Discussion Papers

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2112: Fiscal foresight and the effects of government spending: It’s all in the monetary-fiscal mix

Guido Ascari, Peder Beck-Friis, Anna Florio and Alessandro Gobbi

2111: The constraint on public debt when r

Ricardo Reis

2110: Measured Productivity with Endogenous Markups and Economic Profits

Anthony Savagar

2109: Short-squeeze bubbles

Bernardo Guimaraes and Pierluca Pannella

2108: Imperfect Information, Heterogeneous Demand Shocks, and Inflation Dynamics

Tatsushi Okuda, Tomohiro Tsuruga and Francesco Zanetti

2107: A Ramsey Theory of Financial Distortions

Marco Bassetto and Wei Cui

2106: The Contrarian Put

Fernando Chague, Bruno Giovannetti and Bernardo Guimaraes

2105: The “Matthew Effect” and Market Concentration: Search Complementarities and Monopsony Power

Jesus Fernandez-Villaverde, Federico Mandelman, Yang Yu and Francesco Zanetti

2104: The Limits of onetary Economics: On Money as a Latent Medium of Exchange

Ricardo Lagos and Shengxing Zhang

2103: The Puzzling Change In The International Transmission Of U.S. Macroeconomic Policy Shocks

Ethan Ilzetzki and Keyu Jin

2102: Monetary Policy, Firm Heterogeneity, and Product Variety

Masashige Hamano and Francesco Zanetti

2101: Economic Growth in a Cooperative Economy

Thomas Brzustowski and Francesco Caselli

2033: The People versus the Markets: A Parsimonious Model of Inflation Expectations

Ricardo Reis

2032: Informed Trading and the Dynamics of Client-Dealer Connections in Corporate Bond Markets

Robert Czech and Gabor Pinter

2031: Credit Frictions in the Great Recession

Patrick Kehoe, Pierlauro Lopez, Virgiliu Midrigan and Elena Pastorino

2030: COVID19: Erroneous Modelling and Its Policy Implications

Yinon Bar-On, Tatiana Baron, Ofer Cornfeld, Ron Milo and Eran Yashiv

2029: An Analytical Model of Covid-19 Lockdowns

Łukasz Rachel

2028: Downward Rigidity in the Wage for New Hires

Jonathon Hazell and Bledi Taska

2027: News Shocks under Financial Frictions

Christoph Görtz, John Tsoukalas and Francesco Zanetti

2026: A Multisector Perspective on Wage Stagnation

L. Rachel Ngai and Orhun Sevinc

2025: The Economic Impact of Recession Announcements

Andrew Eggers, Martin Ellison and Sang Seok Lee

2024: Monetary policy surprises and their transmission through term premia and expected interest rates

Iryna Kaminska, Haroon Mumtaz and Roman Sustek

2023: Productive Robots and Industrial Employment: The role of national innovation systems

Chrystalla Kapetaniou and Christopher Pissarides

2022: Why Is The Euro Punching Below Its Weight?

Ethan Ilzetzki, Carmen Reinhart and Kenneth Rogoff

2021: On the costs of sovereign default in quantitative models

Bernardo Guimaraes and Lucas Tumkas

2020: Monetary Policy and Sentiment-Driven Fluctuations

Jenny Chan

2019: Debt crises, fast and slow

Giancarlo Corsetti and Fred Seunghyun Maeng

2018: A century of arbitrage and disaster risk pricing in the foreign exchange market

Giancarlo Corsetti and Emile Marin

2017: The Macroeconomic Stabilization of Tariff Shocks: What is the Optimal Monetary Response?

Paul Bergin and Giancarlo Corsetti

2016: Social Distancing and Supply Disruptions in a Pandemic

Martin Bodenstein, Giancarlo Corsetti and Luca Guerrieri

2015: Jumpstarting an International Currency

Saleem Bahaj and Ricardo Reis

2014: The Ins and Outs of Unemployment in General Equilibrium

Nikolaos Kokonas and Paulo Santos Monteiro

2013: The Effect of Social Distancing on the Reach of an Epidemic in Social Networks

Gregory Gutin, Tomohiro Hirano, Sung-Ha Hwang, Philip Neary and Alexis Akira Toda

2012: Recurrent Bubbles and Economic Growth

Pablo Guerron, Tomohiro Hirano and Ryo Jinnai

2011: Volatile Hiring: Uncertainty in Search and Matching Models

Wouter Den Haan, Lukas Freund and Pontus Rendahl

2010: Moving from a Poor Economy to a Rich One: The Contradictory Roles of Technology and Job Tasks

Eran Yashiv

2009: The Elusive Gains from Nationally-Oriented Monetary Policy

Martin Bodenstein, Giancarlo Corsetti and Luca Guerrieri

2008: Exchange Rate Misalignment and External Imbalances: What is the Optimal Monetary Policy Response?

Giancarlo Corsetti, Luca Dedola and Sylvain Leduc

2007: Financial constraints and collateral crises

Luis Araujo, Bernardo Guimaraes and Diego de Sousa Rodrigues

2006: Output Costs of Education and Skill Mismatch

Pietro Garibaldi, Pedro Gomes and Thepthida Sopraseuth

2005: Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity

Gareth Anderson and Ambrogio Cesa-Bianchi

2004: Global Footprints of Monetary Policy

Silvia Miranda-Agrippino, Tsvetelina Nenova and Helene Rey

2003: Shocks, Frictions, and Inequality in US Business Cycles

Christian Bayer, Benjamin Born and Ralph Luetticke

2002: Measuring Productivity: theory and British practice

Nicholas Oulton

2001: Public Employment Redux

Pietro Garibaldi, Pedro Gomes and Thepthida Sopraseuth

1922: Mortgage Cash-flows and Employment

Fergus Cumming

1921: News Uncertainty in Brexit U.K

Renato Faccini and Edoardo Palombo

1920: MoNK: Mortgages in a New-Keynesian Model

Carlos Carriga, Finn Kydland and Roman Sustek

1919: Labour market flows: Accounting for the public sector

Idriss Fontaine, Ismael Galvez-Iniesta, Pedro Gomes and Diego Vila-Martin

1918: Imperfect Information, Shock Heterogeneity, and Inflation Dynamics

Tatsushi Okuda, Tomohiro Tsuruga and Francesco Zanetti