Publications
Journal articles:
"Life-cycle welfare losses from rules-of-thumb asset allocation", Economics Letters, 2020, in press (with C. Fugazza and G. Nicodano)
"Life-cycle portfolios, unemployment and human capital loss", Journal of Macroeconomics, 2019, 60, 325-340 (with C. Fugazza and G. Nicodano)
"It ain't over till it's over: a global perspective on the Great Moderation-Great Recession interconnection", Applied Economics, 2017, 49, 49, 4946-4969 (with C. Morana)
"Optimal life-cycle portfolios for heterogeneous workers", Review of Finance, 2014 18, 6, 2283-2323 (with C. Fugazza and G. Nicodano)
"Determinants of US financial fragility conditions", Research in International Business and Finance, 2014, 30, 1, 377-392 (with C. Morana)
"The Great Recession: US dynamics and spillovers to the world economy", Journal of Banking and Finance, 2012, 36, 1, 1-13 (with C. Morana)
"Permanent and Transitory Dynamics in House Prices and Consumption: Some Implications for the Real Effects of the Financial Crisis", Applied Financial Economics, 2010, 20, 1 & 2, 151-170 (with C. Morana)
"Business Cycle Comovement in the G-7: Common Shocks or Common Transmission Mechanisms?", Applied Economics, 2010, 42, 8, 2327-2345 (with C. Morana)
"International macroeconomic dynamics: a factor vector autoregressive approach", Economic Modelling, 2009, 26, 2, 432-444 (with C. Morana)
"Factor Vector Autoregressive Estimation: A New Approach", Journal of Economic Interaction and Coordination, 2008, 1, 15-23 (with C. Morana)
"Inflation and monetary dynamics in the
"The cyclical behavior of inventories: European cross-country evidence from the early 1990s recession", Applied Economics, 2004, 18, 2031-2044 (with A. Sembenelli)
"Measuring
"A common trends model of UK core inflation", Empirical Economics, 2003, 28, 1, 157-172 (with C. Morana)
"Core inflation in the Euro area", Applied Economics Letters, 2002, 9, 353-357 (with R. Golinelli and C. Morana)
"Bank competition and ECB’s monetary policy", Journal of Banking and Finance, 2000, 24, 6, 967-983 (with A. Dalmazzo and G. Marini)
"Liquidity, trading size and the coexistence of dealership and auction markets", Economic Notes, 2000, 29, 2, 179-199 (with A. Brandolini and A. Dalmazzo)
"Information from financial markets and VAR measures of monetary policy", European Economic Review, 1999, 43, 5, 825-837 (with C.A. Favero)
"Liquidation risks in the Rotemberg-Saloner implicit collusion model", Economics Letters, 1999, 62, 69-74 (with A. Dalmazzo)
"Measuring core inflation in Italy", Giornale degli Economisti e Annali di Economia, 1999, 58, 3-4, 301-328 (with C. Morana)
"Measuring monetary policy in VAR models: an evaluation"', European Economic Review, 1998, 42, 6, 1069-1112 (with C.A. Favero)
"Stock returns, the interest rate and inflation in Italy: a long-run perspective'', Giornale degli Economisti e Annali di Economia, 1997, 56, 3-4, 139-167 (with A. Beltratti)
"Money demand in a multivariate framework: a system analysis of Italian money demand in the `80s and early `90s'', Economic Notes, 1996, 25, 3, 425-464
"Do anticipated tax cuts matter? Further evidence from the
"Money demand instability, expectations and policy regimes. A note on the case of Italy 1964- 1986'', Journal of Banking and Finance, 1992, 16, 2, 331-349 (with C.A. Favero)
"On the role of monetary factors in business cycle models'', Recherches Economiques de Louvain/Louvain Economic Review, 1991, 57, 1, 3-19 (with G. Marini)
"Structural stability, short-run dynamics and long-run solutions in feedback models. The case of the money demand function for Italy: 1964-1986'', Giornale degli Economisti e Annali di Economia, 1988, 47, 11-12, 575-599 (with C.A. Favero)
