This paper discusses conditions for identification of structural shocks with external instruments in VARs, under partial invertibility. This is a very...
This paper studies the transmission of US monetary shocks across the globe by employing a high-frequency identification of policy shocks and large VAR tech...
Central banks’ decisions are a function of forecasts of macroeconomic fundamentals. Because private sector forecasts may not be aligned to central banks’ forecasts, what markets labe...
Abstract: Can discretionary increases in government spending stimulate the economy? We answer this question by taking into account both the information flow on fiscal...
Discussion Slides for Corsetti, Lafarguette, Mehl – ‘Fast Trading and the Virtue of Entropy: Evidence from the Foreign Exchange Market', prepared for the 8th Workshop on Exchange rates at Banque de France, Paris 14 December 2018.
Discussion Slides: Cieslak and Schrimpf - `Non Monetary News in Central Bank Communication', prepared for the Bank of Canada Central Bank Communications Conference, Ottawa 13-14 September 2018.
Discussion Slides: Inoue, Rossi - ‘The Effects of Conventional and Unconventional Monetary Policy on Exchange Rates’, prepared for the NBER International Seminar on Macroeconomics, Dublin 29-30 June 2018.
Policy Presentation for the policy session on `Identification, Propagation and Spillover of Domestic and International Monetary Shocks' at the XX Annual Inflation Targeting Conference at the Banco Central do Brasil, Rio de Janeiro on 25 May 20...
Discussion slides of the paper of Kevin J. Lansing (S. Francisco Fed), "Endogenous Regime Shifts in a New Keynesian Model with a Time-Varying Natural Rate of Interest", prepared for the Conference on the Applications of Behavioural Economics, and Multiple Equilibrium M...
Abstract: Can discretionary increases in government spending stimulate the economy? We answer this question by taking into account both the information flow on fiscal measures and the role played by information frictions. Using a novel set...
