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Details about Tommaso Monacelli

Homepage:https://sites.google.com/site/monacellitommaso
Phone:+39-02-5836-3330
Postal address:Università Bocconi and IGIER Via Roentgen 1, 20136 Milan (Italy)
Workplace:Innocenzo Gasparini Institute for Economic Research (IGIER), Università Commerciale Luigi Bocconi (Bocconi University), (more information at EDIRC)

Access statistics for papers by Tommaso Monacelli.

Last updated 2024-07-04. Update your information in the RePEc Author Service.

Short-id: pmo32


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Working Papers

2024

  1. Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix
    Janeway Institute Working Papers, Faculty of Economics, University of Cambridge Downloads
    Also in Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge (2024) Downloads
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) Downloads View citations (2)

2022

  1. HBANK: Monetary Policy with Heterogeneous Banks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads
  2. Monetary Policy with Heterogeneous Risk
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads

2020

  1. Bewley Banks
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads
  2. Fiscal Policy in Europe: A Helicopter View
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) Downloads View citations (2)

2018

  1. Real Interest Rates and Productivity in Small Open Economies
    Working papers, Banque de France Downloads View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) Downloads View citations (5)

    See also Journal Article Real interest rates and productivity in small open economies, Journal of International Economics, Elsevier (2023) Downloads View citations (3) (2023)

2016

  1. The Inherent Benefit of Monetary Unions
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (4)
    Also in VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association (2016) Downloads View citations (9)
    Kiel Working Papers, Kiel Institute for the World Economy (IfW Kiel) (2016) Downloads View citations (4)

    See also Journal Article The inherent benefit of monetary unions, Journal of Monetary Economics, Elsevier (2020) Downloads View citations (10) (2020)
  2. Understanding the Gains from Wage Flexibility: The Exchange Rate Connection
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (79)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2016) Downloads View citations (82)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) Downloads View citations (10)
    Working Papers, Barcelona School of Economics (2015) Downloads View citations (3)

    See also Journal Article Understanding the Gains from Wage Flexibility: The Exchange Rate Connection, American Economic Review, American Economic Association (2016) Downloads View citations (78) (2016)

2015

  1. Deleverage and Financial Fragility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (3)
    Also in Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University (2015) Downloads View citations (3)
  2. Is Government Spending at the Zero Lower Bound Desirable?
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) Downloads View citations (27)
    NBER Working Papers, National Bureau of Economic Research, Inc (2014) Downloads View citations (25)

    See also Journal Article Is Government Spending at the Zero Lower Bound Desirable?, American Economic Journal: Macroeconomics, American Economic Association (2019) Downloads View citations (13) (2019)

2013

  1. Public Debt and Redistribution with Borrowing Constraints
    PSE-Ecole d'économie de Paris (Postprint), HAL View citations (47)
    Also in Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University (2012) Downloads View citations (3)
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University (2012) Downloads View citations (3)
    Post-Print, HAL (2013) View citations (46)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) Downloads View citations (3)
    Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2013) View citations (48)

    See also Journal Article Public Debt and Redistribution with Borrowing Constraints, Economic Journal, Royal Economic Society (2013) Downloads View citations (51) (2013)

2012

  1. Is Monetary Policy in an Open Economy Fundamentally Different?
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2012) Downloads View citations (3)

2011

  1. Financial Markets and Unemployment
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (66)
    See also Journal Article Financial markets and unemployment, Journal of Financial Economics, Elsevier (2023) Downloads View citations (1) (2023)
  2. How Institutions Shape the Distributive Impact of Macroeconomic Shocks: A DSGE Analysis
    OECD Economics Department Working Papers, OECD Publishing Downloads View citations (3)
  3. Redistribution and the Multiplier
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (9)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) Downloads View citations (9)

    See also Journal Article Redistribution and the Multiplier, IMF Economic Review, Palgrave Macmillan (2011) Downloads View citations (9) (2011)
  4. Tax Cuts, Redistribution, and Borrowing Constraints
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (5)
  5. Taxes and the Labor Market
    Working Papers Central Bank of Chile, Central Bank of Chile Downloads View citations (3)
    See also Chapter Taxes and the Labor Market, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2013) Downloads (2013)

2010

  1. Unemployment Fiscal Multipliers
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (156)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) Downloads View citations (156)

