Publications in academic journals

• "The gravity of Offshore Financial Centers: Estimating real FDIs using a binary choice model" (2024) with Marco Albori, Alessio Anzuini, Luca Rossi, International Economics. [Bank of Italy WP version] 

• "The invasion of Ukraine and the energy crisis: comparative advantages in equity valuations" (2023) with Andrea Gazzani, Finance Research Letters. [Bank of Italy WP version] [VoxEU coverage]

• "Macroeconomic News, the Financial Cycle and the Commodity Cycle: the Chinese Footprint" (2023) with Flavia Corneli, Andrea Gazzani, Economics Letters. [Bank of Italy WP version] [SUERF coverage] 

• "The impact of the war in Ukraine on energy prices: Consequences for firms’ financial performance" (2023) with  Andrea Gazzani, International Economics. [VoxEU coverage] [SUERF coverage] [Bank of Italy WP version]

• "The importance of labels for sustainable investments: SFDR versus Morningstar globes" (2023), Applied economics letters, [Morningstar coverage]

• "Issuing bonds during the Covid-19 pandemic: was there an ESG premium?" (2023), International Review of Financial Analysis. [Bank of Italy WP version] [SUERF coverage]

• "Benchmark Effects from the Inclusion of Chinese A-shares in the MSCI EM index" with Stefano Antonelli, Flavia Corneli and Andrea Gazzani, Economics Letters. An [extract] of this work has been published in the BIS-CGFS report "Changing patterns of capital flows" (2021). [Bank of Italy WP version] [Morningstar coverage]

• "Financial conditions indexes for emerging market economies: can Google help?" (2022) with Andrea Gazzani, Economics Letters, [Bank of Italy WP version]  [Wired coverage]

• "Hedging and investment trade-offs in the U.S. oil industry" (2022) with Giovanni Veronese, Energy economics.

• "From Taper Tantrum to Covid-19: portfolio flows to emerging markets in periods of stress" (2021), Journal of International Financial Markets, Institutions & Money. [Morningstar coverage] 

• "ESG risk in times of COVID-19" (2021) with Filippo Natoli, Applied economics letters. [Morningstar coverage]

• "The Dynamics of Price Jumps in the Stock Market: An Empirical Study on Europe and U.S." (2020) with Patrick Zoi, European Journal of Finance. 

• "More distance, more remittance? Remitting behavior, travel costs and the size of the informal channel" (2019) with Giacomo Oddo, Economic Notes.

• "Traders and Time: who moves the market?" (2015), Studies in Economics and Finance.

• "Estimating and testing non-affine option pricing models with a large unbalanced panel of options" (2012) with Sergio Pastorello, Econometrics Journal. This paper has been awarded with the Denis Sargan Econometrics Prize in 2012. 

Policy papers

• "An early warning system for less significant Italian banks" (2019), Bank of Italy Occasional Papers, with Wanda Cornacchia, Paolo Farroni, Eliana Ferrara, Francesco Guarino, Francesco Pisanti. 

• "Risk premium in the era of shale oil" with Filippo Natoli, Giovanni Veronese, Federica Zeni, Bank of Italy Working Papers. This paper has been awarded with the 2019 SWFA Best Paper in Investments Track.