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Research

Recent working papers and Future research in work in progress folder

Publications

Fiscal Consolidations in a Low Inflation Environment:Pay cuts versus Lost Jobs, with Guilherme Bandeira, Rana Sajedi and Eugenia Vella. Forthcoming, International Journal of Central Banking, Online appendix.

“Fiscal Consolidation and the Underground Economy: The Case of Greece,’ with R. Sajedi and E. Vella, published in Political Economy Perspectives on the Greek Crisis, edited by Ioannis Bournakis, Dimitris Christopoulos, Theodore Palivos, Chris Tsoukis, Palgrave MacMilan, forthcoming.

Emerging economies business cycles: The role of commodity terms of trade news”, with Nadav Ben Zeev and Alejandro VicondoaOnline appendix (new)Journal of International Economics, 108, September 2017, pp.368-376

“The Government Wage Bill and Private Activity,” with Dimitrios Bermperoglou and Eugenia Vella. Online appendix, Journal of Economic Dynamics and Control, 79, June2017, pp.21-47

“Chronicle of a War Foretold: The Macroeconomic Effects of Anticipated Defence Spending Shocks”, with Nadav Ben Zeev, Economic Journal, 127, August 2017, pp.1568–1597, Online appendix.

“Housework and Fiscal Expansions”, with Stefano Gnocchi and Daniela Hauser. Journal of Monetary Economics, Volume 79, May 2016, pp. 94–108. Online appendix.

News Shocks in the Data: Olympic Games and Their Macroeconomic Effects”,  with Markus Brückner, Journal of Money, Credit and Banking, Volume 47, Issue 7, pp. 1339-1367, October 2015.

“Multipliers of Unexpected Increases in Defence Spending: An Empirical Investigation”, with Nadav Ben Zeev, Journal of Economic Dynamics and Control, Volume 57, August 2015.

Fiscal Consolidation with Tax Evasion and Rent Seeking ”, with Rana Sajedi and Eugenia Vella, Journal of International Economics, Volume 96, July 2015, pp. S56-S75 . Online appendix.

Do Labor Market Institutions Matter for Business Cycle Fluctuations?”, with Stefano Gnocchi and Andresa Lagerborg, Journal of Economic Dynamics and Control, Volume 51, pp. 299-317, February 2015. Online appendix.

“Capital Maintenance and Depreciation over the Business Cycle”, with Alice Albonico and Sarantis Kalyvitis, Journal of Economic Dynamics and Control, Volume 39, Issue C, pp. 273-286, February 2014. Online appendix.

“Fiscal Expansions, Unemployment and Labor Force Participation: Theory and Evidence”, with Markus Brückner, International Economic Review, Volume 53, Issue 4, pp. 1205–1228, November 2012.

“Fiscal Policy, Pricing Frictions and Monetary Accommodation”, with Fabio Canova, Economic Policy, Volume 26(68), pp. 555-598, October 2011.

“The Effects of Fiscal Shocks on Employment and the Real Wage”, International Economic Review, Volume 50, Issue 1, pp. 217-244, 2009.

“Gains from International Monetary Policy Coordination: Does it Pay to be Different?”, with Zheng Liu, Journal of Economic Dynamics and Control, Volume 32(7), pp. 2085-2117, 2008.

“The Structural Dynamics of U.S. Output and Inflation: What Explains the Changes?”, with Luca Gambetti and Fabio Canova, Journal of Money, Credit and Banking, Volume 40, Issue 2-3, pp. 369–388, 2008.

“The Unbearable Tightness of Being in a Monetary Union: Fiscal Restrictions and Regional Stability”, with Vanghelis Vassilatos, European Economic Review , 6 V. 51 1, pp. 1492-1513, 2007.

“The Structural Dynamics of Output Growth and Inflation: Some International Evidence”, with Luca Gambetti and Fabio Canova, Economic Journal (London), 519 V. 117, pp. C167-C191, 2007.

“Price Differentials in Monetary Unions: The Role of Fiscal Shocks”, with Fabio Canova, The Economic Journal, (London), 520, V. 117, pp. 713-737, 2007.

”The Elusive Costs and the Immaterial Gains of Fiscal Constraints”, with Fabio Canova, Journal of Public Economics, Volume 90, Issues 8-9, pp. 1391-1414, 2006.

“Does it Cost to be Virtuous? The Macroeconomic Effects of Fiscal Constraints”, with Fabio Canova, NBER International Seminar on Macroeconomics 2004, The MIT Press, (edited by R. Clarida, J. Frenkel, F. Giavazzi and K. West), 2006.

Comment on “The Co-movement of Returns and Investment within the Multinational Firm”, by M. Desai and F. Foley, NBER International Seminar on Macroeconomics 2004, The MIT Press, (edited by R. Clarida, J. Frenkel, F. Giavazzi and K. West), 2006.

“Persistence without too much Price Stickiness: The role of Variable Factor Utilisation”, with Katharine Neiss, Review of Economic Dynamics, Volume 8, Issue 1, pp. 231-255, 2005.

“Do the ECB and the Fed really need to Cooperate? Optimal Monetary Policy in a Two-Country World”, Journal of Monetary Economics, Volume 51, 4, pp. 753-779, 2004.

“The Transition from National Currencies to the Euro”, with Charles Goodhart, Economics Letters, Volume 79/1, 2003.