Books:
"Economia Monetaria", Il Mulino, Bologna, 2010 (with G. Marotta)
Second revised edition More info
Supplementary material on Mulino/Aulaweb
"Models for Dynamic Macroeconomics", paperback ed.,
Oxford,
2007(with G. Bertola)
"Metodi dinamici e fenomeni macroeconomici", Il Mulino, Bologna, 1999 (with G. Bertola)
Book chapters:
"Macro-finance interactions in the US: a global perspective", in Balling M. and Llewellyn D.T. (eds.), New Paradigms in Monetary Theory and Policy?, SUERF Studies 2012/1, Larcier, Vienna, 2012, chapter 9, 141-162 (with C. Morana)
"The effects of US economic and financial crises on Euro area convergence", in W. Meeusen (editor), The Economic Crisis and European Integration, Edward Elgar, UK, 2011 (with C. Morana)
"Pension funds, life-cycle asset allocation, and performance evaluation", in R. Hinz, H. Rudolph, P. Antolin and J Yermo (editors) Evaluating the financial performance of pension funds, The World Bank, 2010, 159-202 (with C. Fugazza and G. Nicodano)
"Inflation modelling in the Euro Area" in R. Beetsma, C.A. Favero, A. Missale, V.A. Muscatelli, P. Natale and P. Tirelli (editors), Monetary Policy, Fiscal Policies and Labour Markets. Macroeconomic Policy Making in the EMU, Cambridge University Press, 2004, 59-87 (paperback edition, 2007) (with R. Golinelli and C. Morana)
"Heterogeneous behavior in exchange rate crises'', in J. Frenkel, G.P. Galli and A. Giovannini (editors), The Microstructure of Foreign Exchange Markets, National Bureau of Economic Research, University of Chicago Press, Chicago, 1996, p.229-253 (with A. Beltratti and G. Bertola)
"Cointegration and simultaneous models. An application to the Italian money demand'', in M. Bertocchi and L. Stefanini (editors), Large-scale economic and financial applications: new tools and methodologies, Franco Angeli, Milano, 1991, p. 219-235 (with C.A. Favero and V.A. Muscatelli)
Working papers:
"It ain't over till it's over: a global perspective on the Great Moderation-Great Recession interconnection" (with C. Morana) revised working paper version with Supplementary Appendix, February 2017, Carlo Alberto Notebooks n. 424
"A Life-Cycle Model with Unemployment Traps" (with C. Fugazza and G. Nicodano) - current version September 2017- submitted
"Revisiting Uncovered Interest Rate Parity" (with C.A. Favero and C. Macchiarelli) - current version July 2017- in progress
"Insider trading, traded volume and returns" (with C.A. Favero and G. Nicodano) - latest draft August 2011
"Measuring monetary policy in open economies", CEPR Discussion Paper n.2079, February 1999 (with C.A. Favero and F. Franco)
Publications in Italian:
"Le ragioni a favore di un sistema misto"', in E. Fornero and O. Castellino (editors), La riforma del sistema previdenziale italiano. Opzioni e proposte, CeRP-Il Mulino
"Canale creditizio del meccanismo di trasmissione della politica monetaria e intermediazione bancaria. Un'analisi dell'evidenza empirica'', in G. Vaciago (editor), Moneta e Finanza, Il Mulino, Bologna, 1998, 165-223 (with C.A. Favero)
"La politica monetaria nel dibattito fra spiegazioni "reali" e "monetarie" del ciclo economico: teoria ed evidenza empirica'', Annali della Fondazione 'L. Einaudi' 1993, Fondazione 'L. Einaudi', Torino, XXVII, 1993, 61-102
"Regole di condotta della politica monetaria ed instabilità della domanda di moneta'', Rassegna Economica, LV, 1991, 1, 5-35
"Cointegrazione, simultaneità ed errata specificazione. Un'applicazione alla domanda di moneta in Italia'', in Ricerche Applicate e Modelli per la Politica Economica, Banca d'Italia, Roma, 1991 (with C.A. Favero and V.A. Muscatelli)