Working
Papers
Nonlinear Local Projections with Recoverble Shocks (with M. Forni and G. Ricco)
Macroeconomic Shocks and Crime (with N. Maffei-Faccioli and G. Mastrobuoni)Business Cycles Fluctuations in High- and Low-Information Regimes: An Empirical Investigation [.pdf]
Monetary Policy and Racial Unemployment Dynamics (with G. De Giorgi) [.pdf]
Geopolitical Risk Shocks: When Size Matters (with D. Brignoni and M. Ricci)
Generalised External Instrument SVAR Analysis (with M. Forni and G. Ricco) [.pdf]
Media Multipliers: Is There a Negativity Bias in Economic News? (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]
Journal Articles
33) Nonlinear Monetary Policy Tradeoffs (with D. Debortoli, M. Forni and L. Sala) Economic Journal https://doi.org/10.1093/ej/ueaf132. [.pdf]
32) Common Components Structural VARs (CCSVAR) (with M. Forni, M. Lippi and L. Sala) Journal of Business and Economic Statistics 1-14 https://doi.org/10.1080/07350015.2025.2495030. [.pdf]
31) Asymmetric Transmission of Oil Supply News (with M. Forni, A. Franconi and L. Sala) Quantitative Economics 16:947–979, 2025. [.pdf]
30) An American Macroeconomic Picture: Supply and Demand Shocks in the Frequency Domain (with M. Forni, A. Granese, L. Sala and S. Soccorsi) American Economic Journal: Macroeconomics 7(3):311-41, 2025. [.pdf]
29) Informing DSGE Models Through Dynamic Factor Models (with M. Forni, M. Lippi and L. Sala) Journal of Applied Econometrics https://doi.org/10.1002/jae.3122, 2025. [.pdf]
28) Noisy Monetary Policy Announcements (with T. Dahlhaus) Journal of Applied Econometrics https://doi.org/10.1002/jae.2024.3090, 2024. [.pdf]
27) The Effects of Monetary Policy on Macroeconomic Risk (with M. Forni, N. Maffei-Faccioli and L. Sala), European Economic Review https://doi.org/10.1016/j.euroecorev.2024.104789, 2024. [.pdf]
26) Life-Cycle Inequality: the Blacks and Whites Differential (with G. De Giorgi and C. Naguib) Journal of Economic Inequality, https://doi.org/10.1007/s10888-023-09618-1, 2024. [.pdf]
25) Downside and Upside Uncertainty Shocks (with M. Forni and L. Sala) Journal of European Economic Association, https://doi.org/10.1093/jeea/jvae024, 2024. [.pdf]
24) Nonlinear Transmission of Financial Shocks: Some New Evidence (with M. Forni, N. Maffei-Faccioli and L. Sala) Journal of Credit Money and Banking 56(1): 5-33, February 2024. [.pdf]
23) Macroeconomic Uncertainty and Vector Autoregressions (with M. Forni and L. Sala) Econometrics and Statistics, https://doi.org/10.1016/j.ecosta.2023.07.002, 2023. [.pdf]
22) The Asymmetric Effects of News through Uncertainty (with M. Forni and L. Sala) Macroeconomic Dynamics, doi:10.1017/S1365100522000736, 2023. [.pdf]
21) Policy and Business Cycle Shocks: A Structural Factor Model Representation of the US Economy (with M. Forni) Journal of Risk and Finanical management, 14(8), 371, 2021. [.pdf]
20) The Effects of the ECB's Asset Purchase Programme (with A. Musso) European Economic Review, 130(C), 2020. [.pdf] [Annexes]
19) Structural VARs and Non-invertible Macroeconomic Models (with M. Forni and L. Sala), Journal of Applied Econometrics, 34(2): 221-246, 2019. [.pdf]
18) Evolving Wage Cyclicality in Latin America (with J. Messina), The World Bank Economic Review, 32(3) 709-726, 2018. [.pdf]
17) Noisy News in Business Cycle (with M. Forni, M. Lippi and L. Sala), American
Economic Journal: Macroeconomics, 9(4):122-52, 2017. [.pdf]
15) Noise Bubbles (with M. Forni, M. Lippi and L.