    See also Journal Article Unemployment fiscal multipliers, Journal of Monetary Economics, Elsevier (2010) Downloads View citations (152) (2010)

2009

  1. Housing finance and monetary policy
    Working Paper Series, European Central Bank Downloads View citations (62)
    See also Journal Article HOUSING FINANCE AND MONETARY POLICY, Journal of the European Economic Association, European Economic Association (2013) Downloads View citations (266) (2013)

2008

  1. Fiscal Policy, Wealth Effects and Markups
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (154)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) Downloads View citations (165)
  2. Optimal monetary and fiscal policy in a currency union
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra Downloads View citations (316)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2005) Downloads View citations (25)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) Downloads View citations (26)
    Working Papers, Barcelona School of Economics (2005) Downloads View citations (17)
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University (2005) Downloads View citations (14)

    See also Journal Article Optimal monetary and fiscal policy in a currency union, Journal of International Economics, Elsevier (2008) Downloads View citations (301) (2008)

2007

  1. Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (74)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2006) Downloads View citations (7)

2006

  1. New Keynesian Models, Durable Goods and Collateral Constraints
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (8)
    See also Journal Article New Keynesian models, durable goods, and collateral constraints, Journal of Monetary Economics, Elsevier (2009) Downloads View citations (219) (2009)
  2. Optimal Monetary Policy in a Small Open Economy with Home Bias
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (8)
    Also in Computing in Economics and Finance 2006, Society for Computational Economics (2006) Downloads View citations (5)

    See also Journal Article Optimal Monetary Policy in a Small Open Economy with Home Bias, Journal of Money, Credit and Banking, Blackwell Publishing (2008) Downloads View citations (27) (2008)
  3. Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (37)
    See also Chapter Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints, NBER Chapters, National Bureau of Economic Research, Inc (2008) Downloads View citations (18) (2008)

2005

  1. Fiscal Policy Rules and Regime (In)Stability: Evidence from the U.S
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (54)
  2. Optimal Interest Rate Rules, Asset Prices and Credit Frictions
    Computing in Economics and Finance 2005, Society for Computational Economics Downloads View citations (41)
    See also Journal Article Optimal interest rate rules, asset prices, and credit frictions, Journal of Economic Dynamics and Control, Elsevier (2007) Downloads View citations (251) (2007)
  3. Optimal Monetary Policy Rules, Asset Prices and Credit Frictions
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (23)
    Also in Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University (2005) Downloads View citations (19)

2004

  1. Monetary policy and exchange rate volatility in a small open economy
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra Downloads View citations (33)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) Downloads View citations (158)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) Downloads View citations (172)
    Working Papers, Barcelona School of Economics (2003) Downloads View citations (15)

    See also Journal Article Monetary Policy and Exchange Rate Volatility in a Small Open Economy, The Review of Economic Studies, Review of Economic Studies Ltd (2005) Downloads View citations (1229) (2005)
  2. Ramsey Monetary Policy and International Relative Prices
    2004 Meeting Papers, Society for Economic Dynamics View citations (23)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2004) Downloads View citations (24)
    Working Paper Series, European Central Bank (2004) Downloads View citations (24)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) Downloads View citations (23)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2004) Downloads View citations (21)
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University (2004) Downloads View citations (24)

    See also Journal Article Ramsey monetary policy and international relative prices, Proceedings, Board of Governors of the Federal Reserve System (U.S.) (2003) Downloads View citations (4) (2003)

2003

  1. Commitment, Discretion and Fixed Exchange Rates in an Open Economy
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (2)
  2. Monetary Policy in a Low Pass-Through Environment
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (60)
    Also in Working Paper Series, European Central Bank (2003) Downloads View citations (77)
  3. Monetary-Fiscal Mix and Inflation Performance: Evidence from the U.S
    Working Papers, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University Downloads View citations (37)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) Downloads View citations (33)

2001

  1. New International Monetary Arrangements and the Exchange Rate
    Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) Downloads View citations (6)
    Also in Boston College Working Papers in Economics, Boston College Department of Economics (2001) Downloads View citations (6)

    See also Journal Article New International Monetary Arrangements and the Exchange Rate, International Journal of Finance & Economics, John Wiley & Sons, Ltd. (2001) Downloads View citations (6) (2001)

