CefES Publications
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Latest Publications
Publications 2024
Bomprezzi, P., Dreher, A., Fuchs, A., Hailer, T., Kammerlander, A., Kaplan, L., Marchesi, S., Masi, T., Robert, C., Unfried, K. (2024). Wedded to Prosperity? Informal Influence and Regional Favoritism. CEPR Discussion Paper 18878.
Schirripa Spagnolo, F., Borgoni, R., Carcagnì, A., Michelangeli, A., Salvati, N. (2024) A spatial semiparametric M-quantile regression for hedonic price modelling. AStA Adv Stat Anal 108, 159–183 (2024). https://doi.org/10.1007/s10182-023-00476-w
Publications 2023
Ascari, G., Colciago, A., Silvestrini, R. (2023). Business dynamism, sectoral reallocation and productivity in a pandemic. European Economic Review, 156, 104473. https://doi.org/10.1016/j.euroecorev.2023.104473
Borgoni, R., Michelangeli, A., Salvati, N., Schirripa Spagnolo, F. Carcagnì, A (2023). A Spatial Semiparametric M-quantile Regression for Hedonic Price Modelling"). AStA Advances in Statistical Analysis, 2023.
Borrotti, M., Rabasco, M., Santoro, A. (2023). Using Accounting Information to Predict Aggressive Tax Placement Decisions by European Groups. Economic Systems, 47 (3), 101090. https://doi.org/10.1016/j.ecosys.2023.101090
Casalone, G. Michelangeli, A., Östh, J., Türk, U. (2023). The Effect of Lockdown on Students’ Performance: A comparative study between Italy, Sweden and Turkey. Heliyon, 9(6).
Cavalli, F., Chen, H.J., Li, M.C. Naimzada, A., Pecora, N. (2023). Heterogeneous expectations and equilibria selection in an evolutionary overlapping generations model. Journal of Mathematical Economics 104, 102806 (2023)
Crosato, L., Domenech, J., Liberati, C. (2023). Websites’ data: a new asset for enhancing credit risk modeling. Annals of Operations Research. https://doi.org/10.1007/s10479-023-05306-5
Crosato, L., Liberati, C., Repetto, M. (2023). Lost in a black-box? Interpretable machine learning for assessing Italian SMEs default. Applied Stochastic Models in Business and Industry, 1-18. https://doi.org/10.1002/asmb.2803
Faggian, A., Michelangeli, A. and Tkach, K. (2023). Income Inequality in Europe: Reality, Perceptions and Hopes, Research in Globalization, 6. https://doi.org/10.1016/j.resglo.2023.100118
Friebel, G., Manchin, M., Mendola, M., Prarolo, G. (conditionally accepted). International Migration Intentions and Illegal Costs: Evidence from Africa-to-Europe Smuggling Routes. Journal of International Economics.
Gattai, V., Natale, P., Rossi, F. (2023). Board diversity and outward FDI: Evidence from europe. Economic Modelling, 120, 106156. https://doi.org/10.1016/j.econmod.2022.106156
Meschi, E., Pavese, C. (2023). Ability composition in the class and the school performance of immigrant students. Labour Economics, 85, 102450. https://doi.org/10.1016/j.labeco.2023.102450
Publications 2022
Belloni, M., Carrino, L., Meschi, E. (2022). The impact of working conditions on mental health: Novel evidence from the UK, Labour Economics, 76, 102176, https://doi.org/10.1016/j.labeco.2022.102176.
Bernasconi, M., Galetti, S., Gattai, V., Natale, P. (2022) Contract Incompleteness and the Boundaries of the Firm in Times of COVID-19. Journal of Industry, Competition and Trade, 22, 371–409. https://doi.org/10.1007/s10842-022-00387-7
Bottai, C., Crosato, L., Domenech, J., Guerzoni, M., Liberati, C. (2022). Unconventional data for policy: Using Big Data for detecting Italian innovative SMEs. In Proceedings of the 2022 ACM Conference on Information Technology for Social Good, 338-344 https://doi.org/10.1145/3524458.3547246.
