Recent Publications

Nagy, D., B. Conte, K. Desmet and E. Rossi-Hansberg,

"Local Sectoral Specialization in a Warming World"


Forthcoming in Journal of Economic Geography, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Rossi, B.,

"Identifying and Estimating the Effects of Unconventional Monetary Policy in the Data: How to Do It And What Have We Learned?"


Forthcoming in The Econometrics Journal, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

G. Ganics, A. Inoue and B. Rossi,

"Confidence Intervals for Bias and Size Distortions in IV and Local Projections-IV Models"


Journal of Business and Economic Statistics, 2021, 39 (1), 307-324

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Asriyan, V., W. Fuchs and B. Green,

"Aggregation and Design of Information in Asset Markets with Adverse Selection"


Forthcoming in Journal of Economic Theory, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Asriyan, V.,

"Balance Sheet Channel with Information-Trading Frictions in Secondary Markets"


Forthcoming in The Review of Economic Studies, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Nagy, D., K. Desmet, R. Kopp, S. Kulp, M. Oppenheimer, E. Rossi-Hansberg and B. Strauss,

"Evaluating the Economic Cost of Coastal Flooding"


Forthcoming in American Economic Journal: Macroeconomics, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Broner, F., A. Martin and J. Ventura,

"On Public Spending and Economic Unions"


Forthcoming in IMF Economic Review, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Debortoli, D.,

"Comments on “Boosting Fiscal Space: The Roles of GDP-Linked Debt and Longer Maturities” by J. I. Kim and J. D. Ostry"


Forthcoming in Economic Policy, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

R. Barnichon, D. Debortoli and C. Matthes,

"Understanding the Size of the Government Spending Multiplier: It’s in the Sign"


Forthcoming in The Review of Economic Studies, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

Asriyan, V., L. Fornaro, A. Martin and J. Ventura,

"Monetary Policy for a Bubbly World"


Forthcoming in The Review of Economic Studies, 2021

Previously circulated as ‘Negative Monetary Policy Rates and Portfolio Rebalancing: Evidence from Credit Register Data’.

Outreach: CentralBanking.com (2020) · Keynote speeches by Philip R. Lane (ECB Executive Board) Berlin and New York (2020) & Helsinki and London (2019) · ECB Economic Bulletin no. 3 (2020) · IMF Global Financial Stability Report: Markets in the Time of COVID-19 (2020) · IMF World Economic Outlook report (2020) · Danmarks Nationalbank, Analysis: Positive pass-through from negative rates no. 5 (2020) · CEPR book The Bank Business Model in the Post-Covid-19 World (2020) · VoxEU posts August and April 2020 · 2019 · Speech by Boštjan Vasle Governor of the Bank of Slovenia (2019)

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