Browsing by Author "Fornaro, Luca"

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  • Fornaro, Luca (2021-04)
    Since the creation of the euro, capital flows among member countries have been large and volatile. Motivated by this fact, I provide a theory connecting the exchange rate regime to financial integration. The key feature ...
  • Fornaro, Luca (Oxford University Press, 2022)
    Since the creation of the euro, capital flows among member countries have been large and volatile. Motivated by this fact, I provide a theory connecting the exchange rate regime to financial integration. The key feature ...
  • Pozo Sánchez, Jorge (Universitat Pompeu Fabra, 2019-12-11)
    This dissertation consists of three essays. In the first chapter, I develop a two-period small open economy with banks. The interaction of the limited liability faced by banks and the bank deposit insurance results in an ...
  • Fornaro, Luca; Wolf, Martin (2020-03-01)
    Suport Tecnologic a la Recerca Pàgina no trobada L'adreça de la pàgina a la qual voleu accedir no és correcta, o bé la destinació d'aquest enllaç ha canviat d'adreça. Podeu enviar un missatge al webmàster tot indicant quina ...
  • Fornaro, Luca; Wolf, Martin (2020-03-21)
    As we write, the Covid-19 coronavirus is spreading throughout the globe. Besides its impact on public health, this coronavirus outbreak is likely to have significant economic consequences. The consensus is that the virus ...
  • Ziegenbein, Alexander (Universitat Pompeu Fabra, 2018-07-04)
    The thesis is a collection of three self-contained essays. In the first chapter, I present evidence that the effects of US tax changes on output depend on the level of economic slack. Tax cuts have large effects in good ...
  • Kanngiesser, Derrick (Universitat Pompeu Fabra, 2018-11-16)
    This dissertation consists of three chapters related to questions in monetary economics and financial stability. In the first chapter I develop a simple model of financial crises in which the key externalities are ...
  • Rojas Zea, Youel (Universitat Pompeu Fabra, 2023-05-04)
    This dissertation consists of three essays. In the first chapter, using a series of identified monetary policy shocks for Peru, I show robust evidence of supply side mechanisms of monetary policy for the credit market ...
  • Fornaro, Luca (2014-07-01)
  • Fornaro, Luca (Elsevier, 2015)
    This paper studies exchange rate policy in a small open economy model featuring an occasionally binding collateral constraint and Fisherian deflation. The goal is to evaluate the performance of alternative exchange rate ...
  • Fornaro, Luca (2012-11-01)
    This paper provides a framework to understand debt deleveraging in a group of financially integrated countries. During an episode of international deleveraging, world consumption demand is depressed and the world interest ...
  • Fornaro, Luca (Oxford University Press, 2018)
    This paper provides a framework to understand the adjustment triggered by an episode of debt deleveraging among financially integrated countries. During a period of international deleveraging, world consumption demand is ...
  • Benigno, Gianluca; Converse, Nathan; Fornaro, Luca (2014-11-01)
  • Asriyan, Vladimir; Fornaro, Luca; Martin, Alberto; Ventura, Jaume (2016-07-01)
    What is the role of monetary policy in a bubbly world? To address this question, we study an economy in which financial frictions limit the supply of assets. The ensuing scarcity generates a demand for â unbackedâ assets, ...
  • Asriyan, Vladimir; Fornaro, Luca; Martin, Alberto, 1974-; Ventura, Jaume (Oxford University Press, 2020)
    What is the role of monetary policy in a bubbly world? To address this question, we study an economy in which financial frictions limit the supply of assets. The ensuing scarcity generates a demand for “unbacked” assets, ...
  • Fornaro, Luca; Romei, Federica (2023-06)
    We study optimal monetary policy during times of exceptionally high global demand for tradable goods, relative to non-tradable ones. The optimal monetary response entails a rise in inflation, which helps rebalance production ...
  • Fornaro, Luca; Wolf, Martin (2022-09)
    We provide a framework in which monetary policy affects firms’ automation decisions (i.e. how intensively capital and labor are used in production). This new feature has far-reaching consequences for monetary policy. ...
  • Fornaro, Luca (2019-11-01)
    Since the creation of the euro, capital ows among member countries have been large and volatile. Motivated by this fact, I provide a theory connecting the exchange rate regime to nancial integration. The key feature of the ...
  • Benigno, Gianluca; Fornaro, Luca; Wolf, Martin (Elsevier, 2022)
    We present a model that reproduces two salient facts characterizing the international monetary system: Fast growing emerging countries i) run current account surpluses, ii) accumulate international reserves and receive net ...
  • Benigno, Gianluca; Fornaro, Luca; Wolf, Martin (2022-03)
    We present a model that reproduces two salient facts characterizing the international monetary system: Fast growing emerging countries i) run current account surpluses, ii) accumulate international reserves and receive net ...

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