Ambrogio Cesa-Bianchi

Bank of England

Research Economist

Threadneedle Street

London, EC2R 8AH

United Kingdom

http://https://sites.google.com/site/ambropo/

SCHOLARLY PAPERS

20

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1,731

SSRN CITATIONS
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Top 3,589

in Total Papers Citations

348

CROSSREF CITATIONS

36

Scholarly Papers (20)

Uncertainty and Economic Activity: A Global Perspective

CAFE Research Paper No. 14.03
Number of pages: 66 Posted: 24 Mar 2014
Ambrogio Cesa-Bianchi, M. Hashem Pesaran and Alessandro Rebucci
Bank of England, University of Southern California - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 246 (156,475)
Citation 13

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Uncertainty, Realized volatility, GVAR, Great Recession, Identification, Business Cycle, Common Factors

Uncertainty and Economic Activity

CESifo Working Paper Series No. 4736
Number of pages: 66 Posted: 07 May 2014
Ambrogio Cesa-Bianchi, M. Hashem Pesaran and Alessandro Rebucci
Bank of England, University of Southern California - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 100 (331,658)

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uncertainty, realized volatility, GVAR, great recession, identification, business cycle, common factors

Uncertainty and Economic Activity: A Multi-Country Perspective

USC-INET Research Paper No. 18-05, Johns Hopkins Carey Business School Research Paper No. 18-04
Number of pages: 87 Posted: 09 Feb 2018
Ambrogio Cesa-Bianchi, M. Hashem Pesaran and Alessandro Rebucci
Bank of England, University of Southern California - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 47 (500,957)
Citation 1

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Uncertainty, Business Cycle, Common Factors, Real and Financial Global Shocks, Multi-Country, Identification, Realized Volatility

Uncertainty and Economic Activity: A Multi-Country Perspective

CESifo Working Paper Series No. 6910
Number of pages: 89 Posted: 07 May 2018
Ambrogio Cesa-Bianchi, M. Hashem Pesaran and Alessandro Rebucci
Bank of England, University of Southern California - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 44 (514,979)

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uncertainty, business cycle, common factors, real and financial global shocks, multi-country, identification, realized volatility

Uncertainty and Economic Activity: A Multi-Country Perspective

Bank of England Working Paper No. 730
Number of pages: 85 Posted: 05 Jun 2018
Ambrogio Cesa-Bianchi, M. Hashem Pesaran and Alessandro Rebucci
Bank of England, University of Southern California - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 13 (719,949)

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Uncertainty, business cycle, common factors, real and financial global shocks, multi-country,

Uncertainty and Economic Activity: A Multi-Country Perspective

NBER Working Paper No. w24325
Number of pages: 87 Posted: 21 Feb 2018 Last Revised: 20 Jun 2021
Ambrogio Cesa-Bianchi, M. Hashem Pesaran and Alessandro Rebucci
Bank of England, University of Southern California - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 3 (805,671)
Citation 1

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Uncertainty and Economic Activity: A Multi-Country Perspective

CEPR Discussion Paper No. DP12713
Number of pages: 89 Posted: 20 Feb 2018
Ambrogio Cesa-Bianchi, M. Hashem Pesaran and Alessandro Rebucci
Bank of England, University of Southern California - Department of Economics and Johns Hopkins University - Carey Business School
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Citation 4
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Business cycle, Common Factors, identification, Multi-Country, Real and Financial Global Shocks, uncertainty, Volatility.

Does Easing Monetary Policy Increase Financial Instability?

IDB Working Paper No. IDB-WP-387
Number of pages: 46 Posted: 21 Apr 2013
Ambrogio Cesa-Bianchi and Alessandro Rebucci
Bank of England and Johns Hopkins University - Carey Business School
Downloads 65 (429,472)
Citation 3

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Does Easing Monetary Policy Increase Financial Instability?

IMF Working Paper No. 15/139
Number of pages: 48 Posted: 21 Jul 2015
Ambrogio Cesa-Bianchi and Alessandro Rebucci
Bank of England and Johns Hopkins University - Carey Business School
Downloads 41 (529,615)

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Monetary policy, Macroprudential Policy, United States, Real interest rates, Automatic stabilizers, Financial stability, Econometric models, Macro-prudential policies, financial crises, credit frictions, interest rate rigidities, instruments, lending, financial crisis, monetary fund

Does Easing Monetary Policy Increase Financial Instability?