Campo, F., Mendola, M., Morrison, A., & Ottaviano, G. (2022). Talents and Cultures: Immigrant Inventors and Ethnic Diversity in the Age of Mass Migration. Journal of European Economic Association, 20 (5), 1971-2021. https://doi.org/10.1093/jeea/jvac021
Cassola, N., De Grauwe, P., Morana, C. & Tirelli, P. (2022). The risks of exiting too early the policy responses to the COVID-19 recession. Research in Globalization, 4, 100073. https://doi.org/10.1016/j.resglo.2021.100073
Dalla Pellegrina, L., Di Maio, G., Masciandaro, D. (2022). Are Bankers “Crying Wolf”? Type I, Type II Errors and Deterrence in Anti-Money Laundering: The Italian Case. Italian Economic Journal. https://doi.org/10.1007/s40797-022-00195-2
Giancaterini, F., Hecq, A., Morana, C. (2022). Is Climate Change Time-Reversible? Econometrics, 10(4), 36. https://doi.org/10.3390/econometrics10040036
Morana, C. (In press). A new macro-financial condition index for the euro area. Econometrics and Statistics. https://doi.org/10.1016/j.ecosta.2021.09.005
Publications 2021
Bernasconi, M., Galetti, S., Gattai, V., & Natale, P. (2021). Global Sourcing in Times of Covid-19. In Globalization, Deglobalization, and New Paradigms in Business. Palgrave Macmillan. https://doi.org/10.1007/978-3-030-81584-4
Borgoni, R., Carcagnì, A., Michelangeli, A., & Zaccagnini, F. (2021). Attitudes Towards Immigrant Inclusion: A Look at the Spatial Disparities Across European Countries. In P. Mariani & M. Zenga (Eds.), Data Science and Social Research II (pp. 79–90). Springer International Publishing. https://doi.org/10.1007/978-3-030-51222-4_7
Cerniglia, F., Longaretti, R., & Zanardi, A. (2021). How to design decentralisation to curb secessionist pressures? Top-down vs. bottom-up reforms. Structural Change and Economic Dynamics, 58, 377–390. https://doi.org/10.1016/j.strueco.2021.06.010
Crosato, L., Domenech, J., & Liberati, C. (2021). Predicting SME’s default: Are their websites informative? Economics Letters, 204, 109888. https://doi.org/10.1016/j.econlet.2021.109888
Cucchiarini, V., Caravona, L., Macchi, L., Perlino, F. L., & Viale, R. (2021). Behavioral Changes After the COVID-19 Lockdown in Italy. Frontiers in Psychology. https://doi.org/10.3389/fpsyg.2021.617315
Dalla Pellegrina, L., De Michele, A., Di Maio, G., Landoni, P., & Parravicini, S. (2021). Group Meeting Frequency and Borrowers’ Repayment Performance in Microfinance: Evidence from a Quasi-natural Experiment in South Africa. Journal of African Economies, ejab004. https://doi.org/10.1093/jae/ejab004
Dalla Pellegrina, L., Di Maio, G., Landoni, P., & Rusinà, E. (2021). Money management and entrepreneurial training in microfinance: Impact on beneficiaries and institutions. Economia Politica. https://doi.org/10.1007/s40888-021-00217-9
Dalla Pellegrina, L., & Saraceno, M. (2021). Does the open-cell regime foster inmates’ legal capability? Evidence from two Italian prisons. European Journal of Law and Economics. https://doi.org/10.1007/s10657-021-09701-w
Dragomirescu-Gaina, C., & Elia, L. (2021). Technology shocks and sectoral labour market spill-overs. Economics Letters, 201, 109784. https://doi.org/10.1016/j.econlet.2021.109784
Dragomirescu-Gaina, C., & Philippas, D. (2021). Local versus global factors weighing on stock market returns during the COVID-19 pandemic. Finance Research Letters, 102270. https://doi.org/10.1016/j.frl.2021.102270
