Details about Leonardo Melosi

Access statistics for papers by Leonardo Melosi.

Last updated 2025-01-06. Update your information in the RePEc Author Service.

Short-id: pme283

Working Papers

2025

1. Long-Run Inflation Expectations
   Working Paper Series, Federal Reserve Bank of Chicago

2024

2. Estimating Nonlinear Heterogeneous Agent Models with Neural Networks
   The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics View citations (1)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2022)
3. On-the-Job Search and Inflation under the Microscope
   The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics
4. The Signaling Effects of Fiscal Announcements
   Economics Series Working Papers, University of Oxford, Department of Economics
   Also in Working Paper Series, Federal Reserve Bank of Chicago (2022) View citations (1)
   Discussion Papers, Centre for Macroeconomics (CFM) (2024)
   CIGS Working Paper Series, The Canon Institute for Global Studies (2024)
   CESifo Working Paper Series, CESifo (2024)
   CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2024)
   The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics (2024)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2024)
5. The Taming of the Skew: Asymmetric Inflation Risk and Monetary Policy
   The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics

2023

6. Identification Using Higher-Order Moments Restrictions
   Working Paper Series, Federal Reserve Bank of Chicago View citations (1)
7. Job-to-Job Mobility and Inflation
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in Working Paper Series, Federal Reserve Bank of Chicago (2023) View citations (2)
8. Learning Monetary Policy Strategies at the Effective Lower Bound with Sudden Stops
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
9. Learning Monetary Policy Strategies at the Effective Lower Bound with Sudden Surprises
   Working Paper Series, Federal Reserve Bank of Chicago
   Also in Discussion Papers, Deutsche Bundesbank (2023)
10. The Chicago Fed DSGE Model: Version 2
    Working Paper Series, Federal Reserve Bank of Chicago
11. Unusual Shocks in our Usual Models
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2022) View citations (1)
    See also Journal Article Unusual shocks in our usual models, Journal of Monetary Economics, Elsevier (2024) View citations (2) (2024)
12. Who is Afraid of Eurobonds?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2022) View citations (2)

2022

13. A Fiscal Theory of Persistent Inflation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article A Fiscal Theory of Persistent Inflation*, The Quarterly Journal of Economics, President and Fellows of Harvard College (2023) View citations (15) (2023)
14. A Fiscal Theory of Trend Inflation
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
15. Inflation as a Fiscal Limit
    Working Paper Series, Federal Reserve Bank of Chicago View citations (8)

2021

16. Bad Jobs and Low Inflation
    Working Paper Series, Federal Reserve Bank of Chicago View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (3)
    2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (3)
    Working Paper Series, Federal Reserve Bank of Chicago (2020) View citations (8)
17. Hitting the elusive inflation target
    Discussion Papers, Deutsche Bundesbank View citations (35)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2019) View citations (14)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (17)
    NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (19)
    See also Journal Article Hitting the elusive inflation target, Journal of Monetary Economics, Elsevier (2021) View citations (17) (2021)
18. Pandemic recessions and contact tracing
    Discussion Papers, Deutsche Bundesbank
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2020) View citations (1)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (1)
    See also Journal Article Pandemic Recessions and Contact Tracing, Journal of the European Economic Association, European Economic Association (2023) View citations (2) (2023)

2020

19. Monetary and Fiscal Policies in Times of Large Debt: Unity is Strength
    Working Paper Series, Federal Reserve Bank of Chicago View citations (23)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (40)
    Working Paper Series, Federal Reserve Bank of Chicago (2020) View citations (39)
    NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (42)
20. Strengthening the FOMC’s Framework in View of the Effective Lower Bound and Some Considerations Related to Time-Inconsistent Strategies
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.)

