Publications

Articles in Journals:

·“Debt Deleveraging and The Exchange Rate,” Journal of International Economics, forthcoming. (March 2014.) Technical Appendix and paper online. (with Federica Romei.)

·“Monetary Policy, Doubts and Asset Prices,” Journal of Monetary Economics, forthcoming. (February 2014.) Technical Appendix and paper online. (with Luigi Paciello.)

·“Second-Order Approximation of Dynamic Models with Time-Varying Risk,” Journal of Economic Dynamics and Control Vol. 37, Issue 7, pp. 1231–1247, (2013). (with Gianluca Benigno and Salvatore Nisticò.) Codes available here.

Risk, Monetary Policy and The Exchange Rate,” in D. Acemoglu and M. Woodford, eds., NBER Macroeconomics Annual 2011, Chicago (US): Chicago University Press, Vol. 26, Issue 1, pp. 247-309, (2012). (with G. Benigno and Salvatore Nisticó.)

International Portfolio Allocation under Model Uncertainty,” American Economic Journal: Macroeconomics Vol. 4, Issue 1, pp. 144-189, (2012). (with Salvatore Nisticó.)

·“Linear-Quadratic Approximation of Optimal Policy Problems,” Journal of Economic Theory, Vol. 147, Issue 1, pp. 1-42, (2012). (with M. Woodford .) Supplementary note available here.

·“The Inflation-Output Trade-Off with Downward Wage Rigidities,” The American Economic Review, Vol. 101, Issue 4, pp. 1436-1466, (2011). (with Luca Antonio Ricci.)

·“Inflation Differentials in a Currency Area: Facts, Explanation and Policy,” Open Economies Review, Vol. 22, pp. 189-233, (2011). (with F. Altissimo and D. Rodriguez Palenzuela.)

·“Are Valuation Effects Desirable from a Global Perspective?” Journal of Development Economics, Vol. 89, Issue 2, pp. 170-180, (2009).

· “Price Stability with Imperfect Financial Integration,” Journal of Money, Credit and Banking, Vol. 41, Issue s1, pp. 121 – 149, (2009).

·“Exchange Rate Determination under Interest Rate Rules,” Journal of International Money and Finance, Vol. 27, Issue 6, pp. 971-993, (2008).(with G. Benigno.)

· “Implementing International Monetary Cooperation through Inflation Targeting, ” Macroeconomic Dynamics, Vol. 12, Issue s1, pp. 45-59, (2008). (with G. Benigno.)

·“Interest Rate Rules for Fixed Exchange Rate Regimes,” Journal of Economic Dynamics and Control, Vol. 31, Issue 7, pp. 2196-2211, (2007). (with G. Benigno and F. Ghironi.) 

·“Optimal Taxation in an RBC Model: A Linear Quadratic Approach,” Journal of Economic Dynamics and Control , Vol. 30, Issue 9-10, pp. 1445-1489, (2006).(with M. Woodford.)

·“Designing Targeting Rules for International Monetary Policy Cooperation,” Journal of Monetary Economics , Vol. 53, Issue 3, pp. 473-506, (2006). (with G. Benigno.) Technical Appendix available.

· “Inflation Persistence and Optimal Monetary Policy in the Euro Area,” Journal of Money Credit and Banking, Vol. 38, Issue 3, pp. 587-614, (2006). Version September 2002: European Central Bank Working Paper No. 178. (with D. Lopez-Salido.)

· “Long-run Determinants of Inflation Differentials in a Currency Area”, Moneda y Credito, Vol. 220, pp. 205-247, (2005). Version July 2005: NBER Working Paper No. 11473. (with F. Altissimo and D. Rodriguez Palenzuela.)

· “Inflation Stabilization and Welfare: The Case of a Distorted Steady State,” Journal of the European Economic Association, Vol. 3, Issue 6, pp. 1-52, (2005). May 2004 Draft contains generalizations that have been suppressed in later drafts. (with M. Woodford.)

· “Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach,” in M. Gertler and K. Rogoff, eds., NBER Macroeconomics Annual 2003, Cambridge (US): MIT Press, Vo. 18, pp. 271-333, (2004). Version September 2003, ECB Working Paper No. 345. (with M. Woodford.)

· “Optimal Monetary Policy in a Currency Area,” Journal of International Economics, Vol. 63, Issue 2, pp. 293-320, (2004). Technical Appendix, and CEPR Discussion Paper version No. 2755.

· “High Public Debt in Currency Crises: Fundamentals versus Signalling Effects,” Journal of International Money and Finance, Vol. 23, Issue 2, pp. 165-188, (2004). (with A.Missale.)

· “Price Stability in Open Economies,” Review of Economic Studies, Vol. 70, Issue 4, No. 245, pp. 743-764, (2003). (with G. Benigno.)

· “How is the Debt Managed? Learning from Fiscal Stabilizations,Scandinavian Journal of Economics, Vol. 104, Issue 3, pp. 443-469, (2002). (with F. Giavazzi and A. Missale.)

· “A Simple Approach to International Monetary Policy Coordination,Journal of International Economics, Vol. 57, Issue 1, pp. 177-196, (2002).

Articles in Books:

· “Optimal Inflation Targeting Under Alternative Fiscal Regimes, ” in K. Schmidt-Hebbel, Mishkin (eds.) Monetary Policy Under Inflation Targeting, Chile: Central Bank of Chile, forthcoming. Version April 2006: NBER Working Paper No. 12158. (with M. Woodford.)

· “Optimal Stabilization Policy When Wages and Prices Are Sticky: The Case of a Distorted Steady State,” in J. Faust, A. Orphanides, and D. Reifschneider (eds.), Models and Monetary Policy: Research in the Tradition of Dale Henderson, Richard Porter, and Peter Tinsley, Federal Reserve Board , Washington, forthcoming. Version October 2004: NBER Working Paper 10839. (with M. Woodford.)

· “An Evaluation of Alternative Targeting Rules for the ECB,” in R. Beetsma, C. Favero, A. Missale, V. A. Muscatelli, P. Natale and P. Tirelli, eds., Monetary Policy, Fiscal Policies and Labour Markets. Macroeconomic Policymaking in the EMU, Cambridge (UK): Cambridge University Press, (2004). (with D. Lopez-Salido.)

Comments and Discussions:

·“Comment” on “Equilibrium Yields” by Monika Piazzesi and Martin Schneider, in D. Acemoglou, K. Rogoff and M. Woodford, eds., NBER Macroeconomics Annual 2006, vol. 21, Cambridge (US): MIT Press, forthcoming. Version July 2006.

· “Comment” on “Fiscal Externalities and Optimal Taxation in an Economic Community” by Marianne Baxter and Robert King, NBER International Seminar On Macroeconomics, forthcoming. Version November 2005.

·“Comment” on “How Important Are Nontradable Goods Prices as Sources of Cyclical Fluctuations in Real Exchange Rates?” by Ariel Burstein, Martin Eichenbaum and Sergio Rebelo, Japan and the World Economy, Volume 18, Issue 3, Pages 254-260, (2006).