Publications

My research impact (August 2025):

  - h-index: 16 (Scopus), 22 (Google Scholar)

  - i-10 index: 33 (Google Scholar)

• The financial accelerator mechanism: time-varying frequency-dependent evidence from the C&I loan market, International Journal of Finance & Economics, forthcoming, 2025 (with Marco Gallegati).

• Search for profits and business fluctuations: how does banks' behavior explain cycles?, Journal of Economic Dynamics and Control, 135:104292, 2022 (with Emanuele Ciola and Mauro Gallegati).

• Endogenous clearinghouse formation in payment networks, Review of Evolutionary Political Economy, 3:109-136, 2022 (with Mauro Gallegati and Lucio Gobbi).

• Achieving financial stability during a liquidity crisis: a multi-objective approach, Risk Management, 23:48-74, 2021 (with Lucio Gobbi).

• How diverse are national banking systems? An analysis on banking business models, profitability and riskiness, Economic Notes, 49:e12156, 2020 (with Giacomo Caterini and Lucio Gobbi).

• Liquidity contagion with a "first-in/first-out" seniority of claims, Economics Bulletin, 39:2572-2579, 2019 (with Lucio Gobbi and Massimo Molinari).

• The economics of netting in financial networks, Journal of Economic Interaction and Coordination, 14:595-622, 2019 (with Lucio Gobbi and Massimo Molinari).

• Leverage and evolving heterogeneous beliefs in a simple agent-based financial market, Finance Research Letters, 29:272-279, 2019.

• "The price is right". Using auction theory to enhance competition in the NPL market, Journal of Banking Regulation, 20:104-112, 2019 (with Ronny Mazzocchi).

• A functional perspective on financial networks, Journal of Economic Interaction and Coordination, 13:51-79, 2018 (with Massimo Molinari).

• Taxing financial transactions in fundamentally heterogeneous markets, Economic Modelling, 64:322-333, 2017 (with Massimo Molinari).

• Macroprudential consolidation policy in interbank networks, Journal of Evolutionary Economics, 26:77-99, 2016 (with Massimo Molinari).

• Introduzione all'Economia (2nd Edition). Zanichelli, 2015 (with Luigi Mittone and Roberto Tamborini). Website for the book here.

• Bilateral netting and contagion dynamics in financial networks, in Omatu, S., Malluhi, Q, Gonzales, S.. Bocewisz,  G., Bucciarelli,  G., Giulioni, G. and Iqbal, F. (eds), Distributed Computing and Artificial Intelligence,  12th International Conference, Springer, 2015 (with Lucio Gobbi).

• An agent-based "proof of principle" for Walrasian macroeconomic theory, Computational and Mathematical Organization Theory, 21:150-183, 2015 (with Mauro Gallegati and Umberto Gostoli).

• Interbank contagion and resolution procedures: inspecting the mechanism, Quantitative Finance, 15:637-652, 2015 (with Massimo Molinari).

• Loss aversion and the asymmetric transmission of monetary policy, Journal of Monetary Economics, 68:19-36, 2014 (with Emiliano Santoro, Ivan Petrella and Damian Pfajfar).

• At the core of the international financial system, Global Economy Journal, 14:163-188, 2014.

• On the finance-growth nexus: Additional evidence from Central and Eastern Europe countries, Economic Change and Restructuring, 47:89-115, 2014 (with Petya Garalova).

• Using information markets in grantmaking: an assessment of the issues involved and an application to Italian banking foundations, Il Risparmio Review, 61:71-107, 2013. This paper has won the 4th International Research on Philanthropy Award.

• On the mean/variance relationship of the firm size distribution: evidence and some theory, Ecological Complexity, 11:109-117, 2012 (with Corrado Di Guilmi, Mauro Gallegati and Alberto Russo).

• La magistratura mercantile della Fiera di Bolzano (1635-1851): Un'analisi economica, in Bonoldi, A., Leonardi, A. and Occhi, K. (eds), Interessi e Regole: Operatori e Istituzioni nel Commercio Transalpino in Età Moderna (Secoli XVI-XIX). Il Mulino, 2012 (with Luciano Andreozzi and Marco Faillo).

• Macroeconomics from the Bottom-Up, Springer, 2011 (with Domenico Delli Gatti, Saul Desiderio, Pasquale Cirillo and Mauro Gallegati).

