"Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium"
The Review of Economic Studies, 2025, 92 (4), 2197-2227
Previously circulated as “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”
"An International Perspective on Inflation during the Covid-19 Recovery"
Forthcoming in 2025
G. Ascari and R. Trezzi (eds.), Research Handbook on Inflation.
"Social Capital, Government Expenditures, and Growth"
Journal of the European Economic Association, 2025, 23 (2), 632-681
"Hegemony and International Alignment"
American Economic Association: Papers & Proceedings, 2025, 115, 593-598
"On the Optimal Design of a Financial Stability Fund"
Forthcoming in The Review of Economic Studies, 2025
"The Global Financial Resource Curse"
American Economic Review, 2024, 115 (1), 220-262
"Jim Crow and Black Economic Progress After Slavery"
Quarterly Journal of Economics, 2024, 139 (4), 2279-2330
"Idiosyncratic Income Risk and Aggregate Fluctuations"
American Economic Journal: Macroeconomics, 2024, 16(4), 279–310
"All Aboard: The Effects of Port Development"
Journal of International Economics, 2024, Volume 151, 103963
"Returns to labour mobility"
The Economic Journal, 2024, 135, 430–454
"Security Design in Non-Exclusive Markets with Asymmetric Information"
The Review of Economic Studies, 2024, 91(2), 690–719
"Optimal Monetary Policy with r*< 0"
Journal of Monetary Economics, 2024, 142, article 103518
"Q-Monetary Transmission"
Journal of Political Economy, 2024, 132 (3), 971-1012
"A Worker’s Backpack as Alternative to the Spanish PAYG Pension System"
Journal of the European Economic Association, 2023, 21 (5), 1944-1993
"On a Lender of Last Resort with a Central Bank and a Stability Fund"
Review of Economic Dynamics, 2023, 50, 106-130
"Making Sovereign Debt Safe with a Financial Stability Fund"
Journal of International Economics, 2023, 145, article 103834
"Cross-Phenomenon Restrictions: Unemployment Effects of Layoff Costs and Quit Turbulence"
Review of Economic Dynamics, 2023, 50, 43-60
"Bilateral International Investments: The Big Sur?"
Journal of International Economics, 2023, 145, article 103795
Read a non-technical summary on VOXEU
"On the Design of a European Unemployment Insurance System"
European Economic Review, 2023, 156, article 104469
"Herding through booms and busts*"
Journal of Economic Theory, 2023, 210, article 105669
"The Scars of Supply Shocks"
Journal of Monetary Economics, 2023, 140, 18-36
"Exploring European Regional Trade"
Journal of International Economics, 2023, 146, article 103747
"Hinterlands, city formation and growth: Evidence from the U.S. westward expansion"
The Review of Economic Studies, 2023, 90(6), 3238-3281
"The Good, the Bad and the Complex: Product Design with Imperfect Information"
American Economic Journal: Microeconomics, 2023, 15(2), 187–226
"Pareto-Improving Optimal Capital and Labor Taxes"
Journal of Political Economy, 2023, 131 (7), 1904-1946
"Mismatch Cycles"
Journal of Political Economy, 2022, 130/11
"Bayesian Learning"
Handbook of Economic Expectations, 2022, Chapter 23
"Reserve Accumulation, Growth and Financial Crises"
Journal of International Economics, 2022, 139, article 103660
"State Dependence of Fiscal Multipliers: The Source of Fluctuations Matters"
Journal of Monetary Economics, 2022, 132, 1-23
"Trade and Urbanization: Evidence from Hungary"
American Economic Journal: Microeconomics, 2022, 14 (3), 733-790
"A Theory of Monetary Union and Financial Integration"
The Review of Economic Studies, 2022, 89 (4), 1911-1947
Previously circulated as “Monetary Union and Financial Integration”
"Globalization and Political Structure"
Journal of the European Economic Association, 2022, 20 (3), 1276-1310
"Quantitative Economic Geography meets History: Questions, Answers and Challenges"
Regional Science and Urban Economics, 2022, 94, Article 103675
"Fiscal Multipliers and Foreign Holdings of Public Debt"
The Review of Economic Studies, 2022, 89 (3), 1155-1204
Appendix
Data and Replication Files
Read a non-technical summary on VOXEU
"Assortative Learning"
Econometrica-Centennial Issue, 2022, 89 (355), 647-688
"Collateral Booms and Information Depletion"
The Review of Economic Studies, 2022, 89 (2), 517–555
Read a non-technical summary in VOXEU.
