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