Publications
The International Spillovers of Synchronous Monetary Tightening, 2023
Journal of Monetary Economics, forthcoming, with F. Ferrante, M. Iacoviello, A. Prestipino, and A. Queralto
Measuring Geopolitical Risk, April 2022
American Economic Review, 112 (4), pp. 1194–1225 with M. Iacoviello
Companion webpage with regularly updated data, replication codes, and additional material.
Selected coverage and usage of the GPR Index: Bank of England, ECB, IMF, World Bank, Die Welt, FT, Reuters.
Working paper version IFDP-1222-R1.
Monetary Policy and Economic Performance since the Financial Crisis, 2021
Review, Federal Reserve Bank of St. Louis, 103 (4), pp. 425-60, with E. Gagnon, E. Martinez-Garcia, and C. J. Neely
The analysis in this paper was presented to the Federal Open Market Committee as background for its discussion of the Federal Reserve’s review of monetary policy strategy, tools, and communication practices. The Committee discussed issues related to the review at five consecutive meetings from July 2019 to January 2020.
Speech by Chair Powell at the Jackson Hole economic policy symposium.
The Economic Effects of Trade Policy Uncertainty, 2020
Journal of Monetary Economics, 103, pp. 38-59 , with M. Iacoviello, P. Molligo, A. Prestipino, A. Raffo
Additional Material available here; Download our data here.
Check out our TPU website. Media coverage (visit website for full coverage): WSJ Editorial, Foreign Affairs, NYT, WaPo.
Oil Price Elasticities and Oil Price Fluctuations, 2019
Journal of Monetary Economics, 103, pp. 1-20 , with M. Iacoviello and M. Cavallo
Appendix here.
[Replication Codes for IV regressions and oil supply shocks data in Figure 4 here]
[Replication Codes for VAR and other Figures here]
The Systematic Component of Monetary Policy in SVARs: An Agnostic Identification Procedure, 2019
Journal of Monetary Economics, 101, pp. 1-13 , with J. Arias and J. Rubio-Ramirez
Monetary Policy, Real Activity, and Credit Spreads: Evidence from Bayesian Proxy SVAR, 2018
American Economic Journal: Macroeconomics 11 (1), pp. 157-192 , with E. Herbst
The Analytics of SVARs: A Unified Framework to Measure Fiscal Multipliers, 2017
Review of Economic Studies 84 (3), pp. 1015-1040, with C. Kamps
The Macroeconomic Impact of Financial and Uncertainty Shocks, 2016
European Economic Review 88, pp. 185–207, with C. Fuentes Albero, S. Gilchrist and E. Zakrajsek
Most cited EER article since 2016 according to Scopus.
Practical Tools for Policy Analysis in DSGE Models with Missing Channels, 2014
Journal of Applied Econometrics 29, pp. 1145-1163, with R. Harrison and A. Lipinska
Computing DSGE Models with Recursive Preferences and Stochastic Volatility, 2012
Review of Economic Dynamics 15, pp. 188-206, with J. Fernandez-Villaverde, J. Rubio-Ramirez, and W. Yao