Tommaso Monacelli

Bocconi University - Department of Economics

Via Gobbi 5

Milan, 20136

Italy

SCHOLARLY PAPERS

32

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3,016

SSRN CITATIONS
Rank 356

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Top 356

in Total Papers Citations

550

CROSSREF CITATIONS

1,894

Scholarly Papers (32)

Monetary Policy and Exchange Rate Volatility in a Small Open Economy

UPF Economics and Business Working Paper 835
Number of pages: 39 Posted: 29 Nov 2005
Jordi Galí and Tommaso Monacelli
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Bocconi University - Department of Economics
Downloads 389 (89,610)
Citation 38

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Small open economy, optimal monetary policy, sticky prices, exchange rate peg, exchange rate volatility

Monetary Policy and Exchange Rate Volatility in a Small Open Economy

NBER Working Paper No. w8905
Number of pages: 45 Posted: 18 Apr 2002 Last Revised: 07 Jul 2005
Jordi Galí and Tommaso Monacelli
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Bocconi University - Department of Economics
Downloads 69 (394,135)
Citation 4

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Monetary Policy and Exchange Rate Volatility in a Small Open Economy

Number of pages: 47 Posted: 04 Jun 2002
Jordi Galí and Tommaso Monacelli
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Bocconi University - Department of Economics
Downloads 28 (573,486)
Citation 78
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Small open economy, optimal monetary policy, sticky prices, exchange rate peg, exchange rate volatility

2.

Fiscal Policy Rules and Regime (In)Stability: Evidence from the U.S.

IGIER Working Paper No. 282
Number of pages: 31 Posted: 14 Feb 2005
Carlo A. Favero and Tommaso Monacelli
Bocconi University - Department of Finance and Bocconi University - Department of Economics
Downloads 484 (69,744)
Citation 55

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Active and passive fiscal policy rule, Markov-switching estimation, monetary policy rule

3.

Housing Finance and Monetary Policy

ECB Working Paper No. 1069
Number of pages: 51 Posted: 18 Jul 2009
Alessandro Calza, Tommaso Monacelli and Livio Stracca
European Central Bank (ECB), Bocconi University - Department of Economics and European Central Bank (ECB)
Downloads 366 (96,967)
Citation 30

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Housing finance, mortgage markets, collateral constraint, monetary policy

4.

Monetary Policy in a Low Pass-Through Environment

Number of pages: 50 Posted: 28 Apr 2003
Tommaso Monacelli
Bocconi University - Department of Economics
Downloads 312 (115,794)
Citation 6

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deviations from the law of one price, policy trade-off, gains from commitment, exchange rate channel

5.

Monetary-Fiscal Mix and Inflation Performance: Evidence from the U.S.

IGIER Working Paper No. 234
Number of pages: 28 Posted: 04 Jun 2003
Carlo A. Favero and Tommaso Monacelli
Bocconi University - Department of Finance and Bocconi University - Department of Economics
Downloads 206 (175,403)
Citation 20

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Monetary and Fiscal Policy Rules, Markov Switching, Inflation

Optimal Monetary Policy Rules, Asset Prices and Credit Frictions

IGIER Working Paper No. 279
Number of pages: 44 Posted: 03 Feb 2005
Ester Faia and Tommaso Monacelli
Goethe University Frankfurt and Bocconi University - Department of Economics
Downloads 183 (195,252)
Citation 11

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Optimal monetary policy rules, financial distortions, price stability, asset prices

Optimal Monetary Policy Rules, Asset Prices and Credit Frictions

Number of pages: 46 Posted: 25 May 2005
Ester Faia and Tommaso Monacelli
Goethe University Frankfurt and Bocconi University - Department of Economics
Downloads 13 (683,224)
Citation 6
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Optimal monetary policy rules, financial distortions, price stability, asset prices

7.
Downloads 192 (187,063)
Citation 4

Financial Markets and Unemployment

Paolo Baffi Centre Research Paper No. 2012-129, Marshall School of Business Working Paper No. FBE 01.13
Number of pages: 53 Posted: 26 Oct 2012
Tommaso Monacelli, Vincenzo Quadrini and Antonella Trigari
Bocconi University - Department of Economics, University of Southern California - Marshall School of Business - Finance and Business Economics Department and Bocconi University - Department of Economics
Downloads 170 (208,415)
Citation 5

