Research
Journal publications
- Drivers of Large Recessions and Monetary Policy Responses (with Giovanni Melina), Journal of International Money and Finance, 137, 2023 [Article, WP version].
- Going the Extra Mile: Effort by Workers and Job-seekers (with Matthias Hertweck and Vivien Lewis), Journal of Money, Credit and Banking, 53(8), 2021 [Article, WP version].
- How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area (with Nicoletta Batini, Alessandro Cantelmo and Giovanni Melina), Oxford Economic Papers, 73(4), 2021 [Article, WP version].
- Fiscal Buffers, Private Debt, and Recession: The Good, the Bad and the Ugly (with Nicoletta Batini and Giovanni Melina), Journal of Macroeconomics, 62, 2019 [Article,WP version].
-Forecasting with Instabilities: An Application to DSGE Models with Financial Frictions (with Roberta Cardani and Alessia Paccagnini), Journal of Macroeconomics, 61(C), 2019 [Article, WP version].
- Leaning Against Windy Bank Lending (with Giovanni Melina), Economic Inquiry, 56(1), p.460-482, 2018 [Article, Online Appendix, WP version] [Summary in the IMF Research Bulletin].
- Slow Recoveries: Any Role for Corporate Leverage? (with Frank Smets), Journal of Economic Dynamics and Control, 70, p.54-85, 2016 [Article, WPversion].
- Dealing with Financial Instability under a DSGE Modeling Approach with Banking Intermediation: a Predictability Analysis versus TVP-VARs (with Stelios Bekiros, Roberta Cardani and Alessia Paccagnini), Journal of Financial Stability, 26, p.216-227, 2016 [Article, WP version].
- Financial Frictions in the Euro Area and the United States: A Bayesian Assessment, Macroeconomic Dynamics, 20 (05), p. 1313-1340, 2016 [Article, WP version with appendix].
- Factor Complementarity and Labour Market Dynamics (with Federico Di Pace), European Economic Review, 82, p.70-112, 2016 [Article, WP version].
- Fiscal Policy and Lending Relationships (with Giovanni Melina), Economic Inquiry, 52(2), p.696-712, 2014 [Article, Online Appendix] [WP version].
- Capital Utilization and the Amplification Mechanism, The B.E. Journal of Macroeconomics (Contributions), 12(1), 2012 [Article].
Working papers
- Risky firms and fragile banks: implications for macroprudential policy (with T. Gasparini, V. Lewis and S. Moyen), Banque de France Working Papers 944, 2024 [download]
- Quantity versus price dynamics: the role of energy and bottlenecks in the Italian industrial sector (with F. Corsello and M. Flaccadoro), Bank of Italy Occasional Papers no 781, 2023 [download]
- Consumption during the Covid-19 pandemic: evidence from Italian credit cards (with S. Emiliozzi and C. Rondinelli), Bank of Italy Occasional Papers no 769, 2023 [download]. Media coverage: lavoce.info (in Italian)
- Labor Productivity, Effort and the Euro Area Business Cycle (with Vivien Lewis), CEPR Discussion Paper no 18389, 2023 [download, online appendix]
- Forecasting Italian GDP growth with epidemiological data (with V. Aprigliano, A. Borin, F.P. Conteduca, S. Emiliozzi, M. Flaccadoro and S. Marchetti), Bank of Italy Occasional Papers no 664, 2021 [download]
- The Interdependence of Monetary and Macroprudential Policy under the Zero Lower Bound (with Vivien Lewis), NBB working paper 310, 2016 [download]
- Financial Intermediaries in an Estimated DSGE Model for the UK (with Jing Yang), Bank of England Working Paper 431, 2011, and in Interest Rates, Prices and Liquidity. Lessons from the Financial Crisis, eds. J. Chadha and S. Holly, Cambridge University Press, 2011 [download]
Research in progress
- Global risk aversion and sovereign debt in emerging markets, with Marco Flaccadoro.
- Households inflation and consumption expectations in high inflation times, with Marco Flaccadoro and Concetta Rondinelli.
Other Journal Publications
- Growth in Transition Countries: Big Bang verus Gradualism (with Roberto Dell’Anno), 2013, Economics of Transition, 21(3), p. 381-417 [Article].
- Innovation and Internationalization: The Case of Italy (with R. Pittiglio and E. Sica), 2009, Journal of Technology Transfer, 34, p.588-602 [Article].