Affiliation: | 1. Bank for International Settlements, Representative Office for Asia and the Pacific, 78th Floor, Two IFC, 8 Finance Street, Central, Hong Kong;2. Hitotsubashi University, 2-1 Naka, Kunitachi-shi, Tokyo, 186-8603 Japan;1. Department of Finance, Bocconi University, Via Rontgen 1, 20100 Milan, Italy;2. SDA, Bocconi University, Italy;3. Luiss University, Italy;4. Intesa Sanpaolo, Italy |