Details about Andrea Zaghini

Homepage:	https://sites.google.com/view/andreazaghini
Workplace:	Banca d'Italia (Bank of Italy), (more information at EDIRC)

Access statistics for papers by Andrea Zaghini.

Last updated 2025-04-07. Update your information in the RePEc Author Service.

Short-id: pza60

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Working Papers

2025

1. The intersection between climate transition policies and geoeconomic fragmentation
   Occasional Paper Series, European Central Bank

2024

2. Is the government always greener?
   CFS Working Paper Series, Center for Financial Studies (CFS) View citations (1)
3. It better be good, it better be green
   CFS Working Paper Series, Center for Financial Studies (CFS)
4. The green sin: how exchange rate volatility and financial openness affect green premia
   Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area
   Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2023) View citations (2)
5. Unconventionally green
   Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area
   Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2023) View citations (1)
   See also Journal Article Unconventional green, Journal of Corporate Finance, Elsevier (2024) (2024)

2022

6. It’s not time to make a change: sovereign fragility and the corporate credit risk
   Working Paper Series, European Central Bank View citations (3)
   Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2021)
   See also Journal Article It’s not time to make a change: Sovereign fragility and the corporate credit risk, Journal of International Money and Finance, Elsevier (2022) View citations (1) (2022)
7. The role of the IMF in addressing climate change risks
   Occasional Paper Series, European Central Bank

2021

8. Non-bank financial intermediation in the euro area: implications for monetary policy transmission and key vulnerabilities
   Occasional Paper Series, European Central Bank View citations (6)
9. The Covid pandemic in the market: Infected, immune and cured bonds
   CFS Working Paper Series, Center for Financial Studies (CFS) View citations (2)
   Also in Working Paper Series, European Central Bank (2021) View citations (2)
   See also Journal Article The Covid pandemic in the market: infected, immune and cured bonds, Journal of Financial Services Research, Springer (2025) (2025)
10. Unconventional monetary policy and corporate bond issuance
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (15)
    Also in Working Paper Series, European Central Bank (2019) View citations (17)
    See also Journal Article Unconventional monetary policy and corporate bond issuance, European Economic Review, Elsevier (2021) View citations (10) (2021)

2019

11. The CSPP at work - yield heterogeneity and the portfolio rebalancing channel
    Working Paper Series, European Central Bank View citations (37)
    Also in Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2017) View citations (5)
    See also Journal Article The CSPP at work: Yield heterogeneity and the portfolio rebalancing channel, Journal of Corporate Finance, Elsevier (2019) View citations (37) (2019)

2017

12. A tale of fragmentation: corporate funding in the euro-area bond market
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (8)
    See also Journal Article A tale of fragmentation: Corporate funding in the euro-area bond market, International Review of Financial Analysis, Elsevier (2017) View citations (8) (2017)
13. Systemic risk and systemic importance measures during the crisis
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (2)

2016

14. Fragmentation and heterogeneity in the euro-area corporate bond market: Back to normal?
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (29)
    See also Journal Article Fragmentation and heterogeneity in the euro-area corporate bond market: Back to normal?, Journal of Financial Stability, Elsevier (2016) View citations (29) (2016)

2015

15. FINANCIAL SHOCKS AND THE REAL ECONOMY IN A NONLINEAR WORLD: FROM THEORY TO ESTIMATION
    Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium, Ghent University, Faculty of Economics and Business Administration View citations (22)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2015) View citations (18)
    See also Journal Article Financial shocks and the real economy in a nonlinear world: From theory to estimation, Journal of Policy Modeling, Elsevier (2015) View citations (16) (2015)
16. Financial shocks and the real economy in a nonlinear world: a survey of the theoretical and empirical literature
    Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area View citations (13)
17. Shoe-leather costs in the euro area and the foreign demand for euro banknotes
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (1)
    Also in Working Paper Series, European Central Bank (2015) View citations (1)
    See also Journal Article Shoe-Leather Costs in the Euro Area and the Foreign Demand for Euro Banknotes, International Journal of Central Banking, International Journal of Central Banking (2016) (2016)
18. Tracking banks' systemic importance before and after the crisis
    Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area View citations (2)
    See also Journal Article Tracking Banks’ Systemic Importance Before and After the Crisis, International Finance, Wiley Blackwell (2015) View citations (4) (2015)