2000

  1. Into the Mussa Puzzle: Monetary Policy Regimes and the Real Exchange Rate in a Small Open Economy
    Boston College Working Papers in Economics, Boston College Department of Economics Downloads View citations (39)
    See also Journal Article Into the Mussa puzzle: monetary policy regimes and the real exchange rate in a small open economy, Journal of International Economics, Elsevier (2004) Downloads View citations (107) (2004)
  2. Relinquishing Monetary Policy Independence
    Boston College Working Papers in Economics, Boston College Department of Economics Downloads View citations (8)

1999

  1. Optimal Monetary Policy and Exchange Rate Volatility in a Small Open Economy
    Boston College Working Papers in Economics, Boston College Department of Economics Downloads View citations (109)

Journal Articles

2023

  1. Financial markets and unemployment
    Journal of Financial Economics, 2023, 147, (3), 596-626 Downloads View citations (1)
    See also Working Paper Financial Markets and Unemployment, NBER Working Papers (2011) Downloads View citations (66) (2011)
  2. Real interest rates and productivity in small open economies
    Journal of International Economics, 2023, 142, (C) Downloads View citations (3)
    See also Working Paper Real Interest Rates and Productivity in Small Open Economies, Working papers (2018) Downloads View citations (2) (2018)

2021

  1. Fiscal Policy in Europe: Controversies over Rules, Mutual Insurance, and Centralization
    Journal of Economic Perspectives, 2021, 35, (2), 77-100 Downloads View citations (14)

2020

  1. The inherent benefit of monetary unions
    Journal of Monetary Economics, 2020, 111, (C), 63-79 Downloads View citations (10)
    See also Working Paper The Inherent Benefit of Monetary Unions, CEPR Discussion Papers (2016) Downloads View citations (4) (2016)

2019

  1. Is Government Spending at the Zero Lower Bound Desirable?
    American Economic Journal: Macroeconomics, 2019, 11, (3), 147-73 Downloads View citations (13)
    See also Working Paper Is Government Spending at the Zero Lower Bound Desirable?, Working Papers (2015) Downloads View citations (4) (2015)

2016

  1. Understanding the Gains from Wage Flexibility: The Exchange Rate Connection
    American Economic Review, 2016, 106, (12), 3829-68 Downloads View citations (78)
    See also Working Paper Understanding the Gains from Wage Flexibility: The Exchange Rate Connection, NBER Working Papers (2016) Downloads View citations (79) (2016)

2013

  1. HOUSING FINANCE AND MONETARY POLICY
    Journal of the European Economic Association, 2013, 11, 101-122 Downloads View citations (266)
    See also Working Paper Housing finance and monetary policy, Working Paper Series (2009) Downloads View citations (62) (2009)
  2. Is Monetary Policy in an Open Economy Fundamentally Different&quest
    IMF Economic Review, 2013, 61, (1), 6-21 Downloads View citations (35)
  3. Public Debt and Redistribution with Borrowing Constraints
    Economic Journal, 2013, F64-F98 Downloads View citations (51)
    See also Working Paper Public Debt and Redistribution with Borrowing Constraints, PSE-Ecole d'économie de Paris (Postprint) (2013) View citations (47) (2013)

2011

  1. Comment
    NBER International Seminar on Macroeconomics, 2011, 7, (1), 87 - 94 Downloads
  2. Redistribution and the Multiplier
    IMF Economic Review, 2011, 59, (4), 630-651 Downloads View citations (9)
    See also Working Paper Redistribution and the Multiplier, Working Papers (2011) Downloads View citations (9) (2011)

2010

  1. Fiscal Policy, the Real Exchange Rate and Traded Goods
    Economic Journal, 2010, 120, (544), 437-461 View citations (138)
  2. Unemployment fiscal multipliers
    Journal of Monetary Economics, 2010, 57, (5), 531-553 Downloads View citations (152)
    See also Working Paper Unemployment Fiscal Multipliers, CEPR Discussion Papers (2010) Downloads View citations (156) (2010)

2009

  1. New Keynesian models, durable goods, and collateral constraints
    Journal of Monetary Economics, 2009, 56, (2), 242-254 Downloads View citations (219)
    See also Working Paper New Keynesian Models, Durable Goods and Collateral Constraints, CEPR Discussion Papers (2006) Downloads View citations (8) (2006)
  2. The International Dimension of Inflation: Evidence from Disaggregated Consumer Price Data
    Journal of Money, Credit and Banking, 2009, 41, (s1), 101-120 View citations (87)
    Also in Journal of Money, Credit and Banking, 2009, 41, (s1), 101-120 (2009) Downloads View citations (13)

