Leonardo Melosi
Professor of Economics
University of Warwick
Home Publications Working Papers CV
Publications
“Unusual Shocks in our Usual Models” with F.Ferroni and J.Fisher - Journal of Monetary Economics, accepted with minor revisions.
“A Fiscal Theory of Persistent Inflation” with F.Bianchi and R.Faccini, Quarterly Journal of Economics, Volume 138, Issue 4, November 2023, Pages 2127–2179.
“Job-To-Job Mobility and Inflation” with R.Faccini, Review of Economics and Statistics, accepted.
Media Coverage: Brookings, MarketPlace, Reuters, WSJ.
“Pandemic Recessions and Contact Tracing” with M.Rottner, Journal of the European Economic Association, forthcoming.
“Inflation as a Fiscal Limit” with F.Bianchi, 2022 Jackson Hole Symposium Volume, forthcoming. SSRN
“Hitting the Elusive Inflation Target” with F.Bianchi and M.Rottner, Journal of Monetary Economics, 2021, Volume 124, p. 107-122. Code.
Media Coverage: Brookings, Reuters, Chicago FRB President Evans.
“Pigouvian Cycles" with R.Faccini, American Economic Journal: Macroeconomics, 2022, Volume 14(2), p. 281-318.
“The Limits of Forward Guidance” with J.R.Campbell, F.Ferroni, and J.D.M. Fisher, Journal of Monetary Economics, 2019, Volume 108, p. 118-134
“Fiscal Stimulus with Learning by Doing” with A.D’Alessandro and G.Fella, International Economic Review, 2019, Volume 60(3), p. 1413-1432
“The Dire Effects of the Lack of Fiscal and Monetary Coordination” with F.Bianchi, Journal of Monetary Economics, Volume 104, 2019, pp.1-22
“Escaping the Great Recession” with Francesco Bianchi, American Economic Review, Volume 107(4), 2017, p. 1030-1058
“Constrained Discretion and Central Bank Transparency” with Francesco Bianchi, Review of Economics and Statistics, 2018, Vol 100(1), p. 187-202
“Signaling Effects of Monetary Policy”; Review of Economic Studies, Volume 84(2), 2017, p. 853-884
“Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis” with Jeffrey R. Campbell, Jonas D.M. Fisher, and Alejandro Justiniano; NBER Macroeconomics Annual 2016, 2017(31), p. 283-357.
“Modeling the Evolution of Expectations and Uncertainty in General Equilibrium” with Francesco Bianchi, International Economic Review, Volume 57(2), 2016, p. 717-756
“The Natural Rate of Interest and Its Usefulness for Monetary Policy” with Robert Barsky and Alejandro Justiniano, American Economic Review P&P, Volume 104(5), 2014, p. 37-43
“Estimating Models with Dispersed Information”, American Economic Journal: Macroeconomics, Volume 6(1), 2014, p. 1-31
“Dormant Shocks and Fiscal Virtue” with Francesco Bianchi, NBER Macroeconomics Annual 2013, Volume 28, 2014, p. 1-46
“Methods for Computing Marginal Data Densities from the Gibbs Output” with Cristina Fuentes Albero, Journal of Econometrics, Volume 175, Issue 2, 2013, p. 132–141
Other Publications
“How Tight is U.S. Monetary Policy?”, with F.Ferroni and J.Fisher, Chicago Fed Letters, March, 2023.
“The Effects of the Great Resignation on Labor Market Slack and Inflation”, with R.Faccini and R.Miles, Chicago Fed Letters, February, 2022.
Media Coverage: MarketPlace, Reuters, WSJ.
“Comments on Epidemics in New Keynesian Models by Eichenbaum, Rebelo, and Trabandt”, Journal of Economic Dynamics and Control Covid-19 Special Issue, forthcoming .
“The Role of Contact Tracing in the Long Pandemic War”, with M.Rottner, SUERF Policy Brief, n. 242, December 2021.
“Some Inflation Scenarios for the American Rescue Plan Act of 2021”, with F.Bianchi and J.Fisher, Chicago Fed Letter, 453, April 2021.
“Strengthening the FOMC's Framework in View of the Effective Lower Bound and Some Considerations Related to Time-Inconsistent Strategies” with Fernando Duarte, Benjamin K. Johannsen, and Taisuke Nakata, Finance and Economics Discussion Series, August 27, 2020, Board of governors.
“How to Pay for the (Pandemic) War”, with F.Bianchi and R.Faccini, VOX EU article, 13 May 2020.
“The Macroeconomic Effects of the 2018 Bipartisan Budget Act” with J.R.Campbell, F.Ferroni, and J.D.M. Fisher, Economic Perspectives, Vol 43(2), 2019, Federal Reserve Bank of Chicago.
“The Event-Study Activity Puzzle” with Jeffrey R. Campbell, Jonas D.M. Fisher, and Alejandro Justiniano, Economic Perspectives, Vol 41(3), 2017, , Federal Reserve Bank of Chicago.
“The Value of Forward Looking Communication” with Francesco Bianchi, in Forward Guidance: Perspectives from Central Bankers, Scholars, and Market Participants, ed. Wouter den Haan, p. 115-121, VoxEU.org Ebook, London, October 2013
“Comments on "Global House Price Fluctuations: Synchronization and Determinants", NBER International Seminar on Macroeconomics 2012, 2012, Pages 174-179
Leonardo Melosi
Senior Economist and Economic Advisor
Federal Reserve Bank of Chicago