Zema, S.M., F. Cordoni. (2025). A unifying non-Gaussian information share approach to price discovery. Job Market Paper.
S.M. Zema. (2025). Still Stalking the Efficient Price: Thirty Years of Advances and Open Challenges in Price Discovery. Work in Progress.
Orlandini, M., S.M. Zema., G. Fagiolo, M. Napoletano (2025). A Network Approach to Volatility Diffusion and Forecasting in Global Financial Markets. GREDEG Working Papers 2025-19
Luzzati, D., G. Fagiolo, S.M. Zema (2025). Link or Languish? A Long-Run Empirical Analysis of Production Network Positioning, Embeddedness, and Growth.
Zema, S., M. (2022). Directed acyclic graph based information shares for price discovery. Journal of Economic Dynamics and Control, 139: 104434.
Zema, S., M. (2023). Uncovering the network structure of non-centrally cleared derivative markets: evidence from large regulatory data. Empirical Economics 65, 1799-1822 . A previous version is available as ECB Working Paper Series No. 2721.
Zema, S.M., Fagiolo, G., Squartini, T. and Garlaschelli, D. (2024). Mesoscopic structure of the stock market and portfolio optimization. Journal of Economic Interaction and Coordination, 1-27.
Mosk, B., Pangallo, L., Zema, S.M. (2022). Cross-asset correlations in a more inflationary environment and challenges for diversification strategies. Financial Stability Review Issue 2, 2022.
Ianiro, A., Weistroffer, C., Zema, S.M. (2022). Synthetic leverage and margining in non-bank financial institutions. Financial Stability Review Issue 1, 2022.
Carraro, T., Furtuna. O., Ghio, M., Kallage, K., O' Donnel, C., Rousová, L., Vacirca, F., Zema, S.M. (2021). Lessons learned from initial margin calls during the March 2020 market turmoil. Financial Stability Review Issue 2, 2021.
Review of margining practices (2022). Technical Report, Bank of International Settlements (BIS).