15:00 - 16:30
Professor Alberto Zazzaro, University of Naples Federico II
Lectures, talks and seminars
Essex Finance Centre (EFiC) Research Seminar Series
Essex Business School
Dr Anna Sarkisyan firstname.lastname@example.org
The Essex Finance Centre (EFiC) warmly invites you to join the research seminar with Professor Alberto Zazzaro from University of Naples Federico II.
In this paper we combine administrative data from the Italian national institute for social security and proprietary data from a major Italian commercial bank to analyse the impact of job protection legislation on mortgage conditions. Exogenous changes in the degree of job protection against individual dismissals of newly hired workers with open-ended contracts are identified by exploiting the 2015 Labour market reform, the so-called Jobs Act, which reduced employment protection of employees in large private firms. We find that the weaker job stability induced by the 2015 legislation change leads to a lower mortgage amount and a lower leveraging capacity, as measured by the loan-to-value ratio. Furthermore, the effect of job insecurity is mitigated by the presence of co-mortgagors while it is amplified for young and low-income households.
This seminar is free to attend.
Please contact Dr Anna Sarkisyan for detail on how to join us online.
Alberto Zazzaro is a Professor of Economics at the Department of Economics and Statistics of University of Naples Federico II, President (elected) of the Società Italiana di Economia for the three-year period 2019-2022, founding member of the MoFiR and research fellow at the CSEF and Centro Studi Luca d’Agliano.
His research interests are in banking, money, migration, remittances, industrial organization, family firms, economic growth and policy evaluation.
His research has been published in academic journals including;
Alberto Zazzaro is a member of the Editorial Board of the PSL Quarterly Review, Rivista Bancaria - Minerva Bancaria and SN - Business & Economics, and a member of the Board of Advisors and Board of Trustees of the Italian Economic Journal