• If the financial system is complex, how can we regulate it?, International Journal of Political Economy, 40: 79-97, 2011 (with Roberto Tamborini).

• The psychology of inflation, monetary policy and macroeconomic instability, Journal of Socio-Economics, 40: 660-670, 2011 (with Giulia Canzian).

• The distribution of sectoral TFP growth rates: international evidence, Economics Letters, 113:252-255, 2011.

• Complex agent-based macroeconomics: a manifesto for a new paradigm, Journal of Economic Interaction and Coordination, 5: 111-135, 2010 (with Domenico Delli Gatti and Mauro Gallegati).

• Keynes in the computer laboratory. An agent-based model with MEC, MPC and LP, in Hernandéz, C., Posada M. and Lòpez-Paredes, A. (eds), Artificial Economics. The Generative Methods in Economics. Springer, 2009 (with Giulia Canzian and Roberto Tamborini).

• A look at the relationship between industrial dynamics and aggregate fluctuations, in Faggini, M. and Lux, T. (eds), Coping with the Complexity of Economics. Springer, 2009 (with Domenco Delli Gatti and Mauro Gallegati).

• Business failures, macroeconomic risk and the effect of recessions on long-run growth: a panel cointegration approach, Journal of Economics and Business, 61:435-452, 2009 (with Emiliano Santoro).

• Adaptive microfoundations for emergent macroeconomics, Eastern Economic Journal, 34:441-463, 2008 (with Domenico Delli Gatti, Saul Desiderio and Mauro Gallegati).

• Demand distribution dynamics in creative industries: the market for books in Italy, Information Economics and Policy, 20:257-268, 2008 (with Antonello Scorcu and Laura Vici).

• Lévy-stable productivity shocks, Macroeconomic Dynamics, 12:425-443, 2008.

• Getting fiscal policy measures right for the New SGP, in Farina, F. and Tamborini, R. (eds), Macroeconomic Policy in the European Monetary Union. From the Old to the New Stability and Growth Pact. Routdledge, 2008 (with Giuliana Passamani and Roberto Tamborini).

• Scaling laws in the macroeconomy, Advances in Complex Systems, 11:131-138, 2008 (with Domenico Delli Gatti, Mauro Gallegati, Gianfranco Giulioni and Antonio Palestrini).

• Emergent Macroeconomics. An Agent-Based Approach to Business Fluctuations, Springer, 2008 (with Domenico Delli Gatti, Mauro Gallegati, Gianfranco Giulioni and Antonio Palestrini).

• Industrial dynamics, fiscal policy and R&D: evidence from a computational experiment, Journal of Economic Behavior and Organization, 64:426-447, 2007 (with Alberto Russo, Michele Catalano, Mauro Gallegati and Mauro Napoletano).

• Reflections on modern macroeconomics: can we travel along a safer road?, Physica A, 382:89-97, 2007 (with Michele Catalano, Fabio Clementi, Domenico Delli Gatti and Mauro Gallegati).

• Complex dynamics and empirical evidence, Information Sciences, 117:1202-1221, 2007 (with Domenico Delli Gatti, Mauro Gallegati, Alan Kirman, Antonio Palestrini and Alberto Russo).

• Ricerca e sviluppo, produttività e crescita economica: un modello con agenti eterogenei interagenti, Sistemi Intelligenti, 18:155-164, 2006 (with Michele Catalano, Mauro Gallegati, Mauro Napoletano and Alberto Russo).

• Financial fragility and scaling distribution in the laboratory, in Namatame, A., Kaizouji, T. and Aruka, Y. (eds), The Complex Networks of Economic Interactions. Springer, 2006 (with Giovanna Devetag, Mauro Gallegati and Gianfranco Giulioni).

• Firms' size distribution and growth rates as determinants of business fluctuations, in Salzano, M. and Kirman, A. (eds), Economics: Complex Windows. Springer, 2006.

• Complex dynamics, financial fragility and stylized facts, in Mathieu, P., Beaufils, B. and Brandouy,  O. (eds), Artificial Economics. Agent-based Methods in Finance, Game Theory and Their Applications. Springer, 2006 (with Domenico Delli Gatti, Mauro Gallegati, Gianfranco Giulioni,  Alan Kirman, Antonio Palestrini and Alberto Russo).