"How Stimulative are Low Real Interest Rates for Intangible Capital?"
European Economic Review, 2022, 142, article 103987
"Insider-Outsider Labor Markets, Hysteresis and Monetary Policy"
Journal of Money, Credit and Banking, 2022, 54(S1), 53-88
"JUE Insight: The Geography of Pandemic Containment"
Journal of Urban Economics, 2022, 127, article 103373
"A New Approach to Measuring Economic Policy Shocks, with an Application to Conventional and Unconventional Monetary Policy"
Quantitative Economics, 2021, 12 (4), 1085-1138
"Monetary Policy and Production Networks: An Empirical Investigation"
Journal of Monetary Economics, 2021, 19, 21-39
"The Commitment Benefit of Consols in Government Debt Management"
American Economic Review: Insights, 2021, 4(2), 255–270
"Monetary Policy and Asset Price Bubbles: A Laboratory Experiment"
Journal of Economic Dynamics and Control, 2021, 130, 1-15
"The Phillips Multiplier"
Journal of Monetary Economics, 2021, 117, 689-705
"Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies"
Journal of Monetary Economics, 2021, 119, 1-20
"Optimal Fiscal Policy without Commitment: Revisiting Lucas-Stokey"
Journal of Political Economy, 2021, 129(5), 1640-1665
"Cyclical Fluctuations, Financial Shocks, and the Entry of Fast-Growing Entrepreneurial Startups"
Review of Financial Studies, 2021, 34(5), 2508–2548
"Green Urbanization"
PLoS ONE, 2021, 16(11)
"Understanding the Size of the Government Spending Multiplier: It’s in the Sign"
The Review of Economic Studies, 2021, 89(1), 87-117
"The Envelope Theorem, Euler and Bellman Equations, without Differentiability"
Journal of Economic Theory, 2021, 196, article 105290
"Comment on “Redesigning EU Fiscal Rules: From Rules to Standards” by O. Blanchard, A. Leandro and J. Zettelmeyer"
Economic Policy, 2021, 36 (106), 195-236
"Should the ECB Adjust its Strategy in the Face of a Lower r*?"
Journal of Economic Dynamics and Control, 2021, 132, 1-23
"International Spillovers and Local Credit Cycles"
The Review of Economic Studies, 2021, 89 (2), 733-773
"Detecting Granular Time Series in Large Panels"
Journal of Econometrics, 2021, 220 (2), 544-561
"Optimal Lockdown in a Commuting Network"
American Economic Review: Insights, 2021, 3(4), 503-522
"Aggregate Dynamics in Lumpy Economies"
Econometrica, 2021, 89(3), 1235–1264
"Investment Demand and Structural Change"
Econometrica, 2021, 89 (6), 2751-2785
"Forecasting in the Presence of Instabilities: How We Know Whether Models Predict Well and How to Improve Them"
Journal of Economic Literature, 2021, 59 (4), 1135-1190
"Winners and Losers from Sovereign Debt Inflows"
Journal of International Economics, 2021, 130, article 103446
"Local Sectoral Specialization in a Warming World"
Journal of Economic Geography, 2021, 21 (2021), 493-530
"Identifying and Estimating the Effects of Unconventional Monetary Policy: How to Do It And What Have We Learned?"
