Details about Pierpaolo Benigno
Access statistics for papers by Pierpaolo Benigno.
Last updated 2023-10-07. Update your information in the RePEc Author Service.
Short-id: pbe203
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Working Papers
2023
- Gibson's Paradox and the Natural Rate of Interest
CEPR Discussion Papers, C.E.P.R. Discussion Papers 
Also in Diskussionsschriften, Universitaet Bern, Departement Volkswirtschaft (2023)
- It's Baaack: The Surge in Inflation in the 2020s and the Return of the Non-Linear Phillips Curve
CEPR Discussion Papers, C.E.P.R. Discussion Papers 
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2023)
- The ECB’s new inflation target from a short- and long-term perspective
Working Papers, University of Antwerp, Faculty of Business and Economics 
See also Journal Article in Journal of Policy Modeling (2023)
- The spectre of financial dominance in the eurozone
Working Papers, University of Antwerp, Faculty of Business and Economics 
Also in wp.comunite, Department of Communication, University of Teramo (2022)
2022
- Cryptocurrencies, Currency Competition, and The Impossible Trinity
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (23)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (24)
See also Journal Article in Journal of International Economics (2022) Chapter (2021)
- Managing Monetary Policy Normalization
Staff Reports, Federal Reserve Bank of New York 
Also in Staff Reports, Federal Reserve Bank of New York (2022)  CEPR Discussion Papers, C.E.P.R. Discussion Papers (2022)
- Monetary Policy in a World of Cryptocurrencies
Diskussionsschriften, Universitaet Bern, Departement Volkswirtschaft 
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2022) View citations (16) EIEF Working Papers Series, Einaudi Institute for Economics and Finance (EIEF) (2019) View citations (16)
See also Journal Article in Journal of the European Economic Association (2023)
- Stagflation and fragmentation: The euro area at the crossroad
wp.comunite, Department of Communication, University of Teramo
- The Economics of Helicopter Money
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
Also in Working Papers, Sapienza University of Rome, DISS (2020) View citations (2) Working Papers CASMEF, Dipartimento di Economia e Finanza, LUISS Guido Carli (2020)
- The European monetary policy responses during the pandemic crisis
wp.comunite, Department of Communication, University of Teramo 
See also Journal Article in Open Economies Review (2022)
2021
- Asymmetries in Monetary Policy
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
See also Journal Article in European Economic Review (2021)
- Financial Dominance in the Pandemic and Post-Pandemic European Economy
Working Papers in Public Economics, University of Rome La Sapienza, Department of Economics and Law View citations (2)
- Interest, Reserves and Prices
CEPR Discussion Papers, C.E.P.R. Discussion Papers 
Also in Staff Reports, Federal Reserve Bank of New York (2021)
- The ECB's Asset Purchase Programme: Theory, effects, and risks
Working Papers in Public Economics, University of Rome La Sapienza, Department of Economics and Law 
Also in wp.comunite, Department of Communication, University of Teramo (2020)
- The ECB's policy measures during the COVID-19 crisis
Working Papers in Public Economics, University of Rome La Sapienza, Department of Economics and Law View citations (2)
- The implementation and the rationale of the new inflation target of the ECB
Working Papers in Public Economics, University of Rome La Sapienza, Department of Economics and Law
- Uncertainty and the Pandemic Shocks
Working Papers in Public Economics, University of Rome La Sapienza, Department of Economics and Law View citations (3)
Also in wp.comunite, Department of Communication, University of Teramo (2020) View citations (6)
2019
- Inefficiency and Regulation of Private Liquidity
CEPR Discussion Papers, C.E.P.R. Discussion Papers
2018
- Private Money Creation, Liquidity Crises, and Government Intervention
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
See also Journal Article in Journal of Monetary Economics (2019)
2017
- A Central Bank Theory of Price Level Determination
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
See also Journal Article in American Economic Journal: Macroeconomics (2020)
- Non-Neutrality of Open Market Operations
2017 Meeting Papers, Society for Economic Dynamics View citations (1)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (24)
See also Journal Article in American Economic Journal: Macroeconomics (2020)
- Overconfidence, Subjective Perception, and Pricing Behavior
FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (1)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) 
See also Journal Article in Journal of Economic Behavior & Organization (2019)
2016
- Designing Central Banks for Inflation Stability
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
- Dynamic Debt Deleveraging and Optimal Monetary Policy
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
Also in 2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (2) NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (44)
See also Journal Article in American Economic Journal: Macroeconomics (2020)
- Private Money Creation and Equilibrium Liquidity
CEPR Discussion Papers, C.E.P.R. Discussion Papers
- Private Money and Equilibrium Liquidity
2016 Meeting Papers, Society for Economic Dynamics
2013
- Safe Assets, Liquidity and Monetary Policy
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
See also Journal Article in American Economic Journal: Macroeconomics (2017)
2012
- Debt Deleveraging and The Exchange Rate
