Publications
Do Tax Hikes Tame Inflation?, 2023,
AEA Papers and Proceedings, forthcoming, with James Cloyne, Joseba Martinez and Haroon MumtazMonetary Policy, Corporate Finance and Investment, 2023, revised version of NBER WP No. 25366,
Journal of the European Economic Association, forthcoming, with J. Cloyne, C. Ferreira and M. Froemel.Employment and the Collateral Channel of Monetary Policy, 2022, revised version of Bank of England WP No. 827,
Journal of Monetary Economics 131, pp. 26-44, with Saleem Bahaj, Angus Foulis and Gabor Pinter.Capital and Income Inequality: an Aggregate-Demand Complementarity, 2022,
Journal of Monetary Economics 126, pp. 154-169, with Florin Bilbiie and Diego Känzig.The Distributional Impact of the Pandemic, 2021,
European Economic Review 134, with Sinem Haçioglu-Hoke and Diego Känzig.Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism, 2020,
The Review of Economic Studies 87, pp. 102-129, with James Cloyne and Clodomiro Ferreira.Regional Transfer Multipliers, 2019
The Review of Economic Studies 86, pp. 1901-1934, with Raphael Corbi and Elias PapaioannouConsumer Spending and Property Taxes, 2019,
Journal of the European Economic Association 17, pp. 606-649, with Riccardo Trezzi.The Consumption Response to Positive and Negative Income Shocks, 2018,
Journal of Monetary Economics 98, pp. 1-25, with P. Bunn, J. Le Roux and K. Reinold.Policy Uncertainty and Aggregate Fluctuations, 2018
Journal of Applied Econometrics 33, pp. 319-331, with Haroon Mumtaz.Household Debt and the Dynamic Effects of Income Tax Changes, 2017
The Review of Economic Studies 84, pp. 45-81, with James Cloyne.International Fiscal Spillovers, 2016
Journal of International Economics 99, pp. 31-45, with Renato Faccini and Haroon Mumtaz.The Transmission Mechanism in Good and Bad Times, 2015,
International Economic Review 56, pp. 1237-60, with Haroon Mumtaz.Unemployment and Productivity in the Long-Run: the Role of Macroeconomic Volatility, 2015,
The Review of Economics and Statistics 97, pp. 698-709, with Pierpaolo Benigno and Luca Ricci.Price-Level Uncertainty and Instability in the United Kingdom, 2015,
Journal of Economic Dynamics & Control 52, pp. 1-16, with Tim Cogley and Tom Sargent.Consumption, Income Changes and Heterogeneity: Evidence from Two Fiscal Stimulus Programmes, 2014,
American Economic Journal: Macroeconomics 6, pp. 84-106, with Kanishka Misra.The Incidence of Transaction Taxes: Evidence from a Stamp Duty Holiday, 2014
Journal of Public Economics 119, pp. 61-70, with Tim Besley and Neil Meads.Bank Lending and Monetary Transmission in the Euro Area, 2013,
Economic Policy 28, pp. 423–457, with Roberto De Santis.Risk Heterogeneity and Credit Supply: Evidence from the Mortgage Market, 2012,
NBER Macroeconomics Annual vol. 27, pp. 375-419, with Tim Besley and Neil Meads.A Century of Inflation Forecasts, 2012,
The Review of Economics and Statistics 94, pp. 1097-1106, with Antonello D'Agostino.Evolving International Inflation Dynamics: World and Country-Specific Factors, 2012,
Journal of European Economic Association 10, pp. 716–734, with Haroon Mumtaz.Two Illustrations of The Quantity Theory of Money: Breakdowns and Revivals, 2011,
The American Economic Review 101, pp. 113-132, with Tom Sargent.International Comovements, Business Cycle and Inflaton: An Historical Perspective, 2011,
Review of Economic Dynamics 14, pp. 176-198, with Haroon Mumtaz and Saverio Simonelli.Monetary Policy, Inflation Expectations and the Price Puzzle, 2010,
The Economic Journal 549, pp. 1262-1283, with Efrem Castlenuovo.The Lucas Critique and the Stability of Empirical Models, 2010,
Journal of Applied Econometrics 25, pages 177-194, with Thomas Lubik.The Great Moderation of the Term Structure of UK Interest Rates, 2009,
Journal of Monetary Economics 56, pp. 856-71, with Francesco Bianchi and Haroon Mumtaz.VAR Analysis and the Great Moderation, 2009,
The American Economic Review 99, pp. 1636-52, with Luca Benati.The Transmission of International Shocks: A Factor-Augmented VAR Approach, 2009,
Journal of Money, Credit & Banking 41, pp. 71-100, with Haroon Mumtaz.Time-varying Yield Curve Dynamics and Monetary Policy, 2009,
Journal of Applied Econometrics 24, pp. 895-913, with Haroon Mumtaz.Insiders versus Outsiders in Monetary Policy Making, 2008,
AEA Papers and Proceedings 98, pp. 218-23, with Tim Besley and Neil Meads.Does Global Liquidity Help to Forecast US Inflation?, 2009,
Journal of Money, Credit & Banking 41, pp. 479-89, with Antonello D'Agostino.Evolving US Monetary Policy and the Decline of Inflation Predictability, 2008,
Journal of the European Economic Association 6, pp.634-46, with Luca Benati.The Cost Channel of Monetary Policy and Indeterminacy, 2008,
Macroeconomic Dynamics 12, pp. 724-35.Measuring the Time-Inconsistency of US Monetary Policy, 2008,
Economica 75, pp. 22-35.The Fed's Monetary Policy Rule and US Inflation: the Case of Asymmetric Preferences, 2007,
Journal of Economic Dynamics & Control 31, pp. 305-24.The Monetary Policy of the European Central Bank, 2007,
The Scandinavian Journal of Economics 109, pp. 105-35.Model Uncertainty, Optimal Monetary Policy and the Preferences of the Fed, 2004,
Scottish Journal of Political Economy 51, pp. 105-26, with Efrem Castelnuovo.Asymmetric Reaction Functions for the Euro Area, 2003,
Oxford Review of Economic Policy 19, pp. 44-57.Geographical Concentration and Increasing Returns, 2003,
Journal of Economic Surveys 17, pp. 693-708.What does Monetary Policy Reveal about Central Banks' Preferences, 2003,
Economic Notes 32, pp. 335-59, with Efrem Castelnuovo.The Agglomeration Dilemma: Should I Stay or Should I Go?, 2003,
Growth and Change 34, pp. 261-75.