Research
Academic Publications
A Fiscal Theory of Persistent Inflation, 2023, Quarterly Journal of Economics, accepted, with Francesco Bianchi and Leonardo Melosi.
Dissecting Climate Risks: Are They Priced in the US Stock Market?, 2023, Journal of Banking and Finance, accepted. Click here for a non-technical analysis or for the updated data of the estimated climate factors. You can also watch a webinar here.
Job-to-Job Mobility and Inflation 2023, with Leonardo Melosi, Review of Economics and Statistics, accepted.
The Importance of Hiring Frictions in Business Cycles, 2022, Quantitative Economics, July, Vol.13, pp.1101-1143, with Eran Yashiv.
Pigouvian Cycles, 2022, American Economic Journal: Macroeconomics, Vol.14 No.2, pp.281-318, joint with Leonardo Melosi.
News Uncertainty in Brexit United Kingdom, 2021, American Economic Review: Insights, Vol.3 No.2, pp.149-64, joint with Edoardo Palombo
A New Predictor of Real Economic Activity: the S&P500 Option Implied Risk Aversion, 2019, Management Science, Vol.65(9), pp.4927-4949.
Paper nominated for the EFMA 2017 Conference Best Paper Award on Global Association of Risk Professionals (GARP) Risk Management. Joint with E.Kostantinidi, G.Skyadopoulos, and S.Sarantopoulou Chiourea.
Media coverage: Forbes; Wall Street Journal; Market watch (Dow Jones); Morningstar
International fiscal spillovers, 2016, Journal of International Economics, Vol.99, pp.31-45, March, with Haroon Mumtaz and Paolo Surico.
Reassessing labour market reforms: temporary contracts as a screening device, 2014, Economic Journal, Volume 124, Issue 575, pp.167-200, March.
Wage rigidities in an estimated model of the UK labour market, 2013, The Manchester School, Volume 81, Issue S1, pp. 66-99, with Stephen Millard and Francesco Zanetti.
Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies, 2012, Journal of Economic Dynamics and Control, 36(2), pp. 183-200, with Federico Di Pace.
Labor market volatility in the search and matching model: the role of investment-specific technology shocks, 2010, Journal of Economic Dynamics and Control, 34 (8), pp. 1509-1527, with Salvador Ortigueira.
Policy Publications
Looking Beyond the Impact of Energy Prices: What Drives Trend Inflation in Denmark, 2022, with P. Borgensgaard.
The Effects of the Great Resignation on Labor Market Slack and Inflation, 2022, Chicago Fed Letter, with L. Melosi and R. Miles.
Media Coverage: Reuters, US News
Are Climate Change Risks Priced in the U.S. Stock Market? , 2021, with R. Matin, Danmarks Nationalbank Analysis.
Changes in output, employment and wages during recessions in the United Kingdom, 2010 Bank of England Quarterly Bullettin.
Work in progress
The Response of Danish Households to Negative Interest Rates, with Christian Hoeck and Mariassunta Giannetti, draft coming soon.
Financial Frictions: Micro vs Macro Volatility, with Seungcheol Lee, Ralph Luettike, Morten Ravn and Tobias Renkin.
Income Risk, Asset Prices and Labor Market Cyclicality, 2018, with Pontus Rendahl.
Working papers
Unemployment volatility and labour market institutions: evidence from OECD countries, 2011 with Chiara Rosazza-Bondibene
Unemployment and within-group wage inequality: can information explain the trade-off?, 2007, EUI WP 2007/14.
Discussions
Changing Business Cycles: the Role of Women's Employment, 2019 by Stefania Albanesi
Aging and deflation: Japanese experience, 2015, by Shigeru Fujita and Ippei Fujiwara.
Aggregation and labor supply elasticities, 2014, by Alois Kneip, Monika Merz and Lidia Storjohann.
The determinants of the cycles and trends in U.S. unemployment, 2012 by Regis Barnichon and Andrew Figura.