My research interests are mainly in monetary theory and macroeconomic theory. I have written several theoretical papers on the microfoundations of monetary exchange, with a particular focus on the coexistence of money and credit. Recently, I have written some papers on the benefits of replacing cash with sovereign digital currency. Other research interests include the theory of voting and games with population uncertainty.
PUBLISHED PAPERS
“Foreign Lenders and the Real Sector”, with R. Minetti, Journal of Money, Credit and Banking, 39, 2007, 945-964
“Collateral Secured Loans in a Monetary Economy”, with M. Watanabe, Journal of Economic Theory, 143, 2008, 405-424
“On the Complementarity of Money and Credit”, European Economic Review, 54, 2010, 733-741
“Collateral Fluctuations in a Monetary Economy”, with M. Watanabe, Journal of Economic Theory, 146, 2011, 1915-1940
“On the Effect of Ideology in Proportional Representation Systems”, with F. De Sinopoli and G. Iannantuoni, Mathematical Social Sciences, 62, 2011, 87-90
“Liquidity Constraints in a Monetary Economy”, with M. Watanabe, International Economic Review, 53, 2012, 255-277
“Electing a Parliament”, with F. De Sinopoli and G. Iannantuoni, Social Choice and Welfare, 40, 2013, 715-727
“Foreign Banks and the Dual Effect of Financial Liberalization”, with R. Minetti, Journal of Money, Credit and Banking, 45, 2013, 1301-1333
“Limited Committment and the Legal Restrictions Theory of the Demand for Money”, with F. Mattesini, Journal of Economic Theory, 151, 2014, 196-215
“Moderating Government”, with F. De Sinopoli and G. Iannantuoni, Social Choice and Welfare, 45, 2015, 415-440
“Money and Limited Enforcement in Multilateral Exchange”, with N. Amendola, Macroeconomic Dynamics, November 2018, 1-18
“Collateral and Development”, with N. Amendola and L. Carbonari, B.E. Journal Macroeconomics, Advances, June 2019
“Liquidity Externalities and the Wallace Conjecture”, with N. Amendola and F. Mattesini, Macroeconomic Dynamics, October 2019, 1-11
“Money and Collateral”, with F. Mattesini, Journal of Money, Credit and Banking, October 2020, 52, 1617-1644
“Money, Bonds and the Liquidity Trap”, with L. Araujo, Journal of Money, Credit and Banking, October 2020, 52, 1853-1867
“Money and Credit Remix”, with L. Araujo, Macroeconomic Dynamics, September 2020, 1-14
“Societal Benefit of Multiple Currencies”, with L. Araujo, Journal of Money, Credit and Banking, May 2021, online
“Three Liquid Assets” with N. Amendola and L. Carbonari, Macroeconomic Dynamics, April 2024, 28
“Poisson Search”, with C. Meroni and F. De Sinopoli, Journal of Mathematical Economics, June 2024, 112
“Group Size as Selection Device”, with C. Meroni and F. De Sinopoli, Economic Theory, forthcoming
“Optimal Payment Arrangement in a Cash-less Monetary Economy”, with N. Amendola and L. Araujo, Journal of Money, Credit and Banking, forthcoming
“Physical vs Digital Currency: A Difference that Makes a Difference”, with N. Amendola and L. Araujo, Theoretical Economics, forthcoming
WORKING PAPERS
“Experimenting with Digital Currency”, with L. Araujo, M. Mantovani and D. Puzzello
“Monetary and Fiscal Coordination: Who Imposes Discipline on Whom?”, with C. Meroni and F. De Sinopoli
BOOKS
Lineamenti di Macroeconomia, EGEA, 2021, with N. Amendola and L. Carbonari
Macroeconomia: il Minimo Teorico, EGEA, 2024, with N. Amendola and L. Carbonari
Macroeconomic Theory: A Primer, Springer Nature, 2025