Gatti, M., & Oliviero, T. (2021). Deposit Insurance and Banks’ Deposit Rates: Evidence from the 2009 EU Policy. International Journal of Central Banking, 17(2). https://www.ijcb.org/journal/ijcb21q2a5.htm
Ghidoni, R., & Suetens, S. (n.d.). The Effect of Sequentiality on Cooperation in Repeated Games. American Economic Journal: Microeconomics. https://doi.org/10.1257/mic.20200268
Gianello, S. (2021a). Il sistema-partito come specchio della concezione democratica di Fidesz. DPCE Online, 46(1). http://www.dpceonline.it/index.php/dpceonline/article/view/1254
Gianello, S. (2021b). Il rinvio pregiudiziale e l’indipendenza dei giudici: Alcune riflessioni a margine di due recenti vicende. Nuovi Autoritarismi e Democrazie: Diritto, Istituzioni, Società (NAD-DIS), 3(1). https://doi.org/10.13130/2612-6672/15829
Gianello, S. (2021c). La complessa relazione tra la Federazione Russa e la CEDU alla luce della riforma costituzionale del 2020. DPCE Online, 47(2). http://www.dpceonline.it/index.php/dpceonline/article/view/1328
Liberati, C., Longaretti, R., & Michelangeli, A. (2021). Measuring Tolerant Behavior. Jahrbücher Für Nationalökonomie Und Statistik, 241(2), 149–171. https://doi.org/10.1515/jbnst-2019-0030
Maffi, L., & Mocarelli, L. (n.d.). Complexity and Efficiency: Milan in the Seventeenth and Eighteenth Centuries. In Italian Victualling Systems in the Early Modern Age, 16th to 18th Century (pp. 37–68). Palgrave Macmillan. https://www.palgrave.com/gp/book/9783030420635
Maffi, L., Tedeschi, P., & Vaquero Piñeiro, M. (n.d.). A New Wine for the International Market: Italian Public Institutions’ Initiatives to Support the Oenological Sector (1870-1910). In Wine, Networks and Scales: Intermediation in the production, distribution and consumption of wine. Peter Lang. https://doi.org/10.3726/b17374/20
Marchesi, S., & Masi, T. (2021). Life after default. Private and official deals. Journal of International Money and Finance, 113, 102339. https://doi.org/10.1016/j.jimonfin.2020.102339
Michelangeli, A. (2021). The Spatial Dimension of Inequality. In S. Colombo (Ed.), Spatial Economics Volume II: Applications (pp. 157–179). Springer International Publishing. https://doi.org/10.1007/978-3-030-40094-1_6
Michelangeli, A., Östh, J., & Türk, U. (2021). Intergenerational Income Mobility in Sweden: A look at the spatial disparities across municipalities. Regional Science Policy & Practice. https://doi.org/10.1111/rsp3.12452
Michelangeli, A., & Türk, U. (2021). Cities as drivers of social mobility. Cities, 108, 102969. https://doi.org/10.1016/j.cities.2020.102969
Mocarelli, L., Ongaro, G., & Tedeschi, P. (2021). The 19th century in the Lombard Alps: The unfulfilled promise of industrialization. Journal of Agrarian Change, 21(3), 545–561. https://doi.org/10.1111/joac.12413
Ongaro, G. (2021). Managing Abundance: Victualling Offices and Cereals Merchants in Eighteenth-Century Ferrara. In Italian Victualling Systems in the Early Modern Age, 16th to 18th Century (pp. 145–173). Palgrave Macmillan. https://www.palgrave.com/gp/book/9783030420635
Viale, R. (2021). The epistemic uncertainty of COVID-19: Failures and successes of heuristics in clinical decision-making. Mind & Society, 20(1), 149–154. https://doi.org/10.1007/s11299-020-00262-0
Viale, R., & Macchi, L. (2021). Analisi comportamentale delle politiche pubbliche. Nudge e interventi basati sulle scienze cognitive. Bologna: Il Mulino.