The Econometrics Journal, 2021, 24 (1), C1-C32
"Confidence Intervals for Bias and Size Distortions in IV and Local Projections-IV Models"
Journal of Business and Economic Statistics, 2021, 39 (1), 307-324
"Aggregation and Design of Information in Asset Markets with Adverse Selection"
Journal of Economic Theory, 2021, 191, 1-49
"Balance Sheet Channel with Information-Trading Frictions in Secondary Markets"
The Review of Economic Studies, 2021, 88(1), 44-90
"Evaluating the Economic Cost of Coastal Flooding"
American Economic Journal: Macroeconomics, 2021, 13(2), 444-486
"Optimal Policy with General Signal Extraction"
Journal of Monetary Economics, 2021, 118, 54-86
"On Public Spending and Economic Unions"
IMF Economic Review, 2021, 69 (1), 122-154
"The Vanishing Procyclicality of Labour Productivity"
The Economic Journal, 2021, 131(633), 302-326
"Comments on ‘The Fiscal and Monetary History of Ecuador: 1950-2015’, by S. Cueva and J. Díaz"
The Monetary and Fiscal History of Latin America, 2021, University of Minnesota Press
"Structural Change with Long-run Income and Price Effects"
Econometrica, 2021, 89 (1), 311-374
"Monetary Policy for a Bubbly World"
The Review of Economic Studies, 2021, 88 (3), 1418–1456
Read non-technical summary on VOXEU and Finance Theory Insights.
"On the Direct and Indirect Real Effects of Credit Supply Shocks"
Journal of Financial Economics, 2021, 139 (3), 895-921
"The Financial Transmission of Housing Booms: Evidence from Spain"
American Economic Review, 2021, 111(3), 1013-1053
Read a non-technical summary on VOXEU
"Local Adjustment to Immigrant-Driven Labor Supply Shocks"
Journal of Human Capital, 2021, 5 (1), 204-235
Previously circulated as “Immigration, Internal Migration, and Technology Adoption”
"Securing Property Rights"
Journal of Political Economy, 2021, 129 (4), 1157-1192
"Book Review: The Great Reversal, by Thomas Philippon"
Journal of Economic Literature, 2021, 59(4), 1340-1360
"Comments on J. Azar and X. Vives Walras-Bowley Lecture: “General Equilibrium Oligopoly and Ownership Structure”"
Econometrica, 2021, 89(3), 1049-1053
"Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations"
American Economic Journal: Macroeconomics, 2021, 13(2), 121-167
"Comments on “Diverging Trends in National and Local Concentration”, by E. Rossi-Hansberg, P. Sarte and N. Thatcher"
NBER Macroeconomics Annual, 2021, 35
"Investor Experiences and Financial Market Dynamics"
Journal of Financial Economics, 2020, 136(3), 597-622
"Comments on ‘Friendly fire: the trade impact of the Russia sanctions and counter-sanctions’ by M. Crozet, J. Hins"
Economic Policy, 2020, 35(101), 127-130
"Uncovered Interest Parity, Forward Guidance and the Exchange Rate"
Journal of Money, Credit and Banking, 2020, 52(S2), 465-496
"Identifying the Sources of Model Misspecification"
Journal of Monetary Economics, 2020, 110, 1-18
"Gains from Wage Flexibility and the Zero Lower Bound"
Oxford Bulletin of Economics and Statistics, 2020, 82(6), 1239-1261
"Comments on “Boosting Fiscal Space: The Roles of GDP-Linked Debt and Longer Maturities” by J. I. Kim and J. D. Ostry"
Economic Policy, 2020, 35 (104), 587-634
"Commitment in Organisations and the Competition for Talent"
The Review of Economic Studies, 2020, 87 (5), 2165-2204
"Immigration and Wage Dynamics: Evidence from the Mexican Peso Crisis"
Journal of Political Economy, 2020, 128 (8), 3017-3089
"Can Global Uncertainty Promote International Trade?"
