Details about Livio Stracca

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Workplace:	European Central Bank, (more information at EDIRC)

Access statistics for papers by Livio Stracca.

Last updated 2024-03-06. Update your information in the RePEc Author Service.

Short-id: pst122

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Working Papers

2023

1. Pollution havens? Carbon taxes, globalization, and the geography of emissions
   Working Paper Series, European Central Bank View citations (3)
2. The asymmetric adjustment of global imbalances: myth or fact?
   Working Paper Series, European Central Bank

2022

3. Leaning against the global financial cycle
   Working Paper Series, European Central Bank View citations (2)
4. Public and private risk sharing: friends or foes? The interplay between different forms of risk sharing
   Occasional Paper Series, European Central Bank View citations (2)

2021

5. Climate change and monetary policy in the euro area
   Occasional Paper Series, European Central Bank View citations (24)
6. Feeling the heat: extreme temperatures and price stability
   Working Paper Series, European Central Bank View citations (30)
7. Globalisation and the efficiency-equity trade-off
   Working Paper Series, European Central Bank View citations (1)
8. Making waves: Monetary policy and its asymmetric spillovers in a globalised world
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2020

9. Central bank digital currency in an open economy
   Working Paper Series, European Central Bank View citations (28)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (27)
   See also Journal Article Central bank digital currency in an open economy, Journal of Monetary Economics, Elsevier (2022) View citations (54) (2022)
10. Firm-specific shocks and contagion: are banks special?
    Working Paper Series, European Central Bank
11. How much does aggregate demand travel across the Atlantic?
    Working Paper Series, European Central Bank
12. Monetary policy and its transmission in a globalised world
    Working Paper Series, European Central Bank View citations (30)
13. The fundamentals of safe assets
    Working Paper Series, European Central Bank View citations (23)
    See also Journal Article The fundamentals of safe assets, Journal of International Money and Finance, Elsevier (2020) View citations (18) (2020)
14. The international dimension of a fragile EMU
    Working papers, Banque de France
15. The international dimension of an incomplete EMU
    Working Paper Series, European Central Bank View citations (1)

2019

16. Crypto-Assets: Implications for financial stability, monetary policy, and payments and market infrastructures
    Occasional Paper Series, European Central Bank View citations (4)
17. Medium term treatment and side effects of quantitative easing: international evidence
    Working Paper Series, European Central Bank View citations (20)
18. Much ado about nothing? The shale oil revolution and the global supply curve
    Working Paper Series, European Central Bank View citations (6)
19. The Global Financial Cycle and Capital Flow Episodes: A Wobbly Link?
    CESifo Working Paper Series, CESifo View citations (13)
    Also in Working Paper Series, European Central Bank (2019) View citations (13)

2017

20. If the Fed sneezes, who catches a cold?
    Working Paper Series, European Central Bank View citations (151)
    See also Chapter If the Fed Sneezes, Who Catches a Cold?, NBER Chapters, National Bureau of Economic Research, Inc (2016) View citations (12) (2016)
    Journal Article If the Fed sneezes, who catches a cold?, Journal of International Economics, Elsevier (2017) View citations (134) (2017)
21. More than a feeling: confidence, uncertainty and macroeconomic fluctuations
    Working Paper Series, European Central Bank View citations (15)
    See also Journal Article MORE THAN A FEELING: CONFIDENCE, UNCERTAINTY, AND MACROECONOMIC FLUCTUATIONS, Journal of Economic Surveys, Wiley Blackwell (2020) View citations (28) (2020)
22. Trade, finance or policies: what drives the cross-border spill-over of business cycles?
    Working Paper Series, European Central Bank
    See also Journal Article Trade, finance or policies: What drives the cross-border spill-over of business cycles?, Journal of Macroeconomics, Elsevier (2016) View citations (16) (2016)

