My current research focuses on the effects of labor institutions and capital market imperfections on investment decisions and labor market outcomes. Another line of research concerns the causes of the Italian economic slowdown of the last decade.
Articles
Financial and labor market imperfections and investment (with Giorgio Calcagnini and Germana Giombini), Economics Letters (2009)
This paper analyses how financial and labor market imperfections jointly influence investment. The contemporaneous presence...
The role and significance of endogenous firing costs in a matching model with endogenous job destruction (with Riccardo Tilli), JOURNAL OF SOCIO-ECONOMICS (2009)
Traditional models of the labor market assume fixed firing costs. This paper explores the implications...
Do labor market conditions affect the strictness of employment protection legislation? (with Riccardo Tilli), ECONOMICS BULLETIN (2008)
We provide a theoretical microfoundation for the negative relationship between firing costs and labor market...
Risk Aversion, Intertemporal Substitution, and the Aggregate Investment-uncertainty Relationship (with Davide Ticchi), JOURNAL OF MONETARY ECONOMICS (2007)
We analyze the role of risk aversion and intertemporal substitution in a simple dynamic general...
The effects of future financing constraints on capital accumulation: Some new results on the constrained investment problem (with Giuseppe Travaglini), Research in Economics (2006)
In this paper, we study the effects of future constraints on current investment decisions. Unlike...
Books
Le radici del declino economico (The roots of Economic Decline) (with Giuseppe Travaglini) (2006)
In this bookwe argue that the slowdown in labor productivity and not the low contribution...
Contributions to Books
Behavioral Portfolio Choice and Disappointment Aversion (with Giuseppe Travaglini), Nonlinear Dynamics in Economics, Finance and Social Sciences: Essays in Honour of John Barkley Rosser Jr (2010)
The standard portfolio model predicts a large equity position for most
households. Empirical evidence...