• International evidence on business cycle magnitude dependence: an analysis of 16 industrialized countries, International Journal of Applied Econometrics and Quantitative Studies, 2:1-9, 2005 (with Corrado Di Guilmi, Mauro Gallegati and Antonio Palestrini).

• Inflation regimes and price setting interactions, International Journal of Theoretical and Applied Finance, 8:339-355, 2005.

• Commento alla relazione di A. Kirman, in Delli Gatti, D. and Gallegati, M. (eds), Eterogeneità degli Agenti Economici ed Interazione Sociale: Teorie e Verifiche Empiriche. Il Mulino, 2005.

• A new approach to business fluctuations; heterogeneous interacting agents, scaling laws and financial fragility, Journal of Economic Behavior and Organization, 56:489-512, 2005 (with Domenico Delli Gatti, Corrado Di Guilmi, Gianfranco Giulioni, Mauro Gallegati and Antonio Palestrini). This paper has won the "Elsevier Economics&Finance journals most cited articles 2005-09" Award.

• The apprentice wizard: monetary policy, complexity and learning, New Mathematics and Natural Computation, 1:109-128, 2005 (with Domenico Delli Gatti, Mauro Gallegati and Antonio Palestrini).

• Requiem for the unit root in real per capital GDP? Additional evidence from historical data, Empirical Economics, 30:37-63, 2005 (with Marco Gallegati and Mauro Gallegati).

• Bankruptcy as an exit mechanism for systems witha a variable number of components, Physica A, 334:8-13, 2004 (with Domenico Delli Gatti, Corrado Di Guilmi and Mauro Gallegati).

• Business cycle fluctuations and firms' size distribution dynamics, Advances in Complex Systems, 7:223-240, 2004. Also in Leombruni, R and M. Richiardi (eds), Industry and Labor Dynamics: The Agent-Based Computational Economics Approach. Singapore, World Scentific Press, 2004 (with Domenico Delli Gatti, Corrado Di Guilmi, Gianfranco Giulioni, Mauro Gallegati and Antonio Palestrini)

• Empirical results on the size distribution of business cycle phases, Physica A, 333:325-334, 2004 (with Corrado Di Guilmi and Mauro Gallegati).

• Il consumatore ideologo: la soddisfazione degli utenti di organizzazioni del non-profit, in Mellano, M. and Schenkel, M. (eds), Le Imprese del Terzo Tipo: Economia ed Etica del Stettore Non-Profit. Giappichelli, 2004 (with Michela Michelutti and Marina Schenkel).

• Informational interaction in coordination games: experimental evidence, Rivista Internazionale di Scienze Sociali, 111:553-547, 2003 (with Mauro Gallegati).

• Power law scaling in the world income distribution, Economics Bulletin, Vol.15, no.6, pp.1-7, 2003 (with Corrado Di Guilmi and Mauro Gallegati).

• Power laws and macroeconomic fluctuations, Physica A, 324:408-416, 2003 (with Mauro Gallegati, Gianfranco Giulioni and Antonio Palestrini).

• On the size distribution of firms: additional evidence from the G7 countries, Physica A, 324:117-123, 2003 (with Mauro Gallegati and Antonio Palestrini).

• The economics of HIV-AIDS: a review article, Development Policy Review, 21:27-49, 2003.

• Privatizzazioni ed efficienza, in De Nardis, S. (ed.), Le Privatizzazioni Italiane. Il Mulino, 2000.

• Comovimenti settoriali e ciclo economico in Italia: 1990-1999, Studi e Note di Economia, 3:149-171, 2000.

• Un approccio "interattivo" alle teoria del reddito permanente, Rivista di Politica Economica, 77:97-130, 2000.

• Competition-led endogenous growth with localized technological change, Economics of Innovation and New Technology, 8:225-251, 1999.

• Tutorial on social interaction economics, in Gallegati, M. and Kirman, A. (eds), Beyond the Representative Agent. E. Elgar, 1999.

• Multilevel interactions with a Keynesian flavour  in a stochastic macroeconomic model, in Gallegati, M. and Kirman, A. (eds), Beyond the Representative Agent. E. Elgar, 1999.

• Alcuni aspetti analitici dell'economia delle interazioni sociali, Economia Politica, 16:459-505, 1999.

• A frequency domain analysis of business cycle in Italy: 1866-1996, Rassegna dei Lavori dell'ISCO, 14:33-50, 1997 (with Marco Gallegati).