Recent Publications

Fornaro, L. and F. Romei,

"Monetary Cooperation during Global Inflation Surges"


Forthcoming in American Economic Review, 2025

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

Fornaro, L.,

"Fiscal Stimulus with Supply Constraints"


Forthcoming in IMF Economic Review, 2025

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

Mathieu Taschereau-Dumouchel and E. Schaal,

"Coordinating Business Cycles"


Journal of Monetary Economics, 2025, article 103829

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

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

"Monetary Policy and Endogenous Financial Crises"


Forthcoming in The Review of Economic Studies, 2025

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

Debortoli, D. and J. Galí,

"Heterogeneity and Aggregate Fluctuations: Insights from TANK Models"


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

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

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

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

Fornaro, L. and F. Romei,

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


2025, 378–389

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"


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

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

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

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

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

"The Global Financial Resource Curse"


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

revised February 2012

Published in L. Céspedes, J. Galí (eds.) Fiscal Policy and Macroeconomic Performance, Series on Central Banking Analysis and Economic Polices, Santiago: Central Bank of Chile, vol. 17, 2013

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