(Refereed publications are numbered, * indicates under submission)

INTERNATIONAL ECONOMICS (Firm Heterogeneity in Open Economies, Trade and Foreign Direct Investment, Empirical Studies of Capital Flows, Global Inflation)

(1) An International Perspective on the Recent Behavior of Inflation, September 2014, with Li Li and Pierangelo De pace, Federal Reserve Bank of St. Louis, 86(4).

(2) International Trade, Female Labor, and Female Entrepreneurship in MENA countries, 2014 (refereed) in "Middle East and African Countries: Economic and Political Perspectives in the Aftermath of the Arab Spring," edited by Altomonte and Ferrara (2014), Edward Elgar Publishing, with Francesca De Nicola and Li Li.

(3) The Cyclical Properties of Disaggregated Capital Flows, Journal of International Money and Finance, February 2013, Volume 32, pages 528-555, with Pierangelo De Pace and Johanna Francis. pdf

(4) (Non-) Resiliency of FDI in the United States during the 2007-09 Financial Crisis, Pacific Economic Review, 2012, Vol. 17, Issue 3, pp. 368-390 with Pierangelo De Pace.

(5) Changes in the second-moment properties of disaggregated capital flows, Economics Letters, 2012, 115, 122-127, with Pierangelo De Pace and Johanna Francis.

(6) An Application of Conventional Sovereign Debt Sustainability Analysis to the the Current Debt Crises, Federal Reserve Bank of St. Louis Review, May/June 2012

(7) Do European Capital Flows Comove? North American Journal of Economics and Finance, August 2009, 20(2), pp. 145-61, with Pierangelo De Pace.

(8) FDI, Productivity and Country Growth, Federal Reserve Bank of St. Louis Review, March/April 2009, 91(2), p. 61-78, with Ariel Weinberger.


(9) How did the Financial Crisis Alter the Correlations of U.S. Yield Spreads? forthcoming in Journal of Empirical Finance, with Massimo Guidolin and Pierangelo De Pace.

(10) Understanding the Accumulation of Bank and Thrift Reserves during the U.S. Financial Crisis, Journal of Economic Dynamics and Control, June 2014, with Su-Hsin Chang and Johanna Francis.

(11) US Commercial Bank Lending through 2008:Q4: New Evidence from Gross Credit Flows 1999-2008, Economic Inquiry, Volume 51, Issue 1, pages 428–444, January 2013, with Johanna Francis.

(12) TARP beneficiaries and their Lending Patterns during the Financial Crisis, Federal Reserve Bank of St. Louis Review, March/April 2011, 93(2), pp. 105-126, with Johanna Francis.
  • Aggregate Shocks and the Two Sides of Credit Reallocation, with Riccardo Di Cecio and Johanna Francis, June 2014 draft available, please email if interested
  • Choy, Lai, and Ng (ASSA, 2015) pdf
  • Chi and Sarolli (SEA, 2014)
  • Stebunovs and Lee (FRS Meeting, Regional, 2011)
  • Carlson et al. (FRS Meeting, Applied Micro, 2011)
  • De Pace (EU Studies Association, 2008)
  • Crowley (EU Studies Association, 2008)
  • Ghironi and Stebunovs (FRS Meeting, Macro 2008)


Geographical Patterns in the Location of FDI: Evidence from Central European Regions, ISLA-Bocconi Working Paper 3-2001.