Sala), Economic Journal, 127(604): 1940-1976, 2017. [.pdf]
14) Business Cycle Fluctuations and the Distribution of Consumption (with G. DeGiorgi), Review of Economic Dynamics, 23:19-41, 2017. [.pdf]
13) Government Spending Shocks in Open Economy
VARs (with M. Forni), Journal of International Economics, 99:68-84, 2016. [.pdf]
12) The Effects of Monetary Policy on Stock
Market Bubbles: Some Evidence (with J. Galí) American
Economic Journal: Macroeconomics, 7(1): 233-257, 2015. [.pdf] [replication files]
11) Sufficient Information in Structural VARs (with M. Forni) Journal
of Monetary Economics, 66(C):124-136, 2014. [.pdf]
10) No News in Business Cycles (with M. Forni and L.
Sala) Economic Journal, 124(581):1168-1191, 2014. [.pdf]
9) Macroeconomic Forecasting and Structural
Change (with A. D'Agostino and D. Giannone) Journal of Applied Econometrics,
28(1) 82-101, 2013 [.pdf]
8) The Dynamic Effects of Monetary Policy:
A Structural Factor Model Approach (with M. Forni), Journal of Monetary Economics, 57(2):203-213,
2010. [.pdf] [replication
files]
7) Do Inflation Expectations Matter? The
Great Moderation Revisited (with F. Canova),
American Economic Journal: Macroeconomics, 2:183-205, 2010. [.pdf]
6) On the Sources of the Great Moderation (with J. Galí), American Economic Journal: Macroeconomics, 1(1):26-57,
2009. [.pdf] [replication files]
5) Structural Changes in the US Economy: Is
There a Role for Monetary Policy? (with F. Canova), Journal of Economic
Dynamics and Control, 33(2):477-490, 2009. [.pdf] [replication
files]
4) The Structural Dynamics of Output and
Inflation: What Explains the Changes? (with
F. Canova and E. Pappa), Journal of Money Credit and Banking, 40(2-3):369-388, 2008. [.pdf]
3) The Structural Dynamics of Output Growth
and Inflation: Some International Evidence (with F. Canova and E. Pappa), Economic Journal, C167-C191, 03, 2007. [.pdf]
2) Policy Matters. The Long-Run Effects of Aggregate
Demand and Mark Up Shocks on the Italian
Unemployment Rate (with
B. Pistoresi), Empirical Economics, 29:209-226, 2004. [.pdf]
1) The Real Effects of a Monetary Policy Shock: A New VAR Identification Procedure, Rivista di Politica Economica, XII: 149-169, 1999. [.pdf]
Book Chapters
6) Structural Vactor Autoregressions, Elsevier Encyclopedia of Measurement in Social Sciences forthcoming.
5) The Effects of News Shocks and Monetary Policy (with C. Görtz, D. Korobilis, J. Tsoukalas and F. Zanetti) Advances in Econometrics, Volume 44A, 2022.[.pdf]
4) Shocks, Information and Structural VARs Oxford Research Encyclopedia of Economics and Finance, Oxford University Press, April 2021. [.pdf]
3) Structural Vector Autoregressive Models Oxford Research Encyclopedia of Economics and Finance, Oxford University Press, August 2020. [.pdf]
2) On the Empricial (Ir)Relevance of the Zero Lower Bound Constraint (with D. Debortoli and J. Galí) NBER Macroeconomics Annual 2019, 2020.[.pdf]
1) Has the U.S. Wage Phillips Curve Flattened? A Semi-Structural Exploration (with J. Gali) in G. Castex J. Gali and D. Saravia (eds.), 2020, Changing Inflation Dynamics, Evolving Monetary Policy, Central Bank of Chile. [.pdf]