pagano , The Welfare Effects of Liquidity Constraints , Published in Oxford Economic Papers, 1999, vol. 51, pp. 410-430

#10, Michael Manove, A. Jorge Padilla, Marco Pagano , Collateral vs. Project Screening: A Model of Lazy Banks , Published in RAND Journal of Economics, 2001, Vol. 32, No. 4, Winter.

#4, Marco Pagano , The Changing Microstructure of European Equity Markets , Published in European Securities Markets: the Investment Services Directive and Beyond, edited by Guido Ferrarini. Kluwer Law International, 1998

#1, Tullio Jappelli Marco Pagano , The Determinants of Savings: Lessons from Italy , Published in Accounting for Saving: Financial Liberalization, Capital Flows and Growth in Latin America and Europe, C. Reinhart (ed.), Washington: Inter-American Development Bank, 1999

#unpublished manuscript, January 2012, Marco Pagano with Marco Di Maggio, Financial Disclosure with Costly Information Processing editors, rivista, Vol. No. pp,

#CSEF Working Paper no. 211, December 2008, and CEPR Discussion Paper No. 7105, February 2009, Marco Pagano with Alberto Bennardo and Salvatore Piccolo, Multiple-Bank Lending, Creditor Rights and Information Sharing , CEPR Discussion Paper No. 7105