Publications 2020
Abatayo, A. L., Bosetti, V., Casari, M., Ghidoni, R., & Tavoni, M. (2020). Solar geoengineering may lead to excessive cooling and high strategic uncertainty. Proceedings of the National Academy of Sciences, 117(24), 13393–13398. https://doi.org/10.1073/pnas.1916637117
Carletti, E., Oliviero, T., Pagano, M., Pelizzon, L., & Subrahmanyam, M. G. (2020). The COVID-19 Shock and Equity Shortfall: Firm-Level Evidence from Italy. The Review of Corporate Finance Studies, 9(3), 534–568. https://doi.org/10.1093/rcfs/cfaa014
Cerasi, V., Deininger, S. M., Gambacorta, L., & Oliviero, T. (2020). How post-crisis regulation has affected bank CEO compensation. Journal of International Money and Finance, 102153. https://doi.org/10.1016/j.jimonfin.2020.102153
Dalla Pellegrina, L., Di Maio, G., Masciandaro, D., & Saraceno, M. (2020). Organized crime, suspicious transaction reporting and anti-money laundering regulation. Regional Studies, 1–15. https://doi.org/10.1080/00343404.2020.1772963
Dalla Pellegrina, L., Garoupa, N., & Gili, M. (2020). Estimating Judicial Ideal Points in Bi-Dimensional Courts: Evidence from Catalonia. Journal of Empirical Legal Studies, jels.12251. https://doi.org/10.1111/jels.12251
Etro, F., Marchesi, S., & Stepanova, E. (2020). Liberalizing art. Evidence on the Impressionists at the end of the Paris Salon. European Journal of Political Economy, 101857. https://doi.org/10.1016/j.ejpoleco.2020.101857
Marchesi, S., & Masi, T. (2020a). Sovereign rating after private and official restructuring. Economics Letters, 109178. https://doi.org/10.1016/j.econlet.2020.109178
Marchesi, S., & Masi, T. (2020b). Delegation of implementation in project aid. The Review of International Organizations. https://doi.org/10.1007/s11558-020-09396-9
Marchesi, S., & Masi, T. (2020c). Life after default. Private and Official Deals. Journal of International Money and Finance, 102339. https://doi.org/10.1016/j.jimonfin.2020.102339
Tedeschi, P. (2020). An economic resource or a social problem? European institutions and migrants from the 1950s to the 1970s: the case of Belgium. In Economic and Social Perspectives on European Migration. Routledge. https://www.taylorfrancis.com/chapters/edit/10.4324/9781003045915-8/economic-resource-social-problem-paolo-tedeschi
Publications 2019
Albonico, A., Calés, L., Cardani, R., Croitorov, O., Ferroni, F., Giovannini, M., … Vogel, L. (2019). Comparing post-crisis dynamics across Euro Area countries with the Global Multi-country model. Economic Modelling, S0264999318307958. https://doi.org/10.1016/j.econmod.2019.04.016
Albonico, A., Paccagnini, A., & Tirelli, P. (2019). Limited Asset Market Participation And The Euro Area Crisis: An Empirical Dsge Model. Economic Inquiry, 57(3), 1302–1323. https://doi.org/10.1111/ecin.12791
Bastianin, A., Galeotti, M., & Polo, M. (2019). Convergence of European natural gas prices. Energy Economics, 81, 793–811. https://doi.org/10.1016/j.eneco.2019.05.017
Belloni, M., Cavapozzi, D., Dal Bianco, C., Pan, Y., & Trucchi, S. (2019). 9. How do early-life conditions shape health age profiles late in life? In A. Börsch-Supan, J. Bristle, K. Andersen-Ranberg, A. Brugiavini, F. Jusot, H. Litwin, & G. Weber (Eds.), Health and socio-economic status over the life course (pp. 91–98). https://doi.org/10.1515/9783110617245-009
Borgoni, R., Degli Antoni, G., Faillo, M., & Michelangeli, A. (2019). Natives, immigrants and social cohesion: Intra-city analysis combining the hedonic approach and a framed field experiment. International Review of Applied Economics, 33(5), 697–711. https://doi.org/10.1080/02692171.2018.1518412
Bosco, B., & Poggi, A. (2019). Middle Class, Government Effectiveness and Poverty in the EU: A Dynamic Multilevel Analysis: XXXX. Review of Income and Wealth. https://doi.org/10.1111/roiw.12403