2016

23. The real exchange rate and economic growth: revisiting the case using external instruments
    Working Paper Series, European Central Bank View citations (13)
    See also Journal Article The real exchange rate and economic growth: Revisiting the case using external instruments, Journal of International Money and Finance, Elsevier (2017) View citations (55) (2017)
24. What Do We Know About the Global Financial Safety Net? A New Comprehensive Data Set
    CESifo Working Paper Series, CESifo View citations (10)
    See also Journal Article What do we know about the global financial safety net? A new comprehensive data set, Journal of International Money and Finance, Elsevier (2019) View citations (8) (2019)
25. What do we know about the global financial safety net? Data, rationale and possible evolution
    VfS Annual Conference 2016 (Augsburg): Demographic Change, Verein für Socialpolitik / German Economic Association View citations (16)
26. What do we know about the global financial safety net? Rationale, data and possible evolution
    Occasional Paper Series, European Central Bank View citations (26)

2015

27. Capital Regulation in a Macroeconomic Model with Three Layers of Default
    Working Papers, Banco de Portugal, Economics and Research Department View citations (194)
    Also in Working Papers, CEMFI (2014) View citations (42)
    Working Paper Series, European Central Bank (2015) View citations (201)
    Working papers, Banque de France (2014) View citations (31)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (26)
    See also Journal Article Capital Regulation in a Macroeconomic Model with Three Layers of Default, International Journal of Central Banking, International Journal of Central Banking (2015) View citations (192) (2015)
28. Does fiscal austerity affect public opinion?
    Working Paper Series, European Central Bank View citations (1)

2014

29. The effect of G20 summits on global financial markets
    Working Paper Series, European Central Bank View citations (2)

2013

30. Financial imbalances and household welfare: empirical evidence from the EU
    Working Paper Series, European Central Bank View citations (1)
    See also Journal Article Financial imbalances and household welfare: Empirical evidence from the EU, Journal of Financial Stability, Elsevier (2014) View citations (5) (2014)
31. Foreign investors and risk shocks: seeking a safe haven or running for the exit?
    Working Paper Series, European Central Bank View citations (19)
32. Macroeconomic imbalances: a question of trust?
    Working Paper Series, European Central Bank View citations (6)
33. The global effects of the euro debt crisis
    Working Paper Series, European Central Bank View citations (17)
34. The rise of China and India: blessing or curse for the advanced countries?
    Working Paper Series, European Central Bank View citations (2)
35. What does a financial shock do? First international evidence
    Working Paper Series, European Central Bank View citations (23)
    See also Journal Article What does a financial shock do? First international evidence, Economic Policy, CEPR, CESifo, Sciences Po (2012) View citations (39) (2012)

2012

36. Explaining EU Citizens' Trust in the ECB in Normal and Crisis Times
    Economics Series, Institute for Advanced Studies View citations (6)
    Also in Working Paper Series, European Central Bank (2012) View citations (7)
37. Global exchange rate configurations: Do oil shocks matter?
    Working Paper Series, European Central Bank View citations (57)
    See also Journal Article Global Exchange Rate Configurations: Do Oil Shocks Matter?, IMF Economic Review, Palgrave Macmillan (2016) View citations (78) (2016)

2011

38. Getting beyond carry trade: what makes a safe haven currency?
    Working Paper Series, European Central Bank View citations (26)
    See also Journal Article Getting beyond carry trade: What makes a safe haven currency?, Journal of International Economics, Elsevier (2012) View citations (148) (2012)
39. Have euro area and EU economic governance worked? Just the facts
    Working Paper Series, European Central Bank View citations (9)
40. Housing, consumption and monetary policy: how different are the U.S. and the euro area?
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (124)
    Also in Working Paper Series, European Central Bank (2010) View citations (6)
    See also Journal Article Housing, consumption and monetary policy: How different are the US and the euro area?, Journal of Banking & Finance, Elsevier (2011) View citations (125) (2011)