Journal of International Economics, 2020, 126, 1-19
"Comments on ‘Why is the Euro punching below its weight?’ by E. Ilzetzki, C. Reinhart and K. Rogoff"
Economic Policy, 2020, 35(103), 405-460
"Comments on The Fiscal-Monetary Policy Mix in the Euro Area: Challenges at the Zero Lower Bound"
Economic Policy, 2020, 35(103), 461-517
"Optimal Transport Networks in Spatial Equilibrium"
Econometrica, 2020, 88 (4), 1411-1452
"Comments on: “What Drives Aggregate Investment? Evidence from German Survey Data”"
Journal of Economic Dynamics and Control, 2020, 115, Article 103874
"Investor Experiences and International Capital Flows"
Journal of International Economics, 2020, 124, 1-19
"On the Empirical (Ir)Relevance of the Zero Lower Bound Constraint"
NBER Macroeconomics Annual 2019, 2020, 34, 141-170
"Securitization, Ratings, and Credit Supply"
Journal of Finance, 2020, 75 (2), 1037-1082
"Identifying Modern Macro Equations with Old Shocks"
Quarterly Journal of Economics, 2020, 135 (4), 2255-2298
"A Theory of Economic Unions"
Journal of Monetary Economics, 2020, 109, 107-127
"Has the U.S. Wage Phillips Curve Flattened? A Semi-Structural Exploration"
2020, 149-172
in G. Castex, J. Gali and D. Saravia (eds.) Changing Inflation Dynamics, Evolving Monetary Policy, Central Bank of Chile
"The Rise of Market Power and the Macroeconomic Implications"
Quarterly Journal of Economics, 2020, 135(2), 561-644 (lead article)
"Competing Teams"
The Review of Economic Studies, 2020, 87(3), 1134-1173
"Growing like Spain: 1995-2007"
International Economic Review, 2020, 61 (1), 383-416
"The Optimal Inflation Target and the Natural Rate of Interest"
Brookings Papers on Economic Activity, 2020, Fall, 173-230
VOX CEPR, 1/10/2019
"The Effects of a Money-Financed Fiscal Stimulus"
Journal of Monetary Economics, 2020, 115, 1-19
"Sharing a Government"
Journal of the European Economic Association, 2019, 17 (6), 1723-1752
"Unemployment Cycles"
American Economic Journal: Macroeconomics, 2019, 11(4), 175-234
"Liquidity Sentiments"
American Economic Review, 2019, 109 (11), 3813-3848
"Priors about Observables in Vector Autoregressions"
Journal of Econometrics, 2019, 209 (2), 238-255
"Recursive Contracts"
Econometrica, 2019, 87 (5), 1589-1631
"How Segregated is Urban Consumption?"
Journal of Political Economy, 2019, 127 (4), 1684-1738
"Minimum Wages and Spatial Equilibrium: Theory and Evidence"
Journal of Labor Economics, 2019, 37 (3), 853-904
"The World Income Distribution: The Effects of International Unbundling of Production"
Journal of Economic Growth, 2019, 24 (2), 189-221
"The Paradox of Global Thrift"
American Economic Review, 2019, 109 (11), 3745-3779
Read a non-technical summary on VoxEU
Read a non-technical summary on VoxEU
"Alternative Tests for Correct Specification of Conditional Forecast Densities"
Journal of Econometrics, 2019, 208 (2), 638-657
"Firing the Wrong Workers: Financing Constraints and Labor Misallocation"
Journal of Financial Economics, 2019, 133 (3), 589-607
Coverage: BGSE Focus, UPF e-news, ViaEmpresa
"Firm Uncertainty Cycles and the Propagation of Nominal Shocks"
American Economic Journal: Macroeconomics, 2019, 11 (1), 276-337
"Government Debt Management: The Long and the Short of It"
The Review of Economic Studies, 2019, 86 (6), 2554-2604
"The Effects of Conventional and Unconventional Monetary Policy on Exchange Rates"
Journal of International Economics, 2019, 118, 419-447
"Competition and the Welfare Gains from Transportation Infrastructure: Evidence from the Golden Quadrilateral of India"
Journal of the European Economic Association, 2019, 17 (6), 1881-1940
"Learning by Lending"
Journal of Financial Intermediation, 2019, 37, 1-14
"Financing Constraints, Radical versus Incremental Innovation, and Aggregate Productivity"
American Economic Journal: Macroeconomics, 2019, 11 (2), 275–309
Supplementary data and code to solve the model and replicate results
"Designing a Simple Loss Function for the Fed: Does the Dual Mandate Make Sense?"
