Andrea Ajello

Board of Governors of the Federal Reserve System

Section Chief

20th Street and Constitution Avenue NW

Washington, DC 20551

United States

http://sites.google.com/site/ajelloandrea/

SCHOLARLY PAPERS

12

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SSRN CITATIONS
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Top 13,114

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71

CROSSREF CITATIONS

40

Scholarly Papers (12)

Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations

Number of pages: 112 Posted: 12 Jul 2011 Last Revised: 01 Nov 2015
Andrea Ajello
Board of Governors of the Federal Reserve System
Downloads 702 (66,206)
Citation 6

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DSGE Model, Financial Frictions, Financial Shocks, Bayesian Estimation, Public Supply of Liquidity, Compustat, Financing Gap, Great Recession

Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations

FEDS Working Paper No. 2012-67
Number of pages: 57 Posted: 01 Jan 2013 Last Revised: 21 May 2014
Andrea Ajello
Board of Governors of the Federal Reserve System
Downloads 204 (265,886)
Citation 30

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DSGE model, Financial frictions, Financial shocks, Bayesian estimation, Capital expenditure financing

Monetary Policy, Inflation Outlook, and Recession Probabilities

FEDS Notes No. 2022-07-12
Posted: 21 Jul 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department, Independent, International Monetary Fund (IMF) - Research Department and Board of Governors of the Federal Reserve System

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Monetary Policy, Inflation Outlook, and Recession Probabilities

Economic Perspectives, No. 4, 2022
Number of pages: 14 Posted: 03 Aug 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department, Board of Governors of the Federal Reserve System, International Monetary Fund (IMF) - Research Department and Board of Governors of the Federal Reserve System
Downloads 374 (142,774)

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yield-curve slope, recession forecasts, monetary policy, bond risk premia, policy path, inflation forecasts, near-term forward spread, Asset Markets and Pricing, Equities, Fixed Income Securities, Business Fluctuations, Cycles, Prices

Monetary Policy, Inflation Outlook, and Recession Probabilities

Number of pages: 18 Posted: 22 Jul 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department, Board of Governors of the Federal Reserve System, International Monetary Fund (IMF) - Research Department and Board of Governors of the Federal Reserve System
Downloads 257 (212,684)

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yield-curve slope, recession forecasts, near-term forward spread, monetary policy, bond risk premia, policy path

Monetary Policy, Inflation Outlook, and Recession Probabilities

FRB of Chicago Working Paper No. 2022-31
Number of pages: 19 Posted: 13 Jul 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department, Board of Governors of the Federal Reserve System, International Monetary Fund (IMF) - Research Department and Board of Governors of the Federal Reserve System
Downloads 46 (733,809)
Citation 1

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yield-curve slope, recession forecasts, monetary policy, bond risk premia, policy path, inflation forecasts, near-term forward spread

Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms

FRB of New York Staff Report No. 1002
Number of pages: 29 Posted: 16 Feb 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York, Federal Reserve Bank of Chicago and Federal Reserve Bank of New York
Downloads 520 (96,976)

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monetary policy, financial stability, credit, leverage, liquidity, asset prices

Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms

FEDS Working Paper No. 2022-5
Number of pages: 29 Posted: 18 Feb 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York, Federal Reserve Bank of Chicago and Federal Reserve Bank of New York
Downloads 71 (591,201)

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Monetary policy, Asset prices, Financial stability, Financial crises, Credit, Leverage, Liquidity

Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms

FRB of Chicago Working Paper No. 2022-06
Number of pages: 29 Posted: 16 Feb 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of New York, Federal Reserve Bank of Chicago and Federal Reserve Bank of New York
Downloads 20 (954,534)

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monetary policy, financial stability, financial crises, credit, leverage, liquidity, asset prices

4.

Financial Stability and Optimal Interest-Rate Policy

FEDS Working Paper No. 2016-67
Number of pages: 72 Posted: 19 Aug 2016 Last Revised: 21 Sep 2016
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System (deceased), Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 501 (102,406)
Citation 16

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5.