2010

41. A decade (and a global financial crisis) after Blinder: The interaction between researchers and policy-makers in central banks
    Working Paper Series, European Central Bank View citations (3)
42. Is the New Keynesian IS curve structural?
    Working Paper Series, European Central Bank View citations (19)

2009

43. Does it pay to have the euro? Italy’s politics and financial markets under the lira and the euro
    Working Paper Series, European Central Bank View citations (5)
44. EMU and the adjustment to asymmetric shocks: the case of Italy
    Working Paper Series, European Central Bank View citations (10)
45. Housing finance and monetary policy
    Working Paper Series, European Central Bank View citations (62)
    See also Journal Article HOUSING FINANCE AND MONETARY POLICY, Journal of the European Economic Association, European Economic Association (2013) View citations (281) (2013)

2008

46. A persistence-weighted measure of core inflation in the euro area
    Working Paper Series, European Central Bank View citations (10)
    See also Journal Article A persistence-weighted measure of core inflation in the Euro area, Economic Modelling, Elsevier (2007) View citations (6) (2007)
47. Does money matter in the IS curve? The case of the UK
    Working Paper Series, European Central Bank View citations (12)
    See also Journal Article DOES MONEY MATTER IN THE IS CURVE? THE CASE OF THE UK, Manchester School, University of Manchester (2008) View citations (11) (2008)
48. The political economy under monetary union: has the euro made a difference?
    Working Paper Series, European Central Bank View citations (9)
    See also Journal Article The political economy under monetary union: has the euro made a difference?, Economic Policy, CEPR, CESifo, Sciences Po (2009) View citations (19) (2009)

2007

49. Instability and nonlinearity in the euro area Phillips curve
    Working Paper Series, European Central Bank View citations (23)
    See also Journal Article Instability and Nonlinearity in the Euro-Area Phillips Curve, International Journal of Central Banking, International Journal of Central Banking (2009) View citations (44) (2009)
50. Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (73)
    Also in CFS Working Paper Series, Center for Financial Studies (CFS) (2006) View citations (7)
51. Should we take inside money seriously?
    Working Paper Series, European Central Bank View citations (2)
52. What is global excess liquidity, and does it matter?
    Money Macro and Finance (MMF) Research Group Conference 2006, Money Macro and Finance Research Group View citations (20)
    Also in Working Paper Series, European Central Bank (2006) View citations (101)

2006

53. A speed limit monetary policy rule for the euro area
    Working Paper Series, European Central Bank View citations (5)
    See also Journal Article A Speed Limit Monetary Policy Rule for the Euro Area, International Finance, Wiley Blackwell (2007) View citations (15) (2007)
54. Are money and consumption additively separable in the euro area? A non-parametric approach
    Working Paper Series, European Central Bank View citations (12)

2005

55. Delegated portfolio management: a survey of the theoretical literature
    Working Paper Series, European Central Bank View citations (20)
    See also Journal Article DELEGATED PORTFOLIO MANAGEMENT: A SURVEY OF THE THEORETICAL LITERATURE, Journal of Economic Surveys, Wiley Blackwell (2006) View citations (39) (2006)
56. Keeping up with the Joneses, reference dependence, and equilibrium indeterminacy
    Working Paper Series, European Central Bank View citations (2)
57. Liquidity and real equilibrium interest rates: a framework of analysis
    Working Paper Series, European Central Bank View citations (1)

2004

58. Demand and supply in the ECB's main refinancing operations
    Money Macro and Finance (MMF) Research Group Conference 2003, Money Macro and Finance Research Group View citations (1)

2003

59. How does the ECB allot liquidity in its weekly main refinancing operations? A look at the empirical evidence
    Working Paper Series, European Central Bank View citations (16)
60. Myopic loss aversion, disappointment aversion, and the equity premium puzzle
    Working Paper Series, European Central Bank View citations (4)
    See also Journal Article Myopic loss aversion, disappointment aversion, and the equity premium puzzle, Journal of Economic Behavior & Organization, Elsevier (2007) View citations (11) (2007)

