• Foreign banks and the doom loop 

      Albertazzi, Ugo; Cimadomo, Jacopo; Maffei-Faccioli, Nicolò (Working paper;2/2022, Working paper, 2022)
      This paper explores whether foreign banks stabilise or destabilise lending to the real economy in the presence of sovereign stress in the domestic economy and abroad. In this context, the presence of foreign intermediaries ...
    • Identifying the sources of the slowdown in growth: Demand vs. supply 

      Maffei-Faccioli, Nicolò (Working Paper;9/2021, Working paper, 2021)
      Long-run GDP growth has declined in the United States over the past two decades. Two competing views take the stage in accounting for this slowdown: demand-side and supply-side. I empirically quantify their relative ...
    • Nonlinear transmission of financial shocks: Some new evidence 

      Forni, Mario; Gambetti, Luca; Maffei-Faccioli, Nicolò; Sala, Luca (Working paper;3/2022, Working paper, 2022)
      Financial shocks generate a protracted and quantitatively important effect on real economic activity and financial markets only if the shocks are both negative and large. Otherwise, their role is quite modest. Financial ...