RESEARCH

ORCID | Scopus | CitEc | SSRN | IDEAS

My research centers on the interplay between asset markets and macroeconomic activity, the dynamic effects of uncertainty for business cycle fluctuations, economic policies and sustainable development.

SELECTED PUBLISHED WORK

2024. Government debt and economic growth: heterogeneity, asymmetries, and the role of net debt (with G. Carvelli). Applied Economics, https://doi.org/10.1080/00036846.2024.2392052

2022. Waste-to-Energy and recycling: The role of plant ownership and waste mobility (joint with L. and R. Levaggi and C. Marchiori). Waste Management, Volume 141, 15 March 2022, 35-51; https://doi.org/10.1016/j.wasman.2022.01.020

2020. Waste-to-Energy in the EU: The Effects of Plant Ownership, Waste Mobility, and Decentralization on Environmental Outcomes and Welfare (joint with L. and R. Levaggi and C. Marchiori). Sustainability (MDPI), 12(14), 5743; https://doi.org/10.3390/su12145743.

2019. International Equity Markets Interdependence: Bigger Shocks or Contagion in the 21st Century? (joint with G. Bua). Review of World Economics, 155(1), 43-69.

2018. Decentralisation and Waste Flows: A Welfare Approach (joint with L. & R. Levaggi). Journal of Environmental Management, 217C, 969-979.

2018. Cross-Country Evidence on the Distributional Impact of Fiscal Policy (joint with S. Salotti). Applied Economics, 50, 5521-5542.

2016. The impact of government debt, expenditure and taxes on aggregate investment and productivity growth (joint with S. Salotti). Economica, 83(330), 356–384.

2014. Multifactor Risk Loadings and Abnormal Returns under Uncertainty and Learning (joint with S. Salotti). Quarterly Review of Economics and Finance, 54(3), 393-404.

2014. How do Alphas and Betas Move? Uncertainty, Learning and Time Variation in Risk Loadings. Oxford Bulletin of Economics and Statistics, 76(2), 208–232.

2012. Macroeconomic Instability and the Phillips Curve in Italy (with A. Del Boca, M. Fratianni and F. Spinelli). Economia Politica - Journal of Analytical and Institutional Economics, 2012(1).

2010. Monetary Policy Regime Shifts: New Evidence from Time-Varying Policy Rules (with M. Vassalli). Economic Inquiry, 48(4).

2010. The Phillips curve and the Italian Lira: 1861-1998 (with A. Del Boca, M. Fratianni and F. Spinelli). North American Journal of Economics and Finance, 21(2).

2008. The lira's purchasing power from Italy's unification to the single European currency (with F. Spinelli). The Journal of European Economic History, 37 (2-3).

2007. Macroeconomic Shocks, Structural Change and Real Exchange Rates: Evidence from Historical Data (with A. Muscatelli and F. Spinelli). Journal of International Money and Finance, 26.

2006. Maastricht: New and Old Rules (with F. Spinelli). Open Economies Review, 17.

2004. Fiscal and Monetary Policy Interactions: Empirical Evidence and Optimal Policy using a Structural New Keynesian Model. (with A. Muscatelli and P. Tirelli). Journal of Macroeconomics, Volume 26, Issue 2, June.

2004. Monetary and Fiscal Policy Interactions over the Cycle: Some Empirical Evidence (with A. Muscatelli and P. Tirelli). In R. Beetsma, C. Favero, A. Missale, V.A. Muscatelli, P. Natale and P. Tirelli (eds.), Monetary Policies, Fiscal Policies, and Labour Markets. Macroeconomic Policymaking in the EMU. Cambridge University Press, Cambridge, United Kingdom.

2003. Monetary Policy on the Road to EMU: the Dominance of External Constraints on Domestic Objectives (with A. Muscatelli and P. Tirelli). Annales d'Economie et de Statistique, vol.67-68, ADRES, INSEE, Paris.

2002. Central bank goals, institutional change and monetary policy: Evidence from the United States and United Kingdom. (with A. Muscatelli), in L. Mahadeva, P. Sinclair and G. Stern (eds.), Monetary Transmission in Diverse Economies. Cambridge University Press.

2002. Does institutional change really matter? Inflation targets, central bank reform and interest rate policy in the OECD countries (with A. Muscatelli and P. Tirelli). The Manchester School, vol. 70 (4).

2002. The Information Content of M3 for Future Inflation in the Euro Area (with J.L. Vega). Review of World Economics (Weltwirtschaftliches Archiv), vol. 138(1), 2002. Previously circulated as European Central Bank Working Paper #33.

2000. Monetary Policy Rules, Policy Preferences, and Uncertainty: Recent Empirical Evidence (with A. Muscatelli). Journal of Economic Surveys, vol. 14:5, pp. 597-627.

OTHER PUBLICATIONS

2012, PMI Bresciane e Mercati Esteri. Edizioni Brescia Export.
2012, Quantitative Essays in Italian Monetary History (with A. Muscatelli, M. Fratianni and F. Spinelli). Franco Angeli, Milan.
2010, Brescia 1687: a déjà-vu of Islamic finance? (with F. Spinelli). Forthcoming, Journal of European Economic History.
2008, Norme antiusura, prestiti e tassi d'interesse a Brescia, 1425-1789 (with G. Belotti and F. Spinelli). In F. Spinelli and C. Trecroci (eds.), Saggi di Storia Monetaria, Franco Angeli, Milano.
2006, Come Cambia la Politica Monetaria: Una Proposta di Analisi. In B. Cavalletti, A. Fossati (eds.), Temi di Finanza Pubblica. Analisi di Politiche per lo Sviluppo dell'Economia. Franco Angeli, Milan.
2005, Business Cycles, Macroeconomic Policies, and Capital Markets. Franco Angeli, Milan.
2004, Le determinanti del tasso di sconto in Italia negli anni 1876-1913: un'analisi empirica e documentale (with F. Spinelli). Economia Italiana, n. 2, 2004. Also published in English in Review of Economic Conditions in Italy, N°3.
2004, Investimenti socialmente responsabili, sviluppo sostenibile e economia di mercato. In AA.VV., Lavoro e Legame Sociale, Franco Angeli, Milano.
2004, Introduzione alla problematica del cambio della lira italiana: 1861-1998 (with A. Muscatelli and F. Spinelli). Mimeo, Università di Brescia, april 2001. Forthcoming in L. Paganetto (a cura di), Una Governance per l'Italia in Europa. Il Mulino-CEIS.
2003, Do macroeconomic policies matter for the euro? Some empirical evidence on monetary and fiscal policy interactions over the cycle. In A. Santagostino (ed.), Europe: Reunification, Enlargement, Single Currency. Edizioni CLUB, Brescia.
2003, Deficit di Bilancio, Ciclo Economico e Politiche Monetarie in Alcuni Paesi OCSE e Aliquote Medie Effettive nei Paesi OCSE (con Paolo M. Panteghini). In Bonzani, E., R. Levaggi, P.M. Panteghini (eds.), Tematiche di Fiscalità Internazionale. Franco Angeli.
2002, Le tendenze dell'offerta e della domanda di lavoro (con G. Amisano). In E. Marelli e G. Tosini (a cura di), Trasformazioni e Tendenze del Mercato del Lavoro in Provincia di Brescia. Quaderni di Brescia & Impresa, #4.
2001, What Did Monetary Policy Do? Rules, Uncertainty and Structural Change in Actual Interest-Rate Policies. Gruppo Editoriale Delfo, Brescia.
2000, The impact of economic and monetary union on cohesion (with A. Muscatelli). European Commission, Regional Development Studies #35. Brussels.