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limited enforcement, wage bargaining, unemployment, credit shocks

Financial Markets and Unemployment

NBER Working Paper No. w17389
Number of pages: 44 Posted: 21 Sep 2011
Tommaso Monacelli, Vincenzo Quadrini and Antonella Trigari
Bocconi University - Department of Economics, University of Southern California - Marshall School of Business - Finance and Business Economics Department and Bocconi University - Department of Economics
Downloads 22 (614,862)

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8.
Downloads 108 (296,266)
Citation 1

Fiscal Policy, Wealth Effects, and Markups

NBER Working Paper No. w14584
Number of pages: 56 Posted: 29 Dec 2008 Last Revised: 23 Jan 2009
Tommaso Monacelli and Roberto Perotti
Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 108 (297,987)
Citation 1

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Fiscal Policy, Wealth Effects and Markups

CEPR Discussion Paper No. DP7099
Posted: 17 Feb 2009
Tommaso Monacelli and Roberto Perotti
Bocconi University - Department of Economics and Bocconi University - Department of Economics

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Government spending, markup, private consumption, wealth effect

9.

Commitment, Discretion and Fixed Exchange Rates in an Open Economy

IGIER Working Paper No. 233
Number of pages: 32 Posted: 26 May 2003
Tommaso Monacelli
Bocconi University - Department of Economics
Downloads 98 (316,110)
Citation 2

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Optimal monetary policy, commitment, discretion, fixed exchange rates

Ramsey Monetary Policy and International Relative Prices

Number of pages: 57 Posted: 09 Jun 2004
Tommaso Monacelli and Ester Faia
Bocconi University - Department of Economics and Goethe University Frankfurt
Downloads 80 (361,904)

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optimal monetary policy, Ramsey planner, Nash equilibrium, cooperation, sticky prices, imperfect competition

Ramsey Monetary Policy and International Relative Prices

Number of pages: 45 Posted: 11 Jun 2004
Ester Faia and Tommaso Monacelli
Goethe University Frankfurt and Bocconi University - Department of Economics
Downloads 13 (683,224)
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Optimal monetary policy, Ramsey planner, Nash equilibrium, cooperation, sticky prices, imperfect competition

11.

Optimal Monetary and Fiscal Policy in a Currency Union

IGIER Working Paper No. 300
Number of pages: 40 Posted: 19 Dec 2005
Tommaso Monacelli and Jordi Galí
Bocconi University - Department of Economics and Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI)
Downloads 89 (336,035)
Citation 1

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monetary union, sticky prices, countercyclical policy, inflation differentials

12.

How Institutions Shape the Distributive Impact of Macroeconomic Shocks: A DSGE Analysis

Number of pages: 51 Posted: 10 Aug 2012
Rudiger Ahrend, Charlotte Moeser and Tommaso Monacelli
Centre for Entrepreneurship, SMEs, Regions and Cities, OECD and Bocconi University - Department of Economics
Downloads 75 (371,920)

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DSGE, heterogeneous agents, credit frictions, shocks, income distribution, institutions

13.
Downloads 50 (454,645)
Citation 112

Optimal Monetary and Fiscal Policy in a Currency Union

NBER Working Paper No. w11815
Number of pages: 40 Posted: 19 Feb 2006 Last Revised: 01 Aug 2009
Jordi Galí and Tommaso Monacelli
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Bocconi University - Department of Economics
Downloads 31 (555,157)
Citation 7

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Optimal Monetary and Fiscal Policy in a Currency Union

CEPR Discussion Paper No. 5374
Number of pages: 42 Posted: 20 Feb 2006
Jordi Galí and Tommaso Monacelli
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Bocconi University - Department of Economics
Downloads 19 (636,826)
Citation 27
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Monetary union, sticky prices, countercyclical policy, inflation differentials

14.

Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints

NBER Working Paper No. w12470
Number of pages: 53 Posted: 30 Aug 2006 Last Revised: 28 Jan 2021
Tommaso Monacelli
Bocconi University - Department of Economics
Downloads 40 (496,877)
Citation 5

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15.
Downloads 35 (520,492)
Citation 51

Unemployment Fiscal Multipliers

NBER Working Paper No. w15931
Number of pages: 53 Posted: 26 Apr 2010 Last Revised: 14 Jul 2010
Tommaso Monacelli, Roberto Perotti and Antonella Trigari
Bocconi University - Department of Economics, Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 33 (543,866)

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Unemployment Fiscal Multipliers

CEPR Discussion Paper No. DP7728
Number of pages: 55 Posted: 17 Mar 2010
Tommaso Monacelli, Roberto Perotti and Antonella Trigari
Bocconi University - Department of Economics, Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 2 (776,944)
Citation 8
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fiscal policy, labor market, unemployment

16.
Downloads 33 (530,760)

Bewley Banks

Number of pages: 71 Posted: 03 Dec 2020 Last Revised: 31 Mar 2021
Rustam Jamilov and Tommaso Monacelli
London Business School and Bocconi University - Department of Economics
Downloads 33 (543,866)

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Business Cycles, Bank Heterogeneity, Financial Heterogeneity, Heterogeneous Agents, General Equilibrium

Bewley Banks

CEPR Discussion Paper No. DP15428
Number of pages: 71 Posted: 02 Dec 2020
Rustam Jamilov and Tommaso Monacelli
London Business School and Bocconi University - Department of Economics
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Real Interest Rates and Productivity in Small Open Economies

Banque de France Working Paper No. 704
Number of pages: 54 Posted: 31 Dec 2018
Tommaso Monacelli, Luca Sala and Daniele Siena
Bocconi University - Department of Economics, University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and Banque de France
Downloads 27 (579,889)

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World Interest Rates, Financial Frictions, Firms' Heterogeneity, Small Open Economies

Real Interest Rates and Productivity in Small Open Economies

CEPR Discussion Paper No. DP12808
Number of pages: 54 Posted: 26 Mar 2018
Tommaso Monacelli, Luca Sala and Daniele Siena
Bocconi University - Department of Economics, University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and Banque de France
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18.

Optimal Monetary Policy in a Small Open Economy with Home Bias

CEPR Discussion Paper No. 5522
Number of pages: 35 Posted: 14 Jun 2006
Ester Faia and Tommaso Monacelli
Goethe University Frankfurt and Bocconi University - Department of Economics
Downloads 23 (589,236)
Citation 14
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Optimal monetary policy, Ramsey planner, home bias, sticky prices

19.

Monetary-Fiscal Mix and Inflation Performance: Evidence from the Us

Number of pages: 30 Posted: 17 Jun 2003
Carlo A. Favero and Tommaso Monacelli
Bocconi University - Department of Finance and Bocconi University - Department of Economics
Downloads 23 (589,236)
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Monetary and fiscal policy rules, Markov switching, inflation

20.

New Keynesian Models, Durable Goods and Collateral Constraints

CEPR Discussion Paper No. 5916
Number of pages: 47 Posted: 29 Dec 2006
Tommaso Monacelli
Bocconi University - Department of Economics
Downloads 19 (615,768)
Citation 8
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Durable goods, sticky prices, collateral constraint

21.

Is Government Spending at the Zero Lower Bound Desirable?

NBER Working Paper No. w20687
Number of pages: 54 Posted: 24 Nov 2014
Florin Bilbiie, Tommaso Monacelli and Roberto Perotti
Université Paris I Panthéon-Sorbonne, Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 17 (629,401)

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Understanding the Gains from Wage Flexibility: The Exchange Rate Connection

NBER Working Paper No. w22489
Number of pages: 38 Posted: 08 Aug 2016 Last Revised: 04 Dec 2020
Jordi Galí and Tommaso Monacelli
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Bocconi University - Department of Economics
Downloads 17 (651,890)
Citation 5

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Understanding the Gains from Wage Flexibility: The Exchange Rate Connection

CEPR Discussion Paper No. DP9806
Number of pages: 55 Posted: 02 Jun 2014
Jordi Galí and Tommaso Monacelli
Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Bocconi University - Department of Economics
Downloads 0
Citation 14
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currency unions, exchange rate policy, exchange rate regime, monetary policy rules., New Keynesian model, nominal rigidities, stabilization policies, stabilization policy, sticky wages

Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter?

