Recent Publications

Debortoli, D. and J. Galí,

"Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"


NBER Macroeconomics Annual, 2025, 39 (1), 307-357

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

Asriyan, V., L. Laeven, A. Martin, A. Van der Ghote and V. Vanasco,

"Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium"


The Review of Economic Studies, 2025, 92 (4), 2197-2227

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

Fornaro, L. and F. Romei,

"An International Perspective on Inflation during the Covid-19 Recovery"


Forthcoming in 2025

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"


Journal of the European Economic Association, 2025, 23 (2), 632-681

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

Broner, F., A. Martin, C. Trebesch, J. Meyer and J. Zhou Wu,

"Hegemony and International Alignment"


American Economic Association: Papers & Proceedings, 2025, 115, 593-598

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

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

"The Global Financial Resource Curse"


American Economic Review, 2025, 115 (1), 220-262

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

A. Abraham, E. Cárceles, R. Marimon and Y. Liu,

"On the Optimal Design of a Financial Stability Fund"


Forthcoming in The Review of Economic Studies, 2025

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

L. Althoff and H. Reichardt,

"Jim Crow and Black Economic Progress After Slavery"


Quarterly Journal of Economics, 2024, 139 (4), 2279-2330

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

Galí, J. and D. Debortoli,

"Idiosyncratic Income Risk and Aggregate Fluctuations"


American Economic Journal: Macroeconomics, 2024, 16(4), 279–310

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

Nagy, D., C. Ducruet, R. Juhász and C. Steinwender,

"All Aboard: The Effects of Port Development"


Journal of International Economics, 2024, Volume 151, 103963

R&R at the Review of Financial Studies
Previously: ” Security Design with Ratings”

The Review of Financial Studies, Volume 36, Issue 9, September 2023, Pages 3693–3737

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