I am very excited to share my new working paper titled “#Crypto Risk Premia” (with Daniele Massacci, @RubinMirco and Dario Ruzzi). A short 🧵 follows. Please, share it if you like it. Comments are very welcome [1/n]

Link: tinyurl.com/yc7hbeeu

#EconTwitter Before “crypto winter” hit markets at the beginning of 2022, cryptocurrency was getting “boring” as some of the craziness of the earlier times was fading out and institutional investors had started to pour in, allocating a part of their large portfolios to crypto. [2/n]

I have a new working paper out on “#Crypto Premium and Jump Risk” with Paolo Santucci de Magistris #EconTwitter Link: ssrn.com/abstract=38891… [1/n] The paper shows that sudden and large price moves in bitcoin prices (jumps) explain a large portion in the variation in bitcoin returns [2/n]

The narrative of the rollercoaster day for cryptocurrency markets centers around the fears of stricter regulation in China (which might want to push its future CBDC). I shamlessy take the opportunity to advertise some of my prior work [1/n] #EconTwitter
ft.com/content/c4c29b… In Borri and Shakhnov (FRL 2019) we look at a similar big shock when China de facto ordered the closing of cryptocurrency exchanges. [2/n]

Link to paper: sciencedirect.com/science/articl…

I am very happy that my paper with @KShakhnov “Global Risk in Long-Term Sovereign Debt” has been accepted in @RevOfAssetPric #EconTwitter

Thread 1/n Our paper is motivated by recent work by @HannoLustig et al. (AER 2019) who found that currency carry trade strategies with T-bonds are different from those with T-bills because local currency term premia offset currency premia 2/n

New wp with @FSobbrio @francedrago @ChSantantonio #EconTwitter
Many countries used lockdowns to control the pandemics. We provide quantitative estimates of benefits in terms of reduction of mortality by #COVID19👇
tinyurl.com/y5u6elxs
(also @cepr_org DP15317) 1/n We focus on Italy -- one of the first country struck by #COVIDー19 -- where the lockdown design offers a source of exogenous variation in the intensity of the lockdown at a granular level 2/n

I am very happy to share that my paper "Optimal Taxation with Home Ownership and Wealth Inequality" with Pietro Reichlin has been now accepted for publication at the @RevEconDyn [1/n] #EconTwitter In the paper we consider optimal taxation in a model with wealth-poor and wealth-rich households, where wealth derives from business capital and home ownership, and investigate the consequences of a rising wealth inequality at steady state on these tax rates [2/n]

My paper with K. Shakhnov on Regulation spillovers across cryptocurrency markets is now available on FRL at this link authors.elsevier.com/c/1bjLs5VD4Kcw… (with 50 days free access) #EconTwitter [thread 1/n] In this paper we look at the unprecedented drop in trading volume on the Chinese cryprocurrency market after a significant regulatory change that de facto banned bitcoin in early 2017 in China [thread 2/n]

1/n A new version of my paper with Kirill Shakhnov on "Cryptomarket Discounts" is now available at: ssrn.com/abstract=31243… #EconTwitter [short thread] 2/n Investors buy #bitcoin on a multitude of exchanges, located in different countries, and against different fiat and cryptocurrencies.

My #COVIDー19 update for #Italy two weeks after relaxation #lockdown [thread] 1/ Deaths: 119 deaths today, more than 32K since the beginning of the pandemic according to official estimates. But rate is slowly but constantly approaching zero.

1/n Happy to share a new working paper (w/A. Consiglio and G. Bonaccolto) on "Breakup and Defaul Risks in the Great Lockdown" papers.ssrn.com/sol3/papers.cf… #EconTwitter [thread] 2/n Since the #Covid19 shock, fears of a Eurozone breakup have once again invaded the nightmares of many investors. We exploit a contractual difference between CR and CR14 sovereign CDS contracts to identify redenomination risk for France, Italy and Germany.

1/ It is a few day I am not doing my daily #covid19 update for #Italy. Reason is that situation is stabilized, hopefully for good. I will do from now one my update once a week, on Sunday. Here's the one for today. [thread] 2/ Today total cases dropped by 525 units (total active cases 100K). New cases today 1389: lowest number in many days.

My #Covid19 update #Italy April 27 [short thread]

1/ Today only 1739 new cases, although large fall in number of tests (also yesterday). Current case continue to drop (-290). 2/ Also growth in number of daily deaths continue to drop: today 333 new deaths.

My #Covid19 update #Italy April 26 [thread]
1/ Very good numbers today: let's start with the daily deaths: 260, about half the number from yesterday. 2/ Also number new cases is low: 2325. Current cases went up by 256 units, but this also result of the sharp drop in deaths.

My #Covid19 update #italy April 25 [thread]
1/ One more day of very encouraging numbers: only 2357 new cases, current cases drop by 680 units, daily deaths 415. All numbers are going in the right direction (of course, we would like to see less deaths) 2/ Numbers particularly good as they come after four days with a lot of tests. Today 65K, with a very low positive-to-test of 3.6%.

My late #Covid19 update #Italy Aprl24 [thread]
Sorry for the late update: today's numbers very similar to those of last few days: current cases down 321 units; new cases 3021 (a bit up, but last few days lots of testing); daily deaths 420 (a bit less, still high). 1/ another day of high test numbers (62K) and low positive-to-test ratio.

My #Covid19 update #Italy April 23 [thread]

1/ One more day of very encouraging numbers: total new cases 2646, current cases down by 851 units, and daily deaths 464. 2/ All indicators are going in same and positive direction. Today, also high number of tests and low positive-to-test ratio (4%).

My #Covid19 update #Italy April 22 [thread]
1/ One more day of encouraging numbers. Altough new cases increases with respect to yesterday (3370), testing went up substantially (61K). 2/ Current cases continue to drop (-10), and daily deaths also lower than last few days (437).

My #Covid19 update #Italy April 21 [thread]
1/ One more day of consistent data, which confirms what said yesterday. Current cases down by 528 units (good!), total new infected 2729 (a bit up from yesterday), and daily deaths 534. 2/ Good news is that number of tests today are back up (52K). Positive-to-test ratio is 5.2% (flat).

My #Covid19 update for #Italy April 20 [thread]
Important symbolic date today: number of current cases drops by 20 units. Also new tested positive drops to 2256. Daily deaths roughly flat at 454. 1/ All measures point to downward trend at national level. Unfortunately, daily death growth rate roughly flat around 2%.

My #Covid19 update #Italy April 19 [thread]
Normalization in Italy is consolidating: change in current cases only 486 (+0.5%), and new tested positive 3047 (500 less than yesterday). 1/ These numbers are good and come after 3 days of high number of tests (which produce results not necessarily in same day). However, today tests dropped to 50K vs 61K yesterday. Variability is a bit concerning. Positive-to-test was 6%.

My #Covid19 update for #Italy [thread]
Numbers out today are mostly in line with those of last few days and raise the question: what should we do next? 1/ Start with the numbers: current cases increase by a modes 809 (+0.8%) and new infected 3491 confirming the (slowly) downward trend.