Articles & Working papers
2021
- Marimon, Ramon and Adrien Wicht (2021) “Euro area fiscal policies and capacity in post-pandemic times”, European Parliament, Economic Governance Support Unit, 2021, PE 651.392
- Marimon, Ramon (2021) “Lessons from the Great Financial Crisis in perspective”, in Y. Cassis and J.J. van Helten (Eds.) The Legacy of the Global Financial Crisis, Bloomsbury.
- Gaballo, Gaetano and Ramon Marimon (2021) “Breaking the Spell with Credit-Easing: Self- Confirming Credit Crises in Competitive Search Economies”, Journal of Monetary economics, 2021,119, 1-20.
Other working papers under revision:
- Díaz-Saavedra, Julián, Ramon Marimon and João Broguiera de Sousa (2021) “A worker’s Backpack as an Alternative to PAYG Pension Systems”.
- Ferrari, Alessandro, Ramon Marimon and Chima Simpson-Bell (2021) “Fiscal and Currency Union with Default and Exit”.
- Liu, Yan, Ramon Marimon and Adrien Wicht (2021) “Making Sovereign Debt Safe with a Financial Stability Fund”.
- Clancy, Daragh, Aitor Erce, Andreja Lenarcic and Ramon Marimon (2021) “Conditionality in Official Lending: Compliance through strategic assessment”.
2020
- Joaquín Almunia and Ramon Marimon (8 October 2020), Article on El País: ‘The design of the Monetary and Economic Union turns 50’ (El diseño de la Unión Monetaria y Económica)
- Cooley, Thomas, Ramon Marimon and Vincenzo Quadrini (2020) “Commitment in Organisations and the Competition for Talent”, The Review of Economic Studies, 2020, 87(5), 2165-2204.
- Tsiaras, Stylianos (2020) “Asset Purchases, Limited Asset Markets Participation and Inequality”, EUI-MWP-PWC
2019
- Marimon, Ramon and Albert Marcet (2019) “Recursive Contracts”, Econometrica, Vol. 87, No. 5, pp.1589-1631
- Molteni, F. (2019), “Liquidity, Government Bonds and Sovereign Debt Crises”, MWP Working Paper 2019/02, EUI
- Marimon, R. (2019), “Feasible and Much Needed Reforms for the EMU: The European Stability Fund et al.”, RSCAS Policy Paper 2019/07, Special Edition for the European Parliament Elections,
EUI
2018
- Ábrahám, Árpád, João Broguiera de Sousa, Ramon Marimon and Lukas Mayr (2018) “On the Design of a European Unemployment Insurance Mechanism” , ADEMU WP2018/106
- Díaz-Saavedra, Julián, Ramon Marimon and João Broguiera de Sousa (2018) “Introducing an Austrian Backpack in Spain”, ADEMU WP2018/139.
- Poeschl, Zhang, Housing, Financial Crises and Macroprudential Regulation: The Case of Spain – May 2018
- Bayer, Kim, Kriwoluzky, The Term Structure of Redomination Risk – May 2018
- Gourinchas, Martin, Messer, The Economics of Sovereign Debt, Bailouts and the Eurozone Crisis – May 2018
- Dolado, Motyovszki, Pappa, Monetary Policy and Inequality under Labor Market Frictions and Capital-Skill Complementarity – May 2018
- Dedola, Georgiadis, Grab, Does a Big Bazooka Matter? Central Bank Balance-Sheet Policies and Exchange Rates – May 2018
2017
- Beukers, Thomas and Bruno de Witte and Claire Kilpatrick, “Constitutional change through Euro-crisis law: taking stock, new perspectives and looking ahead”, in: Beukers, De Witte and Kilpatrick (eds.), Constitutional Change Through Euro-Crisis Law (Cambridge University Press, 2017) p. 1-24.
- Beukers, Thomas and Marijn van der Sluis, “Different Integration from the Perspective of Non-Euro Area Member States”, in: Beukers, De Witte and Kilpatrick (eds.), Constitutional Change Through Euro-Crisis Law (Cambridge University Press, 2017) p. 143-176.