NBER Working Papers, National Bureau of Economic Research, Inc View citations (25)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) View citations (6)
See also Journal Article in Journal of International Economics (2014)
2011
- Monetary Policy, Doubts and Asset Prices
2011 Meeting Papers, Society for Economic Dynamics 
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (6) EIEF Working Papers Series, Einaudi Institute for Economics and Finance (EIEF) (2010) View citations (7)
See also Journal Article in Journal of Monetary Economics (2014)
- Risk, Monetary Policy and the Exchange Rate
NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
See also Journal Article in NBER Macroeconomics Annual (2012) Chapter (2011)
- Second Order Approximation of Dynamic Models with Time-Varying Risk
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
Also in FMG Discussion Papers, Financial Markets Group (2011)  CEP Discussion Papers, Centre for Economic Performance, LSE (2010) View citations (11) NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (14) EIEF Working Papers Series, Einaudi Institute for Economics and Finance (EIEF) (2010) View citations (15) LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2011) 
See also Journal Article in Journal of Economic Dynamics and Control (2013)
- Unemployment and productivity in the long run: The role of macroeconomic volatility
wp.comunite, Department of Communication, University of Teramo View citations (4)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (9) NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (10) Working Papers, Department of the Treasury, Ministry of the Economy and of Finance View citations (4) IMF Working Papers, International Monetary Fund (2010) View citations (9)
See also Journal Article in The Review of Economics and Statistics (2015)
2010
- Globalization, Pass-Through and Inflation Dynamic
NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2010) View citations (12) Kiel Working Papers, Kiel Institute for the World Economy (IfW Kiel) (2010) View citations (13)
See also Journal Article in International Journal of Central Banking (2016)
- The Inflation-Output Trade-off with Downward Wage Rigidities
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
Also in EIEF Working Papers Series, Einaudi Institute for Economics and Finance (EIEF) (2010) View citations (4)
See also Journal Article in American Economic Review (2011)
2009
- International Portfolio Allocation under Model Uncertainty
NBER Working Papers, National Bureau of Economic Research, Inc View citations (30)
See also Journal Article in American Economic Journal: Macroeconomics (2012)
- New-Keynesian Economics: An AS-AD View
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
See also Journal Article in Research in Economics (2015)
- The Inflation-Unemployment Trade-off at Low Inflation
IMF Working Papers, International Monetary Fund View citations (7)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (6)
2008
- Implementing international monetary cooperation through inflation targeting
LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (11)
See also Journal Article in Macroeconomic Dynamics (2008)
2007
- Portfolio Choices with Near Rational Agents: A Solution of Some International-Finance Puzzles
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
2006
- Are Valuation Effects Desirable from a Global Perspective?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
See also Journal Article in Journal of Development Economics (2009)
- Linear-Quadratic Approximation of Optimal Policy Problems
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (84)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (55)
See also Journal Article in Journal of Economic Theory (2012)
- Optimal Inflation Targeting Under Alternative Fiscal Regimes
Working Papers Central Bank of Chile, Central Bank of Chile View citations (18)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (25)
See also Chapter (2007)
2005
- Long-Run Determinants of Inflation Differentials in a Monetary Union
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (42)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (42)
- Optimal Taxation in an RBC Model: A Linear-Quadratic Approach
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (6)
See also Journal Article in Journal of Economic Dynamics and Control (2006)
2004
- Designing Target Rules for International Monetary Policy Cooperation
CEP Discussion Papers, Centre for Economic Performance, LSE View citations (14)
Also in LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2004) View citations (4)
- Inflation Stabilization and Welfare: The Case of a Distorted Steady State
NBER Working Papers, National Bureau of Economic Research, Inc View citations (44)
Also in 2004 Meeting Papers, Society for Economic Dynamics (2004) View citations (50)
See also Journal Article in Journal of the European Economic Association (2005)
- Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (25)
See also Journal Article in Proceedings (2005)
- Optimal monetary and fiscal policy: a linear-quadratic approach
Working Paper Series, European Central Bank View citations (120)
Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) View citations (67) NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (235)
See also Journal Article in Proceedings (2003) Chapter (2004)
2003
- Designing targeting rules for international monetary policy cooperation
Working Paper Series, European Central Bank View citations (55)
See also Journal Article in Journal of Monetary Economics (2006)
- Interest Rate Rules for Fixed Exchange Rate Regimes
Boston College Working Papers in Economics, Boston College Department of Economics View citations (26)