2014

19. Bank bonds: Size, systemic relevance and the sovereign
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (10)
    Also in Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2014) View citations (10)
    See also Journal Article Bank Bonds: Size, Systemic Relevance and the Sovereign, International Finance, Wiley Blackwell (2014) View citations (12) (2014)
20. Everything you always wanted to know about systemic importance (but were afraid to ask)
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (1)
21. The cost of firms� debt financing and the global financial crisis
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (15)

2013

22. The cost of firms' debt financing
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (4)

2012

23. Financial innovation, macroeconomic volatility and the great moderation
    MPRA Paper, University Library of Munich, Germany View citations (4)
24. The recent trends in long-term bank funding
    Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area View citations (6)

2011

25. Sectoral money demand and the great disinflation in the US
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (5)
    Also in Working Paper Series, European Central Bank (2010) View citations (6)
26. The impact of sovereign credit risk on bank funding conditions
    MPRA Paper, University Library of Munich, Germany View citations (33)
    See also Book The impact of sovereign credit risk on bank funding conditions, CGFS Papers, Bank for International Settlements (2011) View citations (69) (2011)
27. Welfare costs of inflation and the circulation of U. S. currency abroad
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (3)
    Also in Working Paper Series, European Central Bank (2011) View citations (5)
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2011) View citations (3)
    See also Journal Article Welfare Costs of Inflation and the Circulation of U.S. Currency Abroad, The B.E. Journal of Macroeconomics, De Gruyter (2011) View citations (5) (2011)

2010

28. The pricing of government-guaranteed bank bonds
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (13)

2009

29. An assessment of financial sector rescue programmes
    Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area View citations (134)
    See also Book An assessment of financial sector rescue programmes, BIS Papers, Bank for International Settlements (2009) View citations (60) (2009)
30. Gradualism, transparency and the improved operational framework: a look at the overnight volatility transmission
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (9)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2007) View citations (6)
    See also Journal Article Gradualism, Transparency and the Improved Operational Framework: A Look at Overnight Volatility Transmission, International Finance, Wiley Blackwell (2009) View citations (9) (2009)

2008

31. A disaggregated analysis of the export performance of some industrial and emerging countries
    MPRA Paper, University Library of Munich, Germany View citations (5)
    See also Journal Article A disaggregated analysis of the export performance of some industrial and emerging countries, International Economics and Economic Policy, Springer (2011) View citations (11) (2011)
32. Excess money growth and inflation dynamics
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (6)
    Also in Working Paper Series, European Central Bank (2007) View citations (57)
    See also Journal Article Excess Money Growth and Inflation Dynamics, International Finance, Wiley Blackwell (2007) View citations (41) (2007)
33. Increasing public expenditures: Wagner's law in OECD countries
    CFS Working Paper Series, Center for Financial Studies (CFS) View citations (21)
    See also Journal Article Increasing Public Expenditure: Wagner's Law in OECD Countries, German Economic Review, Verein für Socialpolitik (2011) View citations (59) (2011)
34. Nonlinearities in the dynamics of the euro area demand for M1
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area
    See also Journal Article NONLINEARITIES IN THE DYNAMICS OF THE EURO AREA DEMAND FOR M1, Macroeconomic Dynamics, Cambridge University Press (2009) View citations (7) (2009)