- Beukers, Thomas, “The Eurozone Crisis and the Autonomy of Member States in Economic Union: Changes and Challenges, in: Research Handbook on the Law of the EU’s Internal Market (Edgar Elgar Publishing, 2017) p. 263-288
- Lanati, Mauro, “ The impact of foreign aid on migration revisited,” Max Weber Programme WP 2017/05
- Steinbach, Armin, “ Insurance-type Coordination under EU Law,” 28 Swiss Review of International and European Law 19-40 (2017).
- Steinbach, Armin, “ Effect-based Analysis in the Jurisprudence on the Euro Crisis,” 42 European Law Review 255-270 (2017).
- Steinbach, Armin, “ All’s well that ends well? Crisis policy after the German Constitutional Court’s ruling,” in Gauweiler, 24 Maastricht Journal of European and Comparative Law 140-149 (2017).
- Steinbach, Armin, “ Promoting Coherence Between PTAs and the WTO Through Systemic Integration,” Journal of International Economic Law 20 (2017) 61-85 (with Pamela Apaza).
2016
- Gaballo, G. & Marimon, R. (2016), Breaking the spell with credit-easing: self-confirming credit crises in competitive search economies, ADEMU Working Paper; 2016/001
- Kapetanios, George, Khalaf, L. & Marcellino, M. (2016), ‘ Factor based identification-robust inference in IV regressions’, Journal of applied econometrics, Vol. 31, No. 5, pp. 821–842
- Steinbach, Armin, “ Structural Reforms in EU Member States: Exploring Sanction-based and Reward-based Mechanism,” ADEMU Working Paper; 2016/040.
- Steinbach, Armin, “ Promoting Coherence Between PTAs and the WTO Through Systemic Integration,” RSCAS Working Paper; 2016
2015
- Canova, Fabio; Perez-Forero, Fernando; “ A General Algorithm for Estimating Structural VARs”, Quantitative Economics, 2015, 6(2).
- Canova, Fabio; Schlaepfer, Alain; “ Has the Euro-Mediterranean Partnership changed Mediterranean Business Cycles?” – Appendix, Journal of Applied Econometrics, 03/2015, 30(2).
- Marcellino, Massimiliano; Carriero, Andrea; Todd, Clark; “ Bayesian VARs: Specification Choices and Forecasting Performance”, Journal of Applied Econometrics, 2015, 30, 46-73.
- Marcellino, Massimiliano; Foroni, Claudia; Schumacher, Christian; “ U-MIDAS: MIDAS regressions with unrestricted lag polynomial”, Journal of the Royal Statistical Society, 2015, Series A, 178, 57-82.
- Marcellino, Massimiliano; Bulligan, Guido; Venditti, Fabrizio; “ Forecasting economic activity with targeted predictors”, International Journal of Forecasting, 2015, 31, 188-206.
- Marcellino, Massimiliano; Lemke, Wolfgang; Eickmeier, Sandra; “ A Classical Time Varying FAVAR Model: Estimation, Forecasting, and Structural Analysis”, Journal of the Royal Statistical Society, 2015, Series A, 178, 57-82.
2014
- Bridging DSGE Models and the Raw Data, Fabio Canova, “Journal of Monetary Economics”, 2014, vol. 67, issue C, 1-15.
- A General Algorithm for Estimating Structural VARs, Fabio Canova and F. Perez-Forero, “Quantitative Economics”, Volume 6, Issue 2 (July 2015)
- The effects of the monetary policy stance on the transmission mechanism, Massimiliano Marcellino with Ana Galvao, “Studies in Nonlinear Dynamics and Econometrics”, 2014, vol. 18(3).
- Forecasting with Factor Augmented Error Correction Models, Massimiliano Marcellino, Anindya Banerjee and Igor Masten, “International Journal of Forecasting”, 2014, vol. 30, 589-612.