CEPR Discussion Paper No. DP6231
Number of pages: 61 Posted: 22 May 2008
Alessandro Calza, Tommaso Monacelli and Livio Stracca
European Central Bank (ECB), Bocconi University - Department of Economics and European Central Bank (ECB)
Downloads 9 (715,281)
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Collateral constraint, house prices, monetary policy, mortgage markets

Mortgage Markets, Collateral Constraints, and Monetary Policy: Do Institutional Factors Matter?

CFS Working Paper No. 2007/10
Posted: 08 Mar 2007
Alessandro Calza, Tommaso Monacelli and Livio Stracca
European Central Bank (ECB), Bocconi University - Department of Economics and European Central Bank (ECB)

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House Prices, Mortgage Markets, Collateral Constraint, Monetary Policy

24.

Fiscal Policy in Europe: A Helicopter View

NBER Working Paper No. w28117
Number of pages: 21 Posted: 23 Nov 2020
Florin Bilbiie, Tommaso Monacelli and Roberto Perotti
University of Lausanne, Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 6 (709,727)
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25.

Public Debt and Redistribution with Borrowing Constraints

CEPR Discussion Paper No. DP9088
Number of pages: 42 Posted: 28 Sep 2012
Florin Ovidiu Bilbiie, Tommaso Monacelli and Roberto Perotti
University of Oxford, Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 4 (725,089)
Citation 4
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borrowing constraint, public debt, redistribution, tax cuts

26.

Redistribution and the Multiplier

CEPR Discussion Paper No. DP8641
Number of pages: 35 Posted: 24 Nov 2011
Tommaso Monacelli and Roberto Perotti
Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 3 (733,376)
Citation 1
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27.

Is Monetary Policy in an Open Economy Fundamentally Different?

CEPR Discussion Paper No. DP9087
Number of pages: 25 Posted: 28 Sep 2012
Tommaso Monacelli
Bocconi University - Department of Economics
Downloads 2 (743,400)
Citation 3
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consumption imports, exchange rate, imported inputs, monetary policy, openness, trade

28.

Fiscal Policy in Europe: A Helicopter View

CEPR Discussion Paper No. DP15382
Number of pages: 22 Posted: 03 Nov 2020
Florin Ovidiu Bilbiie, Tommaso Monacelli and Roberto Perotti
University of Oxford, Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 1 (755,644)
Citation 1
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29.

Deleverage and Financial Fragility

CEPR Discussion Paper No. DP10531
Number of pages: 42 Posted: 09 Apr 2015
Marco Maffezzoli and Tommaso Monacelli
Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 1 (755,644)
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aggregate fluctuations, deleverage, financial fragility, nonlinearities

30.

Is Government Spending at the Zero Lower Bound Desirable?

CEPR Discussion Paper No. DP10210
Number of pages: 57 Posted: 21 Oct 2014
Florin Ovidiu Bilbiie, Tommaso Monacelli and Roberto Perotti
University of Oxford, Bocconi University - Department of Economics and Bocconi University - Department of Economics
Downloads 1 (755,644)
Citation 3
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government spending multiplier, welfare, zero lower bound

31.

Stabilization vs. Redistribution: the Optimal Monetary-Fiscal Mix

CEPR Discussion Paper No. DP15199
Number of pages: 41 Posted: 12 Sep 2020
Florin Ovidiu Bilbiie and Tommaso Monacelli
University of Oxford and Bocconi University - Department of Economics
Downloads 0 (773,710)
Citation 1
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aggregate demand, inequality, Optimal Monetary-Fiscal Policy, redistribution, TANK

32.

The Inherent Benefit of Monetary Unions

CEPR Discussion Paper No. DP11416
Number of pages: 58 Posted: 01 Aug 2016
Dominik Groll and Tommaso Monacelli
Kiel Institute for the World Economy and Bocconi University - Department of Economics
Downloads 0 (773,710)
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commitment, discretion, flexible exchange rates, monetary union, nominal rigidities., welfare losses