The Economic Journal, 2019, 129 (621), 2010-2038
Read a non-technical summary on VoxEu
"Matching Information"
Theoretical Economics, 2018, 13, 377-414
"Uncertainty and Deviations from Uncovered Interest Rate Parity"
Journal of International Money and Finance, 2018, 88 (1), 242-259
"Comments on “The productivity puzzle and misallocation: An Italian perspective” by S. Calligaris, M. Del Gatto, F. Hassan, G. Ottaviano, and F. Schivardi"
Economic Policy, 2018, 33(96), 676-678
"From Final Goods to Inputs: The Protectionist Effect of Preferential Rules of Origin"
American Economic Review, 2018, 108 (8), 2335-2365
"Sorting in the Labor Market"
Annual Review of Economics, 2018, 10, 1-29
"On the Demographic Adjustment of Unemployment"
Review of Economics and Statitics, 2018, 100 (2), 219-231
"The State of New Keynesian Economics: A Partial Assessment"
Journal of Economic Perspectives, 2018, 32 (3), 87-112
"Strength in Diversity? Fiscal Federalism among the Fifty US States"
International Tax and Public Finance, 2018, 25 (4), 1071-1091
"If Technology Has Arrived Everywhere, Why Has Income Diverged?"
American Economic Journal: Macroeconomics, 2018, 10 (3), 137-178
"Stagnation Traps"
The Review of Economic Studies, 2018, 85 (3), 1425-1470
"The Geography of Development"
Journal of Political Economy, 2018, 126 (3), 903-983
"Banks, Government Bonds, and Default: What do the Data Say?"
Journal of Monetary Economics, 2018, 98, 98-113
"The Political Economy of Transportation Investment"
Economics of Transportation, 2018, 13, 4-26
"The Macroeconomics of Rational Bubbles. A User’s Guide"
Annual Review of Economics, 2018, 10 (1), 505-539
"The Welfare Consequences of Income-Induced Expenditure Switching"
American Economic Association: Papers & Proceedings, 2018, 108, 547-551
"Assortative Matching with Large Firms"
Econometrica, 2018, 86(1), 85-132
"The Micro Origins of International Business-Cycle Comovement"
American Economic Review, 2018, 108 (1), 82-108
"Agricultural Risk and the Spread of Religious Communities"
Journal of the European Economic Association, 2018, 16 (4), 1021-1068
"International Debt Deleveraging"
Journal of the European Economic Association, 2018, 16 (5), 1394-1432
"Uncertainty and Unemployment"
Econometrica, 2017, 85 (6), 1675-1721
Previously circulated as: Uncertainty Productivity and Unemployment in the Great Recession
"Uncertainty Traps"
Quarterly Journal of Economics, 2017, 132 (4), 1641-1692
"Optimal Time-Consistent Government Debt Maturity"
Quarterly Journal of Economics, 2017, 132 (1), 55-102
"The Downside of Asset Screening for Market Liquidity"
Journal of Finance, 2017, 72 (5), 1937-1982
"Asia’s Geographic Development"
Asian Development Review, 2017, 34(2), 1-24
"Large Firms and International Business Cycle Comovement"
American Economic Review: Papers & Proceedings, 2017, 107 (5), 598-602
