Research

Working in Progress

• "Treatment Response with Heterogeneous Monotonic Interactions", with T. Arduini

Working Papers

• "Pay Me Enough and I Will Pay Attention: Currency Demand at Zero Interest Rates" [old version SUERF blog page]

• "Connecting the Dots: The Network Nature of Shocks Propagation in Credit Markets", with S. Pietrosanti 

Pubblications in peer reviewed journals

• "The Role of Banks' Technology Adoption in Credit Markets during the Pandemic" (with N. Branzoli and I. Supino) , Journal of Financial Stability, 2024, 71  [VOX blog page]

• "Reservation Rates in Interbank Money Markets",  Journal of Money, Credit and Banking, 2023

• "Real-time Identification and High Frequency Analysis of Deposits Outflows", Journal of Financial Econometrics, 2023

• "Tax Evasion Policies and the Demand for Cash", Journal of Macroeconomics, 2023, 76 

• "Endogenous Social Interactions with Unobserved Networks", The Review of Economic Studies, 2022, 89(4), 1694–1747, with M. Battaglini and E. Patacchini

• "Treatment Effects with Heterogeneous Externalities", Journal of Business & Economic Statistics, 2020, 38, 826-838, with E. Patacchini and T. Arduini

• "Estimating spillover effects with Bilateral Outcomes", Advances in Econometrics, 2020, 42, 293-314

• "The Network Nature of Over-the-counter Interest Rates", Journal of Financial Markets, 2020, 47, 100525

• "Identification and Estimation of Network models with Heterogeneous Interactions", Advances in Econometrics, 2020, 42, 3-25, with E. Patacchini and T. Arduini

• "Estimating Money Market Micro-structure with Negative and Zero Interest Rates", Quantitative Finance, 2020, 20, 207-234, with F. Vacirca [code]

• "A Social Network Model with Sampled Data", The Econometrics Journal, 2017, 20(3), S103–S125 with E. Patacchini and X. Liu

• "Social Ties and the Demand for Financial Services",  Journal of Financial Services Research, 2017, 52, 35-88, with E. Patacchini

• "Heterogeneous Peer Effects in Education", Journal of Economic Behavior and Organization, 2017, 134, 190-227, with E. Patacchini and Y. Zenou

Chapters

• "Price Transmission in the Unsecured Money Market"  IFC bulletins chapters, 2015, in: Bank for International Settlements (ed.), Indicators to support monetary and financial stability analysis: data sources and statistical methodologies, volume 39 Bank for International Settlements.

• "Inequality and Network Effects", Meridiana, 2011, 71-72

Occasional Papers

• "CBDC and the Banking System"  Banca d'Italia Occasional Paper Series 829, 2023 

• "Stress-Testing of Liquidity Risk in TARGET2"  ECB Occasional Paper Series 183 2/17, 2017

Old Working Papers

• "Parametric and Semiparametric IV Estimation of Network Models with Selectivity" (with E. Patacchini and T. Arduini)

• "Identification and Estimation of Outcome Response with Heterogeneous Treatment Externalities" (with E. Patacchini and T. Arduini)

• "The Word on Banking: Social Ties, Trust, and the Adoption of Financial Products" (with E. Patacchini)