Bank of England Working Paper No. 570
Number of pages: 47 Posted: 12 Dec 2015
Ambrogio Cesa-Bianchi and Alessandro Rebucci
Bank of England and Johns Hopkins University - Carey Business School
Downloads 36 (555,960)

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Macroprudential policies, monetary policy, financial crises, frictions, interest rate

Does Easing Monetary Policy Increase Financial Instability?

Number of pages: 46 Posted: 04 Feb 2016
Ambrogio Cesa-Bianchi and Alessandro Rebucci
Bank of England and Johns Hopkins University - Carey Business School
Downloads 33 (573,299)
Citation 1

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Macro-Prudential Policies, Monetary Policy, Financial Crises, Frictions Frictions, Interest Rate Rigidities

Does Easing Monetary Policy Increase Financial Instability?

NBER Working Paper No. w22283
Number of pages: 47 Posted: 01 Jun 2016 Last Revised: 22 May 2021
Ambrogio Cesa-Bianchi and Alessandro Rebucci
Bank of England and Johns Hopkins University - Carey Business School
Downloads 12 (728,650)
Citation 1

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Does Easing Monetary Policy Increase Financial Stability?

Journal of Financial Stability, Vol. 30, 2017
Number of pages: 41 Posted: 21 Oct 2019
Ambrogio Cesa-Bianchi and Alessandro Rebucci
Bank of England and Johns Hopkins University - Carey Business School
Downloads 9 (754,319)
Citation 1

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Macro-prudential policies, Monetary policy, Financial crises, Financial regulation, Pecuniary externality, Interest rate rigidities, Subprime mortgage crisis

Global Liquidity, House Prices and the Macroeconomy: Evidence from Advanced and Emerging Economies

Bank of England Working Paper No. 522
Number of pages: 43 Posted: 25 Jan 2015
Ambrogio Cesa-Bianchi, Luis Felipe Cespedes and Alessandro Rebucci
Bank of England, International Monetary Fund (IMF) and Johns Hopkins University - Carey Business School
Downloads 97 (338,412)
Citation 2

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Capital flows, emerging markets, global liquidity, house prices, external instrumental variables

Global Liquidity, House Prices, and the Macroeconomy: Evidence from Advanced and Emerging Economies

IMF Working Paper No. 15/23
Number of pages: 44 Posted: 23 Feb 2015
Ambrogio Cesa-Bianchi, Luis Céspedes and Alessandro Rebucci
Bank of England, Adolfo Ibanez University and Johns Hopkins University - Carey Business School
Downloads 56 (462,836)

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Housing prices, Business cycles, Capital flows, International liquidity, Emerging markets, Developed countries, global liquidity, house prices, external instrumental variables, economies, advanced economies, exchange rate, consumption, collateral, price inflation, financial crisis, equilibrium, currency, general equilibrium, general equilibrium models, exchange rate channel, current account, long-term interest rates, international borrowing, real exchange rate, risk, supply, imbalances, exchange rate appreciations, market economies, current account response, investment opportunities, consumption growth, exchange rates, external shocks, asset, emerging market economies, financial crises, mone

Global Liquidity, House Prices and the Macroeconomy: Evidence from Advanced and Emerging Economies

IDB Working Paper No. IDB-WP-576
Number of pages: 40 Posted: 06 May 2015
Ambrogio Cesa-Bianchi, Luis Céspedes and Alessandro Rebucci
Bank of England, Adolfo Ibanez University and Johns Hopkins University - Carey Business School
Downloads 39 (540,058)
Citation 18

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Capital flows, Emerging markets, Global liquidity, House prices, External instrumental variables

4.

Monetary Policy Transmission in an Open Economy: New Data and Evidence from the United Kingdom

Bank of England Working Paper No. 615
Number of pages: 42 Posted: 07 Sep 2016
Ambrogio Cesa-Bianchi, Gregory Thwaites and Alejandro Vicondoa
Bank of England, Bank of England - Monetary Analysis and Pontificia Universidad Catolica de Chile
Downloads 157 (235,677)
Citation 13

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Monetary policy transmission, external instrument, high-frequency identification, structural VAR, local projections

China’s Emergence in the World Economy and Business Cycles in Latin America

IDB Working Paper No. IDB-WP-266
Number of pages: 67 Posted: 14 Dec 2011
Ambrogio Cesa-Bianchi, M. Hashem Pesaran, Alessandro Rebucci and TengTeng Xu
Bank of England, University of Southern California - Department of Economics, Johns Hopkins University - Carey Business School and affiliation not provided to SSRN
Downloads 61 (443,859)
Citation 31

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Uncertainty in a Model with Credit Frictions

Bank of England Working Paper No. 496
Number of pages: 49 Posted: 24 Apr 2014
Ambrogio Cesa-Bianchi and Emilio Fernández Corugedo
Bank of England and Bank of England
Downloads 104 (320,913)
Citation 10

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Uncertainty shocks, credit frictions, business cycles, micro uncertainty, macro uncertainty, financial accelerator

7.

Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity

Bank of England Working Paper No. 854, February 2020
Number of pages: 75 Posted: 08 Feb 2020
Gareth Anderson and Ambrogio Cesa-Bianchi
Bank of England and Bank of England
Downloads 75 (392,334)
Citation 2

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monetary policy, heterogeneity, credit spreads, excess bond premium, credit channel, financial accelerator, event-study, identification

8.

Housing Cycles and Macroeconomic Fluctuations: A Global Perspective

IDB Working Paper No. IDB-WP-343
Number of pages: 45 Posted: 17 Feb 2013
Ambrogio Cesa-Bianchi
Bank of England
Downloads 68 (413,842)
Citation 7

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Downloads 63 (430,559)
Citation 8

Finance and Synchronization

Bank of England Working Paper No. 612
Number of pages: 38 Posted: 31 Aug 2016
Ambrogio Cesa-Bianchi, Jean M. Imbs, Jean M. Imbs and Jumana Saleheen
Bank of England, Paris School of Economics (PSE)NYU Abu Dhabi and Bank of England
Downloads 63 (436,487)
Citation 3

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Financial Linkages, Business Cycles Synchronization, Contagion, Common Shocks

Finance and Synchronization

CEPR Discussion Paper No. DP11037
Number of pages: 37 Posted: 20 Jan 2016
Ambrogio Cesa-Bianchi, Jean M. Imbs, Jean M. Imbs and Jumana Saleheen
Bank of England, Paris School of Economics (PSE)NYU Abu Dhabi and Bank of England
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Citation 8
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Business Cycle Synchronization, Common Shocks, Contagion, Financial Linkages, Idiosyncratic Shocks

10.

Financial Shocks, Credit Spreads and the International Credit Channel

Bank of England Working Paper No. 693
Number of pages: 40 Posted: 17 Nov 2017
Ambrogio Cesa-Bianchi and Andrej Sokol
Bank of England and Bank of England
Downloads 62 (434,051)
Citation 8

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SVAR, Credit Channel, International Transmission, External Instruments, Sign Restrictions

11.

Towards a New Monetary Theory of Exchange Rate Determination

Bank of England Working Paper No. 817, August 2019
Number of pages: 57 Posted: 30 Aug 2019
Ambrogio Cesa-Bianchi, Michael Kumhof, Andrej Sokol and Gregory Thwaites
Bank of England, CEPR, Bank of England and London School of Economics & Political Science (LSE) - London School of Economics
Downloads 56 (455,752)
Citation 3

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bank lending, money creation, money demand, endogenous money, uncovered interest parity, exchange rate determination, international capital flows, gross capital flows

12.

How Could a Shock to Growth in China Affect Growth in the United Kingdom?

Bank of England Quarterly Bulletin 2016 Q1
Number of pages: 8 Posted: 08 Apr 2016
Ambrogio Cesa-Bianchi and Kate Stratford
Bank of England and Bank of England
Downloads 53 (467,173)
Citation 1

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13.
Downloads 48 (487,432)
Citation 22

International Credit Supply Shocks

Johns Hopkins Carey Business School Research Paper No. 17-14
Number of pages: 72 Posted: 08 Dec 2017
Ambrogio Cesa-Bianchi, Andrea Ferrero and Alessandro Rebucci
Bank of England, University of Oxford - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 23 (640,237)

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Cross-border claims, Capital Flows, Credit Supply Shock, Leverage, Exchange Rates, House Prices, International Financial Intermediation

International Credit Supply Shocks

NBER Working Paper No. w23841
Number of pages: 69 Posted: 25 Sep 2017 Last Revised: 23 Aug 2021
Ambrogio Cesa-Bianchi, Andrea Ferrero and Alessandro Rebucci
Bank of England, University of Oxford - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 15 (702,921)

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International Credit Supply Shocks