2019

21. Pigouvian Cycles
    2019 Meeting Papers, Society for Economic Dynamics
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (1)
    See also Journal Article Pigouvian Cycles, American Economic Journal: Macroeconomics, American Economic Association (2022) (2022)
22. The Limits of Forward Guidance
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (39)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2019) View citations (30)
    2019 Meeting Papers, Society for Economic Dynamics (2019) View citations (39)
    See also Journal Article The limits of forward guidance, Journal of Monetary Economics, Elsevier (2019) View citations (29) (2019)

2018

23. Fiscal Stimulus with Learning-By-Doing
    Working Paper Series, Federal Reserve Bank of Chicago View citations (1)
    Also in Discussion Papers, Centre for Macroeconomics (CFM) (2018) View citations (1)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2018) View citations (1)
    See also Journal Article FISCAL STIMULUS WITH LEARNING‐BY‐DOING, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2019) View citations (25) (2019)
24. The Role of News about TFP in U.S. Recessions and Booms
    Working Paper Series, Federal Reserve Bank of Chicago

2017

25. The Dire Effects of the Lack of Monetary and Fiscal Coordination
    2017 Meeting Papers, Society for Economic Dynamics View citations (7)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2017) View citations (7)
    NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (7)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (7)
    See also Journal Article The dire effects of the lack of monetary and fiscal coordination, Journal of Monetary Economics, Elsevier (2019) View citations (40) (2019)

2016

26. Constrained Discretion and Central Bank Transparency
    Working Paper Series, Federal Reserve Bank of Chicago View citations (6)
    Also in PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2012) View citations (11)
    PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2012) View citations (7)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (3)
    Working Papers, Duke University, Department of Economics (2013) View citations (5)
    Working Paper Series, Federal Reserve Bank of Chicago (2014) View citations (3)
    NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (3)
    See also Journal Article Constrained Discretion and Central Bank Transparency, The Review of Economics and Statistics, MIT Press (2018) View citations (16) (2018)
27. Escaping the Great Recession
    Working Paper Series, Federal Reserve Bank of Chicago View citations (6)
    Also in 2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (4)
    2015 Meeting Papers, Society for Economic Dynamics (2015) View citations (7)
    Working Papers, Duke University, Department of Economics (2013) View citations (5)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (13)
    Working Paper Series, Federal Reserve Bank of Chicago (2014) View citations (11)
    See also Journal Article Escaping the Great Recession, American Economic Review, American Economic Association (2017) View citations (139) (2017)
28. Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis
    Working Paper Series, Federal Reserve Bank of Chicago View citations (26)
    See also Chapter Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis, NBER Chapters, National Bureau of Economic Research, Inc (2016) View citations (94) (2016)
    Journal Article Forward Guidance and Macroeconomic Outcomes since the Financial Crisis, NBER Macroeconomics Annual, University of Chicago Press (2017) View citations (95) (2017)
29. Hiring and Investment Frictions as Inflation Determinants
    2016 Meeting Papers, Society for Economic Dynamics
30. Signaling Effects of Monetary Policy
    Working Paper Series, Federal Reserve Bank of Chicago View citations (67)
    Also in PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2013) View citations (7)
    Working Paper Series, Federal Reserve Bank of Chicago (2012) View citations (13)
    See also Journal Article Signalling Effects of Monetary Policy, The Review of Economic Studies, Review of Economic Studies Ltd (2017) View citations (131) (2017)

2014

31. Signaling Effects of Monteray Policy
    2014 Meeting Papers, Society for Economic Dynamics View citations (3)

2013

32. Dormant Shocks and Fiscal Virtue
    Working Papers, Duke University, Department of Economics View citations (48)
    Also in PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2013) View citations (56)
    2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (3)
    See also Chapter Dormant Shocks and Fiscal Virtue, NBER Chapters, National Bureau of Economic Research, Inc (2013) View citations (46) (2013)
    Journal Article Dormant Shocks and Fiscal Virtue, NBER Macroeconomics Annual, University of Chicago Press (2014) View citations (16) (2014)
33. Modeling the Evolution of Expectations and Uncertainty in General Equilibrium
    2013 Meeting Papers, Society for Economic Dynamics View citations (4)
    Also in Working Papers, Duke University, Department of Economics (2013) View citations (6)
    PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2012) View citations (2)
    Working Paper Series, Federal Reserve Bank of Chicago (2013) View citations (4)
    PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2012) View citations (3)
    See also Journal Article MODELING THE EVOLUTION OF EXPECTATIONS AND UNCERTAINTY IN GENERAL EQUILIBRIUM, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2016) View citations (11) (2016)

