I work on the determinants of financial markets liquidity and volatility, the industrial organization of these markets, and their effect on the real economy. My most recent papers are on OTC markets, the implications of new ways to produce and share financial information, and the determinants of stock price informativeness and its effect on firms’ decisions (investment, product choices etc.).
Discussion paper
DP16019 Equilibrium Data Mining
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- Alternative data 
- Data abundance 
- Data mining 
- Price informativeness 
- Search for information
Discussion paper
DP15786 Does Alternative Data Improve Financial Forecasting? The Horizon Effect
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- Alternative data 
- Security analysts 
- Forecasting horizon 
- Forecasts' informativeness 
- Social media
Discussion paper
DP13093 Inventory Management, Dealers' Connections, and Prices in OTC Markets
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- Otc markets 
- Interdealer trading 
- Inventory management
Discussion paper
DP11190 Data Abundance and Asset Price Informativeness
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- Price informativeness 
- Information processing 
- Markets for information 
- Contrarian and momentum trading
VoxEU Column
The impact of technology on finance: A new eBook
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- Financial Markets 
- Financial Regulation and Banking 
- Fintech 
- BigTech 
- Cbdc 
- Digital currencies 
- Future of Banking series
VoxEU Column
The noise in stock prices matters for the real economy
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- Financial Markets 
- International Finance 
- Asset prices 
- Corporate investment 
- Noise 
- Us 
- real economy
VoxEU Column
Stock markets, wisdom of crowds, and corporate strategy
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- International Finance 
- Ipo 
- Initial public offering 
- Stock markets 
- real economy