MAIN PUBLICATIONS
Macro Development and Political Economy
"Project aid and firm performance" (with Tania Masi and Saumik Paul). 2025. Economic Development and Cultural Change, 73 (3): 1023-1604
"IMF programs and firm investment decisions?" 2025 (with Pietro Bomprezzi, and Rima Turk-Ariss). Economics Letters, 253, 112382
Featured in VoxEU, August 2024.
"A firm level approach on the effects of IMF programs" (with Pietro Bomprezzi). 2023. Journal of International Money and Finance, 132, 102819
"Delegation of implementation in project aid" (with Tania Masi). 2021. The Review of International Organizations, 16: 655-687
“Information transmission within federal fiscal architectures: Theory and evidence” (with Axel Dreher, Kai Gehring, Christos Kotsogiannis). 2018. Oxford Economic Papers, 70, 243-265.
“Information transmission and ownership consolidation in aid programs” (with Axel Dreher and Sarah Langlotz). 2017. Economic Inquiry, 55: 1671-1688.
Featured in Voxeu.org, December 2016
“Did high debts distort loans and grants allocation to IDA countries?” (with Alessandro Missale). 2013. World Development, 44: 1-300
“Read my lips: the role of information transmission in multilateral reform design” (with Laura Sabani and Axel Dreher). 2011. Journal of International Economics, 84: 86-98
“Is two better than one? Effects on growth of Bank-Fund interaction” (con Emanuela Sirtori). 2011. Review of International Organizations, 6: 287–306
“The political economy of IMF forecasts” (with Axel Dreher and James Vreeland). 2008. Public Choice, 137: 145-171
“IMF concern for reputation and conditional lending failure: theory and empirics” (with Laura Sabani). 2007. Journal of Development Economics, 84: 640-666
Best paper award at the Global Finance Conference
“Adoption of an IMF Programme and Debt Rescheduling. An empirical analysis”. 2003. Journal of Development Economics, 70 (2): 403-423.
Top 25 JDE requested papers, Year 2003
“IMF conditionality as a screening device” (with Jonathan P. Thomas). 1999. The Economic Journal, 109: 111-125.
Sir Austin Robinson Memorial Prize
International Finance
"International Lending Channel, Bank Heterogeneity, and Capital Inflows (Mis)Allocation" 2026 (with Lucas Argentieri Mariani). European Economic Review, 182, 105212
Knockin' on H(e)aven's door. Financial crises and hidden wealth" 2025 (with Giovanna Marcolongo). 2023. Journal of International Economics, 158, 104175
Featured in VoxEU, March 2024.
"Is to forgive to forget? Sovereign risk in the aftermath of private and official debt restructurings" (with Tania Masi and Pietro Bomprezzi). 2024. IMF Economic Review, 72: 292-334
"Life after default. Private and Official deals" (with Tania Masi). 2021. Journal of International Money and Finance, 113: 1-23.
Featured in VoxEU, July 2018
"Sovereign rating after private and official restructuring" (with Tania Masi). 2020. Economics Letters, 192, 1-7.
Featured in VoxEU, May 2020
“Buybacks of domestic debt in public debt management”. 2006. European Journal of Finance, 12: 379-400
OTHER PUBLICATIONS
Cultural Economics
"Introduction to a Special Issue on Theoretical Cultural Economics" (with Pascal Courty), 2026, The Journal of Cultural Economics, forthcoming
"Liberalizing Art: Evidence on the Impressionists at the end of the Paris Salon" (with Federico Etro and Elena Stepanova). 2020. European Journal of Political Economy, 62, 101-120
“The Labor Market in the Art Sector of Baroque Rome” (with Federico Etro and Laura Pagani). 2015. Economic Inquiry, 53 (1): 365-387
Annual Prize in Labour Economics "Ezio Tarantelli"
Book Reviews, Book Chapters, and Survey articles
"From Economic Crisis to Reform: IMF Programs in Latin America and Eastern Europe" by Grigore Pop-Eleches (PUP, 2009). 2010. book review, Economic Record 86: 304-307
“Prolonged use and conditionality failure: investigating the IMF responsibility” (with Laura Sabani) in G. Mavrotas and A. Shorrocks (eds.). 2007. book chapter in Advancing Development: Core Themes in Global Economics, Palgrave-Macmillan: 319-332
"Riacquisto di debito pubblico: estero ed interno". 2002. Rivista di Politica Economica, 92: 131--165.
ONGOING WORK
Macro Development and Political Economy
"Wedded to Prosperity? Informal influence and Regional Favoritism" (with Pietro Bomprezzi, Axel Dreher, Andreas Fuchs, Teresa Hailer, Andreas Kammerlander, Lennart Kaplan, Tania Masi, Charlotte Robert, Kerstin Unfried). 2024. CEPR Discussion Paper 18878. Under review
Featured in VoxEU, April 2024, and in VoxDev, May 2024.
"Reversing the Political Resource Curse: Accountability and Regional Favoritism under Capital Windfalls" (with Mattia Longhi and Lucas Mariani). 2025 DEMS-CefES Working Paper 552. Under review
"Follow the firms: ownership ties and the geography of aid" (with Pietro Bomprezzi, Mattia Longhi, and Rima Turk-Ariss).
"Mapping the Local Effects of Foreign Aid" (with Fernanda Almeida Ribeiro de Jesus, Bomprezzi, Axel Dreher, Jingke Pan, and Charlotte Robert)
International Finance
"Sovereign Default and Trade: External vs. Domestic" (with Dennis Essers and Nejat Gökhan Okatan). 2026 DEMS-CefES Working Paper. Under review
"Bank Lending and Domestic and External Defaults" (with Nejat Gökhan Okatan and Ugo Panizza).
"Sovereign Risk and Human Capital" (with Mattia Longhi).
"Distributional Consequences of Sovereign Risk: The Role of Real Estate and Banking Channels (with Lucas Mariani, Andrea Camilli, and Marta Giagheddu).
Cultural Economics
"Prize Signals vs. Market Signals: Career Persistence in Literary Markets " (with Michela Ponzo, Vincenzo Scoppa, and Idola Francesca Spanò). IZA Discussion Paper No. 18563. Under review