2002

61. Behavioural Finance and Aggregate Market Behaviour: Where do we Stand?
    Discussion Papers in Economics, Division of Economics, School of Business, University of Leicester View citations (1)
62. Non-standard central bank loss functions, skewed risks, and certainty equivalence
    Working Paper Series, European Central Bank View citations (6)
63. Non-standard central bank loss functions, skewed risks, and the certainty equivalence principle
    Royal Economic Society Annual Conference 2002, Royal Economic Society View citations (6)
64. The optimal allocation of risks under prospect theory
    Working Paper Series, European Central Bank View citations (3)

2001

65. Does liquidity matter? Properties of a synthetic divisia monetary aggregate in the euro area
    Working Paper Series, European Central Bank View citations (18)
66. The functional form of the demand for euro area M1
    Working Paper Series, European Central Bank View citations (16)
    See also Journal Article The Functional Form Of The Demand For Euro Area M1, Manchester School, University of Manchester (2003) View citations (20) (2003)

Undated

67. Economics and Politics: Interest Rate Convergence in Europe and EMU
    Discussion Papers in European Economics, Division of Economics, School of Business, University of Leicester View citations (1)

Journal Articles

2024

1. The international impact of a fragile EMU
   European Economic Review, 2024, 161, (C) View citations (2)

2023

2. Making Waves: Monetary Policy and Its Asymmetric Transmission in a Globalized World
   International Journal of Central Banking, 2023, 19, (2), 95-144 View citations (4)
3. The shale oil revolution and the global oil supply curve
   Journal of Applied Econometrics, 2023, 38, (3), 370-387 View citations (2)

2022

4. Central bank digital currency in an open economy
   Journal of Monetary Economics, 2022, 127, (C), 54-68 View citations (54)
   See also Working Paper Central bank digital currency in an open economy, Working Paper Series (2020) View citations (28) (2020)

2021

5. Making waves – Fed spillovers are stronger and more encompassing than the ECB’s
   Research Bulletin, 2021, 83 View citations (1)

2020

6. MORE THAN A FEELING: CONFIDENCE, UNCERTAINTY, AND MACROECONOMIC FLUCTUATIONS
   Journal of Economic Surveys, 2020, 34, (4), 691-726 View citations (28)
   See also Working Paper More than a feeling: confidence, uncertainty and macroeconomic fluctuations, Working Paper Series (2017) View citations (15) (2017)
7. Mad about Austerity? The Effect of Fiscal Consolidation on Public Opinion
   Journal of Money, Credit and Banking, 2020, 52, (2-3), 531-548 View citations (6)
8. The fundamentals of safe assets
   Journal of International Money and Finance, 2020, 102, (C) View citations (18)
   See also Working Paper The fundamentals of safe assets, Working Paper Series (2020) View citations (23) (2020)

2019

9. Taming the global financial cycle: What role for the global financial safety net?
   Journal of International Money and Finance, 2019, 94, (C), 160-182 View citations (11)
10. What do we know about the global financial safety net? A new comprehensive data set
    Journal of International Money and Finance, 2019, 99, (C) View citations (8)
    See also Working Paper What Do We Know About the Global Financial Safety Net? A New Comprehensive Data Set, CESifo Working Paper Series (2016) View citations (10) (2016)

2018

11. Can appreciation be expansionary? Evidence from the euro area
    Economic Policy, 2018, 33, (94), 225-264 View citations (24)

2017

12. If the Fed sneezes, who catches a cold?
    Journal of International Economics, 2017, 108, (S1), S23-S41 View citations (134)
    See also Chapter If the Fed Sneezes, Who Catches a Cold?, NBER Chapters, 2016 (2016) View citations (12) (2016)
    Working Paper If the Fed sneezes, who catches a cold?, Working Paper Series (2017) View citations (151) (2017)
13. The Euler equation around the world
    The B.E. Journal of Macroeconomics, 2017, 17, (2), 9 View citations (2)
14. The real exchange rate and economic growth: Revisiting the case using external instruments
    Journal of International Money and Finance, 2017, 73, (PB), 386-398 View citations (55)
    See also Working Paper The real exchange rate and economic growth: revisiting the case using external instruments, Working Paper Series (2016) View citations (13) (2016)

