Papers
Working papers and journal publications (affiliation indicated for non-ECB coauthors)
The impact of capital requirements on voluntary buffer
joint with Giuseppe Cappelletti, Aurea Marques and Leila Travaglini (Columbia)
European Central Bank Working Paper (R&R)
Foreign banks and the doom loop
joint with Jacopo Cimadomo, Nicolò Maffei-Faccioli (Norges Bank)
European Central Bank Working Paper, No. 2540, April 2021
The bank lending channel of conventional and unconventional monetary policy
joint with Andrea Nobili (Bank of Italy) and Federico Signoretti (Bank of Italy)
Journal of Money, Credit and Banking, February 2021
previous draft available as Bank of Italy Working Paper, No. 1094, December 2016
joint with Miguel Boucinha and Bo Becker (Stockholm School of Economics)
Journal of Financial Intermediation, November 2020
previous draft available as European Central Bank Working Paper, No. 2125, January 2018
The shadow value of central bank’s refinancing operations
joint with Lorenzo Burlon, Nicola Pavanini (Tillburg University), Tomas Jankauskas (Tillburg University)
European Central Bank Working Paper, No. 2480, October 2020
Fixed-rate versus adjustable-rate mortgages: evidence from euro-area banks
joint with Fulvia Fringuellotti (NY Fed) and Steven Ongena (University of Zurich)
European Economic Review, forthcoming
European Central Bank Working Paper, No. 2322, October 2019
previous draft available as Bank of Italy Working Paper, No. 1176, October 2018
Credit demand and supply: a two-way feedback relation
joint with Lucia Esposito (Bank of Italy)
Bank of Italy Working Paper, No. 1134, September 2017
Asymmetric information and the securitization of SME loans
joint with Margherita Bottero (Bank of Italy), Leonardo Gambacorta (BIS) and Steven Ongena (University of Zurich)
Bank of Italy Working Paper, No. 1091, December 2016
previous drafts available as CEPR working paper, BIS working paper
An inquiry into the determinants of the profitability of Italian banks
joint with Alessandro Notarpietro (Bank of Italy) and Stefano Siviero (Bank of Italy)
Bank of Italy Occasional Paper, No. 364, October 2016
Information externalities in the credit market and the spell of credit rationing
Sharing Informationn Loan Rejections: A Theoretical and Empirical Analysis
joint with Margherita Bottero (Bank of Italy) and Gabriele Sene (Bank of Italy)
Journal of Financial Intermediation, Vol. 30, April 2017
previous draft available as Bank of Italy Working Paper, No. 980, November 2014
Asymmetric Information in Securitizations: an Empirical Analysis
joint with Carmelo Salle, Ginette Eramo (Bank of Italy) and Leonardo Gambacorta (BIS)
Journal of Monetary Economics, Vol. 71, April 2015
previous drafts available as Bank of Italy Working Paper, No. 796, February 2011, BIS Working Paper, No 341, March 2011
The Impact of the Sovereign Debt Crisis on the Activity of Italian Banks
joint with Tiziano Ropele (Bank of Italy), Gabriele Sene (Bank of Italy) and Federico M. Signoretti (Bank of Italy)
Journal of Banking and Finance, Vol. 46, September 2014
Previous draft available as Bank of Italy Occasional Paper, No. 133, October 2012
The Procyclicality of Foreign Bank Lending: Evidence from the Global Financial Crisis
joint with Margherita Bottero (Bank of Italy)
Journal of International Economics, Vol. 92, April 2014
previous draft available as Bank of Italy Working Paper, No. 926, July 2013
joint with Domenico J. Marchetti (Bank of Italy)
Bank of Italy Working Paper, No. 756, April 2010
Bank Profitability and Taxation
joint with Leonardo Gambacorta (BIS)
Journal of Banking and Finance, vol. 34, November 2010
previous draft available as Bank of Italy Working Paper, No. 649, November 2007
Bank Profitability and the Business Cycle
joint with Leonardo Gambacorta (BIS)
Journal of Financial Stability, vol. 5, December 2009
previous draft available as Bank of Italy Working Paper, No. 601, September 2006
Incentives and Conflicts of Interest in Universal Banks
Bank of Italy Working Paper, No. 572, January 2006
Loan Maturity and Renegotiation: Evidence from the Lending Practices of Large and Small Banks
London School of Economics-FMG Working Papers, No. 588, February 2007
joint with Paolo Finaldi Russo (Bank of Italy) and Paolo E. Mistrulli (Bank of Italy)
Bancaria, Vol. 63, No. 10, 2007
Older projects
Credit Supply to Sovereigns and to the Private Sector: Is There Crowding Out?
joint with Meta Athik (Banka Slovenije), 2015
The Effects of the 3-year VLTROs on Lending Supply: an Analysis Based on Loan-level Data
joint with Marcello Bofondi (Bank of Italy) and Nicola Pellegrini (Bank of Italy)
mimeo, 2014 (presented at workshops held at Banca d'Italia, 2014, and Banque de France, 2015)