Research
My primary research interest lies in the fields of Macroeconomics, Public Economics, and Applied Time Series Econometrics
View my research profile on EconPapers, Google Scholar, IDEAS/RePEc, ResearchGate, SSRN
Publications in Academic Journals
The stability of tax elasticities over the business cycle in European countries (with S. d'Addona), Fiscal Studies, 2019, 40(2), 175-210 [EconPapers WP]
In a line: Tax elasticities of main tax categories (PIT, CIT, Indirect taxes, and Social contributions) tend to be larger in recession compared to boom in European countries
Effective marginal and average tax rates in the 2017 Italian tax-benefit system (with F. De Nicola and G. Mongelli), Italian Journal of Public Economics (Economia Pubblica), 2017, 3, 67-90 [EconPapers WP]
(previous version published, in Italian and English, as Documento di valutazione n. 1 of the Impact Assessment Office of the Senate of the Republic of Italy)
In a line: Italian EMTRs are extremely erratic due to taxes and benefits stratification over decades. This might discourage labour supply and encourage tax evasion
Domestic versus international determinants of European business cycles: A GVAR approach (with M. Marzo and S. Salotti), Empirical Economics, 2015, 49(2), 403-421 [EconPapers WP]
In a line: Domestic and regional factors explain most of the European countries' short-run macroeconomic variability, while international factors become predominant in the long-run
Partial credit guarantees and SMEs financing (with A. Girardi and M. Ventura), Journal of Financial Stability, 2014, 15, 182-194
In a line: Taking coverage ratio heterogeneity into account influences the estimate of the public credit guarantee effect on SMEs financing
Long- and short-run determinants of capital flows to Latin America: A long-run structural GVAR model, Empirical Economics, 2012, 43(3), 1041-1071 [EconPapers WP]
In a line: International shocks influence Latin American Net Foreign Assets (NFA) in the long run, while domestic shocks prevail in the short run. Japanese variables are the main external factors affecting Latin American NFA
Relative risk aversion and the transmission of financial crises (with A. Goenka), Journal of Economic Dynamics and Control, 2012, 36(1), 85-99 [EconPapers WP]
In a line: A model with multiple equilibria that explains international financial contagion through a change in the risk premium arising from a wealth shock
The contribution of domestic, regional and international factors to Latin America's business cycle (with A. Girardi), Economic Modelling, 2011, 28(3), 1235-1246 [EconPapers WP]
In a line: Using a GVAR approach, we show that the largest proportion of Latin American countries domestic output variability is explained by domestic and regional factors. The role of industrial countries' factors is modest
Aluminium market and the macroeconomy (with L. Pieroni), Journal of Policy Modeling, 2009, 31(2), 189-207 [EconPapers WP]
In a line: A structural model of the aluminium market shows that the real exchange rate and the real interest rate have a small effect on the aluminium price
Does one monetary policy fit all? The determinants of inflation in EMU countries (with A. Girardi), Current Politics and Economics of Europe, 2008, 19(1/2), 17-51 [EconPapers WP]
(also published as Chapter 2 in Inflation, Fiscal Policy and Central Banks, Edited by Leo N. Bartolotti, Nova Science Publishers Inc., NY, USA, 2006)
In a line: Cost-push factors have a considerable role in explaining inflation in most of the Euro area countries
Euro area inflation: Long-run determinants and short-run dynamics (with A. Girardi), Applied Financial Economics, 2007, 17(1), 9-24 [EconPapers WP]
In a line: Using a long-run structural VAR approach, we find that Euro area inflation is explained by a mixture of supply- and demand-side factors both in the long- and short-run
International financial contagion: Evidence from the Argentine crisis of 2001-2002, Applied Financial Economics, 2005, 15(3), 153-163 [EconPapers WP]
In a line: I find no evidence of financial contagion from Argentina to Brazil, Mexico, Russia, Turkey and Uruguay during the 2001-2002 financial crisis
Working Papers
The effect of property taxes on house prices: Evidence from the 1993 and 2012 reforms in Italy (with V. Bevilacqua and C. Di Falco), CAMA Working Paper n. 82/2021, 2021
Testing external habits in an asset pricing model (with S. d'Addona and A. Goenka), Discussion Paper n. 21-11, Department of Economics, University of Birmingham, 2021
(previous versions circulated as CAMA Working Paper n. 20/2012 [EconPapers WP] and CREI Working Paper n. 5/2009 [EconPapers WP])
Sovereign spreads, currency crises, and fundamentals: A non-linear analysis, unpublished manuscript, University of Essex, 2007
Other Publications
L’integrazione degli obiettivi di sostenibilità ambientale nel semestre europeo, Chapter 5 in L'attuazione delle politiche dell'Unione europea a livello regionale e locale, Edited by Fabio Raspadori, Giappichelli, March 2021
Ricostruire. L'Aquila, Pianura padana, Centro Italia: politiche e risorse per l'Italia post terremoto (with L. Iannetti and F. Tironi), Documento di analisi n. 21, Impact Assessment Office, Senate of the Republic of Italy, August 2018
I temi dell'iniziativa legislativa dei gruppi parlamentari del Senato della Repubblica nella XVII legislatura. Una prima analisi (with A. Carboni and C. Di Falco), Documento di analisi n. 20, Impact Assessment Office, Senate of the Republic of Italy, July 2018
L'incompiuta. Dalla teoria alla prassi: la valutazione degli atti normativi in Italia (with D. Zaottini), Documento di analisi n. 14, Impact Assessment Office, Senate of the Republic of Italy, April 2018
Nudging: Il contributo di Thaler alla scienza economica e alcuni riflessi dell'economia comportamentale sulla valutazione delle politiche pubbliche (with F. Lambiase), Nota breve, Esperienze n. 1, Impact Assessment Office, Senate of the Republic of Italy, January 2018
Fisco. La giungla delle aliquote effettive. Il sistema italiano di imposte e benefici per le persone e le famiglie (with F. Di Nicola and G. Mongelli), Documento di valutazione n. 1, Impact Assessment Office, Senate of the Republic of Italy, July 2017 (see above for the published version)
Here an informative summary: Fisco. La giungla delle aliquote marginali effettive. Al contribuente conviene sempre lavorare di più?, Focus, Impact Assessment Office, Senate of the Republic of Italy, July 2017
Media coverage:
Fiducia e trasparenza (Il Foglio, 22 December 2020)
Il paradosso del fisco italiano: guadagnare di più non sempre conviene (La Repubblica, 15 January 2018)
Quanto guadagnare per pagare meno tasse? Lo studio del Senato (Money.it, 8 August 2017)
Fisco alla rovescia: chi guadagna di più paga come gli altri (Il Fatto Quotidiano, 4 August 2017)
The determinants of net foreign asset positions in Latin America, Proceedings of the 4th Conference on Applied Financial Economics, Samos (Greece), July 2007