"The Labor Market Consequences of Refugee Supply Shocks"
Economic Policy, 2017, 32 (91), 361-413
"Human Capital Accumulation and Occupational Choice: Implications for Economic Development,"
Review of Economic Dynamics, 2017, 25, 151–186
"Macroeconomic Uncertainty Indices for the Euro Area and its Individual Member Countries"
Empirical Economics, 2017, 53 (1), 41-62
"Mergers along the Global Supply Chain: Information Technologies and Routine Tasks"
Oxford Bulletin of Economics and Statistics, 2017, 8 (2), 406-433
"Stock Price Booms and Expected Capital Gains"
American Economic Review, 2017, 107 (8), 2352-2408
"Empirical Bayes Methods for Dynamic Factor Models"
Review of Economics and Statitics, 2017, 99 (3), 486-498
"Sorting through Search and Matching Models in Economics"
Journal of Economic Literature, 2017, 55(2), 493-544
"Capital Flows and the International Credit Channel"
Journal of International Economics, 2017, 108 (Supplement 1), S15-S22
"Rolling Window Selection for Out-of-sample Forecasting with Time-varying Parameters"
Journal of Econometrics, 2017, 196 (1), 55-67
"Understanding the Gains from Wage Flexibility: The Exchange Rate Connection"
American Economic Review, 2016, 106 (12), 3829-3868
"Forecasting Unemployment across Countries: the Ins and Outs"
European Economic Review, 2016, 84, 165-183
Special Issue on European Unemployment
"Declining Desire to Work and Downward Trends in Unemployment and Participation"
2015 NBER Macroeconomics Annual, 2016, 30, 449-494
"How Credible is the Federal Reserve: A Structural Estimation of Policy Re-optimizations"
American Economic Journal: Macroeconomics, 2016, 8 (3), 42-76
"Income-Induced Expenditure Switching"
American Economic Review, 2016, 106 (12), 3898-3931
"Monte Carlo Maximum Likelihood Estimation for Generalized Long-Memory Time Series Models"
Econometric Reviews, 2016, 35 (4), 659-687
"Infrastructure, Incentives, and Institutions"
American Economic Review: Papers & Proceedings, 2016, 106 (5), 77-82
"Forecast Rationality Tests in the Presence of Instabilities, With Applications to Federal Reserve and Survey Forecasts"
Journal of Applied Econometrics, 2016, 31 (3), 507-532
"Urban Networks: Connecting Markets, People and Ideas"
Papers in Regional Science, 2016, 95 (1), 17-59
Link to a presentation by G. Ponzetto at the CERGE-EI “Economics of Livable Cities” Conference held in Prague on 14 March 2016 from minute 50 onwards
"Political Centralization and Government Accountability"
Quarterly Journal of Economics, 2016, 131 (1), 381-422
"Stock Market Volatility and Learning"
Journal of Finance, 2016, 71 (1), 33-82
"Rethinking the Effects of Financial Globalization"
Quarterly Journal of Economics, 2016, 131 (3), 1497-1542
"Managing Credit Bubbles"
Journal of the European Economic Association, 2016, 14 (3), 753-789
"Can a Financial Transaction Tax Prevent Stock Price Booms?"