2013
- Pooling Versus Model Selection for Nowcasting GDP with Many Predictors: Empirical Evidence for six Industrialized Countries , Journal of Applied Econometrics Massimiliano Marcellino, Vladimir Kuzin and Christian Schumacher, 2013
- Forecasting with Factor Augmented Error Correction Models , International Journal of Forecasting ,
Massimiliano Marcellino, Anindya Banerjee and Igor Masten, 2013 - Markov Switching MIDAS Models , Journal of Business and Economic Statistics Massimiliano Marcellino and Pierre Guérin, 2013
- The Effects of the Monetary Policy Stance on the Transmission Mechanism , Studies in Nonlinear Dynamics and Econometrics Massimiliano Marcellino and Ana Beatriz Galvao, 2013
- Bayesian VARs: Specification Choices and Forecasting Performance , Journal of Applied Econometrics , Massimiliano Marcellino, Andrea Carriero and Todd Clark, 2013
- The multiscale causal dynamics of foreign exchange markets ”, Journal of International Money and Finance , 33, 282-305
Massimiliano Marcellino and Stelios Bekiros, 2013 - Massimiliano Marcellino; Mario Porqueddu; Fabrizio Venditti, “Short-term GDP forecasting with a mixed frequency dynamic factor model with stochastic volatility” Banca d’Italia , Temi di Discussione, 896, 2013
- Choosing the Variables to Estimate Singular DSGE Models Fabio Canova, Filippo Ferroni and Christian Matthes, 2013
- How Important is Tourism for the International Transmission of Cyclical Fluctuations? Evidence from the Mediterranean Fabio Canova and Pietro Dallari, 2013
- Forecasting Economic Activity with Higher Frequency Targeted Predictors Claudia Foroni and Massimiliano Marcellino, 2013
2012
- The Banking and Distribution Sectors in a Small Open Economy DSGE Model Szabolcs Deak, Lionel Lionel, Marco Maffezzoli and Massimiliano Marcellino, 2012
- An Estimated DSGE Model of a Small Open Economy within the Monetary Union: Forecasting and Structural Analysis Massimiliano Marcellino and Yuliya Rychalovska, 2012
- A Comparison of Mixed Frequency Approaches for Modelling Euro Area Macroeconomic Variables Claudia Foroni and Massimiliano Marcellino, 2012
- Macroeconomic Forecasting during the Great Recession: The Return of Non-Linearity? Laurent Ferrara, Massimiliano Marcellino and Matteo Mogliani, 2012
- Massimiliano Marcellino; Guido Bulligan and Fabrizio Venditti “Forecasting economic activity with targeted predictors”, Banca d’Italia, Temi di Discussione, 847
- Elena Carletti; Franklin Allen; Douglas Gale “Money, Financial Stability and Efficiency”, Journal of Economic Theory , 2012
- Elena Carletti; Franklin Allen “What’s Systemic Risk?”, Journal of Money, Credit and Banking , 2012
- Elena Carletti; Franklin Allen; Ana Babus “Asset Commonality, Debt Maturity and Systemic Risk”, Journal of Financial Economics , 2012, 104(3), 519-534
- Carriero, Andrea; Kapetanios, George; Marcellino, Massimiliano “Forecasting Government Bond Yields with Large Bayesian VARs”, Journal of Banking and Finance , 2012, 36(7), 2026-2047.
- Demertzis, Maria; Marcellino, Massimilinao; Viegi, Nicola “ A Credibility Proxi: Tracking US Monetary Developments ”, B.E. Journal of Macroeconomics , Topics, 2012, 12(1).
2011
- Allen, Franklin; Carletti, Elena; Marquez, Robert; “Credit Market Competition and Capital Regulation” Review of Financial Studies, 2011, 24(4), 983–1018, lead article
- Allen, Franklin; Carletti, Elena; Leonello, Agnese, “Deposit Insurance and Risk Taking” (with), Oxford Review of Economic Policy, 2011, 27(3), 464-478
- Allen, Franklin; “New Theories to Underpin Financial Reform”, Journal of Financial Stability, forthcoming – 2011
- Carriero, Andrea; Kapetanios, George; Marcellino, Massimiliano “ Forecasting Large Datasets with Bayesian Reduced Rank Multivariate Models ”, Journal of Applied Econometrics, 2011, 26, 736-761.
