Research

Working papers

Interlocking Directorates and Competition in Banking (July 2024), with Guglielmo Barone and Enrico Sette.

Firm-Bank Relationships: a Cross-Country Comparison (April 2023), with Kamelia Kosekova, Angela Maddaloni and Melina Papoutsi.

Managerial Practices and Student Performance: Evidence from Changes in School Principals (February 2024), with Adriana Di Liberto, Ludovica Giua, Marco Sideri and Giovanni Sulis. 

The education of Italian entrepreneurs (June 2018).

Publications 

Below the list of my publications, with the link to the published or working paper version.

• Management practices and resilience to shocks: Evidence from COVID-19 (March 2022), with  Andrea Lamorgese, Andrea Linarello  and Megha Patnaik. Management Science, Forthcoming. 

• Are Executives in Short Supply? Evidence from Deaths’ Events, with Julien Sauvagnat, The Review of Economic Studies, Forthcoming. 

• Credit Misallocation during the European Financial Crisis, with Enrico Sette and Guido Tabellini, Economic Journal, Vol. 132, Issue 641, pp. 391–423,  2022. Online Appendix. 

• Gains from Early Support of a New Political Party, with Marco Leonardi, Rossella Mossucca and Battista Severgnini, Journal of Economic Behavior & Organization, Vol. 190, pp. 878–890,  2021.

• Can Entrepreneurship Be Learned from Other Entrepreneurs?, with Luigi Guiso and Luigi Pistaferri, Journal of Labor Economics, Vol. 39, pp. 135-191, 2021.

• Are They All Like Bill, Mark, and Steve? The Education Premium for Entrepreneurs, with Claudio Michelacci, Labour Economics, Volume 67, 2020.

• Identifying the Real Effects of Zombie Lending, with Enrico Sette and Guido Tabellini, The Review of Corporate Finance Studies, Volume 9, Issue 3, pp.  569–592, 2020. 

• A simple method to estimate firms liquidity needs during the COVID-19 crisis with an application to Italy, with Guido Romano, Covid Economics, Volume 1, Issue 35, pp. 51-69, 2020. Slides of the presentations at the OECD (June 5 2020) and the ECB (June 9 2020). A  stata code and a mock dataset to replicate the methodology.

• The IT Revolution and Southern Europe’s Two Lost Decades, with Tom Schmitz, Journal of the European Economic Association, Volume 18, Issue 5, pp. 2441–2486, 2020. 

• Do Female Executives Make a Difference?, with Luca Flabbi,  Mario Macis and Andrea Moro, Economic Journal, Volume 129, Issue 622, Pages 2390–2423, 2019. Click here for the web appendix.

• The Productivity Puzzle and Misallocation: an Italian Perspective, with Sara Calligaris, Massimo Del Gatto, Fadi Hassan, Gianmarco I.P. Ottaviano, Economic Policy, Volume 33, Issue 96, Pages  635–684, 2018.

• Asymmetric Information and Imperfect Competition in Lending Markets, with Greg Crawford and Nicola Pavanini, American Economic Review, Volume 108, Issue 7,  Pages 1659–1701, 2018  (complete working paper version that includes the appendix). Click here for the web appendix of the published paper.

• Employment and wage insurance within firms: Worldwide evidence,  with Andrew Ellul and Marco Pagano, Review of Financial Studies, Volume 31, Issue 4, Pages 1298–1340, 2018, Web appendix with additional results.

• Entry regulation in retail markets, VERSIONE WP with Andrea Pozzi, in E. Basker (ed.), “Handbook on the Economics of Retail and Distribution”, Edward Elgar, 2016.

• Demand or Productivity: What Determines Firm Growth?, with Andrea Pozzi, RAND Journal of Economics, 47, pp. 608–630, 2016.

• Export and Wages: Rent Sharing, Workforce Composition or Returns to Skills?, with Mario Macis, Journal of Labor Economics, Vol. 34, pp. 945–978, 2016.

• Managerial Practices and Students’ Performance, with Adriana Di Liberto and Giovanni Sulis, Economic Policy, Vol. 30, pp. 683-728, 2015.

• Corporate Control and Executive Selection, with Francesco Lippi, Quantitative Economics, Vol. 5, pp. 417-456, 2014.

• Credit within the firm, with  Luigi Guiso and Luigi Pistaferri, Review of Economic Studies, Vol. 80, pp. 211-247, 2013.

• Does Idiosyncratic Business Risk Matter for Growth?, with C. Michelacci,  Journal of the European Economic Association, Vol. 11, pp. 343-368, 2013. Online appendix.

• Entry Barriers in Italian Retail Trade, with E. Viviano,  Economic Journal, Vol. 121, pp. 145-170, 2011.

• What determines entrepreneurial clusters?, with L. Guiso, Journal of the European Economic Association, Vol. 9, Issue 1, pp. 61-86, 2011.

• Tax buyouts, with M. Del Negro and F. Perri, Journal of Monetary Economics – Carnegie- Rochester Conference Series on Public Policy, Vol. 57, No.  5, pp.  576-595, 2010.

