In: Studies in Nonlinear Dynamics & Econometrics, 2017, vol. 21, no. 1, p. 99-116
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In: PROSPECTS, 2015, vol. 45, no. 1, p. 63-76
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In: Journal of African Economies, 2018, vol. 27, no. 2, p. 172-200
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In: International Journal of Political Economy, 2016, vol. 45, no. 1, p. 72-84
This article explains why the euro has to be abandoned in order to integrate the euro- area member countries monetarily. It first recalls the negative consequences of the adoption of a single European currency by a number of countries whose economies are still too different on structural grounds to support the financial constraints elicited by the fiscal and monetary policy straightjacket. It...
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In: Bulletin of Political Economy, 2020, vol. 14, no. 2, p. 203-217
Financial stability has been a largely-debated issue since the bursting of the global financial crisis in 2008. Central banks seem to have discovered that price stability on the market for produced goods and services is not enough to avoid financial instability through monetary policy interventions. This paper explains that, in fact, both pre- and postcrisis interventions by monetary...
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Thèse de doctorat : Université de Fribourg, 2015.
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Thèse de doctorat : Università della Svizzera italiana, 2020 ; 2020ECO005.
This thesis consists of three chapters that contribute to two fundamental questions in finance: how households make financial decisions and how market prices react to uninformative demand shocks. The first chapter investigates how household respond to mortgage refinancing incentives. A well-documented finding in household finance is that many borrowers miss out on substantial savings by...
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Thèse de doctorat : Università della Svizzera italiana, 2020 ; 2020ECO002.
My dissertation consists of three chapters, each of which focuses on a different area of research in asset pricing. The first chapter deals with the informational role of brokerage firms during fire sales in the equity market. The second chapter exploits the ETF program by the bank of Japan as a quasi-natural experiment to measure the slope of the equity demand curve. The last chapter presents...
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In: Homo economicus, 2016, vol. 33, no. 1-2, p. 157-172
Despite the rich stream of research that evolved from Hotelling’s spatial competition model, the fact that firms’ strategies are constrained by their technological capabilities, the legal environment, or overriding corporate strategies is commonly neglected. We study a model of Hotelling–Downs competition in which two firms choose a position along a one-dimensional market given that...
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Thèse de doctorat : Università della Svizzera italiana, 2018 ; 2018ECO015.
We investigate the shape of risk appetite when the bank is financed also with contingent convertible bonds (CoCos). Our contribution to the existent literature is to assess risk appetite in a multi-dimensional perspective and to account for differences among banks' clusters, especially in a world with CoCos and policy rates approaching zero or negative figures. In our model, the bank objective...
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