Journal of Monetary Economics, 2015, 76 (Suplement), S90-S109
"Distortions and the Size Distribution of Plants: Evidence from Cross-Country Data"
SERIES: Journal of the Spanish Economic Association, 2015, 6 (3), 279-312
"Common Value Experimentation"
Journal of Economic Theory, 2015, 160, 317-339
"Offshoring and Directed Technical Change"
American Economic Journal: Macroeconomics, 2015, 7 (3), 84-112
Read a non-technical summary on VoxEU
"Financial Crises and Exchange Rate Policy"
Journal of International Economics, 2015, 95 (2), 202-215
"A Global View of Cross-Border Migration"
Journal of the European Economic Association, 2015, 13 (1), 168-202
"Labor Market Heterogeneity and the Aggregate Matching Function"
American Economic Journal: Macroeconomics, 2015, 7 (4), 222-249
"The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence"
American Economic Journal: Macroeconomics, 2015, 7 (1), 233-257
"The International Transmission of Credit Bubbles: Theory and Policy"
Journal of Monetary Economics, 2015, 76 (S), S37-S56
"Large Capital Inflows, Sectoral Allocation, and Economic Performance"
Journal of International Money and Finance, 2015, 55, 60-87
"Monetary regime-switches and central bank preferences"
Journal of Money, Credit and Banking, 2014, 46 (8), 1591-1626
"One Effect to Rule them All? A Comment on Climate and Conflict"
Climatic Change, 2014, 127 (3-4), 391-397
"The Reservation Laws in India and the Misallocation of Production Factors"
Journal of Monetary Economics, 2014, 66, 193-209
"Generalized Dynamic Panel Data Models with Random Effects for Cross-Section and Time"
Journal of Econometrics, 2014, 180 (2), 127-140
"Diverse Organizations and the Competition for Talent"
International Economic Review, 2014, 55(3), 625-664
"Shrouded Costs of Government: The Political Economy of State and Local Public Pensions"
Journal of Public Economics, 2014, 116, 89-105
"The Financial Resource Curse"
The Scandinavian Journal of Economics, 2014, 116 (1), 58-86
"Technology Diffusion: Measurement, Causes and Consequences"
Handbook of Economic Growth, 2014, vol. 2B, ch. 2, 565-622
"Spatial Sporting"
Journal of Political Economy, 2014, 122(3), 554-620
"Cities, Skills and Regional Change"
Regional Studies, 2014, 48 (1), 7-43
"Loose Commitment in Medium-Scale Macroeconomic models: Theory and Applications"
Macroeconomic Dynamics, 2014, 18 (1), 175-198
"Lack of Commitment and the Level of Debt"
Journal of the European Economic Association, 2013, 11 (5), 1053-1078
"Heterogeneous Trade Costs and Wage Inequality: A Model of Two Globalizations"
Journal of International Economics, 2013, 89 (2), 393-406
"The Impact of Debt Levels and Debt Maturity on Inflation"
The Economic Journal, 2013, 123 (566), F164-F192
"Financing Constraints, Firm Dynamics, Export Decisions and Aggregate Productivity"
Review of Economic Dynamics, Special Issue on Misallocation and Productivity, 2013, 16 (1), 177-193
"Money is an Experience Good: Competition and Trust in the Private Provision of Money"
Journal of Monetary Economics, 2012, 59 (8), 815-825
"House Price Booms and the Current Account"
NBER Macroeconomics Annual, 2012, 26 (1), 77-122
"Stare Decisis: Rhetoric and Substance"
Journal of Law, Economics and Organization, 2012, 28 (2), 313-336
"Occupational Choice and Development"
Journal of Economic Theory, 2012, 147(2), 657-683
"Identifying Sorting – In Theory"
The Review of Economic Studies, 2011, 78, 872-906
"Competition, Human Capital and Income Inequality with Limited Commitment"
Journal of Economic Theory, 2011, 146 (3), 976-1008
"Internal Rationality, Imperfect Market Knowledge and Asset Prices"
Journal of Economic Theory, 2011, 146 (3), 1224-1252
"Sorting and Decentralized Price Competition"
Econometrica, 2010, 78(2), 539-574
"In Search of a Theory of Debt Management"
Journal of Monetary Economics, 2010, 57 (7), 821-836
"Did the Death of Distance Hurt Detroit and Help New York?"
