Research | giovanni-ricco

Publications

Lucrezia Reichlin, Klaus Adam, Warwick J. McKibbin, Michael McMahon, Ricardo Reis, Giovanni Ricco and Beatrice Weder di Mauro, The ECB strategy: The 2021 review and its future, CEPR Report
Thomas Hasenzagl, Filippo Pellegrino, Lucrezia Reichlin, Giovanni Ricco, A Model of the Fed’s View on Inflation, The Review of Economics and Statistics (forthcoming)
Mikkel Plagborg-Møller, Lucrezia Reichlin, Giovanni Ricco, Thomas Hasenzagl, When is growth at risk?, Brookings Papers on Economic Activity, Spring 2020
Silvia Miranda-Agrippino, Giovanni Ricco, The Transmission of Monetary Policy Shocks, American Economic Journal: Macroeconomics, 13 (3): 74-107. doi: 10.1257/mac.20180124
Alberto Caruso, Lucrezia Reichlin, Giovanni Ricco, Financial and Fiscal Interaction in the Euro Area Crisis: This Time was Different, European Economic Review Volume 119, October 2019, Pages 333-355
Silvia Miranda-Agrippino, Giovanni Ricco, Bayesian Vector Autoregressions: Estimation, Oxford Research Encyclopedia of Economics and Finance (forthcoming), Oxford University Press. doi:10.1093/acrefore/9780190625979.013.164
Silvia Miranda-Agrippino, Giovanni Ricco, Bayesian Vector Autoregressions: Applications, Oxford Research Encyclopedia of Economics and Finance (forthcoming), Oxford University Press. doi:10.1093/acrefore/9780190625979.013.478
Paul Hubert, Giovanni Ricco, Imperfect Information in Macroeconomics, La Revue de l’OFCE, Volume 157, September 2018, Pages 181-196
Paul Hubert, Giovanni Ricco, Macroéconomique et Information Imparfaite, La Revue de l’OFCE, Volume 153, January 2018, Pages 201-21
Atif Ellahie, Giovanni Ricco, Government Purchases Reloaded: Informational Insufficiency and Heterogeneity in Fiscal VARs, Journal of Monetary Economics, Volume 90, October 2017, Pages 13-27
Giovanni Ricco, Giovanni Callegari, Jacopo Cimadomo, Signals from the government: Policy disagreement and the transmission of fiscal shocks, Journal of Monetary Economics, Volume 82, September 2016, Pages 107-118
Jarah Evslin, Giovanni Ricco - The Surface Layers Dual to Hydrodynamic Boundaries, Nucl.Phys.B845:190-211,2011
Subjects: High Energy Physics - Theory

Monetary-Fiscal Crosswinds in the European Monetary Union

Accepted at the European Economic Review Final draft Appendix Replica Code [ZIP] BIS working paper VoxEu column "Fiscal-monetary...

Identification with External Instruments in Structural VARs

Accepted Draft (November 2021) IV methods have become the leading approach to identify the effects of macroeconomic shocks. Conditions...

The ECB strategy: The 2021 review and its future

The CEPR Report "The ECB strategy: The 2021 review and its future" Download the the Book Our VoxEu blog piece From the CEPR website: The...

When is growth at risk?

Brookings Papers on Economic Activity Spring 2020 final draft and codes [Link] Slides [PDF] Conference Draft [PDF] This paper...

S. Miranda-Agrippino, G. Ricco - The Transmission of Monetary Policy Shocks

Final paper and replica codes published on AEJ:macro (Forthcoming) [Link] Monetary Policy Instrument [.xlsx] Replication Codes [.zip]...

A Model of the Fed’s View on Inflation

Accepted at the Review of Economics and Statistics Slides ECB-Cleveland Inflation Conference (May 2020) [PDF] New Draft (August 2020)...

Financial and Fiscal Interaction in the Euro Area Crisis: This Time was Different

European Economic Review, Volume 119, October 2019 [Link] Working Paper [CEPR wp] Article on Vox "The financial origin of the euro area...

Bayesian Vector Autoregressions

Approved for publication in the forthcoming Economics and Finance Oxford Research Encyclopedia edited by Jonathan Hamilton by Oxford...

Imperfect Information in Macroeconomics/Macroéconomique et Information Imparfaite

[French] La Revue de l’OFCE, January 2018 [Link] [PDF] [English] La Revue de l’OFCE, September 2018 [Link] This article presents some...

A. Ellahie, G. Ricco - Government Purchases Reloaded: Informational Insufficiency and Heterogeneity

Download [PDF] [Online Appendix] Journal of Monetary Economics Volume 90, October 2017, Pages 13-27 [Link] Abstract: Using a large...

G. Ricco, G. Callegari, J. Cimadomo - Signals from the Government: Policy Disagreement and the Trans

Dowload [JME] [ECB wp] [Appendix] Journal of Monetary Economics, Volume 82, September 2016, Pages 107-118 Bloomberg Quint Abstract: This...

The surface layers dual to hydrodynamic boundaries

Nuclear Physics B Volume 845, Issue 2, 11 April 2011, Pages 190-211 [Link] The AdS/hydrodynamics correspondence provides a 1–1 map...

Working Papers

Monitoring the Economy in Real-Time: Trends and Gaps in Real Activity and Prices

Paper on ArXiv A mixed-frequency semi-structural model is used for estimating unobservable quantities such as the output gap, the...

Identification with External Instruments in Structural VARs

Accepted Draft (November 2021) IV methods have become the leading approach to identify the effects of macroeconomic shocks. Conditions...

The Global Transmission of U.S. Monetary Policy

New Working Paper (February 2021) Slides for the NBER Summer Institute 2021 The US monetary policy propagates internationally by...