2012

34. Inflationary Sentiments and Monetary Policy Communcation
    2012 Meeting Papers, Society for Economic Dynamics View citations (3)

2011

35. Methods for Computing Marginal Data Densities from the Gibbs Output
    Departmental Working Papers, Rutgers University, Department of Economics
    See also Journal Article Methods for computing marginal data densities from the Gibbs output, Journal of Econometrics, Elsevier (2013) View citations (12) (2013)
36. Public's Inflation Expectations and Monetary Policy
    2011 Meeting Papers, Society for Economic Dynamics View citations (5)

2009

37. A Likelihood Analysis of Models with Information Frictions
    2009 Meeting Papers, Society for Economic Dynamics View citations (2)
    Also in PIER Working Paper Archive, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania (2009) View citations (3)

Journal Articles

2024

1. Unusual shocks in our usual models
   Journal of Monetary Economics, 2024, 147, (C) View citations (2)
   See also Working Paper Unusual Shocks in our Usual Models, CEPR Discussion Papers (2023) (2023)

2023

2. A Fiscal Theory of Persistent Inflation*
   The Quarterly Journal of Economics, 2023, 138, (4), 2127-2179 View citations (15)
   See also Working Paper A Fiscal Theory of Persistent Inflation, NBER Working Papers (2022) View citations (4) (2022)
3. How Tight is U.S. Monetary Policy
   Chicago Fed Letter, 2023, No 476 View citations (1)
4. Pandemic Recessions and Contact Tracing
   Journal of the European Economic Association, 2023, 21, (6), 2485-2517 View citations (2)
   See also Working Paper Pandemic recessions and contact tracing, Discussion Papers (2021) (2021)

2022

5. Comments on Epidemics in the New Keynesian model by Eichenbaum, Rebelo, and Trabandt”
   Journal of Economic Dynamics and Control, 2022, 140, (C)
6. Pigouvian Cycles
   American Economic Journal: Macroeconomics, 2022, 14, (2), 281-318
   See also Working Paper Pigouvian Cycles, 2019 Meeting Papers (2019) (2019)
7. The Effects of the “Great Resignation” on Labor Market Slack and Inflation
   Chicago Fed Letter, 2022, (465), 7

2021

8. Hitting the elusive inflation target
   Journal of Monetary Economics, 2021, 124, (C), 107-122 View citations (17)
   See also Working Paper Hitting the elusive inflation target, Discussion Papers (2021) View citations (35) (2021)
9. Introduction to the Special Issue in Memory of Alejandro Justiniano
   Review of Economic Dynamics, 2021, 41, 1-3
10. Some inflation scenarios for the American Rescue Plan Act of 2021
    Chicago Fed Letter, 2021, (453), 8 View citations (1)

2019

11. FISCAL STIMULUS WITH LEARNING‐BY‐DOING
    International Economic Review, 2019, 60, (3), 1413-1432 View citations (25)
    See also Working Paper Fiscal Stimulus with Learning-By-Doing, Working Paper Series (2018) View citations (1) (2018)
12. The Macroeconomic Effects of the 2018 Bipartisan Budget Act
    Economic Perspectives, 2019, (2), 2-12
13. The dire effects of the lack of monetary and fiscal coordination
    Journal of Monetary Economics, 2019, 104, (C), 1-22 View citations (40)
    See also Working Paper The Dire Effects of the Lack of Monetary and Fiscal Coordination, 2017 Meeting Papers (2017) View citations (7) (2017)
14. The limits of forward guidance
    Journal of Monetary Economics, 2019, 108, (C), 118-134 View citations (29)
    See also Working Paper The Limits of Forward Guidance, CEPR Discussion Papers (2019) View citations (39) (2019)

