Welcome to my webpage!

I'm an Associate Professor at Esade Business School.
My research covers topics in the fields of macroeconomics, fiscal policy, and credit frictions.

WORKING PAPERS
Public Investment in a Production Network: Aggregate and Sectoral Implications
Cond. Accepted, Review of Economics and Statistics - Supplementary Material - with Alessandro Peri and Iacopo Varotto

The Calm Before the Storm: Time Varying Volatility and the Origins of Financial Crises
R&R, Journal of International Economics - Supplementary Material

Minimum Wages and Insurance within the Firm
R&R, Journal of Labor Economics  - with Efi Adamopoulou, Francesco Manaresi, and Emircan Yurdagul

Demographics and Emissions: The Life Cycle of Consumption Carbon Intensity
R&R, Oxford Bulletin of Economics and Statistics - with Henrique S. Basso and Richard Jaimes

Inequality and the Zero Lower Bound
R&R, Journal of Econometrics - with Jesús Fernández-Villaverde, Joël Marbet, and Galo Nuño

The Sectoral Origins of the Spending Multiplier
with Hafedh Bouakez and Emiliano Santoro 

Robot Adoption and Inflation Dynamics
with Henrique S. Basso

Bank Municipal Bond Holdings and Mortgage Lending Standards
with Vahid Saadi

When Are Technology Improvements Inflationary? - coming soon
with Hafedh Bouakez and Christian Höynck

PUBLICATIONS

Bank Regulatory Capital Arbitrage: Evidence from Housing OverAppraisals
Management Science, forthcoming - with Sergio Mayordomo and María Rodríguez Moreno

The Government Spending Multiplier in a Multi-Sector Model
American Economic Journal: Macroeconomics,  2023, 15(1), 209-39 - with Hafedh Bouakez and Emiliano Santoro

The China Syndrome Affects Banks: The Credit Supply Channel of Foreign Import Competition
Journal of Financial and Quantitative Analysis, 2022, 57(8), 3114-44 - with Sergio Mayordomo

The Changing Structure of Government Consumption Spending
International Economic Review, 2022, 63(3), 1293-323 - with Alessio Moro 

The Young, the Old, and the Government: Demographics and Fiscal Multipliers
American Economic Journal: Macroeconomics, 2021, 13(4), 110-41 - Supplementary Material - with Henrique S. Basso

Financial Development, Default Rates, and Credit Spreads
Economic Journal, 2020, 130(626), 534-54 - Supplementary Material - with Alessandro Peri

Services Deepening and the Transmission of Monetary Policy
Journal of the European Economic Association, 2019, 17(4), 1261-93 - Supplementary Material - with Alessandro Galesi

Portfolio Rebalancing and Asset Pricing with Heterogeneous Inattention
International Economic Review, 2018, 58(2), 699-726 - Supplementary Material

True vs. Spurious Long Memory. Some Theoretical Results and a Monte Carlo Comparison  
Econometric Reviews, 2015, 34(4), 452-79 -  with Arturo Leccadito and Giovanni Urga

POLICY PAPERS

Climate Change and Monetary Policy in the Euro Area
Work Stream on Climate Change - ECB Strategy Review - Occasional Paper Series, 271, European Central Bank

Structural Transformation in the Spanish Economy
Documentos Ocasionales, 2003, Banco de España