Bank of England Working Paper No. 680
Number of pages: 69 Posted: 09 Oct 2017
Ambrogio Cesa-Bianchi, Andrea Ferrero and Alessandro Rebucci
Bank of England, University of Oxford - Department of Economics and Johns Hopkins University - Carey Business School
Downloads 10 (745,518)

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Cross-Border Claims, Capital Flows, Credit Supply Shock, Leverage, Exchange Rates, House Prices, International Financial Intermediation

International Credit Supply Shocks

CEPR Discussion Paper No. DP12501
Number of pages: 74 Posted: 19 Dec 2017
Ambrogio Cesa-Bianchi, Andrea Ferrero and Alessandro Rebucci
Bank of England, University of Oxford - Department of Economics and Johns Hopkins University - Carey Business School
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Citation 18
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Capital Flows, Credit Supply Shock, Cross-border claims, Exchange Rates, House Prices, International Financial Intermediation., leverage

14.

Foreign Booms, Domestic Busts: The Global Dimension of Banking Crises

Bank of England Working Paper No. 644
Number of pages: 49 Posted: 06 Feb 2017
Ambrogio Cesa-Bianchi, Fernando Eguren Martin and Gregory Thwaites
Bank of England, Bank of England and Bank of England - Monetary Analysis
Downloads 47 (491,813)
Citation 9

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Financial crises, global credit cycle, banking, financial stability, sentiment

15.

Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity

IMF Working Paper No. 2020/267
Number of pages: 68 Posted: 26 Jan 2021
Gareth Anderson and Ambrogio Cesa-Bianchi
International Monetary Fund (IMF) and Bank of England
Downloads 25 (607,458)

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The transmission of Keynesian supply shocks

Bank of England Working Paper No. 934
Number of pages: 54 Posted: 09 Aug 2021
Ambrogio Cesa-Bianchi and Andrea Ferrero
Bank of England and University of Oxford - Department of Economics
Downloads 22 (647,837)

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Keynesian supply shocks, input-output matrix, granular fluctuations, approximate factor model

The Transmission of Keynesian Supply Shocks

CEPR Discussion Paper No. DP16430
Number of pages: 56 Posted: 22 Sep 2021
Ambrogio Cesa-Bianchi and Andrea Ferrero
Bank of England and University of Oxford - Department of Economics
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input-output network, Sectoral Shocks

17.

Uncertainty, Financial Frictions and Nominal Rigidities: A Quantitative Investigation

IMF Working Paper No. 17/211
Number of pages: 46 Posted: 25 Oct 2017
Ambrogio Cesa-Bianchi and Emilio Fernández Corugedo
Bank of England and International Monetary Fund (IMF)
Downloads 21 (635,071)
Citation 7

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Business cycles, Uncertainty shocks, Credit frictions, uncertainty, General, Financial Markets and the Macroeconomy

18.

No economy is an island: how foreign shocks affect UK macrofinancial stability

Bank of England Quarterly Bulletin 2021 Q3
Number of pages: 17 Posted: 19 Oct 2021
Ambrogio Cesa-Bianchi, Rosie Dickinson, Sevim Kösem, Simon Lloyd and Ed Manuel
Bank of England, Bank of England, Bank of England, Bank of England and Bank of England
Downloads 18 (725,343)

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19.
Downloads 10 (717,361)

Dash for dollars

Bank of England Working Paper No. 932
Number of pages: 43 Posted: 09 Aug 2021
Ambrogio Cesa-Bianchi and Fernando Eguren Martin
Bank of England and Bank of England
Downloads 10 (745,518)

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Heterogeneity, credit spreads, liquidity, dash-for-cash, US dollar, Covid-19, event-study, identification

Dash for Dollars

CEPR Discussion Paper No. DP16415
Number of pages: 45 Posted: 22 Sep 2021
Ambrogio Cesa-Bianchi and Fernando Eguren Martin
Bank of England and Bank of England
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COVID-19, credit spreads, Dash-for-cash, Event-Study, Heterogeneity, identification, liquidity, Us dollar

20.

Crossing the Credit Channel: Credit Spreads and Firm Heterogeneity

CEPR Discussion Paper No. DP14426
Number of pages: 77 Posted: 03 Mar 2020
Ambrogio Cesa-Bianchi
Bank of England
Downloads 0 (810,019)
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Credit channel, credit spreads, event study, Excess Bond Premium, financial accelerator, Heterogeneity, identification, monetary policy