Research

Publications

Did financial frictions stifle R&D investment in Europe during the great recession?, with O. Peia, Journal of International Money and Finance, forthcoming.
[Article – Open access] [Working Paper Version]

Banking supervision and external auditors: Theory and empirics, with D. Masciandaro and Oana Peia, Journal of Financial Stability, 2020, 46: 100722.
[Article] [Working Paper Version]

Current account and real exchange rate changes: The impact of trade openness, with Cristina Terra and Enrico Vasconcelos, European Economic Review, 2018, 105: 135-158.
[Article] [Working Paper Version]

Central Bankers as Supervisors: Do Crises Matter?, with D. Masciandaro, European Journal of Political Economy, 2018, 52: 120-140.
[
Article] [Working Paper Version] [Slides] [Media coverage: VoxEU]

Appointments to Central Bank Boards: Does Gender Matter?, with Patricia Charlety and Estefania Santacreu-Vasut, Economics Letters, 2017, 155: 59–61.
[Article] [Working Paper Version] [Media coverage: ESSEC KnowledgeThe Conversation (French)The Council Community]

Ups and Downs. Central Bank Independence from the Great Inflation to the Great Recession: Theory, Institutions and Empirics, with D. Masciandaro, Financial History Review, 2015, 22(03): 259–289.
[Article] [Working Paper Version] [Media coverage: Forsal (Polish)
Obserwator finansowy (Polish); VoxEU]

Dynamic Central Bank Independence Indices and Inflation Rate: A New Empirical Exploration, with Marco Arnone, Journal of Financial Stability, 2013, 9(3): 385–398.
[Article] [Working Paper Version] [Data]

Books

Currency Unions, with Patrick Honohan and Fadi Hassan, Edward Elgar Publishing, 2020.
[Book]

Book Chapters

Economics of European Monetary Integration, with D. Masciandaro. In “EU Law of Economic & Monetary Union”, edited by F. Amtenbrink and C. Herrmann, Oxford University Press, 2020.
[Book]

Peaks and Troughs: Economics and Political Economy of Central Bank Independence Cycles, with D. Masciandaro. In “The Economics of Central Banking”, edited by D. Mayes, P. Siklos and J.E. Strum, Oxford University Press Handbooks in Economics, 2019.
[Working Paper Version]

From Silence to Voice: Monetary Policy, Central Bank Governance and Communication, with D. Masciandaro. “Central Banking and Monetary Policy: what will be the post-crisis new normal?”, edited by E. Gnan and D. Masciandaro, Lancier, 2016.
[Book] [Working Paper Version]

Other Publications

Central Bank Reforms and Institutions with O. Peia. ifo DICE Report 1/2019, April 2019.
[Article]

Working Papers

Do Women Matter in Monetary Policy Boards?, with D. Masciandaro and P. Profeta, BAFFI CAREFIN Centre Research Paper No. 2020-148.
[Working Paper Version[Media coverage: Banque de France Blog; Les Echos (French);  IMF Finance & Development; Live Mint; VoxEU; Vox TalksWall Street JournalWorld Economic Forum]

Tweeting on Monetary Policy and Market Sentiments:The Central Bank Surprise Index, with D. Masciandaro and G. Rubera, BAFFI CAREFIN Centre Research Paper No. 2020-134.
[Working Paper Version] [Media coverage: SUERF Policy Note, Issue No 147]

The political economy of reforms in central bank design: evidence from a new dataset, BAFFI CAREFIN Centre Research Paper No. 2018-87, 2018.
[Working Paper Version] [Local Copy] [Slides] [Media coverage: Institutional Money (German)]

Beyond the Central Bank Independence Veil: New Evidence, with D. Masciandaro, BAFFI CAREFIN Centre Research Paper No. 2018-71, 2018.
[Working Paper Version] [Local copy] [Media coverage: The Market (German)]

central bank independence data, CBI data, banking supervision