: J O U R N A L  A R T I C L E S


The Productivity Puzzle and Misallocation: an Italian Perspective

Economic Policy, volume 33, issue 96, pp. 635-684, 2018.
With Sara Calligaris, Massimo Del Gatto, Gianmarco Ottaviano, and Fabiano Schivardi.

Featured in CentrePiece Magazine 

Previous Versions: CEP, Discussion Paper 1520; European Commission, Discussion Paper 30 (Title: "Italy's Productivity Conundrum").


The Price of Development: the Penn-Balassa-Samuelson effect revisited 

 Journal of International Economics, volume 102, pp 291-309, 2016.

FEEM Award of the European Economic Association

Featured inThe Economist



: W O R K I N G  P A P E R S


Company profits in Italy

European Commission Discussion Paper 093 (2019).

With Massimo del Gatto, Gianmarco Ottaviano, and Fabiano Schivardi. 
Project financed by the DG ECFIN.

Financial Markets and the Allocation of Capital: The Role of Productivity,

CEP Discussion Paper 1555 (2018). 
With Filippo Di Mauro and Gianmarco Ottaviano.

Project financed by the ECB and the EIB.


Powering Education,

CEP Discussion Paper 1438 (2016).
With Paolo Lucchino.
The project was awarded the Coca-Cola Challenge Prize of the World Economic Forum, featured in the Guardian and the Wall Street Journal.




: W O R K  I N  P R O G R E S S 

Trade Shocks and Capital Reallocation

With Stefano Federico and Veronica Rappoport.


Foreign Capital Flows, Misallocation, and Productivity Growth

With Federico Cingano.

Not in my backyard: the trade effects of neighbour’s civil war - the case of Syria 

With Massimiliano Calì.


Foreign Capital Flows and Income Inequality in Emerging Countries




: B A N K   B R I E F I N G S


Fiscal integration at the time of Brexit: the way forward for the eurozone, UniCredit Economics Special, September 2016.


Business Opportunities in Emerging Markets: which country and industry for exporters, UniCredit Global Themes Series, no. 36, July 2016, with Marco Valli (UniCredit).

Financial Times coverage


Brexit impact on EM currencies, UniCredit FX Perspectives, no. 11, July 2016, with Vasileios Gkionakis (UniCredit), Kathrin Goretzki (UniCredit).


Debt and Growth: from the Great Divergence to Secular Stagnation?, UniCredit Economics Thinking, no. 5, April 2016.


One year of quantitative easing,UniCredit Economics Special, March 2016.

La Repubblica coverage


Demographics and China, UniCredit Economics Special, January 2016.
Financial Times coverage


Global Challenges and Prospects for Emerging Markets: Commodity, China, and Capitals, UniCredit Global Themes Series, no. 30 , January 2016.
La Repubblica coverage

R E S E A R C H

Fadi Hassan

Senior Economist, Bank of Italy

Research Associate, CEP-LSE