Recent Publications

Fornaro, L.,

"A Theory of Monetary Union and Financial Integration"


Forthcoming in The Review of Economic Studies, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

Debortoli, D., R. Nunes and P. Yared,

"Optimal Fiscal Policy without Commitment: Revisiting Lucas-Stokey"


Journal of Political Economy, 2021, 129(5), 1640-1665

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

Debortoli, D.,

"Comment on “Redesigning EU Fiscal Rules: From Rules to Standards” by O. Blanchard, A. Leandro and J. Zettelmeyer"


Forthcoming in Economic Policy, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

Martin, A., F. Broner, D. Clancy and A. Erce,

"Fiscal Multipliers and Foreign Holdings of Public Debt"


Forthcoming in The Review of Economic Studies, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

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 “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

Galí, J., P. Andrade, H. Le Bihan and J. Matheron,

"Should the ECB Adjust its Strategy in the Face of a Lower r*?"


Forthcoming in Journal of Economic Dynamics and Control, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

Nagy, D.,

"Quantitative Economic Geography meets History: Questions, Answers and Challenges"


Forthcoming in Regional Science and Urban Economics, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

di Giovanni, J., S. Kalemi-Özcan, M. Ulu and Y.S. Baskaya,

"International Spillovers and Local Credit Cycles"


Forthcoming in The Review of Economic Studies, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

Schaal, E., P. Fajgelbaum, A. Khandelwal, W. Kim and C. Mantovani,

"Optimal Lockdown in a Commuting Network"


Forthcoming in American Economic Review: Insights, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

Asriyan, V., L. Laeven and A. Martin,

"Collateral Booms and Information Depletion"


Forthcoming in The Review of Economic Studies, 2021

Previously circulated as “The Effects of Conventional and Unconventional Monetary Policy: A New Approach”

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