Recent Publications

Fornaro, L. and F. Romei,

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


Forthcoming in 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

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"


Forthcoming in American Economic Association: Papers & Proceedings, 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

A. Abraham, E. Cárceles, R. Marimon and Y. Liu,

"On the Optimal Design of a Financial Stability Fund"


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

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

"The Global Financial Resource Curse"


American Economic Review, 2024, 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

L. Althoff and H. Reichardt,

"Jim Crow and Black Economic Progress After Slavery"


Quarterly Journal of Economics, 2024, 139 (4), 2279-2330

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

Galí, J. and D. Debortoli,

"Idiosyncratic Income Risk and Aggregate Fluctuations"


American Economic Journal: Macroeconomics, 2024, 16(4), 279–310

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

Nagy, D., C. Ducruet, R. Juhász and C. Steinwender,

"All Aboard: The Effects of Port Development"


Journal of International Economics, 2024, Volume 151, 103963

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"


Forthcoming in The Review of Economic Studies, 2024

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

Baley, I., Lars Ljungqvist and Thomas J. Sargent,

"Returns to labour mobility"


The Economic Journal, 2024, 135, 430–454

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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