PAPERS IN PROGRESS
Company payout policies: are financial firms different? (with Emmanuel Caiazzo, Leonardo Gambacorta and Hyun Song Shin) - BIS working paper no 1168 - accepted for publication at the Review of Corporate Finance Studies
Are green firms more financially constrained? The sensitivity of investment to cash flow (with Sandro Rondinella and Alberto Zazzaro) - CSEF working paper no 700
Mutual funds and climate news (with Giulio Cornelli, Leonardo Gambacorta and Koji Takahashi) - BIS Working Paper No 1243
Judicial efficiency and the default of zombie firms (with Serena Fatica and Michela Rancan) - CSEF working paper no 747
Mafia Infiltration and Ownership Dynamics in Italian Companies Amidst Covid-19 (with Roberta De Luca, Rossella Greco and Giovanni Immordino) - CSEF working paper no 750
The role of repeated interactions: evidence from the Italian Court of Cassation (with Giovanni Immordino and Matteo Vasca)
PUBLICATIONS BY FIELD
Corporate finance
Liquidity Effects of Litigation Risk: Evidence from a Legal Shock (with Min Park and Hong Zhou) - Journal of Law and Economics, 2024, vol.67 (1), pp. 103-141
Blog post on the Columbia Law School Blue Sky: link
Green firms, environmental hazards, and investment (with Sandro Rondinella and Alberto Zazzaro) - Sustainability, 2024, 16(2), 542
Relationship lending and employment decisions in firms' bad times (with Pierluigi Murro and Alberto Zazzaro) - Journal of Financial and Quantitative Analysis, 2023, vol. 58 (6), pp. 2657-2691
The COVID-19 shock and equity shortfall: Firm-level evidence from Italy (with Elena Carletti, Marco Pagano, Loriana Pelizzon and Marti G. Subrahmanyam) - The Review of Corporate Finance Studies, 2020, vol. 9 (3), pp. 534-568
RCFS paper spotlight. Featured by FAZ: link. Blog post on VoxEu.org: link
Family firms, Soft Information and Bank Lending in a Financial Crisis (with Leandro D'Aurizio and Livio Romano) - Journal of Corporate Finance, 2015, vol. 33 (3), pp. 279-292
Empirical banking
Generative Artificial Intelligence and Cybersecurity in Central Bannking (with Inaki Aldasoro, Sebastian Doerr, Leonardo Gambacorta, Sukhvir Notra and David Whyte), Journal of Financial Regulation, 2025, vol.11 (1), pp. 119-128
Featured in Central Banking: link
Low price-to-book ratios and bank dividend payout policies (with Leonardo Gambacorta and Hyun Song Shin) - Economic Policy, 2023, vol.38 (115), pp. 675-701
Deposit Insurance and Banks' Deposit Rates: Evidence from the 2009 EU policy (with Matteo Gatti) - International Journal of Central Banking, 2021, vol. 17 (2), pp. 171-206
How post-crisis regulation has affected bank CEO compensation (with Vittoria Cerasi, Sebastian M. Deininger and Leonardo Gambacorta) - Journal of International Money and Finance, 2020, vol. 104, pp. 102-153
Blog post on VoxEu.org: link
CEO Compensation, Regulation and Risk in Banks: Theory and Evidence from the Financial Crisis (with Vittoria Cerasi) - International Journal of Central Banking, 2015, vol. 11 (3), pp. 241 - 297
Economics of the household
The gen AI gender gap (with Inaki Aldasoro, Olivier Armantier, Sebastian Doerr, Leonardo Gambacorta) - Economics Letters, 2024, vol. 241, 111814
Featured by Bloomberg: link
Consumption and Income expectations during Covid-19 (with Giovanni Immordino and Tullio Jappelli) - Review of Economics of the Household, 2024, vol. 22 (1), pp. 95-116
Job protection and mortgage conditions: Evidence from Italian administrative data (with Paolo Mistrulli, Zeno Rotondi and Alberto Zazzaro) - Oxford Bulletin of Economics and Statistics, 2023, vol. 85 (6), pp. 1157-1361
Income Losses, Cash Transfers and Trust in Financial and Political Institutions: Survey Evidence from the Covid-19 Crisis (with Giovanni Immordino and Alberto Zazzaro) - The B.E. Journal of Economic Analysis and Policy, 2022, vol.22 (3), 647-654
Fear of Covid-19 Contagion and Consumption: Evidence from a survey of Italian households (with Giovanni Immordino, Tullio Jappelli and Alberto Zazzaro) - Health Economics, 2022, vol.31 (3), pp. 496-507
Financial Intermediation, House Prices and the Welfare Effects of the U.S. Great Recession (with Dominik Menno) - European Economic Review, 2020, vol. 129, 103568.
Public economics
The economic effects of immovable property taxation: a review of the Italian experience (with Edoardo Di Porto and Annalisa Tirozzi) - The Italian Journal of Public Economics and Law, 2021, n.1, pp. 25-43.
Property tax and property values: Evidence from the 2012 Italian Tax Reform (with Annalisa Scognamiglio) - European Economic Review, 2019, vol.118, pp. 227 - 251
Featured by Corriere della Sera: link
House prices and immovable property tax: evidence from OECD countries (with Agnese Sacchi, Annalisa Scognamiglio and Alberto Zazzaro) - Metroeconomica, 2019, vol. 70, pp. 776 - 792
POLICY PAPERS & BOOK CHAPTERS
Corporate default and judicial efficiency in the EU-27: Evidence from a large sample of firms (with Serena Fatica and Michela Rancan), Single Market Economics Papers WP2025/39, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (European Commission), Chief Economist Team, 2025
Survey evidence of gen AI and households: job prospects amid trust concerns (with Inaki Aldasoro, Olivier Armantier, Sebastian Doerr, Leonardo Gambacorta), BIS Bulletin 86, 2024
On the determinants of corporate default in the EU-27: Evidence from a large sample of companies (with Serena Fatica and Michela Rancan), EUR 31342 EN, Publications Office of the European Union, Luxembourg, 2022, JRC131613
Financial Accelerator Framework (with Giovanni W. Puopolo) - chapter 3 in "A Modern Guide to Financial Shocks and Crises", Elgar Modern Guides, 2021, edited by Giovanni Ferri and Vincenzo D’Apice
PUBLICATIONS IN ITALIAN
Le banche e i fondi - vol.12 di Economia per tutti, 2023, in Quaderni della Gazzetta (anno 29)
I modelli di business in Europa (with Vincenzo D'Apice, Francesco Masala and Giovanni W. Puopolo) - Bancaria, 2019, n.10, pp. 54-61
Strategie e performance delle imprese familiari negli anni della crisi (with Leandro D'Aurizio and Livio Romano) - Economia Italiana, 2014, n. 1, pp. 63-84