Policy works, commentaries, ongoing and older projects

Policy publications

The role of financial stability considerations in monetary policy and the interaction with macroprudential policy in the euro area

Workstream on macroprudential policy, monetary policy and financial stability. September 2021

The ECB’s price stability framework: past experience, and current and future challenges Work stream on price stability objective

Workstream on the price stability objective. September 2021

Lower for longer – macroprudential policy issues arising from the low interest rate environment

Report of the Joint Task Force of ESRB Advisory Technical Committee (ATC), ESRB Advisory Scientific Committee (ASC), and ESCB Financial Stability Committee (FSC). Member of task force. June 2021

Prospects for euro area bank lending margins in an extended low-for-longer interest rate environment

joint with Desislava Andreeva, Marco Belloni, Alberto Grassi, Jonas Mosthaf, Tamarah Shakir

Article, Financial Stability Review Issue 2, 2020

Potential impact of government loan guarantee schemes on bank losses

joint with Martin Bijsterbosch, Maciej Grodzicki, Julian Metzler, Aurea Ponte Marques

Box, Financial Stability Review Issue 1, 2020

Monetary policy and bank stability: the analytical toolbox reviewed

joint with Francesca Barbiero, David Marques-Ibanez, Alexander Popov, Costanza Rodriguez D’Acri and Thomas Vlassopoulos

European Central Bank Occasional Paper, No. 2377, February 2020

Financial Sector Pro-Cyclicality: Lessons From The Crisis

joint with Fabio Panetta and Paolo Angelini (coordinators), Francesco Columba, Wanda Cornacchia, Antonio di Cesare, Andrea Pilati, Carmelo Salleo and Giovanni Santini

Bank of Italy Occasional Paper, No. 44, April 2009

Commentaries

Discussion of "The Market for Crowd Funding and Peer-to-Peer Lending" (by Ester Faia and Monica Paiella)

In Capital Markets Union and Beyond, January 2020

Edited by Franklin Allen, Ester Faia, Michael Haliasso, Katja Langenbucher

Monetary policy and bank stability: The analytical toolbox reviewed

Voxeu, with Francesca Barbiero, David Marques-Ibanez, Alexander Popov, Costanza Rodriguez d'Acri, Thomas Vlassopoulos, February 2020

Securitisation: Let’s not throw the baby out with the bathwater

Voxeu, with Leonardo Gambacorta, Carmelo Salleo, May 2011