2010
In E. L. Glaeser (Ed..), Agglomeration Economics, Chicago, IL: University of Chicago Press, 2010, 303-337
"A Theory of Optimal Crackdowns"
American Economic Review, 2010, 100, 1104-1135
"Fiscal Policy under Loose Commitment"
Journal of Economic Theory, 2010, 145 (3), 1005-1032
"Sorting vs Screening: Search Frictions and Competing Mechanisms"
Journal of Economic Theory, 2010, 145, 1354-1385
"Matching in Informal Financial Institutions"
Journal of the European Economic Association, 2010, 8(5), 947-988
"Supply Side Interventions and Redistribution"
The Economic Journal, 2010, 120 (543), 105-130
"Clusters of Entrepreneurship"
Journal of Urban Economics, 2010, 67 (1), 150-168
"Bargaining over Public Goods"
Journal of Public Economic Theory, 2009, 11(6), 927-945
"Gibrat’s Law for (All) Cities: Reply"
American Economic Review, 2009, 99, 1676-1683
"Debt and Deficit Fluctuations and the Structure of Bond Markets"
Journal of Economic Theory, 2009, 144 (2), 473-501
"Nominal Debt as a Burden to Monetary Policy"
Review of Economic Dynamics, 2008, 11 (3), 493-514
"Case Law versus Statute Law: An Evolutionary Comparison"
Journal of Legal Studies, 2008, 37 (2), 379-430
"Fiscal Insurance and Debt Management in OECD Economies"
The Economic Journal, 2008, 118 (527), 363-386
"Competitive Bargaining Equilibrium"
Journal of Economic Theory, 2008, 139(1), 269-294
"Incomplete Markets, Labor Supply and Capital Accumulation"
Journal of Monetary Economics, 2007, 54 (8), 2621-2635
"Why Does Democracy Need Education?"
Journal of Economic Growth, 2007, 12 (2), 77-99
"Stable Sunspot Equilibria in a Cash-in-Advance Economy"
B. E Journal of Macroeconomics, 2007, 7 (1), Article 3
"Minorities and Endogenous Segregation"
The Review of Economic Studies, 2006, 73(1), 31-53
"Strategic Extremism: Why Republicans and Democrats Divide on Religious Values"
Quarterly Journal of Economics, 2005, 120 (4), 1283-1330
"Money and Prices in Models of Bounded Rationality in High-Inflation Economies"
Review of Economic Dynamics, 2005, 8 (2), 452-479
"Aggregate Consequences of Limited Contract Enforceability"
Journal of Political Economy, 2004, 112 (4), 817-847
"Analisi comparativa dell’onerosità dei prodotti previdenziali individuali"
2004
A Comparative Analysis of the Costs of Individual Pension Products, Mercato, Concorrenza, Regole, 5 (2), 2004, 297–328
"The Market for Annuities in Italy: Reality or Chimera?"
2004
In E. Fornero and E. Luciano (Eds.), Developing an Annuity Market in Europe, Cheltenham: Edward Elgar, 2004, 262-290
"Gibrat’s Law for (All) Cities"
American Economic Review, 2004, 94(5), 1429-1451
"Strategic Delegation in Monetary Unions"
The Manchester School, 2004, 72 (s1), 19-33
"Recurrent Hyperinflations and Learning"
American Economic Review, 2003, 93 (5), 1476-1498
"Recurrent Hyperinflations and Learning"
American Economic Review, 2003, 93 (5), 1476-1498
"Inside-Outside Money Competition"
Journal of Monetary Economics, 2003, 50 (8), 1701-1718
"Optimal Taxation without State-Contingent Debt"
Journal of Political Economy, 2002, 110 (6), 1220-1254
"Financial Constraints on Investments: A Three-pillar Approach"
Research Economics, 2001, 55 (2), 219-254
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Handbook of Fiscal Federalism: Comparative Experiences and Challenges, Palgrave Macmillan, 2023. Forum of Federations, Ottawa, Canada.