- Kuzin, Vladimir; Marcellino, Massimiliano; Schumaker, Christian “MIDAS vs Mixed-Frequency VAR for Nowcasting GDP in the Euro Area”, International Journal of Forecasting , 2011, 27, 529-542.
- Carriero, Andrea “Sectoral survey-based confidence indicators for Europe”, Oxford Bulletin of Economics and Statistics , 73, 175–206.
- Musso, Alberto “The Reliability of Real Time Estimates of the Euro Area Output Gap”, with, Economic Modelling , 2011, 28, 1842–1856.
- Frale, Cecilia; Mazzi, Gianluigi; Marcellino, Massimiliano; Proietti, Tommaso “EUROMIND: A Monthly Indicator of the Euro Area Economic Conditions” Journal of the Royal Statistical Society , 2011, Series A, 174, 439-470.
- Angelini, Elena; Marcellino, Massimiliano “Econometric Analyses with Backdated Data: Unified Germany and the Euro Area”, Economic Modelling , 2011, 28, 1405–1414.
- Deak, Szabolcs; Fontagné, Lionel; Maffezzoli, Marco; Marcellino, Massimiliano “LSM: A DSGE Model for Luxembourg”, Economic Modelling , 2011, 28, 2862–2872.
- Kuzin Vladimir; Marcellino Massimiliano; Schumaker Christian; ‘MIDAS vs Mixed-Frequency VAR for Nowcasting GDP in the Euro Area’, with, International Journal of Forecasting, 2011, 27, 529-542.
- Carriero Andrea; Marcellino Massimiliano; ‘Sectoral survey-based confidence indicators for Europe’ Oxford Bulletin of Economics and Statistics, 2011, 73, 175–206.
- Marcellino Massimiliano; Musso Alberto; ‘The Reliability of Real Time Estimates of the Euro Area Output Gap’ with, Economic Modelling, 2011, 28, 1842–1856.
- Frale Cecilia; Marcellino Massimiliano; Mazzi Gianluigi; Proietti Tommaso; ‘EUROMIND: A Monthly Indicator of the Euro Area Economic Conditions’, Journal of the Royal Statistical Society, 2011, 174, 439-470.
2010
- Empirical Simultaneous Confidence Regions for Path-Forecasts ,
Massimiliano Marcellino, Oscar Jorda and Malte Knueppel, 2010 - Corsetti, Giancarlo; Meier, André; Müller, Gernot J., ‘Cross-Border Spillovers from Fiscal Stimulus’, International Journal of Central Banking, 2010, 6, 1, 5-37.
- Corsetti, Giancarlo; Kuester, Keith; Meier, André, Müller, Gernot; ‘Debt Consolidation and Fiscal Stabilization of Deep Recessions’, American Economic Review, 2010, 100(2), 41-45.
- Optimal Currency Area Revisited (Distinguished Lecture held at the EUI) Yves Mersch, 2011
- The Changing International Transmission of Financial Shocks Sandra Eickmeier, Wolfgang Lemke and Massimiliano Marcellino, 2011
- On the Importance of Sectoral and Regional Shocks for Price-Setting Guenter Beck, Kirstin Hubrich and Massimiliano Marcellino, 2011
2008
- Corsetti, Giancarlo; ‘A Modern Reconsideration of the Theory of Optimal Currency Areas’, European Economy Economic Papers, 2008, 308, 1-39.
- Corsetti, Giancarlo et.al., ‘Proceedings of the Twenty-second Annual Congress of the European Economic Association, Budapest, August 2007’, Journal of the European Economic Association, 2008, 6, 2-3, 255-726.
- Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain; ‘International Risk Sharing and the Transmission of Productivity Shocks’, Review of Economic Studies, 2008, 75, 2, 443-473.
- Corsetti, Giancarlo; Mueller, Gernot; ‘Twin Deficits, Openness, and the Business Cycle’, Journal of the European Economic Association, 2008, 6(2-3), 404-413.