2016

15. Global Exchange Rate Configurations: Do Oil Shocks Matter?
    IMF Economic Review, 2016, 64, (3), 443-470 View citations (78)
    See also Working Paper Global exchange rate configurations: Do oil shocks matter?, Working Paper Series (2012) View citations (57) (2012)
16. Trade, finance or policies: What drives the cross-border spill-over of business cycles?
    Journal of Macroeconomics, 2016, 49, (C), 131-148 View citations (16)
    See also Working Paper Trade, finance or policies: what drives the cross-border spill-over of business cycles?, Working Paper Series (2017) (2017)

2015

17. Capital Regulation in a Macroeconomic Model with Three Layers of Default
    International Journal of Central Banking, 2015, 11, (3), 9-63 View citations (192)
    See also Working Paper Capital Regulation in a Macroeconomic Model with Three Layers of Default, Working Papers (2015) View citations (194) (2015)
18. Is There a Global Safe Haven?
    International Finance, 2015, 18, (3), 281-298 View citations (28)
19. Our currency, your problem? The global effects of the euro debt crisis
    European Economic Review, 2015, 74, (C), 1-13 View citations (18)
20. Worth the hype? The effect of G20 summits on global financial markets
    Journal of International Money and Finance, 2015, 53, (C), 192-217 View citations (4)

2014

21. Financial imbalances and household welfare: Empirical evidence from the EU
    Journal of Financial Stability, 2014, 11, (C), 82-91 View citations (5)
    See also Working Paper Financial imbalances and household welfare: empirical evidence from the EU, Working Paper Series (2013) View citations (1) (2013)
22. Have the euro area and EU governance worked? Just the facts
    European Journal of Political Economy, 2014, 34, (C), 1-17 View citations (23)
23. Macroprudential capital tools: assessing their rationale and effectiveness
    Financial Stability Review, 2014, (18), 183-194 View citations (3)

2013

24. Explaining European Union Citizens’ Trust in the European Central Bank in Normal and Crisis Times
    Scandinavian Journal of Economics, 2013, 115, (3), 781-807 View citations (88)
25. HOUSING FINANCE AND MONETARY POLICY
    Journal of the European Economic Association, 2013, 11, 101-122 View citations (281)
    See also Working Paper Housing finance and monetary policy, Working Paper Series (2009) View citations (62) (2009)
26. INSIDE MONEY IN GENERAL EQUILIBRIUM: DOES IT MATTER FOR MONETARY POLICY?
    Macroeconomic Dynamics, 2013, 17, (3), 563-590 View citations (4)

2012

27. Getting beyond carry trade: What makes a safe haven currency?
    Journal of International Economics, 2012, 87, (1), 50-64 View citations (148)
    See also Working Paper Getting beyond carry trade: what makes a safe haven currency?, Working Paper Series (2011) View citations (26) (2011)
28. What does a financial shock do? First international evidence
    (Financial intermediaries, financial stability and monetary policy)
    Economic Policy, 2012, 27, (71), 407-445 View citations (39)
    See also Working Paper What does a financial shock do? First international evidence, Working Paper Series (2013) View citations (23) (2013)

2011

29. Housing, consumption and monetary policy: How different are the US and the euro area?
    Journal of Banking & Finance, 2011, 35, (11), 3019-3041 View citations (125)
    See also Working Paper Housing, consumption and monetary policy: how different are the U.S. and the euro area?, Temi di discussione (Economic working papers) (2011) View citations (124) (2011)