Information and Policy Shocks in Monetary Surprises

The GitHub Repository contains time series at monthly frequency of the high-frequency instruments for monetary policy and information...

Bayesian Local Projections

We propose a Bayesian approach to Local Projections that optimally addresses the empirical bias-variance tradeoff inherent in the choice...

When is growth at risk?

Brookings Papers on Economic Activity Spring 2020 final draft and codes [Link] Slides [PDF] Conference Draft [PDF] This paper...

A Model of the Fed’s View on Inflation

Accepted at the Review of Economics and Statistics Slides ECB-Cleveland Inflation Conference (May 2020) [PDF] New Draft (August 2020)...

Deep Dynamic Factor Models

Very First Draft [ArXiv] Slides: We propose a novel deep neural net framework -- that we refer to as Deep Dynamic Factor Model (D2FM)...

Financial Variables as Predictors of Real Growth Vulnerability

Slides for the 5th Annual Macroprudential Conference: Macroprudential, June 2019 in Eltville [PDF] Working Paper [PDF] We evaluate...

S. Miranda-Agrippino, G. Ricco - Unsurprising Shocks: Information, Premia, and the Monetary Transmis

Slides [PDF] Central banks’ decisions are a function of forecasts of macroeconomic fundamentals. Because private sector forecasts may...

G. Ricco - A New Identification of Fiscal Shocks Based on the Information Flow

Download [PDF] [ECB wp Series] Abstract: Can discretionary increases in government spending stimulate the economy? We answer this...

A. Caruso, L. Reichlin, G. Ricco - The Legacy Debt and the Joint Path of Public Deficit and Debt in

Download [PDF] [European Commission Discussion Paper] Abstract: This paper studies the joint dynamics of public debt and public deficit...

Discussions

Discussion of: “Why Does Risk Matter More in Recessions than in Expansions” Andreasen et al

My discussion slides for Discussion of: “Why Does Risk Matter More in Recessions than in Expansions” by Andreasen, Caggiano, Castelnuovo...

Discussion slides of “Conditionality in Official Lending: Compliance through strategic assessment”

My discussion slides of an early draft of “Conditionality in Official Lending: Compliance through strategic assessment” by Clancy, Erce,...

Discussion of "Assessing Central Bank Communication Through Monetary Policy Statements"

Discussion slides of "Assessing Central Bank Communication Through Monetary Policy Statements: Results for Colombia, Chile and Peru" by...

Discussion of Corsetti, Lafarguette, Mehl – ‘Fast Trading and the Virtue of Entropy: Evidence from t

Slides [PDF] Discussion Slides for Corsetti, Lafarguette, Mehl – ‘Fast Trading and the Virtue of Entropy: Evidence from the Foreign...

Discussion of Cieslak and Schrimpf - "Non Monetary News in Central Bank Communication"

Slides [PDF] Discussion Slides: Cieslak and Schrimpf - `Non Monetary News in Central Bank Communication', prepared for the Bank of Canada...

Discussion Slides: Inoue, Rossi - ‘The Effects of Conventional and Unconventional Monetary Policy on

Slides [PDF] Discussion Slides: Inoue, Rossi - ‘The Effects of Conventional and Unconventional Monetary Policy on Exchange Rates’,...

Discussion Slides: Uzeda - "The Effects of Monetary Policy on Trend Inflation"

Discussion slides for the paper by Uzeda - `The Effects of Monetary Policy on Trend Inflation', prepared for the XX Annual Inflation...

Discussion Slides: Corsetti, Dedola, Trezzi - ‘The Missing Internal Devaluation’

Discussion slides for the paper by Corsetti, Dedola and Trezzi - ‘The Missing Internal Devaluation’, prepared for the Conference on...

Discussion Slides: K. J. Lansing - "Endogenous Regime Shifts in a New Keynesian Model with a Time"

Discussion slides of the paper of Kevin J. Lansing (S. Francisco Fed), "Endogenous Regime Shifts in a New Keynesian Model with a...

Discussion Slides: Dedola, Rivolta, Stracca - ‘If the Fed sneezes, who catches a cold?’

Discussion slides of the paper of Dedola, Rivolta, Stracca "If the Fed sneezes, who catches a cold?", prepared for the NBER International...

Webinars & Blog Posts

CEPR Webinar on Central Bank Communication and Information Effects

My slides for the CEPR Webinar on Central Bank Communication and Information Effects

Cryptoassets: Inflation Hedge, Portfolio Diversifier or Return Enhancer?

My slides for the webinar [PDF]

Lecture: “Domestic and International Effects of US Monetary Policy”

The ARC 2021 Online Lecture on “Domestic and International Effects of US Monetary Policy” prepared for students in Ukraine and organised...

The Future of Digital Currencies

A webinar on the future of money A set of slides on bitcoin, cryptocurrencies, digital currencies, stablecoins, global stablecoins,...

Monetary Policy Transmission and Inflation

Presentation Slides [PDF] Policy Presentation for the policy session on `Identification, Propagation and Spillover of Domestic and...

Low inflation for longer

A VOX piece on inflation in the US and in the Euro Area [Link] French version: Une inflation faible pour longtemps? [OFCE blog] The...

L’effet des politiques économiques dépend-il de ce dont nous en savons

OFCE Blog [FR]: L’effet des politiques économiques dépend-il de ce dont nous en savons (par Paul Hubert et Giovanni Ricco)

Sundry

The Future of Digital Currencies

A webinar on the future of money A set of slides on bitcoin, cryptocurrencies, digital currencies, stablecoins, global stablecoins,...

The Ages of South African Fiscal Policy - 1970-2012

A Point Changing VAR to identify changes in regimes in the South African fiscal and monetary policy framework. Presentation slides ESSA...

Publications​

Working Papers​

Discussions

Webinars & Blog Posts

Sundry

Publications

Working Papers