- Corsetti, Giancarlo; Bergin, Paul; ‘The Extensive Margin and Monetary Policy’, Journal of Monetary Economics, 2008, 55, 7, 1222-1237.
- Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain; ‘High Exchange Rate Volatility and Low Pass-through’, Journal of Monetary Economics, 2008 55(6), 1113-1128, previously CEPR dp 5377.
2007
- Corsetti, Giancarlo; Martin, Philippe; Pesenti, Paolo; ‘Productivity Spillovers, Terms of Trade and the ‘Home Market Effect’’, Journal of International Economics, 2007, 73(1): 99-127. Previously DP 4964, NBER WP 11165.
- Corsetti, Giancarlo; Mueller, Gernot; ‘Twin deficit, Openness and the Business Cycle’, prepared for the 2007 EEA Meeting in Budapest, CEPR discussion paper no. 4769, 2007, Journal of European Economic Association 2008, 6, 2-3, 404-413.
2006 and earlier
- Corsetti, Giancarlo; Mackowiak, Bartosz; ‘Fiscal Imbalances and the Dynamics of Currency Crises’, European Economic Review, 2006, 50, 1317-1338.
- Corsetti, Giancarlo; Guimaraes, Bernardo; Roubini, Nouriel; ‘International Lending of Last Resort and Moral Hazard: A Model of IMF’s Catalytic Finance’, Journal of Monetary Economics, 2006, 53, 441-471.
- Corsetti, Giancarlo; ‘Openness and the Case for Flexible Exchange Rates’, Research in Economics, 2006, 60, 1-21.
- Corsetti, Giancarlo; Mueller, Gernot; ‘Twin Deficits: Squaring Theory Evidence and Common Sense’, Economic Policy, 2006, 48, 597-638.
- Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain; ‘Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries’, in Lucrezia Reichlin and Kennet West (eds.), NBER International Seminar on Microeconomics, 2006. (Also CEPR Discussion Paper 5853, NBER Working Paper 12483).
- The Simple Geometry of Transmission and Stabilization in Closed and Open Economies Giancarlo Corsetti and Paolo Pesenti, 2005
- Towards a Theory of Firm Entry and Stabilization Policy Paul Bergin and Giancarlo Corsetti, 2005
- DSGE Models of High Exchange-Rate Volatility and Low Pass-Through Giancarlo Corsetti, Luca Dedola and Sylvain Leduc, 2005
- Current Account Theory and the Dynamics of US Net Foreign Liabilities Giancarlo Corsetti and Panagiotis T. Konstantinou, 2005
- International Risk Sharing and the Transmission of Productivity Shocks Giancarlo Corsetti, Luca Dedola and Sylvain Leduc, 2004
- The Eastward Enlargement of the European Monetary Union Michele Ca’ Zorzi and Roberto A. De Santis, 2004
- Nominal versus Real Convergence with Respect to EMU Accession: How to Cope with the Balassa-Samuelson Dilemma Paul De Grauwe and Gunther Schnabl, 2004
- The Inflation Target of the ECB: Does the Balassa-Samuelson Effect Matter? Kirsten Lommatzsch and Silke Tober, 2004
- Exchange Rate Strategies towards EMU for Accession Countries with Currency Boards Margarita Katsimi, 2004
- Exchange Rate Policies and Institutional Arrangements in the Transition Process to European Monetary Union Peter Bofinger, 2004
- The Endogenity of the Optimum Currency Area Criteria, Trade, and Labour Market Rigidities: Implications for EMU Enlargement Jarko Fidrmuc, 2004
- Designing Poland’s Macroeconomic Strategy on the Way to the Euro Area Jakub Borowski and Michal Brzoza-Brzezina, 2004
- Macroeconomic and Monetary Thought at the European Commission in the 1960s Ivo Maes, 2004
- Could Politicians Be More Right Than Economists? A Theory of Merger Standards Bruce R. Lyons, 2003
- France and Italy’s Policies on European Monetary Integration: A Comparison of ‘Strong’ and ‘Weak’ States Ivo Maes and Lucia Quaglia, 2003
- Towards a European Budgetary System Marco Buti and Mario Nava, 2003