Core and 'Crust': Consumer Prices and the Term Structure of Interest Rates

Number of pages: 50 Posted: 29 May 2011 Last Revised: 23 Dec 2012
Andrea Ajello, Luca Benzoni and Olena Chyruk
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department and Federal Reserve Bank of Chicago
Downloads 474 (109,479)
Citation 11

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term structure of interest rates, real rates, inflation, inflation risk premium, real rate risk premium

6.

Monetary Policy Tradeoffs and the Federal Reserve'S Dual Mandate

FEDS Working Paper No. 2020-66
Number of pages: 33 Posted: 02 Sep 2020 Last Revised: 11 Sep 2020
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of Richmond and Board of Governors of the Federal Reserve System
Downloads 199 (272,638)
Citation 1

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No-Arbitrage Restrictions and the U.S. Treasury Market

Economic Perspectives, Forthcoming
Number of pages: 20 Posted: 08 May 2012 Last Revised: 02 Jun 2012
Andrea Ajello, Luca Benzoni and Olena Chyruk
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department and Federal Reserve Bank of Chicago
Downloads 111 (441,436)

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No-arbitrage restrictions, U.S. Treasury market, dynamic term structure models, affine models, limits to arbitrage

No-Arbitrage Restrictions and the U.S. Treasury Market

Economic Perspectives, Vol. XXXVI, No. 2, p. 55, 2012
Number of pages: 20 Posted: 17 Jul 2012 Last Revised: 20 Jul 2012
Andrea Ajello, Luca Benzoni and Olena Chyruk
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department and Federal Reserve Bank of Chicago
Downloads 74 (577,473)
Citation 1

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no-arbitrage restrictions, U.S. Treasury market, dynamic term structure models, affine models, limits to arbitrage, Asset Pricing, Trading volume, Bond Interest Rates, Interest Rates: Determination, Term Structure, and Effects, Banks, Other Depository Institutions, Micro Finance Institutions

8.
Downloads 154 (341,143)

Sticky Leverage: Comment

Number of pages: 29 Posted: 25 Jun 2023 Last Revised: 18 Jul 2023
Andrea Ajello, Ander Perez-Orive and Balint Szoke
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 138 (373,319)

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Corporate leverage, Nominal long-term debt, Debt overhang, Generalized Euler equation

Sticky Leverage: Comment

FEDS Working Paper No. 2023-51
Number of pages: 30 Posted: 06 Sep 2023
Andrea Ajello, Ander Perez-Orive and Bálint Szőke
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Board of Governors of the Federal Reserve System
Downloads 16 (997,011)

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corporate leverage, nominal long-term debt, debt overhang, generalized Euler equation

9.

Sources of Fluctuations in Short-Term Yields and Recession Probabilities

Number of pages: 12 Posted: 09 Aug 2022
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department, Board of Governors of the Federal Reserve System, International Monetary Fund (IMF) - Research Department and Board of Governors of the Federal Reserve System
Downloads 100 (473,519)

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yield‐curve slope, recession forecasts, monetary policy, bond risk premia, policy path, inflation forecasts, near‐term forward spread

10.

Core and 'Crust': Consumer Prices and the Term Structure of Interest Rates -- Online Appendix

Number of pages: 21 Posted: 23 Dec 2012
Andrea Ajello, Luca Benzoni and Olena Chyruk
Board of Governors of the Federal Reserve System, Federal Reserve Bank of Chicago - Research Department and Federal Reserve Bank of Chicago
Downloads 96 (486,597)
Citation 12

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term structure of interest rates, real rates, inflation, inflation risk premium

11.

More than Words: Twitter Chatter and Financial Market Sentiment

FEDS Working Paper No. 2023-34
Number of pages: 36 Posted: 05 Jun 2023
Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Independent and Board of Governors of the Federal Reserve System
Downloads 77 (557,046)

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Financial Market Sentiment, Monetary policy, Natural Language Processing, Stock Returns, Twitter

12.

A New Index to Measure U.S. Financial Conditions

FEDS Notes No. 2023-06-30
Posted: 11 Jul 2023
Board of Governors of the Federal Reserve System, Division of Monetary Affairs, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System, Independent and Board of Governors of the Federal Reserve System

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