Research and Publications

Notes:

Please visit google scholar and repec for additional research and publications.

New:

• “Fiscal Policies for a Sustainable Recovery and a Green Transformation“, with M. Catalano, World Bank Policy Research Working Paper 9799, October 2021.
• “Global liquidity and dollar debts of emerging market corporates”, VoxEu Op-ed; January 2021.
• “Fiscal tools to reduce the transition costs of climate change mitigation“, with M. Catalano, and E. Pezzolla, October 2020.
• “Allungare la vita media del debito pubblico per ridurre le emissioni annue”, with M.V. Bresciani e S. Passeri, Gennaio 2019.

Journal Publications:

• “A machine learning approach to rank the determinants of banking crises over
  time and across countries”, with E.J. Casabianca, M. Catalano, E. Giarda and S. Passeri, JIMF September 2022.
• “L’Italia dopo il Next Generation EU: scenari a confronto“, con L. Cossaro e S. Tomasini, Economia Italiana, 2021.
• “Sovereign Debt Restructuring and Growth”, with G. Palomba, J. Pereira, and C. Richmond, Oxford Economics Papers, 2020.
• “Private and Public Debt Interlinkages in Bad Times“, with M. Bernardini, Journal of International Money and Finance, Volume 109, December 2020.
• “Climate Change Adaptation- the Role of Fiscal Policy”, with M. Catalano and E. Pezzolla, Resource and Energy Economics, 2019.
• “Fiscal Rules to Tame the Political Budget Cycle- Evidence from Italian Municipalities”, with A. Bonfatti, European Journal of Political Economy, 2019.
• “Macroeconomic effects of sovereign restructuring in a monetary union: a model-based approach”, with M. Pisani, 2018, Macroeconomic Dynamics, 22, 470–500.
• “Public Employment and Compensation Reform during Times of Fiscal Consolidation”, with N. Novta, International Tax and Public Finance, 2016, 23:960–979.
• “Euro area and global oil shocks: an empirical model-based analysis”, with A. Gerali, A. Notarpietro and M. Pisani, 2015, Journal of Macroeconomics, 46(C), pages 295-314.
• “Fiscal Multipliers: Size, Determinants, and Use in Macroeconomic Projections”, with N. Batini, L. Eyraud, and A. Weber, IMF Technical Notes and Manual, 2014.
• “Pricing of Sovereign Risk: Evidence from Advanced Economies during the Recent Financial Crisis”, with E. Alper and M. Gerard, International Finance, 2013, Vol.16, n. 2.
• “The Macroeconomics of Fiscal Consolidations in Euro area Countries“
  with Andrea Gerali e Massimiliano Pisani, Bank of Italy, September 2010. Journal of Economic Dynamics and Control, Volume 34, Issue 9.
• “Macroeconomic Effects of Greater Competition in the Service Sector: the Case of Italy“, with Andrea Gerali e Massimiliano Pisani, Macroeconomic Dynamics, Volume 14, October 2010 (previously Bank of Italy Working Paper n.7006).
• “The General Equilibrium Effects of Fiscal Policy: Estimates for the Euro Area“ with Libero Monteforte and Luca Sessa, July 2008. Journal of Public Economics 93 (2009) 559-585. Find here the previous version (previously Bank of Italy Working Paper n.652).
• “Inflation Convengerce and Divergence within the European Monetary Union” with F. Busetti, A. Harvey and F. Venditti, International Journal of Central Banking, Vol. 3 n.2, 2007 (previously ECB Working Paper Series n. 574, 2006).
• “Social Security as Markov Equilibrium in OLG models“ Review of Economic Dynamics, Vol. 8 n.1, 2005.
• “Cyclical Sensitivity of Fiscal Policies based on Real Time Data“ with S. Momigliano, Applied Economics Quarterly, Vol. 50 n. 3, 2004 (previously Bank of Italy Working Paper n. 540, 2004).
• “The Mismatch Between Life Insurance Holdings and Financial Vulnerabilities: Evidence from the Health and Retirement Study“ with B.D. Bernheim, J. Gokhale and L.J. Kotlikoff, American Economic Review, Vol. 93 n.1, 2003.
• “Funding a PAYG Pension System: the Case of Italy” with R. Giordano, Fiscal Studies, December 2001. A previous version (in Spanish) of this paper has been published on Cuadernos Economicos, issue n. 65 edited by M. Boldrin on “Crisis y reformas de los sistemas de seguridad social”, 1999.
• “Dalla Ripartizione alla Capitalizzazione: una Transizione Possibile per il Sistema Pensionistico Italiano?” Politica Economica 1/2001.
• “Dalla Ripartizione alla Capitalizzazione: una Transizione Possibile per il Sistema Pensionistico Italiano? Commento” Politica Economica 3/2001.
• “How Much Should Americans Be Saving for Retirement?” with B.D. Bernheim, J. Gokhale and L.J. Kotlikoff, American Economic Review, Vol. 90 n.2, 2000.

Book publications:

• “Escaping high debt: the narrow path ahead”, with M. Moreno Badia, in Post-Crisis Fiscal Policy, C. Cottarelli, P. Gerson and A. Senhadji editors, MIT Press, 2014.
•  “The crisis and policy response in the Euro area” with M. De Broeck and M. Guerguil, in Post-Crisis Fiscal Policy, C. Cottarelli, P. Gerson and A. Senhadji editors, MIT Press, 2014.
• “An Analysis of Retirement Expectations using the Health and Retirement Study”, in Ricerche Quantitative per la Politica Economica, Bank of Italy, 2003.
• “An Economic Approach to Setting Retirement Saving Goals”, with B.D. Bernheim, J. Gokhale and L.J. Kotlikoff, in Innovation in Retirement Financing, O. Mitchell, Z. Bodie, P.B. Hammond and S. Zeldes editors, University of Pennsylvania Press, 2002.

Working papers:

• “Public Debt in Advanced Economies and its Spillover Effects on Long-term yields”, with E. Alper, IMF WP/11/210, August 2011.
• “Default in Today’s Advanced Economies: Unnecessary, Undesirable, and Unlikely”, with Carlo Cottarelli, Jan Gottschalk, and Paolo Mauro. IMF Staff Position Note, September 2010.
• “The Effectiveness of Fiscal Policy in the Euro Area: the Role of Coordination”, with Massimiliano Pisani, Bank of Italy mimeo, August 2010.