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 markets.

WORKING PAPERS

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

• Robot Adoption and Inflation Dynamics
  R&R, Journal of Monetary Economics - Appendix - with Henrique S. Basso
  
  

• Bank Municipal Bond Holdings and Mortgage Lending Standards
  R&R, Journal of Corporate Finance - with Vahid Saadi
  
  

• Opening the Black Box: Aggregate Implications of Public Investment Heterogeneity
  with Henrique S. Basso and Myroslav Pidkuyko
  
  

• When Are Technology Improvements Inflationary?
  with Hafedh Bouakez and Christian Höynck
  
  

• The Carbon-Adjusted Fiscal Multiplier - coming soon!
  with Henrique S. Basso and Valerio Nispi Landi

PUBLICATIONS

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

• The Sectoral Origins of Heterogeneous Spending Multipliers
  Journal of Public Economics, forthcoming - with Hafedh Bouakez and Emiliano Santoro
  
  

• Public Investment in a Production Network: Aggregate and Sectoral Implications
  Review of Economics and Statistics, forthcoming - Appendix - with Alessandro Peri and Iacopo Varotto
  
  

• Inequality and the Zero Lower Bound
  Journal of Econometrics, 2025 - with Jesús Fernández Villaverde, Joël Marbet and Galo Nuño
  
  

• Demographics and Emissions: The Life Cycle of Consumption Carbon Intensity
  Oxford Bulletin of Economics and Statistics, 2024 - with Henrique S. Basso and Richard Jaimes
  
  

• Bank Regulatory Capital Arbitrage: Evidence from Housing OverAppraisals
  Management Science, 2024 - with Sergio Mayordomo and Maria Rodriguez 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 - Appendix - with Henrique S. Basso
  
  

• Financial Development, Default Rates, and Credit Spreads
  Economic Journal, 2020 - Appendix - with Alessandro Peri
  
  

• Services Deepening and the Transmission of Monetary Policy
  Journal of the European Economic Association, 2019 - Appendix - with Alessandro Galesi
  
  

• Portfolio Rebalancing and Asset Pricing with Heterogeneous Inattention
  International Economic Review, 2018 - Appendix
  
  

• True vs. Spurious Long Memory. Some Theoretical Results and a Monte Carlo Comparison
  Econometric Review, 2015 -  with Arturo Leccadito and Giovanni Urga
  
  

POLICY PAPERS

• Climate Change and Monetary Policy in the Euro Area
  European Central Bank - Occasional Paper Series - Workstream on Climate Change - ECB Strategy Review
  
  

• Structural Transformation in the Spanish Economy
  Banco de España, Documento Ocasionales