CREI – Centre de Recerca en Economia Internacional

Recent Publications

Debortoli, D., M. Forni, L. Gambetti and L. Sala,

"Nonlinear Monetary Policy Tradeoffs"

Forthcoming in The Economic Journal, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Fornaro, L. and F. Romei,

"Monetary Cooperation during Global Inflation Surges"

Forthcoming in American Economic Review, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Fornaro, L.,

"Fiscal Stimulus with Supply Constraints"

Forthcoming in IMF Economic Review, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Mathieu Taschereau-Dumouchel and E. Schaal,

"Coordinating Business Cycles"

Journal of Monetary Economics, 2025, article 103829

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

F. Boissay, F. Collard, J. Galí and C. Manea,

"Monetary Policy and Endogenous Financial Crises"

Forthcoming in The Review of Economic Studies, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Debortoli, D. and J. Galí,

"Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"

NBER Macroeconomics Annual, 2025, 39 (1), 307-357

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Asriyan, V., L. Laeven, A. Martin, A. Van der Ghote and V. Vanasco,

"Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium"

The Review of Economic Studies, 2025, 92 (4), 2197-2227

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Fornaro, L. and F. Romei,

"An International Perspective on Inflation during the Covid-19 Recovery"

2025, 378–389

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"

Journal of the European Economic Association, 2025, 23 (2), 632-681

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Broner, F., A. Martin, C. Trebesch, J. Meyer and J. Zhou Wu,

"Hegemony and International Alignment"

American Economic Association: Papers & Proceedings, 2025, 115, 593-598

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Latest News

Vladimir Asriyan an ERC Consolidator Grant for his project “Firms, Frictions and de Macroeconomy, MACFRIC”

09/12/2025

L. Fornaro and M. Á. González-Simón on: “How Fiscal Choices and Trade Strategy Shape Europe’s Productivity”, FUNCAS Europe Podcast, # 87.

28/11/2025

Davide Debortoli y Valeria Gargiulo presentan MEGAIReF, el nuevo modelo macroeconómico para la AIReF. (La Vanguardia)

23/10/2025

Alberto Martin: Existeix el miracle Milei? Com afecta la motoserra la macroeconomia i el dia a dia dels argentins (3cat)

14/10/2025

Shortcuts

Upcoming Events

15 Dec

CREI-UPF Macroeconomics Seminar

Alessandra Peter (NYU)
“IneQuality” (with G. Bornstein)
23 Feb

CREI-UPF Macroeconomics Seminar

Federico Kochen (CEMFI)
TBC
05 Mar

CREI-UPF Macroeconomics Seminar

-THURSDAY-
Borogan Arouba (University of Maryland)
TBC

View full calendar

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Recent Publications

"Nonlinear Monetary Policy Tradeoffs"

Forthcoming in The Economic Journal, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Monetary Cooperation during Global Inflation Surges"

Forthcoming in American Economic Review, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Fiscal Stimulus with Supply Constraints"

Forthcoming in IMF Economic Review, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Coordinating Business Cycles"

Journal of Monetary Economics, 2025, article 103829

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Monetary Policy and Endogenous Financial Crises"

Forthcoming in The Review of Economic Studies, 2025

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"

NBER Macroeconomics Annual, 2025, 39 (1), 307-357

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Falling Interest Rates and Credit Reallocation: Lessons from General Equilibrium"

The Review of Economic Studies, 2025, 92 (4), 2197-2227

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"An International Perspective on Inflation during the Covid-19 Recovery"

2025, 378–389

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Social Capital, Government Expenditures, and Growth"

Journal of the European Economic Association, 2025, 23 (2), 632-681

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

"Hegemony and International Alignment"

American Economic Association: Papers & Proceedings, 2025, 115, 593-598

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice. Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Latest News

Vladimir Asriyan an ERC Consolidator Grant for his project “Firms, Frictions and de Macroeconomy, MACFRIC”

L. Fornaro and M. Á. González-Simón on: “How Fiscal Choices and Trade Strategy Shape Europe’s Productivity”, FUNCAS Europe Podcast, # 87.

Davide Debortoli y Valeria Gargiulo presentan MEGAIReF, el nuevo modelo macroeconómico para la AIReF. (La Vanguardia)

Alberto Martin: Existeix el miracle Milei? Com afecta la motoserra la macroeconomia i el dia a dia dels argentins (3cat)

Shortcuts

Upcoming Events

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Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)

Published in Economic Policy, 35 (102), 2020, 213-267. DOI. Repository. Editor’s choice.
Summaries: VoxEU column (2020) · LSE Business Review (2020) · Imperial Business School, IB Knowledge newsletter (2020) · Institute for New Economic Thinking (2016)