See also Journal Article in Journal of Economic Dynamics and Control (2007)
2002
- Implementing Monetary Cooperation Through Inflation Targeting
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (40)
- Inflation persistence and optimal monetary policy in the Euro Area
Working Papers, Banco de España View citations (54)
Also in Working Paper Series, European Central Bank (2002) View citations (60) International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2002) View citations (43)
See also Journal Article in Journal of Money, Credit and Banking (2006)
2001
- High Public Debt in Currency Crises: Fundamentals versus Signalling Effects
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
See also Journal Article in Journal of International Money and Finance (2004)
- How is the Debt Managed? Learning from Fiscal Stabilizations
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
Also in Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University View citations (25)
See also Journal Article in Scandinavian Journal of Economics (2002)
- Monetary Policy Rules and the Exchange Rate
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (89)
- Optimal Monetary Policy in a Currency Area
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (112)
See also Journal Article in Journal of International Economics (2004)
- Price Stability as a Nash Equilibrium in Monetary Open-Economy Models
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (35)
- Price Stability with Imperfect Financial Integration
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (217)
See also Journal Article in Journal of Money, Credit and Banking (2009)
1997
- Managing the Public Debt in Fiscal Stabilizations: The Evidence
NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
Also in Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University View citations (11)
Journal Articles
2023
- Monetary Policy in a World of Cryptocurrencies
Journal of the European Economic Association, 2023, 21, (4), 1363-1396 View citations (1)
See also Working Paper (2022)
- The ECB’s new inflation target from a short- and long-term perspective
Journal of Policy Modeling, 2023, 45, (2), 286-304 
See also Working Paper (2023)
2022
- Cryptocurrencies, currency competition, and the impossible trinity
Journal of International Economics, 2022, 136, (C) View citations (12)
See also Working Paper (2022) Chapter (2021)
- The European Monetary Policy Responses During the Pandemic Crisis
Open Economies Review, 2022, 33, (4), 657-675 
See also Working Paper (2022)
2021
- Asymmetries in monetary policy
European Economic Review, 2021, 140, (C) View citations (4)
See also Working Paper (2021)
- Shocks in Europe, changes in uncertainty, and policies
Politica economica, 2021, (3), 339-356
2020
- A Central Bank Theory of Price Level Determination
American Economic Journal: Macroeconomics, 2020, 12, (3), 258-83 View citations (12)
See also Working Paper (2017)
- Dynamic Debt Deleveraging and Optimal Monetary Policy
American Economic Journal: Macroeconomics, 2020, 12, (2), 310-50 View citations (12)
See also Working Paper (2016)
- Non-neutrality of Open-Market Operations
American Economic Journal: Macroeconomics, 2020, 12, (3), 175-226 View citations (10)
See also Working Paper (2017)
2019
- Overconfidence, subjective perception and pricing behavior
Journal of Economic Behavior & Organization, 2019, 164, (C), 107-132 View citations (6)
See also Working Paper (2017)
- Private money creation, liquidity crises, and government interventions
Journal of Monetary Economics, 2019, 106, (C), 42-58 View citations (9)
See also Working Paper (2018)
2017
- Safe Assets, Liquidity, and Monetary Policy
American Economic Journal: Macroeconomics, 2017, 9, (2), 182-227 View citations (16)
See also Working Paper (2013)
2016
- Globalization, Pass-Through, and Inflation Dynamics
International Journal of Central Banking, 2016, 12, (4), 263-306 View citations (21)
See also Working Paper (2010)
2015
- New-Keynesian economics: An AS–AD view
Research in Economics, 2015, 69, (4), 503-524 View citations (7)
See also Working Paper (2009)
- Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility
The Review of Economics and Statistics, 2015, 97, (3), 698-709 View citations (39)
See also Working Paper (2011)
2014
- Debt deleveraging and the exchange rate
Journal of International Economics, 2014, 93, (1), 1-16 View citations (45)
See also Working Paper (2012)
- Monetary policy, doubts and asset prices
Journal of Monetary Economics, 2014, 64, (C), 85-98 View citations (41)
See also Working Paper (2011)
2013
- Second-order approximation of dynamic models with time-varying risk
Journal of Economic Dynamics and Control, 2013, 37, (7), 1231-1247 View citations (18)
See also Working Paper (2011)
2012
- International Portfolio Allocation under Model Uncertainty
American Economic Journal: Macroeconomics, 2012, 4, (1), 144-89 View citations (34)
See also Working Paper (2009)
- Linear-quadratic approximation of optimal policy problems
Journal of Economic Theory, 2012, 147, (1), 1-42 View citations (116)
See also Working Paper (2006)
- Risk, Monetary Policy, and the Exchange Rate
NBER Macroeconomics Annual, 2012, 26, (1), 247 - 309 View citations (55)
See also Working Paper (2011) Chapter (2011)
2011
- Inflation Differentials in a Currency Area: Facts, Explanations and Policy
Open Economies Review, 2011, 22, (2), 189-233 View citations (31)
- The Inflation-Output Trade-Off with Downward Wage Rigidities
American Economic Review, 2011, 101, (4), 1436-66 View citations (80)
See also Working Paper (2010)
2009
- Are valuation effects desirable from a global perspective?
Journal of Development Economics, 2009, 89, (2), 170-180 View citations (9)
See also Working Paper (2006)
- Price Stability with Imperfect Financial Integration
Journal of Money, Credit and Banking, 2009, 41, (s1), 121-149 View citations (222)
Also in Journal of Money, Credit and Banking, 2009, 41, (s1), 121-149 (2009) View citations (67) Proceedings, 2008 (2008) View citations (7)
See also Working Paper (2001)
2008
- Exchange rate determination under interest rate rules
Journal of International Money and Finance, 2008, 27, (6), 971-993 View citations (65)
- IMPLEMENTING INTERNATIONAL MONETARY COOPERATION THROUGH INFLATION TARGETING
Macroeconomic Dynamics, 2008, 12, (S1), 45-59 View citations (18)
See also Working Paper (2008)
2007
- Interest rate rules for fixed exchange rate regimes
Journal of Economic Dynamics and Control, 2007, 31, (7), 2196-2211 View citations (65)
See also Working Paper (2003)
2006
- Comment on "How important are nontradable goods prices as sources of cyclical fluctuations in real exchange rates?" by Ariel Burstein, Martin Eichenbaum and Sergio Rebelo
Japan and the World Economy, 2006, 18, (3), 254-260
- Designing targeting rules for international monetary policy cooperation
Journal of Monetary Economics, 2006, 53, (3), 473-506 View citations (216)
See also Working Paper (2003)
- Inflation Persistence and Optimal Monetary Policy in the Euro Area
Journal of Money, Credit and Banking, 2006, 38, (3), 587-614 View citations (100)
See also Working Paper (2002)
- Optimal taxation in an RBC model: A linear-quadratic approach
Journal of Economic Dynamics and Control, 2006, 30, (9-10), 1445-1489 View citations (56)
See also Working Paper (2005)
2005
- Fiscal Externalities and Optimal Taxation in an Economic Community [with Comments]
NBER International Seminar on Macroeconomics, 2005, 2005, (1), 207 - 259
- Inflation Stabilization And Welfare: The Case Of A Distorted Steady State
Journal of the European Economic Association, 2005, 3, (6), 1185-1236 View citations (317)
See also Working Paper (2004)
- Optimal stabilization policy when wages and prices are sticky: the case of a distorted steady state
Proceedings, 2005, 127-180 View citations (13)
See also Working Paper (2004)
2004
- High public debt in currency crises: fundamentals versus signaling effects
Journal of International Money and Finance, 2004, 23, (2), 165-188 View citations (17)
See also Working Paper (2001)
- Optimal monetary policy in a currency area
Journal of International Economics, 2004, 63, (2), 293-320 View citations (445)
See also Working Paper (2001)
2003
- Optimal monetary and fiscal policy: a linear-quadratic approach
Proceedings, 2003 View citations (81)
See also Chapter (2004) Working Paper (2004)
- Price Stability in Open Economies
Review of Economic Studies, 2003, 70, (4), 743-764 View citations (354)
2002
- A simple approach to international monetary policy coordination
Journal of International Economics, 2002, 57, (1), 177-196 View citations (54)
- How is the Debt Managed? Learning from Fiscal Stabilizations
Scandinavian Journal of Economics, 2002, 104, (3), 443-469 View citations (14)
See also Working Paper (2001)
Chapters
2021
- Cryptocurrencies, Currency Competition, and the Impossible Trinity
A chapter in NBER International Seminar on Macroeconomics 2021, 2021
See also Working Paper (2022) Journal Article in Journal of International Economics (2022)
2011
- Risk, Monetary Policy and the Exchange Rate
A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 247-309 View citations (22)
See also Working Paper (2011) Journal Article in NBER Macroeconomics Annual (2012)
2007
- Optimal Inflation Targeting under Alternative Fiscal Regimes
Chapter 3 in Monetary Policy under Inflation Targeting, 2007, vol. 11, pp 037-075 View citations (10)
See also Working Paper (2006)
2005
- Comment on "Fiscal Externalities and Optimal Taxation in an Economic Community"
A chapter in NBER International Seminar on Macroeconomics 2005, 2005, pp 251-257 View citations (1)
2004
- Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach
A chapter in NBER Macroeconomics Annual 2003, Volume 18, 2004, pp 271-364 View citations (76)
See also Journal Article in Proceedings (2003) Working Paper (2004)
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