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

Inequality and the Zero Lower Bound
CONDITIONALLY ACCEPTED, JOURNAL OF ECONOMETRICS - WITH JESÚS FERNÁNDEZ VILLAVERDE, JOËL MARBET AND GALO NUÑO

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

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

Opening the Black Box: Aggregate Implications of Public Investment Composition
WITH HENRIQUE S. BASSO AND MYROSLAV PIDKUYKO

When Are Technology Improvements Inflationary?
WITH HAFEDH BOUAKEZ AND CHRISTIAN HÖYNCK

PUBLICATIONS

Public Investment in a Production Network: Aggregate and Sectoral Implications
REVIEW OF ECONOMICS AND STATISTICS, FORTHCOMING - SUPPLEMENTARY MATERIAL - WITH ALESSANDRO PERI AND IACOPO VAROTTO

Demographics and Emissions: The Life Cycle of Consumption Carbon Intensity
OXFORD BULLETIN OF ECONOMICS AND STATISTICS, FORTHCOMING - WITH HENRIQUE S. BASSO AND RICHARD JAIMES

Bank Regulatory Capital Arbitrage: Evidence from Housing OverAppraisals
MANAGEMENT SCIENCE, 2024 - WITH SERGIO MAYORDOMO AND MARÍA RODRÍGUEZ MORENO

The Government Spending Multiplier in a Multi-Sector Model
AMERICAN ECONOMIC JOURNAL: MACROECONOMICS,  2023 - 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 - WITH SERGIO MAYORDOMO

The Changing Structure of Government Consumption Spending
INTERNATIONAL ECONOMIC REVIEW, 2022 - WITH ALESSIO MORO

The Young, the Old, and the Government: Demographics and Fiscal Multipliers
AMERICAN ECONOMIC JOURNAL: MACROECONOMICS, 2021 - SUPPLEMENTARY MATERIAL - WITH HENRIQUE S. BASSO

Financial Development, Default Rates, and Credit Spreads
ECONOMIC JOURNAL, 2020 - SUPPLEMENTARY MATERIAL - WITH ALESSANDRO PERI

Services Deepening and the Transmission of Monetary Policy
JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION, 2019 - SUPPLEMENTARY MATERIAL - WITH ALESSANDRO GALESI

Portfolio Rebalancing and Asset Pricing with Heterogeneous Inattention
INTERNATIONAL ECONOMIC REVIEW, 2018 - SUPPLEMENTARY MATERIAL

True vs. Spurious Long Memory. Some Theoretical Results and a Monte Carlo Comparison  
ECONOMETRIC REVIEWS, 2015 -  WITH ARTURO LECCADITO AND GIOVANNI URGA

POLICY PAPERS

Climate Change and Monetary Policy in the Euro Area
EUROPEAN CENTRAL BANK - OCCASIONAL PAPER SERIES, 271 - WORKSTREAM ON CLIMATE CHANGE - ECB STRATEGY REVIEW

Structural Transformation in the Spanish Economy
BANCO DE ESPAÑA - DOCUMENTOS OCASIONALES, 2003