I am a Senior Economist at Banca d'Italia.
My research interests are in International Finance, International Trade, and Networks.

Here's my Curriculum Vitae.

Publications

Working Papers

  • Global Financial Chains (new draft coming soon)
    with Raoul Minetti and Oren Ziv Presented at the 2024 Bank of Italy–EIEF Financial Intermediation Workshop; NBER Summer Institute 2024; Luiss Business School; the 2024 ECB–Federal Reserve Board–Federal Reserve Bank of New York Global Research Forum on International Macroeconomics and Finance; the EEA 2025 Congress; and CEPR–IMF 2025.
  • The Impact of Trade Wars on Firms in Third Countries (submitted) [VoxEU]
    with Francesco Paolo Conteduca, Marco Errico, Fabrizio Leone, Ludovic Panon
  • Beyond Firm Size: Network Position and Shock Transmission in Firm-to-Firm Production Networks across Five Economies (first draft coming soon)
    with G. Magerman, A. Palazzolo, E. Dhyne, A. Borsos, D. Kulikov, A. Linarello, A. Paulus, and M. Saldias

Work in Progress

  • Inside Out: The Allocative Impact of Firms’ Make-or-Buy Decisions on Aggregate Energy Intensity
    with Carole Marullaz
  • Geopolitical Tensions, Trade Exposure and Bank Lending
    with Fabio Massimo Piersanti
  • Does JIT Production Change the Network Structure of GVCs? Evidence from Italian Firms
    with Simona Giglioli

Discussions

  • Trade, Multinationals and Corporate Taxation by Dubus, Ferrari, and Parenti.
    2025 Bank of Italy, ECB, and World Bank workshop on “Trade, Value Chains and Financial Linkages in the Global Economy.”
  • Beyond Bilateral Flows: Indirect Connections and Exchange Rates by Bahaj, Della Corte, Massacci, and Seyde.
    2025 BIS, Bank of England, ECB, and IMF Spillover Conference.
  • Trade Intermediation and Resilience in Global Sourcing by Perelló.
    2024 Bank of Italy, ECB, and World Bank workshop on “Trade, Value Chains and Financial Linkages in the Global Economy.”
  • The Ripple Effect: Supply Chain Reconfigurations and Cross-Border Credit Dynamics by Correa, Fabiani, Ossandon, and Sarmiento.
    2024 10th Annual Banking Research Network Workshop.
  • A Sufficient Statistics Approach for Endogenous Production Networks: Theory and Evidence from Ukraine’s War by Korovkin, Makarin, and Miyauchi.
    2023 Bank of Italy, ECB, and World Bank workshop on “Trade, Value Chains and Financial Linkages in the Global Economy.”

Policy Work

  • The Effects of US Tariffs on Italian Firms: An Ex-Ante Micro-Level Perspective (2025) [paper]
    with Stefano Federico and Fadi Hassan.