2008

  1. Openness and the Sectoral Effects of Fiscal Policy
    Journal of the European Economic Association, 2008, 6, (2-3), 395-403 Downloads View citations (63)
  2. Optimal Monetary Policy in a Small Open Economy with Home Bias
    Journal of Money, Credit and Banking, 2008, 40, (4), 721-750 Downloads View citations (27)
    Also in Journal of Money, Credit and Banking, 2008, 40, (4), 721-750 (2008) View citations (163)

    See also Working Paper Optimal Monetary Policy in a Small Open Economy with Home Bias, CEPR Discussion Papers (2006) Downloads View citations (8) (2006)
  3. Optimal monetary and fiscal policy in a currency union
    Journal of International Economics, 2008, 76, (1), 116-132 Downloads View citations (301)
    See also Working Paper Optimal monetary and fiscal policy in a currency union, Economics Working Papers (2008) Downloads View citations (316) (2008)
  4. The international dimension of inflation: evidence from disaggregated data
    Proceedings, 2008 Downloads View citations (2)

2007

  1. Optimal interest rate rules, asset prices, and credit frictions
    Journal of Economic Dynamics and Control, 2007, 31, (10), 3228-3254 Downloads View citations (251)
    See also Working Paper Optimal Interest Rate Rules, Asset Prices and Credit Frictions, Computing in Economics and Finance 2005 (2005) Downloads View citations (41) (2005)

2005

  1. Monetary Policy and Exchange Rate Volatility in a Small Open Economy
    The Review of Economic Studies, 2005, 72, (3), 707-734 Downloads View citations (1229)
    See also Working Paper Monetary policy and exchange rate volatility in a small open economy, Economics Working Papers (2004) Downloads View citations (33) (2004)
  2. Optimal fiscal policy in a monetary union
    Proceedings, 2005 Downloads View citations (13)

2004

  1. Into the Mussa puzzle: monetary policy regimes and the real exchange rate in a small open economy
    Journal of International Economics, 2004, 62, (1), 191-217 Downloads View citations (107)
    See also Working Paper Into the Mussa Puzzle: Monetary Policy Regimes and the Real Exchange Rate in a Small Open Economy, Boston College Working Papers in Economics (2000) Downloads View citations (39) (2000)

2003

  1. Ramsey monetary policy and international relative prices
    Proceedings, 2003 Downloads View citations (4)
    See also Working Paper Ramsey Monetary Policy and International Relative Prices, 2004 Meeting Papers (2004) View citations (23) (2004)

2001

  1. New International Monetary Arrangements and the Exchange Rate
    International Journal of Finance & Economics, 2001, 6, (4), 389-400 Downloads View citations (6)
    See also Working Paper New International Monetary Arrangements and the Exchange Rate, Working Papers (2001) Downloads View citations (6) (2001)

1995

  1. How much (a)symmetry in Europe? Evidence from industrial sectors
    European Economic Review, 1995, 39, (5), 1017-1041 Downloads View citations (64)

Chapters

2013

  1. Taxes and the Labor Market
    Chapter 2 in Fiscal Policy and Macroeconomic Performance, 2013, vol. 17, pp 27-58 Downloads
    See also Working Paper Taxes and the Labor Market, Central Bank of Chile (2011) Downloads View citations (3) (2011)

2010

  1. Comment on "Business Cycles in the Euro Area"
    A chapter in Europe and the Euro, 2010, pp 447-454 Downloads
  2. Comment on "Technology-Hours Redux: Tax Changes and the Measurement of Technology Shocks"
    A chapter in NBER International Seminar on Macroeconomics 2010, 2010, pp 87-94 Downloads

2008

  1. Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints
    A chapter in Asset Prices and Monetary Policy, 2008, pp 103-146 Downloads View citations (18)
    See also Working Paper Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints, National Bureau of Economic Research, Inc (2006) Downloads View citations (37) (2006)

2007

  1. Comment on "Globalization and Inflation Dynamics: The Impact of Increased Competition"
    A chapter in International Dimensions of Monetary Policy, 2007, pp 579-590 Downloads
 
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