If automation capital requires more electricity than traditional capital, an electricity tax serves the same purpose as a robot tax.
2022 (updated, July 2023)
The Euro Area Government Spending Multiplier in Demand- and Supply-Driven Recessions
(w/ 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.
2018 (updated, October 2022)
Endogenously (Non-)Ricardian Beliefs
(w/ 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.
(w/ 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.
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.