Recent Publications

Nagy, D.,

"Hinterlands, city formation and growth: Evidence from the U.S. westward expansion"


Forthcoming in The Review of Economic Studies, 2023

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

Asriyan, V., D. Foarta and V. Vanasco,

"The Good, the Bad and the Complex: Product Design with Imperfect Information"


Forthcoming in American Economic Journal: Microeconomics, 2023

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

Asriyan, V. and V. Vanasco,

"Security Design in Non-Exclusive Markets with Asymmetric Information"


Forthcoming in The Review of Economic Studies, 2023

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

K. Greulich, S. Laczó and A. Marcet,

"Pareto-Improving Optimal Capital and Labor Taxes"


Forthcoming in Journal of Political Economy, 2023

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

G. Benigno, L. Fornaro and M. Wolf,

"Reserve Accumulation, Growth and Financial Crises"


Journal of International Economics, 2022, 139, article 103660

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

Ghassibe, M. and F. Zanetti,

"State Dependence of Fiscal Multipliers: The Source of Fluctuations Matters"


Journal of Monetary Economics, 2022, 132, 1-23

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

Nagy, D.,

"Trade and Urbanization: Evidence from Hungary"


American Economic Journal: Microeconomics, 2022, 14 (3), 733-790

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

Fornaro, L.,

"A Theory of Monetary Union and Financial Integration"


The Review of Economic Studies, 2022, 89 (4), 1911-1947

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

G. Gancia, G. Ponzetto and J. Ventura,

"Globalization and Political Structure"


Journal of the European Economic Association, 2022, 20 (3), 1276-1310

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

Nagy, D.,

"Quantitative Economic Geography meets History: Questions, Answers and Challenges"


Regional Science and Urban Economics, 2022, 94, Article 103675

Previously circulated as ‘Credit Demand Forever?’ On the Strengths of Bank and Firm Balance-Sheet Channels in Good and Crisis Times’

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