Recent Publications

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

"Nonlinear Monetary Policy Tradeoffs"


Forthcoming in The Economic Journal, 2025

Previously circulated as “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

Fornaro, L. and F. Romei,

"Monetary Cooperation during Global Inflation Surges"


Forthcoming in American Economic Review, 2025

Previously circulated as “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

Fornaro, L.,

"Fiscal Stimulus with Supply Constraints"


Forthcoming in IMF Economic Review, 2025

Previously circulated as “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

Mathieu Taschereau-Dumouchel and E. Schaal,

"Coordinating Business Cycles"


Journal of Monetary Economics, 2025, article 103829

Previously circulated as “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

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 “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

Debortoli, D. and J. Galí,

"Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"


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

Previously circulated as “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

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 “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

Fornaro, L. and F. Romei,

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


2025, 378–389

Previously circulated as “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

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 “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

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 “Falling Interest Rates and Credit Misallocation: Lessons from General Equilibrium”

Published in The Review of Economic Studies, 2024, 1-31

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