Working Papers

·“Inefficiency and Regulation of Private Liquidity,” CEPR Discussion Paper No. 13631. (March 2019.) (with Roberto Robatto)

·“Monetary Policy in a World of Cryptocurrencies,” CEPR Discussion Paper No. 13517. (February 2019.)

·“Private Money Creation, Liquidity Crises, and Equilibrium Liquidity,” CEPR Discussion Paper No. 13091. (July 2018.) (with Roberto Robatto)

·“A Central Bank Theory of Price Level Determination,” CEPR Discussion Paper No. 11966. (April 2017.)

·“Non-Neutrality of Open-Market Operations,” CEPR Discussion Paper No. 10594. (May 2015.) (with Salvatore Nisticò)

·“Overconfidence, Subjective Perception and Pricing Behavior,” NBER Working Paper No. 11922. (January 2006.) (with A. Karantounias.)

 

Working Papers not for publication:

·“Private Money Creation and Equilibrium Liquidity,” CEPR Discussion Paper No. 11242. (April 2016.) (with Roberto Robatto) It has been replaced by Private Money Creation, Liquidity Crises, and Equilibrium Liquidity,” CEPR Discussion Paper No. 13091. (July 2018.)

·“Designing Central Banks for Inflation Stability,” CEPR Discussion Paper No. 11402. (July 2016.) It has been replaced by A Central Bank Theory of Price Level Determination,” CEPR Discussion Paper No. 11966. (April 2017.)

The Inflation-Unemployment Trade-Off at Low Inflation,” NBER Working Paper No. 13986. (April 2008.) (with Luca Antonio Ricci.) It contains additional material with respect to the published version ·“The Inflation-Output Trade-Off with Downward Wage Rigidities,” published in The American Economic Review Vol. 101, No. 4, pp. 1436-1466, (2011).

· Portfolio Choices with Near Rational Agents: A Solution to Some International-Finance Puzzles,” NBER Working Paper No. 13173. (June 2007.) It has been replaced by International Portfolio Allocation under Model Uncertainty,” in American Economic Journal: Macroeconomics Vol. 4, Issue 1, pp. 144-189, (2012). (with Salvatore Nisticó.)