Carniti, E., Cerniglia, F., Longaretti, R., & Michelangeli, A. (2019). Decentralization and economic growth in Europe: For whom the bell tolls. Regional Studies, 53(6), 775–789. https://doi.org/10.1080/00343404.2018.1494382
Cerasi, V., Chizzolini, B., & Ivaldi, M. (2019). A test of the impact of mergers on bank competition. Economic Notes, 48(2). https://doi.org/10.1111/ecno.12135
Colciago, A., Samarina, A., & de Haan, J. (2019). Central Bank Policies And Income And Wealth Inequality: A Survey: Cb Policies And Inequality. Journal of Economic Surveys. https://doi.org/10.1111/joes.12314
Comi, S., Grasseni, M., Origo, F., & Pagani, L. (2019). Where Women Make a Difference: Gender Quotas and Firms’ Performance in Three European Countries. ILR Review, 001979391984645. https://doi.org/10.1177/0019793919846450
Corsino, M., Mariani, M., & Torrisi, S. (2019). Firm strategic behavior and the measurement of knowledge flows with patent citations. Strategic Management Journal, 40(7), 1040–1069. https://doi.org/10.1002/smj.3016
Frattini, T., & Meschi, E. (2019). The effect of immigrant peers in vocational schools. European Economic Review, 113, 1–22. https://doi.org/10.1016/j.euroecorev.2018.12.005
Meschi, E., Swaffield, J., & Vignoles, A. (2019). The role of local labour market conditions and pupil attainment on post-compulsory schooling decisions. International Journal of Manpower, IJM-11-2017-0303. https://doi.org/10.1108/IJM-11-2017-0303
Morana, C., & Sbrana, G. (2019). Climate change implications for the catastrophe bonds market: An empirical analysis. Economic Modelling, 81, 274–294. https://doi.org/10.1016/j.econmod.2019.04.020
Pagani, L., Comi, S., & Origo, F. (2019). The Effect of School Rank on Personality Traits. Journal of Human Resources, 1218-9916R2. https://doi.org/10.3368/jhr.56.4.1218-9916R2
Publications 2018
Anand, P., & Poggi, A. (2018). Do Social Resources Matter? Social Capital, Personality Traits, and the Ability to Plan Ahead: Do Social Resources Matter? Social Capital, Personality Traits, and the Ability to Plan Ahead. Kyklos, 71(3), 343–373. https://doi.org/10.1111/kykl.12173
Baiardi, D., & Morana, C. (2018). Financial development and income distribution inequality in the euro area. Economic Modelling, 70, 40–55. https://doi.org/10.1016/j.econmod.2017.10.008
Basteck, C., & Mantovani, M. (2018). Cognitive ability and games of school choice. Games and Economic Behavior, 109, 156–183. https://doi.org/10.1016/j.geb.2017.12.011
Cardani, R., Menna, L., & Tirelli, P. (2018). The Optimal Policy Mix To Achieve Public Debt Consolidation. Macroeconomic Dynamics, 1–17. https://doi.org/10.1017/S1365100518000433
Colciago, A. (2018). Structural Reforms and Endogenous Market Structures. In J. de Haan & J. Parlevliet (Eds.), Structural Reforms (pp. 199–219). Springer International Publishing. https://doi.org/10.1007/978-3-319-74400-1_9
Corsino, M., Giuri, P., & Torrisi, S. (2018). Technology spin-offs: Teamwork, autonomy, and the exploitation of business opportunities. The Journal of Technology Transfer. https://doi.org/10.1007/s10961-018-9669-1
Dalla Pellegrina, L., Saraceno, M., & Suardi, M. (2018). Migration policy: Did an emergency provision displace standard rules? Evidence from Italy. Economia Politica, 35(3), 863–893. https://doi.org/10.1007/s40888-018-0128-0
Dreher, A., Gehring, K., Kotsogiannis, C., & Marchesi, S. (2018). Information transmission within federal fiscal architectures: Theory and evidence. Oxford Economic Papers, 70(1), 243–265. https://doi.org/10.1093/oep/gpx036
Fauri, F., & Tedeschi, P. (Eds.). (2018). Integration and entrepreneurship among migrant workers: A long-term view (1st edition 2018). Palgrave Macmillan.
