top of page

Welcome to my personal web page

Home: Benvenuto

About me

I hold a Ph.D in Economics at the University of Cagliari, Italy. The title of my PhD-thesis is 'Empirical essays in income inequality and finance'. I spent half of my Ph.D abroad, first at The University of Bergen and afterwards at the Norwegian School of economic.  My research interests lie in the fields of income inequality, households finance, macroeconomics and banking.  

I am also interested in law and economics, labour economics, and microeconometrics.

Home: Chi sono

Research Projects

 Here you can find a brief abstract of my working papers. More to come!

 This paper investigates if, and to what extent, banking structural reforms may affect the top income shares over time. Canada and Italy are used as case studies, as both countries undertook a major deregulation process within their banking sector in the early 1990s. These banking policies aimed at privatizing the banking sector and reintroducing the 'quasi universal banking model'. The evaluation of these policy packages is undertaken by implementing the `Synthetic Control Methodology'. Findings point out a robust and substantial increase in some of the top income shares in both countries in the period post-deregulation. This work contributes by also identifying the main potential mechanisms -both direct and indirect- via which banking deregulation might have operated.

'Banking deregulation and households' consumption behaviour. The case of Italy in the early 90's'.

   This paper evaluates whether Italian banking deregulation in the early 1990s has affected households' consumption insurance. The ‘Survey of households’ income and wealth’ (SHIW) from the Bank of Italy is used to exploit the high degree of heterogeneity among them. I study whether structural banking reforms aiming at privatising the banking sector, eliminating the regulatory constraints on branching and reintroducing the `universal banks' have changed the consumption's response to unanticipated income shocks of households, in a setting of `partial insurance model'. Results point out that structural changes within the banking sector, as a result of deregulation, have positively affected the ability of households to insure against unanticipated permanent income shocks, while no significant changes have been found with respect to transitory ones. This works also contributes by identifying the main channels of transmission via which the banking deregulation has affected households'insurance.

'Income inequality and financial development: a multidimensional approach. Evidence from panel data.'

This work investigates the link between income inequality and financial development, by studying a heterogenous sample of countries between 1960 and 2014. Three main dimensions are tested: the structure (banking versus stock market systems), the depth (amount of aggregate credit lent to private sector and also disaggregated between households and firms) and the efficiency (lending-deposit spread). We also test whether the level of economic development and the real economy  structure may interfere with the way financial development does a¤ect income inequality. Both the static fixed effect and the dynamic GMM estimator apply to our sample. Results of this work suggests that i) banking indicators tend to be associated with higher level of inequality, while stock market systems are found to enhance a more egalitarian income distribution; ii) a U-shaped pattern is depicted in data when the depth dimension is tested, suggesting that .too much credit is pro-inequality; iii) who gets the credit matters; iv) higher levels of spread are found to be positively linked to inequality. With respect to the interactions tested in the model, v) as an economy develops, finance tends to exacerbate the level of inequality; iv) the real structure and the financial structure appear to exert a joint effect on income inequality.

'Competition Law and Income Inequality: A Panel Data Econometric Approach' (co-authored with Amit Zac, Christopher Drecker and Ariel Ezrachi)

It is widely assumed that competition law can affect income inequality. However, scarce empirical evidence exists to support such a presumption. To address this gap, we model changes in multiple competition law indices and different inequality metrics for a large sample of countries over the period 1960–2010. We find evidence of a statistically significant relationship between competition law and income inequality is in some, but not all, specifications. Our results are sensitive to factors such as the country's level of development, the metric used to capture inequality (e.g., income or wages) and whether inequality is measured on a pre- or post-tax basis. Although the results do not establish causality, they are nevertheless suggestive that competition law may impact income inequality and that further analysis using more disaggregated data and testing more precise transmission mechanisms is required.

'Competition Policy and the Decline of the Labour Share' (co-authored with Amit Zac, Christopher Decker, and Ariel Ezrachi).

 We investigate whether there is a link between competition policy and the decline in ‎the labour share observed in many industrialised countries. By using a panel of 22 ‎industries in 12 OECD economies, over the period 1995-2005, we find a positive link ‎between an effective competition policy and the labour share trend. Our findings ‎support the hypothesis that a lax or inactive competition policy has contributed to the ‎decline of the labour share across many developed countries. The main mechanism ‎through which competition policy affects the labour share is through its ability to ‎constrain mark-ups: competition policy is negatively correlated to mark-ups, while ‎mark-ups are negatively correlated to labour share. The results suggest that ‎competition policy could be particularly important in mitigating the decline of the ‎labour share in settings characterised by low levels of labour protection and labour ‎bargaining power. More broadly, by permitting higher mark-ups to be sustained in ‎some industries and jurisdictions, the results suggest that weak competition policy may ‎contribute to higher levels of economic inequality given that labour income is more ‎evenly distributed across households than capital income. 

Home: Pubblicazioni



Ph.D in economics & Doctor europaeus

01/10/2015 – 26/02/2019

University of Cagliari, Ph.D in Economics. Ph.D title: 'Essays in income inequality and finance'. Visiting research period at NHH (Norwegian school of economics) from September 2017 til May 2018 and at  UiB (University of Bergen) from October 2016 til July 2017. 

Msc in  Economics Science

10/2011 – 11/2014

Msc in  Economics Science at University of Cagliari, with honors. Field in 'Financial and monetary markets'. Studying period abroad in accordance to the Erasmus Programme at Otto von Guericke Universitaet Magdeburg (Germany), from September 2012 til February 2013.

BSc in Economics Science

10/2008 – 11/2011

BSc in economics science, with honors. Specialisation in 'Financial and monetary markets'.

Home: Corsi

Work Experience

April 2020 - April/2021

Economic Researcher at University of Oxford

Project funded by the Leverhulme Trust aiming at investigating the link between competition law policy and economic inequality.

January 2019-March 2019

Economic writer for ‘Economind’ website.

Articles focusing mainly on  regional economic policies (public finance, education, welfare, green economy).

February 2016 – July 2016

Teaching assistant in financial economics for graduates at University of Cagliari

Replication of published papers; tutorial in Stata; Lectures on habit formations, equity premium puzzle.

February 2015 – August 2015

Economic research analyst | CIREM- SISTAN (statistics and economics data analysis), Cagliari.

Microeconometric analysis applied to the comprehensive Italian firms dataset (provided by the ISTAT).  Aim of the analysis: to measure the cost of trade among regions in Italy.

February 2015 – July 2015

Academic Tutor in microeconomics for undergraduates| Università degli studi di Cagliari.

Microeconomics foundations.

February 2014 – June 2014

Trainee as Business Assistant at AV Accounts Solutions & Openwork, London

Market research, mortgage process, loan contract; accounting, investment property funds; use of  “Vt transition+”  and “Mortgage brain” softwares, business plan; daily offices duties.

Home: CV

Conferences & Courses

Here you can see the main events I have attended during my Ph.D.

Home: Eventi


26-29th September 2018

Poster session at Humboldt University (Berlin)

Home: Contatti
bottom of page