Business Dynamism, Reallocation, and Productivity in a Pandemic, with Guido Ascari and Riccardo Silvestrini,  European Economic Review, 2023,  Vol. 156, 104473 

Special issue titled: The COVID-shock and the new macroeconomic landscape: taking stock and looking ahead. See the SUERF policy brief No 238 for a summary of the main results and the policy implications of this paper.

Monetary Policy, Productivity, and Market Concentration, with R. Silvestrini. European Economic Review, 2022, Vol. 142. WP Version

Central Bank Policies and Income and Wealth Inequality: A Survey , with J. de Haan and A. Samarina, Journal of Economic Surveys, 2019, Vol. 33, No. 4, pp. 1199–1231.

Determinacy analysis in high order dynamic systems: the case of nominal rigidities and limited asset market participation, with G. Ascari and L. Rossi, Economics Letters, 2017, Vol 159,pp 82-87. Appendix

Limited Asset Market Participation, Sticky Wages and Monetary Policy, with G. Ascari and L. Rossi , Economic Inquiry, 2017, Volume 55, 878-897 Appendix.

Endogenous Market Structures and Optimal Taxation, The Economic Journal, 2016, Vol. 126 (594), 1441-1483.  

Firm Entry, endogenous markups and the dynamics of the labor share of income, with L.Rossi, Macroeconomic Dynamics, 2015, 19 (6), 1309-1331. 

The role of Financial Intermediaries in Monetary Policy Transmission, with Thorsten Beck and Damjan Pfajfar, Journal of Economic Dynamics and Control, 2014, Vol 43, 1-11 

Rule of Thumb Consumers Meet Sticky Wages, Journal of Money Credit and Banking, 2011, Vol.43 (2), 325-353., Appendix.

Endogenous Market Structures and the Business Cycle, with F. Etro, The Economic Journal, 2010, Vol. 120, 1201-1233.

Real Business Cycle with Cournot Competition and Endogenous Entry, with F. Etro , Journal of Macroeconomics, 2010,Vol. 32, 1101-1117. 

The role of Fiscal policy in a monetary union: are national automatic stabilizers effective? with V.A. Muscatelli, T. Ropele and P.Tirelli, 2008, Review of International Economics, Vol. 16 (3), 591-610. Appendix


Structural Change, Job Creation and Cloud Computing, Chapter VI in Broadband in Latin America: Beyond Connectivity, Edited by V. Jordan, H. Galperin and W. Peres, United Nations, ECLAC (with Federico Etro), 2013.

Structural Reforms and Endogenous Market Structures, Chapter IX in Structural Reforms-Moving the Economy Forward, Springer, Edited by Jakob de Haan and Jante Parlevliet. 2018 


Omzetconcentratie gaat gepaard met een lagere arbeidsinkomensquote (with Domenico Favoino and Jakob de Haan), Economisch Statistische Berichten (ESB), 105(4785), May 2020. 

This note, using Dutch firm-level data, shows that firms with higher market shares pay out a lower fraction of their revenues to workers in the form of wages. 


The Impact of Data Protection regulation in the E.U. (with  Christensen L.R., F. Etro and Greg Rafert), Policy Report. See also the Column in the European Financial Review, June 2013.