2009

30. Does It Pay to Have the Euro? Italy's Troubled Politics and Financial Markets under the Lira and the Euro
    International Finance, 2009, 12, (1), 1-31 View citations (6)
31. Instability and Nonlinearity in the Euro-Area Phillips Curve
    International Journal of Central Banking, 2009, 5, (2), 181-212 View citations (44)
    See also Working Paper Instability and nonlinearity in the euro area Phillips curve, Working Paper Series (2007) View citations (23) (2007)
32. The political economy under monetary union: has the euro made a difference?
    (Income distribution, political instability, and investment)
    Economic Policy, 2009, 24, (58), 307-348 View citations (19)
    See also Working Paper The political economy under monetary union: has the euro made a difference?, Working Paper Series (2008) View citations (9) (2008)

2008

33. DOES MONEY MATTER IN THE IS CURVE? THE CASE OF THE UK
    Manchester School, 2008, 76, (s1), 58-84 View citations (11)
    See also Working Paper Does money matter in the IS curve? The case of the UK, Working Paper Series (2008) View citations (12) (2008)

2007

34. A Speed Limit Monetary Policy Rule for the Euro Area
    International Finance, 2007, 10, (1), 21-41 View citations (15)
    See also Working Paper A speed limit monetary policy rule for the euro area, Working Paper Series (2006) View citations (5) (2006)
35. A persistence-weighted measure of core inflation in the Euro area
    Economic Modelling, 2007, 24, (6), 1032-1047 View citations (6)
    See also Working Paper A persistence-weighted measure of core inflation in the euro area, Working Paper Series (2008) View citations (10) (2008)
36. Myopic loss aversion, disappointment aversion, and the equity premium puzzle
    Journal of Economic Behavior & Organization, 2007, 64, (2), 250-268 View citations (11)
    See also Working Paper Myopic loss aversion, disappointment aversion, and the equity premium puzzle, Working Paper Series (2003) View citations (4) (2003)

2006

37. A NOTE ON LIQUIDITY AND REAL EQUILIBRIUM INTEREST RATES
    Macroeconomic Dynamics, 2006, 10, (3), 426-438
38. DELEGATED PORTFOLIO MANAGEMENT: A SURVEY OF THE THEORETICAL LITERATURE
    Journal of Economic Surveys, 2006, 20, (5), 823-848 View citations (39)
    See also Working Paper Delegated portfolio management: a survey of the theoretical literature, Working Paper Series (2005) View citations (20) (2005)
39. The output gap and the real interest rate gap in the euro area, 1960-2003
    Journal of Policy Modeling, 2006, 28, (7), 775-790 View citations (12)

2004

40. Behavioral finance and asset prices: Where do we stand?
    Journal of Economic Psychology, 2004, 25, (3), 373-405 View citations (37)
41. Does Liquidity Matter? Properties of a Divisia Monetary Aggregate in the Euro Area
    Oxford Bulletin of Economics and Statistics, 2004, 66, (3), 309-331 View citations (40)

2003

42. Behavioural Central Bank Loss Functions, Skewed Risks and Certainty Equivalence
    Manchester School, 2003, 71, (s1), 21-38 View citations (4)
43. The Functional Form Of The Demand For Euro Area M1
    Manchester School, 2003, 71, (2), 172-204 View citations (20)
    See also Working Paper The functional form of the demand for euro area M1, Working Paper Series (2001) View citations (16) (2001)

2000

44. An econometric analysis of the main components of M3 in the Euro area
    Review of World Economics (Weltwirtschaftliches Archiv), 2000, 136, (4), 680-701 View citations (9)

Chapters

2016

1. If the Fed Sneezes, Who Catches a Cold?
   A chapter in NBER International Seminar on Macroeconomics 2016, 2016 View citations (12)
   See also Working Paper If the Fed sneezes, who catches a cold?, European Central Bank (2017) View citations (151) (2017)
   Journal Article If the Fed sneezes, who catches a cold?, Elsevier (2017) View citations (134) (2017)