Research Interests:
Financial markets, non-banks, and monetary policy transmission
Working Papers:
1. Bank balance sheet constraints and mutual fund fragility, with V. Ivashina, Nov 2020, updated Sept 2023. R&R at the Review of Financial Studies.
- VoxEU (2021), Research Bulletin (2021)
- AFA 2022
2. Do non-banks need access to the lender of last resort? Evidence from fund runs, with M. Hoerova, Nov 2020, updated Feb 2023. R&R at the Review of Financial Studies.
- VoxEU (2023), Research Bulletin (2023), SUERF Policy Brief (2023)
- AFA 2022, EFA 2021
3. Non-bank liquidity provision to firms: Fund runs and central bank intervention, with G. Schepens, WP 2023.
- AFA 2023, EFA 2023
4. Fund Fragility: The role of investor base, with N. Allaire, and H. Hoerova, WP 2023.
- AFA 2024
5. Investor heterogeneity and large scale asset purchases, with V. De Falco, WP 2023.
6. Is the bond market competitive? Evidence from the ECB’s asset purchase programme, with S. Corradin, and P. Collin-Dufresne, WP 2023
- EFA 2023
7. The (re)allocation of bank risk, with G. Bekaert, WP 2020.
- EFA 2018
8. Competition among high-frequency traders and market quality, WP 2013, updated 2020. R&R at the Journal of Economic Dynamics and Control.
- VoxEU (2020), Research Bulletin (2020)
- EFA 2014
9. Asymmetry matters: A high-frequency risk-reward trade-off, with B. Buchwalter and R. Tédongap, WP 2012.
Published Articles:
1. Sovereign to corporate risk spillovers, with P. Augustin, H. Boustanifar and J. Schnitzler, 2018, Journal of Money, Credit and Banking, Vol. 50 (5), 857-891.
- Research Bulletin (2018)
2. Bank to sovereign risk spillovers across borders: Evidence from the ECB’s Comprehensive Assessment with B. Schwaab, 2018, Journal of Empirical Finance, Vol. 49, 247-262.
Other Papers / Discussion Papers:
1. The Climate and the Economy, with B. Mackowiak, D. Marques-Ibanez, C. Olovsson, A. Popov, D. Porcellacchia, and G. Schepens, ECB WP (2023)
2. Financial markets and green innovation, with P. Aghion, L. Boneva, L. Laeven, C. Olovsson, A. Popov, and E. Rancoita, ECB WP (2022)
- THE ECB BLOG (2022)
3. The ECB’s Asset Purchase Programme: An early assessment, with P. Andrade, F. de Fiore, P. Karadi, and O. Tristani, ECB WP (2016)
4. The reanchoring channel of QE: The ECB Asset Purchase Programme and long-term inflation expectations, with P. Andrade, F. de Fiore, P. Karadi, and O. Tristani, WP (2016);
Disclaimer: The views expressed on this website are my own and do not necessarily reflect those of the European Central Bank or the Eurosystem.