My research interests include the effects of policy and macroeconomic shocks on international financial markets and capital flows. I explore these themes from an empirical standpoint. 

Beyond military sales: the market premium on dual-use R&D in the defence sector

with Fabrizio Ferriani and Livia Ristuccia

Economics Letters, 2026

VoxEU 20/11/2025

Is there a bubble in the US stock market? Evidence from an agnostic valuation procedure

with Valerio Nispi Landi and Marco Taboga

VoxEU 08/09/2025 

Questioni di Economia e Finanza N. 975

Politics will tear us apart, again. Geopolitical risk, fragmentation, and capital flows

SUERF Policy brief 

Questioni di Economia e Finanza N. 964 

US election risks and the impact of Trump’s re-election odds on financial markets

with Alessandro Moro and Valerio Nispi Landi 

Draft and VoxEu 16/07/2024

The gravity of Offshore Financial Centers: Estimating real FDIs using a binary choice model

with Alessio Anzuini, Fabrizio Ferriani and Luca Rossi

International Economics, 2024

Questioni di Economia e Finanza N. 805

The impact of restrictions on FDI

with Flavia Corneli, Valerio Nispi Landi and Alessandro Schiavone

Questioni di Economia e Finanza N. 656

Other works

UIP deviations and cross-border interbank exposures with Flavia Corneli, Marco Gortan, Alessandro Moro and Valerio Nispi Landi 

I was a member of the BIS-CGFS working group on Foreign currency funding risk and cross-border liquidity.