Research

Working papers

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.

Publications

Automation, Stagnation, and the Implications of a Robot Tax (with Klaus Prettner)

2022. Macroeconomic Dynamics, 26(1):218-249.

Optimal Constrained Interest-Rate Rules under Heterogeneous Expectations

2021. Journal of Economic Behavior and Organization, 190:287-325.

The Government Spending Multiplier at the Zero Lower Bound: Evidence from the United States (with Mario Di Serio and Matteo Fragetta)

2020. Oxford Bulletin of Economics and Statistics, 82(6):1262-1294.

Do Heterogeneous Expectations Constitute a Challenge for Policy Interaction?

2018. Macroeconomic Dynamics, 22(8):2107-2140.

Heterogeneous Expectations, Optimal Monetary Policy and the Merit of Policy Inertia

2014. Journal of Money, Credit and Banking, 46(7):1535-1554.

Anticipation, Learning and Welfare: the Case of Distortionary Taxation (with Shoujian Zhang)

2014. Journal of Economic Dynamics and Control, 39(C):113-126.

Fiscal Foresight, Limited Information and the Effects of Government Spending Shocks (with Matteo Fragetta)

2014. Oxford Bulletin of Economics and Statistics, 76(5):667-692.