• Structural change and human capital in the Italian productive system, with R. Torrini, Giornale degli Economisti e Annali di Economia, Vol. 69, pp. 119-167, 2010.

• Do Mergers Improve Information? Evidence from the Loan Market, with Fabio Panetta and Matthew Shum, Journal of Money, Credit and Banking, Vol. 41, No. 4, pp. 673-709, 2009.

• Identifying the Effects of Firing Restrictions through Size-Contingent Differences in Regulation, with R. Torrini,  Labour Economics, Vol. 15, pp. 482–511, 2008.

• Skill dispersion and Productivity: an Analysis with Matched Data, with S. Iranzo and E. Tosetti, Journal of Labor Economics¸ Vol. 26, pp. 247-285, 2008.

• Strategic Experimentation and Disruptive Technological Change, with M. Schneider, Review of Economic Dynamics, Vol. 11, pp. 386-412, 2008.

• Spillovers in Industrial Districts, with Luigi Guiso, Economic Journal, Vol. 117, pp. 68–93, 2007.

• Wages, Employment, and Capital in Capitalist and Worker-owned Firms, with John Pencavel and Luigi Pistaferri, Industrial and Labor Relations Review, Vol. 60, No. 1, pp. 23-44, October 2006.

• Insurance within the firm,  with L. Guiso and L. Pistaferri, Journal of Political Economy, Vol. 113, pp. 1054-1087, 2005.

• Comparative Analysis of Firm Demographics and Survival: Micro-level Evidence for the OECD countries, with E. Bartelsman and S. Scarpetta, Industrial and Corporate Change, Vol. 14, pp. 365-391, 2005.

• ICT Adoption in Italian Manufacturing: Firm-Level Evidence, with S. Fabiani and S. Trento, Industrial and Corporate Change, Vol. 14, pp. 225-249, 2005.

• Identifying the Sources of Local Productivity Growth, with F. Cingano, Journal of the European Economic Association, vol. 2, pp. 720-742, 2004.

• Reallocation and Learning over the Business Cycle, European Economic Review, vol. 47/1, pp. 95-111, 2003.

• Firm Size Distribution and Growth, with P. Pagano, Scandinavian Journal of Economics, vol. 105, pp. 255-274, 2003.

• Uncertainty and the Slowdown of Capital Accumulation in Europe, with P. Caselli and P. Pagano, Applied Economics, vol. 35, pp. 79-89, 2003.

• Investment and Growth in Europe and the United States in the Nineties, with P. Caselli and P. Pagano, Rivista di Politica Economica, vol. 10, pp. 3-35, 2001.

• On Industry Life Cycle: Delay, Entry and Shakeout in Beer Brewing, with M. Horvath and M. Woywode, International Journal of Industrial Organization, vol. 19, pp. 1023-1052, 2001.

• Labor Market Rigidities, Unemployment and Growth, “Giornale degli Economisti e Annali di Economia, pp. 115-141, 2000,  in Italian with English abstract, English version available here.

Other published research papers, reports and discussions

• La domanda di assicurazione delle imprese. Risultati dall’Indagine Ania sull’Assicurazione nelle Piccole Imprese Italiane , with Luigi Guiso, Economia Italiana, 2017.

• Italy’s productivity conundrum. A study on resource misallocation in Italy, Discussion Papers No. 30, European Commission, DG ECFIN, with S. Calligaris, M. Del Gatto, F. Hassan, G. Ottaviano, 2016.

• Trade responses in Europe: is there anything we can infer from firm heterogeneity?, with Giorgio Barba Navaretti and Matteo Bugamelli, in “Recovery and bejond. Lessons for trade adjustment and competitivness”, F. Di Mauro and B. Mandel (editors), the European Central Bank.

• The global operations of European Firms, Policy report for the EFIGE project. With Giorgio Barba Navaretti, Matteo Bugamelli, Carlo Altomonte, Daniel Horgos and Daniela Maggioni.

• The euro and firm restructuring, with Matteo Bugamelli and Roberta Zizza, 2010, in “Europe and the euro”, A. Alesina and F. Giavazzi (editors), University of Chicago Press.

• Cross Country Differences in Patent Propensity: a Firm Level Investigation, with F. Lotti, “Giornale degli Economisti e Annali di Economia, New Issues in Economic Policy” Vol. 63, pp. 469-502, 2005.

• Le imprese e la specializzazione produttiva dell’Italia. Dal macrodeclino alla microcrescita?, (Firms and Italy’s productive specialization. From the macro-decline to the micro-growth?)  With G. Barba Navaretti, M. Bugamelli, R. Faini and A. Tucci. Report prepared for the Conference “I vantaggi dell’Italia” organized by the Fondazione Rodolfo de Benedetti in Rome, march 22nd 2007.  Il Mulino, 2007.

• Capital Structure and Productivity: an Analysis on Firm-Level Data, with F. Nucci and A. Pozzolo, Rivista di Politica Economica, Vol. 45, pp. 177-198, 2005.

• Competitività e terziarizzazione nell’economia globalizzata, Global Competition, N. 12, October 2007.