WORKING PAPERS:

• Revolving Credit to SMEs: The Role of Business Credit Cards

(with Greg Buchak)

Updated: May 2025. Revision requested at American Economic Review.

• Financial Shocks and Credit Dislocation: The Role of Integrated Manufacturer-Lenders

(with Sergio Mayordomo and Daniel Paravisini)

Winner of the Arthur Warga Award for Best Paper in Fixed Income at SFS Cavalcade,  Zoom May 2021

Updated: April 2025.

• Celebrity Persuasion

(with William Mullins, Marina Niessner and Jan Toczynski)

Updated: June 2025.

• Does Climate Change Adaptation Matter? Evidence from the City on the Water

(with Simone Emiliozzi, Elisa Guglielminetti, Michele Loberto and Alessandro Mistretta)

Updated: April 2025. 

• Dynastic Home Equity

(with Marianna Kudlyak and John Mondragon)

A short summary in this FRBSF Economic Letter

Updated: December 2024.

• When Cryptomining Comes to Town: High Electricity-use Spillovers to the Local Economy

(with Giovanni Compiani and Adair Morse)

Updated: May 2024.

PUBLISHED AND ACCEPTED PAPERS:

• Mortgage Pricing and Monetary Policy

(with Alessandro Gavazza and Paolo Surico) 

American Economic Review, Vol. 115, Issue 3 (March 2025), pp. 823--863.

Online Appendix. Replication Package.

• Investors' Beliefs and Cryptocurrency Prices 

(with Giovanni Compiani)

Review of Asset Pricing Studies, Vol. 14, Issue 2 (June 2024), pp. 197--236. Editor's Choice.

Online Appendix, Replication Package.

• Index Providers: Whales Behind the Scenes of ETFs

(with Yu An and Yang Song)

Dimensional Fund Advisors Best Paper Award (runner-up), UT Austin AIM Investment Conference, April 2022

Journal of Financial Economics, Vol. 149, Issue 3 (September 2023), pp. 407--433. Editor's Choice.

Replication Package.

• Housing Consumption and Investment: Evidence from Shared Equity Mortgages 

(with Philippe Bracke, Joao Cocco and Nic Garbarino)

Review of Financial Studies, Vol.35, No. 8 (August, 2022), pp. 3525--3573. Lead Article.

Online Appendix, Replication Package.

• Leverage Regulation and Market Structure: A Structural Model of the UK Mortgage Market

Journal of Finance, Vol. 76, No. 6 (December, 2021), pp. 2997--3053.

Winner of the CEPR Household Finance Best Student Paper Award,  Copenhagen April 2017

Winner of the EARIE Paul Geroski Prize for the most significant policy contribution, Maastricht September 2017

Presentation video at the Utah Winter Finance Conference

Online Appendix, Replication Package.

• Targeted Monetary Policy and Bank Lending Behavior

(with Davide Fantino)

Journal of Financial Economics, Vol. 142, No. 1 (October, 2021), pp. 404--429.

A previous version appeared as Bank of Italy Working Paper No. 1187.

• Capital Requirements and Mortgage Pricing: Evidence from Basel II 

(with Peter Eckley, Nic Garbarino, Liam Kirwin and Georgia Latsi)

Journal of Financial Intermediation, Vol. 48 (October, 2021), pp. 100883.

• The Role of Prepayment Penalties in Mortgage Loans 

(with Andrea Beltratti and Alessandro Gavazza)  

Journal of Banking and Finance, Vol. 82 (September, 2017), pp. 165-179.