Working
Papers
Information Cycles and Macroeconomic Fluctuations: Some Empirical Evidence
Nonlinear Local Projections with Noisy Instruments (with M. Forni and G. Ricco)
Macroeconomic Shocks and Crime (with N. Maffei-Faccioli and G. Mastrobuoni)
An American Macroeconomic Picture: Supply and Demand Shocks in the Frequency Domain (with M. Forni, A. Granese, L. Sala and S. Soccorsi) conditional acceptance, American Economic Journal: Macroeconomics. [.pdf]
Asymmetric Transmission of Oil Supply News (with M. Forni, A. Franconi and L. Sala) [.pdf]
Generalized External Instrument SVAR Analysis (with M. Forni and G. Ricco) [.pdf]
Validating DSGE Models through Dynamic Factor Models (with M. Forni, M. Lippi and L. Sala) [.pdf]
Asymmetric Monetary Policy Tradeoffs (with D. Debortoli, M. Forni and L. Sala) [.pdf]
Common Components Structural VARs (CCSVAR) (with M. Forni, M. Lippi and L. Sala) [.pdf]
Is There a Negativity Bias in News Coverage? (with N. Maffei-Faccioli and S. Zoi) [.pdf]
Shocking Policy Coefficients [.pdf]
Reduced-Rank Time-Varying Vector Autregressions (with J. de Wind) [.pdf]
Fiscal Foresight and the Effects of Government Spending (with M. Forni) [.pdf]
Technology Shocks and the Response of Hours Worked: Time-Varying Dynamics Matter [.pdf]
Publications
The Effects of Monetary Policy on Macroeconomic Risk (with M. Forni, N. Maffei-Faccioli and L. Sala), forthcoming in European Economic Review. [.pdf]
Noisy Monetary Policy Announcements (with T. Dahlhaus) forthcoming in Journal of Applied Econometrics. [.pdf]
Life-Cycle Inequality: the Blacks and Whites Differential (with Giacomo De Giorgi and Costanza Naguib) https://doi.org/10.1007/s10888-023-09618-1, Journal of Economic Inequality, 2024. [.pdf]
Downside and Upside Uncertainty Shocks (with Mario Forni and Luca Sala) https://doi.org/10.1093/jeea/jvae024 Journal of European Economic Association, 2024. [.pdf]
Nonlinear Transmission of Financial Shocks: Some New Evidence (with Mario Forni, Nicolò Maffei-Faccioli and Luca Sala) Journal of Credit Money and Banking 56(1): 5-33, February 2024. [.pdf]
Macroeconomic Uncertainty and Vector Autoregressions (with Mario Forni and Luca Sala) https://doi.org/10.1016/j.ecosta.2023.07.002 Econometrics and Statistics, 2023. [.pdf]
The Asymmetric Effects of News through Uncertainty (with Mario Forni and Luca Sala) doi:10.1017/S1365100522000736 Macroeconomic Dynamics, 2023. [.pdf]
The Effects of News Shocks and Monetary Policy (with C. Görtz, D. Korobilis, J. Tsoukalas and F. Zanetti) [.pdf] Advances in Econometrics, Volume 44A: Essays in Honor of Fabio Canova, 2022.
Policy and Business Cycle Shocks: A Structural Factor Model Representation of the US Economy (with Mario Forni) [.pdf], forthcoming in Journal of Risk and Finanical management, 14(8), 371, 2021.
Shocks, Information and Structural VARs [.pdf] Oxford Research Encyclopedia of Economics and Finance, Oxford University Press, April 2021.
The Effects of the ECB's Asset Purchase Programme (with Alberto Musso) [.pdf] [Annexes] European Economic Review, 130(C), 2020.
On the Empricial (Ir)Relevance of the Zero Lower Bound Constraint (with Davide Debortoli and Jordi Galí) [.pdf] NBER Macroeconomics Annual 2019, 2020.
Has the U.S. Wage Phillips Curve Flattened? A Semi-Structural Exploration (with Jordi Gali) [.pdf] in G. Castex J. Gali and D. Saravia (eds.), 2020, Changing Inflation Dynamics, Evolving Monetary Policy, Central Bank of Chile.
Structural VARs and Non-invertible Macroeconomic Models (with Mario Forni and Luca Sala), Journal of Applied Econometrics, 34(2): 221-246, 2019. [.pdf]
Evolving Wage Cyclicality in Latin America (with Julian Messina), The World Bank Economic Review, 32(3) 709-726, 2018. [.pdf]
Noisy News in Business Cycle (with Mario Forni, Marco
Lippi and Luca Sala), American
Economic Journal: Macroeconomics, 9(4):122-52, 2017. [.pdf]
Noise Bubbles (with Mario Forni, Marco Lippi and Luca
Sala), Economic Journal, 127(604): 1940-1976, 2017. [.pdf]
Business Cycle Fluctuations and the Distribution of Consumption (with Giacomo DeGiorgi), Review of Economic Dynamics, 23:19-41, 2017. [.pdf]
Government Spending Shocks in Open Economy
VARs (with Mario Forni), Journal of International Economics, 99:68-84, 2016. [.pdf]
The Effects of Monetary Policy on Stock
Market Bubbles: Some Evidence (with Jordi Gali) American
Economic Journal: Macroeconomics, 7(1): 233-257, 2015. [.pdf] [replication files]
Sufficient Information in Structural VARs (with Mario Forni) Journal
of Monetary Economics, 66(C):124-136, 2014. [.pdf]
No News in Business Cycles (with Mario Forni and Luca
Sala) Economic Journal, 124(581):1168-1191, 2014. [.pdf]
Macroeconomic Forecasting and Structural
Change (with Antonello D'Agostino and Domenico Giannone) Journal of Applied Econometrics,
28(1) 82-101, 2013 [.pdf]
The Dynamic Effects of Monetary Policy:
A Structural Factor Model Approach (with Mario Forni), Journal of Monetary Economics, 57(2):203-213,
2010. [.pdf] [replication
files]
Do Inflation Expectations Matter? The
Great Moderation Revisited (with Fabio Canova),
American Economic Journal: Macroeconomics, 2:183-205, 2010. [.pdf]
On the Sources of the Great Moderation (with Jordi Gali), American Economic Journal: Macroeconomics, 1(1):26-57,
2009. [.pdf] [replication files]
Structural Changes in the US Economy: Is
There a Role for Monetary Policy? (with Fabio Canova), Journal of Economic
Dynamics and Control, 33(2):477-490, 2009. [.pdf] [replication
files]
The Structural Dynamics of Output and
Inflation: What Explains the Changes? (with
Fabio Canova and Evi Pappa), Journal of Money Credit and Banking, 40(2-3):369-388, 2008. [.pdf]
The Structural Dynamics of Output Growth
and Inflation: Some International Evidence (with Fabio Canova and Evi Pappa), Economic Journal, C167-C191, 03, 2007. [.pdf]
Policy Matters. The Long-Run Effects of Aggregate
Demand and Mark Up Shocks on the Italian
Unemployment Rate (with
Barbara Pistoresi), Empirical Economics, 29:209-226, 2004. [.pdf]
The Real Effects of a Monetary Policy
Shock: A New VAR Identification Procedure, Rivista di Politica Economica,
XII: 149-169, 1999. [.pdf]