2022 (March)
The Euro Area Government Spending Multiplier in Demand- and Supply-Driven Recessions
(with Mario Di Serio, Matteo Fragetta and Giovanni Melina)
Euro Area government spending multipliers in a demand-driven recession are 2-3 times larger than in a supply-driven recession.
2020 (updated, December 2021)
Price setting frequency and the Phillips curve
(with Alex Grimaud)
Firms' time-varying price setting frequency explains Phillips curve shifts and improves the New Keynesian model's fit to macro and micro data.
2018 (updated, August 2020)
Endogenously (Non-)Ricardian Beliefs
(with William Branch)
A paper on multiple equilibria featuring both Ricardian and non-Ricardian outcomes that impact inflation dynamics.
2018 (updated, January 2021)
Does One Size Fit All in the Euro Area? Some Counterfactual Evidence.
(with Sergio Destefanis and Matteo Fragetta)
This paper empirically examines whether Euro Area countries would have faced a more favorable inflation output variability tradeoff without the Euro.
2011
Heterogeneous Expectations, Taylor Rules and the Merit of Monetary Policy Inertia
The paper shows that policy inertia is an effective tool to safeguard the economy against local explosiveness in a model with heterogeneous expectations.