Recent Publications

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

"The Global Financial Resource Curse"


Forthcoming in American Economic Review, 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

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

Ponzetto, G. and U. Troiano,

"Social Capital, Government Expenditures, and Growth"


Forthcoming in Journal of the European Economic Association, 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

Asriyan, V. and V. Vanasco,

"Security Design in Non-Exclusive Markets with Asymmetric Information"


The Review of Economic Studies, 2024, 91/2, 690–719

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

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

"All Aboard: The Effects of Port Development"


Forthcoming in Journal of International Economics, 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

Galí, J., R. Billi and A. Nakov,

"Optimal Monetary Policy with r*< 0"


Journal of Monetary Economics, 2024, 142, article 103518

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

Jeenas, P. and R. Lagos,

"Q-Monetary Transmission"


Journal of Political Economy, 2024, 132 (3), 971-1012

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

J. Díaz-Saavedra, R. Marimon and J. Brogueira de Sousa,

"A Worker’s Backpack as Alternative to the Spanish PAYG Pension System"


Journal of the European Economic Association, 2023, 21 (5), 1944-1993

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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