Research Blog

Monetary-Fiscal Crosswinds in the European Monetary Union

We study the monetary-fiscal mix in the European Monetary Union. The medium and long-run effects of conventional and unconventional...

Bayesian Local Projections

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

The Global Transmission of U.S. Monetary Policy

New Working Paper (February 2021) A Set of slides The US monetary policy propagates internationally by affecting external demand and due...

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...

Identification with External Instruments in Structural VARs under Partial Invertibility

New Draft (Feb 2021) IV methods have become the leading approach to identify the effects of macroeconomic shocks. Conditions for...

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

A real-time model to monitor developments in output gap, equilibrium unemployment, trend and cyclical components of inflation.

The Future of Digital Currencies

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

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)...

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