Gattai, V., & Sali, G. (2018). FDI direction, FDI margin, and heterogeneous firms: Evidence from the EU. International Review of Applied Economics, 32(3), 283–307. https://doi.org/10.1080/02692171.2017.1342777
Marchesi, S. (2018). Communication and performance in Bank–Fund joint participation. Research in Economics, 72(2), 263–276. https://doi.org/10.1016/j.rie.2017.11.001
Ottone, S., Ponzano, F., & Andrighetto, G. (2018). Tax compliance under different institutional settings in Italy and Sweden: An experimental analysis. Economia Politica, 35(2), 367–402. https://doi.org/10.1007/s40888-018-0093-7
Publications 2017
Bagliano, F. C., & Morana, C. (2017). It ain’t over till it’s over: A global perspective on the Great Moderation-Great Recession interconnection. Applied Economics, 49(49), 4946–4969. https://doi.org/10.1080/00036846.2017.1296553
Corsino, M., Mariani, M., & Torrisi, S. (2017). On the Measurement of Knowledge Flows with Patent Citations. Academy of Management Proceedings, 2017(1), 12075. https://doi.org/10.5465/AMBPP.2017.123
d’Errico, R. M. M., Besana, C., & Ghezzi, R. (Eds.). (2017). Cheese Manufacturing in the Twentieth Century. Peter Lang B. https://doi.org/10.3726/b11644
Dalla Pellegrina, L. D., Frazzoni, S., Rotondi, Z., & Vezzulli, A. (2017). Does ICT adoption improve access to credit for small enterprises? Small Business Economics, 48(3), 657–679. https://doi.org/10.1007/s11187-016-9794-x
Dalla Pellegrina, L., De Mot, J., Faure, M., & Garoupa, N. (2017). Litigating Federalism: An Empirical Analysis of Decisions of the Belgian Constitutional Court. European Constitutional Law Review, 13(2), 305–346. https://doi.org/10.1017/S1574019617000050
Dalla Pellegrina, L., Garoupa, N., & Gómez-Pomar, F. (2017). Estimating judicial ideal points in the Spanish Supreme Court: The case of administrative review. International Review of Law and Economics, 52, 16–28. https://doi.org/10.1016/j.irle.2017.07.003
Dreher, A., Langlotz, S., & Marchesi, S. (2017). Information transmission and ownership consolidation in aid programs. Economic Inquiry, 55(4), 1671–1688. https://doi.org/10.1111/ecin.12450
Ferrara, M., & Tirelli, P. (2017). Equitable fiscal consolidations. Economic Modelling, 61, 207–223. https://doi.org/10.1016/j.econmod.2016.11.022
Giachetti, C., & Torrisi, S. (2018). Following or Running Away from the Market Leader? The Influences of Environmental Uncertainty and Market Leadership: Following or Running Away from the Market Leader? European Management Review, 15(3), 445–463. https://doi.org/10.1111/emre.12130
Menna, L., & Tirelli, P. (2017). Optimal inflation to reduce inequality. Review of Economic Dynamics, 24, 79–94. https://doi.org/10.1016/j.red.2017.01.004
Morana, C. (2017a). Macroeconomic and financial effects of oil price shocks: Evidence for the euro area. Economic Modelling, 64, 82–96. https://doi.org/10.1016/j.econmod.2017.03.016
Morana, C. (2017b). The US Dollar/Euro Exchange Rate: Structural Modeling and Forecasting During the Recent Financial Crises: The US Dollar/Euro Exchange Rate: Structural Modeling and Forecasting During the Recent Financial Crises. Journal of Forecasting, 36(8), 919–935. https://doi.org/10.1002/for.2430