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Macroeconomic implications of learning and financial frictions in interdependent economies (with Erica perego and Thepthida Sopraseuth). Macfinrobods WP here.
Appendix here.

Welfare Cost of Fluctuations: when Labor Market Search Interacts with Financial Frictions (with François Langot et Thepthida Sopraseuth).
Available also as Documents de travail du Centre d'Economie de la Sorbonne 2014.42.
New version here.


Comment on the article La coordination entre politique monetaire et politique macroprudentielle. Que disent les modeles dsge ? Régle de Taylor augmentée versus régle macroprudentielle. Que disent les modèles DSGE ? (2015), Revue Economique, 66 (3): 573-578. Download.

Collateral constraints and rental markets (2013)
, Economics Letters, 121: 436–439 (with Hippolyte d'Albis). Download.

L’intermédiation financière dans l’analyse macroéconomique. Le défi de la crise (2012), Economie et Statistique, Special issue on macroeconomics, N° 451-453. Available also as Documents de travail du Centre d'Economie de la Sorbonne 11046, (with Thepthida Sopraseuth). Download.

Main code

Financial Openness, Financial Frictions and Monetary Policy (2011), Journal of Economic Dynamics and Control, 35 (
11): 1976-1996. Also available as The Globalization and Monetary Policy Institute Working Papers N° 52, 2010, Federal Reserve Bank of Dallas (with Ester Faia). Download.

Optimal immigration policy when the public good is rival (2011), Japanese Economic Review, 62 (
4): 460-484. Also available as CES Working paper 2010.95 (with Stefano Bosi et Hubert Jayet). Download.

Skills, immigration and selective policies (2008), Zagreb International Review of Economics and Business, 11 (2):
1-19 (with Stefano Bosi and Francesco Magris). Download.

UK external imbalances and the sterling: are they on a sustainable path? (2007), Open Economies Review, 18 (5):
539-557 (with Marcus Miller). Download.


La corruzione costa - Effetti economici, istituzionali e sociali (2005). Foreword by Vito Tanzi, presentation by Gabrio Forti, Vita e Pensiero, Milano (with Marco Arnone).
English edition: The Costs of Corruption – Economic, Institutional and Social Effects (2007), Vita e Pensiero, (with Marco Arnone).

Istituzioni internazionali: giustizia, equità, legalità (2006), chapter in Carlo Casalone and Paolo Foglizzo,Volare allaiustizia senza schermi – un percorso interdisciplinare oltre l’equita’. Preface by Cardinal Carlo Maria Martini. Vita e Pensiero, Milano, 2007. (with Marco Arnone).


External imbalances and collateral constraints in a two-country world (2009), Documents de travail du Centre d'Economie de la Sorbonne 09065. Previous version:
Collateral constraints, external imbalances and heterogeneous agents in a two-country world (2008), WP EPEE 08-12.

Does corruption enhance poverty and inequality in Latin America? (2006) paper presented at the IV Annual Meeting of the Euro-Latin American Network on Governance for Development (REDGOB), Inter-American Development Bank,and DFID, 7-8 December 2006, (with Marco Arnone).

Taylor rules, the real exchange rate and debt dynamics (2004), Discussion paper PWC/2-9, European University Institute (with Marcus Miller).

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