2007

35. Global Monetary Policy Shocks in the G5: a SVAR Approach
    CEIS Research Paper, Tor Vergata University, CEIS View citations (40)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2006) View citations (24)
    See also Journal Article Global monetary policy shocks in the G5: A SVAR approach, Journal of International Financial Markets, Institutions and Money, Elsevier (2007) View citations (31) (2007)
36. Monetary Policy Shocks in the Euro Area and Global Liquidity Spillovers
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (12)
    Also in Working Paper Series, European Central Bank (2004) View citations (28)
    See also Journal Article Monetary policy shocks in the euro area and global liquidity spillovers, International Journal of Finance & Economics, John Wiley & Sons, Ltd. (2008) View citations (25) (2008)

2006

37. Non-linear dynamics in the euro area demand for M1
    Working Paper Series, European Central Bank View citations (5)

2005

38. Evolution of trade patterns in the new EU member states
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (69)
    See also Journal Article Evolution of trade patterns in the new EU member states, The Economics of Transition, The European Bank for Reconstruction and Development (2005) View citations (67) (2005)
39. International specialization models in Latin America: the case of Argentina
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (8)
40. Monetary policy predictability in the euro area: An international comparison
    Working Paper, Norges Bank View citations (15)
    Also in Working Paper Series, European Central Bank (2005) View citations (15)
    See also Journal Article Monetary policy predictability in the euro area: an international comparison, Applied Economics, Taylor & Francis Journals (2011) View citations (15) (2011)

2003

41. Trade advantages and specialisation dynamics in acceding countries
    Working Paper Series, European Central Bank View citations (36)

2001

42. The Role of the Banking System in the International Transmission of Shocks
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (21)
    See also Journal Article The Role of the Banking System in the International Transmission of Shocks, The World Economy, Wiley Blackwell (2003) View citations (23) (2003)

2000

43. Expectations and Information in Second Generation Currency Crises Models
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (5)
    Also in Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (2000) View citations (12)
    Working Papers, Banca Italia - Servizio di Studi (2000) View citations (3)
    See also Journal Article Expectations and information in second generation currency crises models, Economic Modelling, Elsevier (2001) View citations (28) (2001)

1999

44. The Economic Policy of Fiscal Consolidations: The European Experience
    Working Papers, Banca Italia - Servizio di Studi View citations (28)
    Also in Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area (1999) View citations (7)

Journal Articles

2025

1. Correction to: The Covid Pandemic in the Market: Infected, Immune and Cured Bonds
   Journal of Financial Services Research, 2025, 67, (1), 53-53
2. The Covid pandemic in the market: infected, immune and cured bonds
   Journal of Financial Services Research, 2025, 67, (1), 31-52
   See also Working Paper The Covid pandemic in the market: Infected, immune and cured bonds, CFS Working Paper Series (2021) View citations (2) (2021)

2024

3. Unconventional green
   Journal of Corporate Finance, 2024, 85, (C)
   See also Working Paper Unconventionally green, Temi di discussione (Economic working papers) (2024) (2024)

2022

4. It’s not time to make a change: Sovereign fragility and the corporate credit risk
   Journal of International Money and Finance, 2022, 128, (C) View citations (1)
   See also Working Paper It’s not time to make a change: sovereign fragility and the corporate credit risk, Working Paper Series (2022) View citations (3) (2022)

2021

5. Unconventional monetary policy and corporate bond issuance
   European Economic Review, 2021, 135, (C) View citations (10)
   See also Working Paper Unconventional monetary policy and corporate bond issuance, CFS Working Paper Series (2021) View citations (15) (2021)

2020

6. How ECB purchases of corporate bonds helped reduce firms’ borrowing costs
   Research Bulletin, 2020, 66 View citations (1)

2019

7. The CSPP at work: Yield heterogeneity and the portfolio rebalancing channel
   Journal of Corporate Finance, 2019, 56, (C), 282-297 View citations (37)
   See also Working Paper The CSPP at work - yield heterogeneity and the portfolio rebalancing channel, Working Paper Series (2019) View citations (37) (2019)

