Research Blog

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 identifi...

Real-Time Macroeconomic Monitoring with Semi-structural Restrictions

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, centr...

When is growth at risk?

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

Monetary-Fiscal Crosswinds in the European Monetary Union

The BIS webinar by Lucrezia Reichlin followed by a discussion with Otmar Issing on Thursday 3 December 2020 We study the interaction betw...

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] Las...

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) [PD...

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) --...

The Global Transmission of U.S. Monetary Policy

Working Paper [PDF] Online Appendix [PDF] This paper studies the transmission of US monetary shocks across the globe by employing a high-...

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 whethe...

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