Details about Massimo Rostagno

Access statistics for papers by Massimo Rostagno.

Last updated 2025-11-11. Update your information in the RePEc Author Service.

Short-id: pro107

Working Papers

2025

1. When banks hold back: credit and liquidity provision
   Working Paper Series, European Central Bank View citations (3)

2023

2. Anchoring QT: Liquidity, credit and monetary policy implementation
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2021

3. Combining negative rates, forward guidance and asset purchases: identification and impacts of the ECB’s unconventional policies
   Working Paper Series, European Central Bank View citations (18)

2019

4. A tale of two decades: the ECB’s monetary policy at 20
   Working Paper Series, European Central Bank View citations (92)

2013

5. Risk Shocks
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (36)
   See also Journal Article Risk Shocks, American Economic Review, American Economic Association (2014) View citations (552) (2014)

2011

6. A monetary policy strategy in good and bad times: lessons from the recent past
   Working Paper Series, European Central Bank View citations (37)
   See also Journal Article A monetary policy strategy in good and bad times: lessons from the recent past, Economic Policy, CEPR, CESifo, Sciences Po (2013) View citations (40) (2013)
7. Monetary Policy and Stock Market Booms
   Working Papers, Banco Central de Reserva del Perú View citations (6)
   Also in FRB Atlanta CQER Working Paper, Federal Reserve Bank of Atlanta (2010) View citations (115)
   NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (203)
   Working Papers, Duke University, Department of Economics (2010) View citations (186)
   See also Journal Article Monetary policy and stock market booms, Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City (2010) View citations (97) (2010)

2010

8. Financial Factors in Economic Fluctuations
   2010 Meeting Papers, Society for Economic Dynamics View citations (443)
   Also in Working Paper Series, European Central Bank (2010) View citations (446)

2008

9. Financial Factors in Business Cycles
   2008 Meeting Papers, Society for Economic Dynamics View citations (14)
10. Monetary policy and stock market boom-bust cycles
    Working Paper Series, European Central Bank View citations (226)

2007

11. Shocks, Structures or Monetary Policies? The Euro Area and US After 2001
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
    Also in Working Paper Series, European Central Bank (2007) View citations (42)
    See also Journal Article Shocks, structures or monetary policies? The Euro Area and US after 2001, Journal of Economic Dynamics and Control, Elsevier (2008) View citations (130) (2008)
12. Two Reasons Why Money and Credit May be Useful in Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (82)

2004

13. The Great Depression and the Friedman-Schwartz Hypothesis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (74)
    Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2004) View citations (52)
    Working Paper Series, European Central Bank (2004) View citations (65)
    See also Journal Article The Great Depression and the Friedman-Schwartz hypothesis, Proceedings, Federal Reserve Bank of Cleveland (2003) View citations (269) (2003)

2002

14. Debt reduction and automatic stabilisation
    Economic Working Papers at Centro de Estudios Andaluces, Centro de Estudios Andaluces View citations (2)
    Also in Working Paper Series, European Central Bank (2002) View citations (1)

2001

15. Electoral Rules and Public Spending
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
16. Electoral System and Public Spending
    IMF Working Papers, International Monetary Fund View citations (6)
    See also Journal Article Electoral Systems and Public Spending, The Quarterly Journal of Economics, President and Fellows of Harvard College (2002) View citations (366) (2002)
17. Money Growth Monitoring and the Taylor Rule
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (107)

1999

18. Redistribution Through Public Employment: The Case of Italy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (85)
    Also in IMF Working Papers, International Monetary Fund (1999) View citations (36)
    See also Journal Article Redistribution Through Public Employment: The Case of Italy, IMF Staff Papers, Palgrave Macmillan (2001) View citations (118) (2001)

1998

19. The Italian Social Protection System: The Poverty of Welfare
    IMF Working Papers, International Monetary Fund View citations (4)

Journal Articles

2025

1. An options-based impact study of the negative interest rate policy and forward guidance
   Journal of Monetary Economics, 2025, 152, (C)

2014

2. Risk Shocks
   American Economic Review, 2014, 104, (1), 27-65 View citations (552)
   See also Working Paper Risk Shocks, NBER Working Papers (2013) View citations (36) (2013)

2013

3. A monetary policy strategy in good and bad times: lessons from the recent past
   (Inflation persistence and price-setting behavior in the euro area – a summary of the IPN evidence)
   Economic Policy, 2013, 28, (74), 243-288 View citations (40)
   See also Working Paper A monetary policy strategy in good and bad times: lessons from the recent past, Working Paper Series (2011) View citations (37) (2011)

2011

4. Política monetaria y auges del mercado bursátil
   Monetaria, 2011, XXXIV, (2), 257-319

2010

5. DSGE models and their use at the ECB
   SERIEs: Journal of the Spanish Economic Association, 2010, 1, (1), 51-65 View citations (49)
6. Monetary policy and stock market booms
   Proceedings - Economic Policy Symposium - Jackson Hole, 2010, 85-145 View citations (97)
   See also Working Paper Monetary Policy and Stock Market Booms, Working Papers (2011) View citations (6) (2011)

2009

7. The trade-off between public debt reduction and automatic stabilisation
   Economic Modelling, 2009, 26, (2), 464-472 View citations (5)

2008

8. Shocks, structures or monetary policies? The Euro Area and US after 2001
   Journal of Economic Dynamics and Control, 2008, 32, (8), 2476-2506 View citations (130)
   See also Working Paper Shocks, Structures or Monetary Policies? The Euro Area and US After 2001, NBER Working Papers (2007) View citations (41) (2007)

2005

9. Bubbles, financial shocks, and monetary policy
   Proceedings, 2005 View citations (1)

2003

10. The Great Depression and the Friedman-Schwartz hypothesis
    Proceedings, 2003, 1119-1215 View citations (269)
    See also Working Paper The Great Depression and the Friedman-Schwartz Hypothesis, NBER Working Papers (2004) View citations (74) (2004)

2002

11. Electoral Systems and Public Spending
    The Quarterly Journal of Economics, 2002, 117, (2), 609-657 View citations (366)
    See also Working Paper Electoral System and Public Spending, IMF Working Papers (2001) View citations (6) (2001)

2001

12. Redistribution Through Public Employment: The Case of Italy
    IMF Staff Papers, 2001, 48, (3), 2 View citations (118)
    See also Working Paper Redistribution Through Public Employment: The Case of Italy, NBER Working Papers (1999) View citations (85) (1999)

Chapters

2003

1. The role of money in monetary policymaking
   A chapter in Monetary policy in a changing environment, 2003, vol. 19, pp 158-191 View citations (32)

2001

2. Optimal Debt Under a Deficit Constraint
   Palgrave Macmillan View citations (1)