Publications
Structural change and firm dynamics in Southern of Italy (with R. Bronzini, E. Gentili, A. Linarello, E. Scarinzi), Structural Change and Economic Dynamics, Feb 2023.
Short abstract: We study the structural change occurred in the last two decades in Italy. Three main results. First, between 2001 and 2018 the deindustrialization process in the Centre North followed a long-run trend that started before the 2008 crisis, while in the South it started afterward. Second, productivity growth slowed down in the Centre North, while it fell in the South. Third, employment growth was driven in the Centre North by the net creation of jobs of large and incumbents firms, while in in the South it reflected entry and exit of firms especially in less knowledge services. Also Bank of Italy Occasional Papers, no. 676.Participatory incentives (with Daniela Grieco), Experimental economics, Apr 2023.
Participation of charity beneficiaries (with Daniela Grieco), Journal of Economic Behaviour and Organization, Jul 2022. Paper presented at the University of Toronto, University of Milano and University of Bologna seminar series, the UNU-WIDER Workshop on ‘Discrimination and Affirmative Action: What have we learnt so far?’ in Helsinki, the Symposium on Economic Experiments in Developing Countries in Prague, the Royal Economic Society 2018 in Brighton and the 2019 SPI Conference at the University of Chicago.
Services trade and labour market outcomes : evidence from Italian firms (with Omar Bamieh and Matteo Fiorini), Review of International Economics, Oct. 2021. The working paper version is: RSCAS Working paper no. 39, 2020. Part of the material of the WP has been used in the OECD Report "Services trade and labour market outcomes", edited by A. Lassmann, OECD Trade Policy Papers No. 239.
Services trade and credit frictions: evidence with matched bank–firm data (with D. Revelli and D. Loschiavo), The World Economy, 43 (5), 2020, pp. 1216-1252.
The role of regulation on entry: evidence from the Italian provinces, The World Bank Economic Review 30 (2), 2016, pp. 383-411 .
Working papers
The impact of credit substitution between banks on investment. Bank of Italy Working Paper (NEW)!
The paper has been presented at the ASSA Meeting 2024!
Short abstract: This paper estimates the elasticity of substitution across banks using matched bank-firm data from Italy. Credit supply shocks have a significant effect on corporations' investment in industries with the lower elasticity of substitution, because in these industries firms face more difficulty at obtaining credit from other lenders. The effect of the elasticity of substitution on investments offsets that of bank specialization, thus highlighting a new role of this measure for macro-prudential policy makers.
Work in progress
Institutions, Services Reforms and Manufacturing Productivity: The Case of Italian Firms (with O. Bamieh, C. Beverelli, M. Fiorini and B. Hoekman) 2017. dormant.
Policy papers
Business travel, multinational firms and international trade, Occasional Papers, Bank of Italy, no. 523, 2019.
Foreign direct investment and international trade in services: an analysis based on balance of payments microdata (with C. Bentivogli, A. Carboni, L. Cherubini, E. Laurenza, A. Locatelli, P. Monti, E. Nencioni, V. Pellegrini, D. Scalise ), Occasional Papers, Bank of Italy, no. 327, 2016.
Professional Services Regulation between market failures and rents (2008), paper presented at the annual conference of the European Association of Law and Economics, Haifa (Israel).
Other policy works
New Owners in companies (with A. De Ruvo). mimeo (2023) .
Firm demography and structural change (with M. Mancinelli). The Economy of the Italian Regions, Bank of Italy (2022).
Remote work (with S. Soncin). The Economy of the Italian Regions, Bank of Italy Regional Economies (2021).