2018

15. Constrained Discretion and Central Bank Transparency
    The Review of Economics and Statistics, 2018, 100, (1), 187-202 View citations (16)
    See also Working Paper Constrained Discretion and Central Bank Transparency, Working Paper Series (2016) View citations (6) (2016)

2017

16. Escaping the Great Recession
    American Economic Review, 2017, 107, (4), 1030-58 View citations (139)
    See also Working Paper Escaping the Great Recession, Working Paper Series (2016) View citations (6) (2016)
17. Forward Guidance and Macroeconomic Outcomes since the Financial Crisis
    NBER Macroeconomics Annual, 2017, 31, (1), 283 - 357 View citations (95)
    See also Chapter Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis, NBER Chapters, 2016, 283-357 (2016) View citations (94) (2016)
    Working Paper Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis, Working Paper Series (2016) View citations (26) (2016)
18. Signalling Effects of Monetary Policy
    The Review of Economic Studies, 2017, 84, (2), 853-884 View citations (131)
    See also Working Paper Signaling Effects of Monetary Policy, Working Paper Series (2016) View citations (67) (2016)

2016

19. MODELING THE EVOLUTION OF EXPECTATIONS AND UNCERTAINTY IN GENERAL EQUILIBRIUM
    International Economic Review, 2016, 57, (2), 717-756 View citations (11)
    See also Working Paper Modeling the Evolution of Expectations and Uncertainty in General Equilibrium, 2013 Meeting Papers (2013) View citations (4) (2013)

2014

20. Dormant Shocks and Fiscal Virtue
    NBER Macroeconomics Annual, 2014, 28, (1), 1 - 46 View citations (16)
    See also Working Paper Dormant Shocks and Fiscal Virtue, Working Papers (2013) View citations (48) (2013)
    Chapter Dormant Shocks and Fiscal Virtue, NBER Chapters, 2013, 1-46 (2013) View citations (46) (2013)
21. Estimating Models with Dispersed Information
    American Economic Journal: Macroeconomics, 2014, 6, (1), 1-31 View citations (62)
22. The Natural Rate of Interest and Its Usefulness for Monetary Policy
    American Economic Review, 2014, 104, (5), 37-43 View citations (147)

2013

23. Comment
    NBER International Seminar on Macroeconomics, 2013, 9, (1), 174 - 179
24. Methods for computing marginal data densities from the Gibbs output
    Journal of Econometrics, 2013, 175, (2), 132-141 View citations (12)
    See also Working Paper Methods for Computing Marginal Data Densities from the Gibbs Output, Departmental Working Papers (2011) (2011)

Chapters

2016

1. Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis
   A chapter in NBER Macroeconomics Annual 2016, Volume 31, 2016, pp 283-357 View citations (94)
   See also Working Paper Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis, Federal Reserve Bank of Chicago (2016) View citations (26) (2016)
   Journal Article Forward Guidance and Macroeconomic Outcomes since the Financial Crisis, University of Chicago Press (2017) View citations (95) (2017)

2013

2. Dormant Shocks and Fiscal Virtue
   A chapter in NBER Macroeconomics Annual 2013, Volume 28, 2013, pp 1-46 View citations (46)
   See also Working Paper Dormant Shocks and Fiscal Virtue, Duke University, Department of Economics (2013) View citations (48) (2013)
   Journal Article Dormant Shocks and Fiscal Virtue, University of Chicago Press (2014) View citations (16) (2014)

2012

3. Comment on "Global House Price Fluctuations: Synchronization and Determinants"
   A chapter in NBER International Seminar on Macroeconomics 2012, 2012, pp 174-179