Research papers

Link to RePEc page

Journal publications

  1. Determinants of Sovereign Bond Yield Spreads in the EMU. An Optimal Currency Area Perspective (with Mauro Costantini and Matteo Fragetta), 2014, European Economic Review70, 337–349. [Article] [WP version]

  2. A Fiscal Stimulus and Jobless Recovery (with Cristiano Cantore and Paul Levine), 2014, The Scandinavian Journal of Economics, 116(3), 669-701. [Article] [Online appendix] [IMF WP version]

  3. Fiscal Policy and Lending Relationships (with Stefania Villa), 2014, Economic Inquiry52(2), 696-712. [Article] [Online appendix] [IMF WP version]

  4. Identification of Monetary Policy in SVAR Models: A Data-Oriented Perspective (with Matteo Fragetta), 2013, Empirical Economics45(2), 831-844. [Article] [WP version]

  5. A Fiscal Stimulus with Deep Habits and Optimal Monetary Policy (with Cristiano Cantore, Paul Levine and Bo Yang), 2012, Economics Letters, 117(1), 348-353. [Article] [WP version]

  6. An Empirical Investigation of US Fiscal Expenditures and Macroeconomic Outcomes (with Yunus Aksoy), 2012, Economics Letters, 114(1), 64-68. [Article] [WP version]

  7. The Effects of Fiscal Shocks in SVAR models: a Graphical Modelling Approach (with Matteo Fragetta), 2011, Scottish Journal of Political Economy, 58(4), 537-566. [Article] [WP version]

  8. US Fiscal Indicators, Inflation and Output (with Yunus Aksoy), 2011, The North American Journal of Economics and Finance, 22(3), 221-236. [Article] [WP version]

Working papers

  1. Leaning Against Windy Bank Lending (with Stefania Villa), 2014, BCAM Working Paper 1402, Birkbeck Centre for Applied Macroeconomics, University of London. [download]

  2. Deep versus superficial habit: It's all in the persistence (with Cristiano Cantore and Paul Levine), 2014, School of Economics Discussion Papers, 0714, School of Economics, University of Surrey (previously circulated as "On Habit and Utility-Enhancing Government Consumption"). [download]

  3. Debt Sustainability, Public Investment and Natural Resources in Developing Countries: the DIGNAR Model (with Susan Yang and Felipe Zanna), 2014, IMF Working Papers, 14/50, International Monetary Fund. [download]

    Country applications of the DIGNAR model at the IMF:
    Republic of Mozambique, Staff Report for the 2013 Article IV Consultation [download]
    Staff Report for the 2013 Article IV Consultation [download]
    Republic of Kazakhstan, IMF Country Report 13/291 [download]
    Republic of Congo, IMF Country Report 14/273 [download]
    MyanmarStaff Report for the 2014 Article IV Consultation [download]
    Côte d’Ivoire, Guinea, Liberia, and Sierra Leone, IMF Working Paper 15/25 [download]

  4. Optimal Fiscal and Monetary Rules in Normal and Abnormal Times (with Cristiano Cantore, Paul Levine and Joe Pearlman), 2013, School of Economics Discussion Papers, 0513, School of Economics, University of Surrey. [download] 

  5. Successful Austerity in the United States, Europe and Japan (with Nicoletta Batini and Giovanni Callegari), 2012, IMF Working Papers, 12/190, International Monetary Fund. [download]

    Media coverage:
    BBC 4 Radio, Today, Interview with Nicoletta Batini on the main findings of the paper, 24 August 2012 [download mp3]
    Economics Intelligence, 23 August [download pdf]
    The Daily Telegraph, 24 August 2012 [download pdf]
    Die Zeit, 24 August 2012 [download pdf]
    L'Unita', 24 August 2012 [download pdf]
    La Stampa, 25 August 2012 [download pdf
    Il Fatto Quotidiano, 29 August 2012 [download pdf]
    La Repubblica, 1 March 2013 [go to article]
    The Washington Post, 18 April 2013 [go to article]


IMF Book Chapters

  1. Natural Resource Wealth and Public Investment Strategy: Implications for Growth and Debt (with Yi Xiong), in Ross, D. (Editor), 2014, Mozambique Rising: Building a New Tomorrow, Washington, DC: International Monetary Fund. [IMF WP version]

    Media coverage:
    Deutsche Welle, 14 January 2014, article and telephone interview (dubbed in Portuguese) [go to article]

    Video of conference presentation: CSAE Conference 2014, Oxford University, 23 March 2014 [go to video]
  2. Public Debt Targeting. An application to the Caribbean (with Alejandro Guerson), in Gaston, G. (Editor), 2014, Managing Economic Volatility in Latin America, Washington, DC: International Monetary Fund. [IMF WP version]