2018

8. Future directions in international financial integration research - A crowdsourced perspective
   International Review of Financial Analysis, 2018, 55, (C), 35-49 View citations (22)

2017

9. A tale of fragmentation: Corporate funding in the euro-area bond market
   International Review of Financial Analysis, 2017, 49, (C), 59-68 View citations (8)
   See also Working Paper A tale of fragmentation: corporate funding in the euro-area bond market, Temi di discussione (Economic working papers) (2017) View citations (8) (2017)

2016

10. Fragmentation and heterogeneity in the euro-area corporate bond market: Back to normal?
    Journal of Financial Stability, 2016, 23, (C), 51-61 View citations (29)
    See also Working Paper Fragmentation and heterogeneity in the euro-area corporate bond market: Back to normal?, CFS Working Paper Series (2016) View citations (29) (2016)
11. Shoe-Leather Costs in the Euro Area and the Foreign Demand for Euro Banknotes
    International Journal of Central Banking, 2016, 12, (1), 231-246
    See also Working Paper Shoe-leather costs in the euro area and the foreign demand for euro banknotes, Temi di discussione (Economic working papers) (2015) View citations (1) (2015)

2015

12. Financial shocks and the real economy in a nonlinear world: From theory to estimation
    Journal of Policy Modeling, 2015, 37, (6), 915-929 View citations (16)
    See also Working Paper FINANCIAL SHOCKS AND THE REAL ECONOMY IN A NONLINEAR WORLD: FROM THEORY TO ESTIMATION, Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium (2015) View citations (22) (2015)
13. Tracking Banks’ Systemic Importance Before and After the Crisis
    International Finance, 2015, 18, (2), 157-186 View citations (4)
    See also Working Paper Tracking banks' systemic importance before and after the crisis, Questioni di Economia e Finanza (Occasional Papers) (2015) View citations (2) (2015)

2014

14. Bank Bonds: Size, Systemic Relevance and the Sovereign
    International Finance, 2014, 17, (2), 161-184 View citations (12)
    See also Working Paper Bank bonds: Size, systemic relevance and the sovereign, CFS Working Paper Series (2014) View citations (10) (2014)
15. The cost of firms’ debt financing and the global financial crisis
    Finance Research Letters, 2014, 11, (2), 74-83 View citations (17)

2012

16. Public Guarantees on Bank Bonds: Effectiveness and Distortions
    OECD Journal: Financial Market Trends, 2012, 2011, (2), 47-72 View citations (11)

2011

17. A disaggregated analysis of the export performance of some industrial and emerging countries
    International Economics and Economic Policy, 2011, 8, (1), 93-113 View citations (11)
    See also Working Paper A disaggregated analysis of the export performance of some industrial and emerging countries, MPRA Paper (2008) View citations (5) (2008)
18. Increasing Public Expenditure: Wagner's Law in OECD Countries
    German Economic Review, 2011, 12, (2), 149-164 View citations (59)
    Also in German Economic Review, 2011, 12, (2), 149-164 (2011) View citations (16)
    See also Working Paper Increasing public expenditures: Wagner's law in OECD countries, CFS Working Paper Series (2008) View citations (21) (2008)
19. Monetary policy predictability in the euro area: an international comparison
    Applied Economics, 2011, 43, (20), 2533-2544 View citations (15)
    See also Working Paper Monetary policy predictability in the euro area: An international comparison, Working Paper (2005) View citations (15) (2005)
20. Welfare Costs of Inflation and the Circulation of U.S. Currency Abroad
    The B.E. Journal of Macroeconomics, 2011, 11, (1), 21 View citations (5)
    See also Working Paper Welfare costs of inflation and the circulation of U. S. currency abroad, Globalization Institute Working Papers (2011) View citations (3) (2011)

