2026
Geopolitical shocks and household financial distress in Europe: The Russia–Ukraine war
This paper examines how the Russia–Ukraine war affected financial distress among European households.
Research
My research lies at the intersection of household finance, empirical macroeconomics, and labour economics. A more recent strand examines the economics of artificial intelligence, including how AI shocks affect macroeconomic and labour-market outcomes and how R&D investment fosters AI innovation. Across these areas, I combine household and regional data with macroeconomic identification and quasi-experimental methods.
Below you can find selected publications, current research, and research grants.
Selected publications
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2026
Inflation Targeting, Monetary Policy and Income Inequality
This paper tests whether inflation-targeting regimes shape the distributional effects of monetary policy. Expansionary shocks reduce income inequality under inflation targeting—mainly through stronger labour-market gains—but produce a short-lived increase in non-targeting regimes.
2023
Modelling Monetary Policy’s Impact on Labour Markets under COVID-19
Using a Bayesian VAR that treats the pandemic as an extreme event, the paper re-estimates how US monetary policy affects output and labour markets. Expansionary policy has stronger, longer-lasting employment effects and reduces income inequality once pandemic distortions are accounted for.
2022
Do Households with Debt Cut Back Their Consumption More? New Evidence from the UK
Using UK household data from 1993–2017, the paper examines how debt changes consumption responses to income and wealth shocks. Indebted households cut spending much more after income losses than they raise it after gains, a pattern extending beyond the financial crisis.
2021
Are Housing Wealth Effects Asymmetric in Booms and Busts? Evidence from New Zealand
Using New Zealand household data, the paper estimates how housing wealth and leverage affect consumption across boom and bust cycles. Households spend about three cents per dollar of housing wealth on average, with larger responses to declines; leverage amplifies the effect in busts but dampens it in booms.
2021
Unconventional Monetary Policy and Wealth Inequalities in Great Britain
Using British household balance-sheet data, the paper studies how Bank of England unconventional monetary policy affects wealth distribution. Asset purchases raise wealth inequality over time because portfolio-rebalancing and house-price channels outweigh savings-redistribution and inflation effects.
Current research
Revise and resubmit · Journal of Economic Behavior & Organization
Does Public R&D Spending Boost Artificial Intelligence Innovations?
With A. Evgenidis and G. PapapanagiotouUnder review
AI Innovation Shocks and Labor Markets
With A. EvgenidisUnder review
Artificial Intelligence and Employment Growth: Evidence from European Regions
With Anastasios Evgenidis, George Papapanagiotou and Theodoros PanagiotidisUnder review
Mobility Restrictions and Labour Market Outcomes: Evidence from Israeli Permit Policy and the Gaza Blockade
With Asil ShatilaSelected grants
2025
From Funding to Frontier: Public R&D and AI Innovation Across European Regions
European Commission Joint Research Centre2023
AIGR: Artificial Intelligence for Economic Growth
Hellenic Foundation for Research and Innovation2023
The Macroeconomic and Labour Market Effects of Artificial Intelligence Innovations in the UK
British Academy/Leverhulme Small Research Grants Scheme2023–2024