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

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

Asriyan, V.,

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


Forthcoming in The Review of Economic Studies, 2021

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

"On Public Spending and Economic Unions"


Forthcoming in IMF Economic Review, 2021

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

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

"Monetary Policy for a Bubbly World"


Forthcoming in The Review of Economic Studies, 2021

Published in Journal of Monetary Economics, 115, 2020, 162-179. Open Access.
Previously circulated as ‘Local Versus Aggregate Lending Channels: The Effects of Securitization on Corporate Credit Supply in Spain’
This is an open access article distributed under the terms of the Creative Commons CC BY license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. You are not required to obtain permission to reuse this article.
Outreach: VoxEU 2018 and 2018 · Federal Reserve Bank of Richmond Economic Quarterly 101(4) (2015) · IMF Global Financial Stability Report: Transition Challenges to Stability (2013) · Speech by J.M. González Páramo, Executive Board Member of the ECB (2011) 

Latest News

Board of trustees:

Partnerships: