working papers
A structural model of asymmetric lumpy investment (with A. Oskolkov) [ paper ]
November 2023
Publications
Price setting with strategic complementarities as a mean field game (with F. Alvarez and T. Souganidis )
[ paper (inclusive of technical appendix) ] [slides] [ published version ]
Econometrica , November 2023
Inflation and misallocation in New Keynesian models (with A. Cavallo, K. Miyahara)
[ paper ] [slides], prepared for the 2023 ECB Forum on central banking , youtube presentation
June 2023
The Analytic Theory of a Monetary Shock (with F. Alvarez)
[Paper] [Appendix] [Extension: multiproduct model ] [Slides]
Econometrica , 2022
The Macroeconomics of Sticky Prices with Generalized Hazard Functions (with F. Alvarez and A. Oskolkov)
[ Paper and Appendix ] [ Online Appendix ] [ Slides ]
Quarterly Journal of Economics , 2022
A Simple Planning Problem for COVID-19 Lockdown, Testing and Tracing (with F. Alvarez and D. Argente)
[ paper] [ Slides ] [ codes_and_readme_zip ]
American Economic Review: Insights , September 2021
The Fiscal Arithmetic of a Dual Currency Regime
[ Paper ]
Journal of Money Credit and Banking , February 2021
Temporary price changes, inflation regimes, and the propagation of monetary shocks (with F. Alvarez)
[Paper] [Online Appendix] [Slides]
American Economic Journal: Macroeconomics, 2020
Cost of inflation in inventory theoretical models (with F. Alvarez and R. Robatto)
[Paper]
Review of Economic Dynamics, 2019
The real effects of monetary shocks in sticky price models: a sufficient statistic approach (with F. Alvarez and H. Le Bihan)
[Paper] [Technical Appendix] [Slides]
American Economic Review , 2016
Optimal monetary policy with heterogenous money holdings (with S. Ragni and N. Trachter)
[Paper] [Online Appendix ] [Slides]
Journal of Economic Theory, 2015
Price setting with menu cost for multi-product firms (with F. Alvarez)
[Paper] [Technical Appendix] [Slides]
Econometrica , 2014
Durable consumption and asset management with transaction and observation cost (with F. Alvarez and L. Guiso)
[Paper] [Online Appendix] [Slides]
American Economic Review , 2012
Oil and the macroeconomy: A quantitative structural analysis (with A. Nobili)
[Paper] [Date & Online Appendix]
Journal of the European Economic Association , 2012
Optimal price setting with observation and menu costs (with F. Alvarez and L. Paciello)
[Paper] [ Online Appendix] [Slides]
Quarterly Journal of Economics , 2011
Financial innovation and the transactions demand for cash (with F. Alvarez)
[Paper] [ Online Appendix] [Slides]
Econometrica, 2009
Technological change and the households' demand for currency (with A. Secchi)
[Paper]
Journal of Monetary Economics, 2009
Information variables for monetary policy in an estimated structural model of the euro area (with S. Neri)
[Paper]
Journal of Monetary Economics, 2007
Did prices really soar after the euro cash changeover? (with P. Angelini)
International Journal of Central Banking , 2007
The monetary transmission mechanism: evidence from the industries of five OECD countries (with L. Dedola)
[Paper]
European Economic Review, 2005
Endogenous monetary policy with unobserved potential output (with A. Cukierman)
[Paper]
Journal of Economic Dynamics and Control, 2005
Pricing behavior and the introduction of the euro: evidence from a panel of restaurants (with E. Gaiotti)
[Paper]
Giornale degli Economisti, 2004
Labor Markets and Monetary Union: A Strategic Analysis (with A. Cukierman)
[Paper]
Economic Journal , 2001
Median Voter Preferences, Central Bank Independence and Conservatism
Public Choice, 2000
Central Bank Independence, Centralization of Wage Bargaining, Inflation and unemployment - Theory and Some Evidence (with A. Cukierman)
[Paper]
European Economic Review, 1999
Rational voters, elections and central banks: do representative democracies need non representative institutions? (with O. Swank)
Journal of Policy Modeling, 1999
On Central Bank Independence and the Stability of Policy Targets
Scandinavian Journal of Economics, 1998
Do Policymakers Distributional Desires Lead to an Inflationary Bias? (with O. Swank)
Journal of Policy Modeling, 1996