Publications
Publications
The effects of monetary policy on macroeconomic risk (forthcoming), European Economic Review (Mario Forni, Luca Gambetti, Nicolò Maffei-Faccioli and Luca Sala).
Downside and upside uncertainty shocks (forthcoming), Journal of the European Economic Association (Mario Forni, Luca Gambetti and Luca Sala).
Macroeconomic uncertainty and vector autoregressions (forthcoming), Econometrics and Statistics (Mario Forni, Luca Gambetti and Luca Sala).
Nonlinear transmission of financial shocks: some new evidence (forthcoming), Journal of Money, Credit and Banking (Mario Forni, Luca Gambetti, Nicolò Maffei-Faccioli and Luca Sala).
Real interest rates and productivity in small open economies (forthcoming), Journal of International Economics (Tommaso Monacelli, Luca Sala and Daniele Siena).
Asymmetric effects of news through uncertainty (forthcoming), Macroeconomic Dynamics (Mario Forni, Luca Gambetti and Luca Sala).
Structural VARs and non-invertible macroeconomic models (2019), Journal of Applied Econometrics, vol. 34(2), pp. 221-246 (Mario Forni, Luca Gambetti and Luca Sala), previously circulated as: "Reassessing structural VARs: beyond the ABCs (and Ds)" and "VAR information and the empirical validation of DSGE models"
Noisy news in business cycles (2017), American Economic Journals: Macroeconomics, vol. 9(4), pp. 122-152 (Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala). Appendix
Noise bubbles (2017), The Economic Journal, vol. 127(604), pp. 1940-1976 (Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala)
DSGE models in the frequency domain (2015), Journal of Applied Econometrics, vol. 30(2), pp. 219-240. Appendix
No news in business cycles (2014), The Economic Journal, vol. 124 (581), pp. 1168-1191 (Mario Forni, Luca Gambetti and Luca Sala).
Structural and cyclical forces in the labor market during the Great Recession: cross-country evidence (2012), NBER International Seminar on Macroeconomics, Francesco Giavazzi and Kenneth West (editor), The University of Chicago Press (Luca Sala, Ulf Soderstrom and Antonella Trigari).
Term structure forecasting: No-arbitrage restrictions vs. large information set (2012), Journal of Forecasting, Volume 31, Issue 2, pp. 124-156 (Carlo Favero, Linlin Niu and Luca Sala).
Back to square one: identification issues in DSGE models (lead article) (2009), Journal of Monetary Economics, Volume 56, Issue 4, pp. 431-449 (Fabio Canova and Luca Sala).
The international dimension of inflation: evidence from disaggregated consumer price data (2009), Journal of Money, Credit and Banking 41, s1(02), pp. 101-120 (Tommaso Monacelli and Luca Sala)
An estimated monetary DSGE model with unemployment and staggered nominal wage bargaining (2008), Journal of Money, Credit and Banking, 40-8, pp. 1713-1764 (Mark Gertler, Luca Sala and Antonella Trigari).
Monetary policy under uncertainty in an estimated model with labor market frictions (2008), Journal of Monetary Economics, vol. 55(5), pp. 983-1006 (Luca Sala, Ulf Soderstrom and Antonella Trigari).
VARs, common factors and the empirical validation of equilibrium business cycle models (2006), Journal of Econometrics, vol. 127(1), pp. 257-279. (Domenico Giannone, Lucrezia Reichlin and Luca Sala)
Monetary policy in real time (2004), NBER Macroeconomics Annual, Mark Gertler and Ken Rogoff editors. MIT Press (Domenico Giannone, Lucrezia Reichlin and Luca Sala)
Summary of "La trasmissione della politica monetaria nell'unione monetaria europea: un'analisi fattoriale", Rivista Italiana degli Economisti, pp. 174-177. Awarded as "Best Italian Tesi di Dottorato" 2001.