• (Un)conventional Policy and the Zero Lower Bound, with Oreste Tristani.

Published in:

Journal of Economic Dynamics and Control, Vol. 106, September 2019.

Working Paper versions:

BIS Working Paper, August 2019

CEPR Working Paper Series No 13585, March 2019

ECB Working Paper Series No 2183, October 2018

• Credit subsidies, with Isabel Correia, Pedro Teles and Oreste Tristani

Published in:

Journal of Monetary Economics. Available online on 20 December 2018.

Working Paper versions:

ECB Working Paper Series No 1977, December 2018

NBER Working Paper No. 25319, November 2018

CEPR Working Paper No. 13335, May 2014

• Corporate Debt Structure and the Financial Crisis, with Harald Uhlig

Published in:

Journal of Money Credit and Banking, 47 (8): pp. 1571-1598, November 2015

Working Paper versions:

ECB Working Paper Series No 1759, February 2015

NBER Working Paper No. w20730, December 2014

• Optimal Monetary Policy in a Model of the Credit Channel, with Oreste Tristani

Published in:

Economic Journal, Vol. 123, Issue 571, pp. 906-931, September 2013

Working Paper versions:

ECB Working Paper Series No 1043, April 2009.

• Monetary Policy and the Financing of Firms, with Pedro Teles and Oreste Tristani.

Published in:

American Economic Journal: Macroeconomics 3 (4), pp. 112-142, October 2011.

Working Paper versions:

ECB Working Paper Series No 1123, December 2009

CEPR Discussion Paper No. DP7419, September 2009

• Bank Finance versus Bond Finance, with Harald Uhlig.
  

Published in:

Journal of Money, Credit and Banking, 43 (7): 1395-1418, October 2011.

Working Paper versions:

NBER Working Paper Series No 16979, April 2011

MFI Working Paper No. 2011-004, April 2011

ECB Working Paper No. 547, November 2005

• Credit and the Natural Rate of Interest, with Oreste Tristani.
  

Published in:

Journal of Money, Credit and Banking, 43 (2-3): 407-440, March 2011

Working Paper versions:

ECB Working Paper No. 889, May 2008

• Does Trade Openness Matter for Aggregate Instability?, with Zheng Liu,
  

Published in:

Journal of Economic Dynamics and Control, 29: 1165-1192, July 2005

Working Paper versions:

ECB Working Paper No. 173, September 2002

Emory University Working Paper No. 0310, 2002.

• The Optimal Mix of Taxes on Money, Consumption, and Income, with Pedro Teles
  

Published in:

Journal of Monetary Economics, 50 (4): 871-887, May 2003

Working Paper versions:

CEPR Discussion Paper No. 3437, August 2002

Federal Reserve Bank of Chicago Working Paper No. WP-02-03, March 2002

ECB Working Paper No. 135, April 2002 

• Growth and Employment Effects of Tax Reforms in Europe, with W. Roeger

Published in:

Oxford Economic Papers, 51: 200-222, January 1999

• The role of Financial Conditions for Monetary Policy, with Oreste Tristani. Published in: Enhancing Monetary Analysis, eds. L. Papademos and J. Starck. Chapter 4, Annex I.
• Commentse role on “Exchange Rate Policies on the Last Stretch, with Vitor Gaspar.  In Monetary Strategies for Joining the Euro, eds. G. Szapary and J. von Hagen.
  

• Money Markets, Collateral and Monetary Policy with Marie Hoerova and Harald Uhlig
• ECB Working Paper Series No 2239, February 2019
• • NBER Working Paper No. 25319, November 2018
  • CEPR Working Paper No. 13335, November 2018
• The ECB' s asset purchase programme: an early assessment with Philippe Andrade, Johannes Breckenfelder, Peter Karadi, Oreste Tristani.  ECB Working Paper Series No 1956, September 2016.
• The Optimal Inflation Tax when Taxes are Costly to Collect.  ECB Working Paper Series No 38, November 2000.
• Can Indeterminacy Explain the Short-Run non-neutrality of Money? ECB Working Paper Series No 32, November 2000.
• The Transmission of Monetary Policy in Israel. IMF Working Paper No. 98/114.

• Negative Interest Rates: Lessons from the Euro Area, with Jens Eisenschmidt, Frank Smets and Oreste Tristani.
• The Re-Anchoring Channel of QE-- The ECB's Asset Purchase Programme and Long-Term Inflation Expectations, with Philippe Andrade, Oreste Tristani. Revise and resubmit at the International Journal of Central Banking.
• A Macroeconomic Model of Unsecured Debt and Self-Fulfilling Crises, with Luca Dedola.