Recent Publications

Fornaro, L. and F. Romei,

"Monetary Cooperation during Global Inflation Surges"


Forthcoming in American Economic Review, 2025

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

Fornaro, L.,

"Fiscal Stimulus with Supply Constraints"


Forthcoming in IMF Economic Review, 2025

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

Mathieu Taschereau-Dumouchel and E. Schaal,

"Coordinating Business Cycles"


Journal of Monetary Economics, 2025, article 103829

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

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

"Monetary Policy and Endogenous Financial Crises"


Forthcoming in The Review of Economic Studies, 2025

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

Debortoli, D. and J. Galí,

"Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"


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

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

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

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

Fornaro, L. and F. Romei,

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


2025, 378–389

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"


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

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

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

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

G. Benigno, L. Fornaro and M. Wolf,

"The Global Financial Resource Curse"


American Economic Review, 2025, 115 (1), 220-262

Previously circulated as “Asymmetric Effects of Monetary Policy Easing and Tightening”

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