2010

21. Sectoral Money Demand and the Great Disinflation in the United States
    Journal of Money, Credit and Banking, 2010, 42, (8), 1663-1678 View citations (7)
    Also in Journal of Money, Credit and Banking, 2010, 42, (8), 1663-1678 (2010) View citations (1)

2009

22. Gradualism, Transparency and the Improved Operational Framework: A Look at Overnight Volatility Transmission
    International Finance, 2009, 12, (2), 151-170 View citations (9)
    See also Working Paper Gradualism, transparency and the improved operational framework: a look at the overnight volatility transmission, Temi di discussione (Economic working papers) (2009) View citations (9) (2009)
23. NONLINEARITIES IN THE DYNAMICS OF THE EURO AREA DEMAND FOR M1
    Macroeconomic Dynamics, 2009, 13, (1), 1-19 View citations (7)
    See also Working Paper Nonlinearities in the dynamics of the euro area demand for M1, Temi di discussione (Economic working papers) (2008) (2008)

2008

24. Monetary policy shocks in the euro area and global liquidity spillovers
    International Journal of Finance & Economics, 2008, 13, (3), 205-218 View citations (25)
    See also Working Paper Monetary Policy Shocks in the Euro Area and Global Liquidity Spillovers, Temi di discussione (Economic working papers) (2007) View citations (12) (2007)

2007

25. Excess Money Growth and Inflation Dynamics
    International Finance, 2007, 10, (3), 241-280 View citations (41)
    See also Working Paper Excess money growth and inflation dynamics, Temi di discussione (Economic working papers) (2008) View citations (6) (2008)
26. Global monetary policy shocks in the G5: A SVAR approach
    Journal of International Financial Markets, Institutions and Money, 2007, 17, (5), 403-419 View citations (31)
    See also Working Paper Global Monetary Policy Shocks in the G5: a SVAR Approach, CEIS Research Paper (2007) View citations (40) (2007)

2006

27. Commercial Specialisation in the Countries of Central-Eastern Europe
    QA - Rivista dell'Associazione Rossi-Doria, 2006, (3)

2005

28. Evolution of trade patterns in the new EU member states
    The Economics of Transition, 2005, 13, (4), 629-658 View citations (67)
    See also Working Paper Evolution of trade patterns in the new EU member states, Temi di discussione (Economic working papers) (2005) View citations (69) (2005)

2003

29. The Role of the Banking System in the International Transmission of Shocks
    The World Economy, 2003, 26, (5), 727-754 View citations (23)
    See also Working Paper The Role of the Banking System in the International Transmission of Shocks, Temi di discussione (Economic working papers) (2001) View citations (21) (2001)

2001

30. Expectations and information in second generation currency crises models
    Economic Modelling, 2001, 18, (2), 203-222 View citations (28)
    See also Working Paper Expectations and Information in Second Generation Currency Crises Models, Econometric Society World Congress 2000 Contributed Papers (2000) View citations (5) (2000)
31. Fiscal adjustments and economic performing: a comparative study
    Applied Economics, 2001, 33, (5), 613-624 View citations (12)
32. Nuovi approcci alla politica fiscale ed evidenza empirica
    Economia politica, 2001, (3), 427-460

Books

2011

1. The impact of sovereign credit risk on bank funding conditions
   CGFS Papers, Bank for International Settlements View citations (69)
   See also Working Paper The impact of sovereign credit risk on bank funding conditions, MPRA Paper, University Library of Munich, Germany (2011) View citations (33) (2011)

2009

2. An assessment of financial sector rescue programmes
   BIS Papers, Bank for International Settlements View citations (60)
   See also Working Paper An assessment of financial sector rescue programmes, Questioni di Economia e Finanza (Occasional Papers), Bank of Italy, Economic Research and International Relations Area (2009) View citations (134) (2009)

Chapters

2001

1. Crises and contagion: the role of the banking system
   A chapter in Marrying the macro- and micro-prudential dimensions of financial stability, 2001, vol. 01, pp 241-260 View citations (10)