Pierpaolo Benigno

LUISS Guido Carli University

Viale Romania 32

Rome, Roma 00197

Italy

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

Einaudi Institute for Economics and Finance (EIEF)

Via Due Macelli, 73

Rome, 00187

Italy

SCHOLARLY PAPERS

40

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7,129

CITATIONS
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97

Scholarly Papers (40)

1.
Downloads 2,989 ( 3,600)
Citation 14

Monetary Policy Rules and the Exchange Rate

Number of pages: 61 Posted: 30 Jul 2000
Gianluca Benigno and Pierpaolo Benigno
London School of Economics & Political Science (LSE) - Department of Economics and LUISS Guido Carli University
Downloads 2,964 (3,569)
Citation 33

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Monetary Policy Rules and the Exchange Rate

CEPR Discussion Paper No. 2807
Number of pages: 63 Posted: 30 May 2001
Gianluca Benigno and Pierpaolo Benigno
London School of Economics & Political Science (LSE) - Department of Economics and LUISS Guido Carli University
Downloads 25 (501,316)
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Monetary policy rules, exchange rate regimes, welfare criterion

2.

A Simple Approach to International Monetary Policy Coordination

Number of pages: 33 Posted: 24 Jun 1998
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 1,243 (15,362)
Citation 19

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3.
Downloads 449 ( 62,477)
Citation 77

Price Stability with Imperfect Financial Integration

Number of pages: 49 Posted: 03 Jun 2001
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 422 (66,672)
Citation 103

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Price Stability with Imperfect Financial Integration

CEPR Discussion Paper No. 2854
Number of pages: 53 Posted: 21 Jun 2001
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 27 (489,479)
Citation 64
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Price stability, incomplete markets, optimal monetary policy

Managing the Public Debt in Fiscal Stabilizations: The Evidence

Number of pages: 27 Posted: 13 Nov 1997
Alessandro Missale, Francesco Giavazzi and Pierpaolo Benigno
University of Milan - Department of Business Policy and Economics, University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and LUISS Guido Carli University
Downloads 341 (85,810)
Citation 2

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Managing the Public Debt in Fiscal Stabilizations: The Evidence

NBER Working Paper No. w6311
Number of pages: 31 Posted: 25 Jul 2000
Alessandro Missale, Francesco Giavazzi and Pierpaolo Benigno
University of Milan - Department of Business Policy and Economics, University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and LUISS Guido Carli University
Downloads 27 (489,479)

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Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach

FRB International Finance Discussion Paper No. 806
Number of pages: 73 Posted: 29 May 2004
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 184 (161,763)
Citation 1

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Loss function, output gap, tax smoothing, targeting rules

Optimal Monetary and Fiscal Policy: A Linear-Quadratic Approach

ECB Working Paper No. 345
Number of pages: 83 Posted: 30 Nov 2004
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 146 (197,835)
Citation 54

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Loss function, output gap, tax smoothing, targeting rules

Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach

NBER Working Paper No. w9905
Number of pages: 70 Posted: 19 Aug 2003 Last Revised: 04 Nov 2010
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 24 (507,344)
Citation 32

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How is the Debt Managed? Learning from Fiscal Stabilizations

IGIER Working Paper No. 174
Number of pages: 26 Posted: 13 Dec 2000
Alessandro Missale, Francesco Giavazzi and Pierpaolo Benigno
University of Milan - Department of Business Policy and Economics, University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and LUISS Guido Carli University
Downloads 278 (107,443)
Citation 1

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Credibility, Debt Maturity, Public Debt Management, Stabilization

How is the Debt Managed? Learning from Fiscal Stabilizations

Scandinavian Journal of Economics, Vol. 104, pp. 443-469, 2002
Number of pages: 27 Posted: 04 Jan 2003
Alessandro Missale, Francesco Giavazzi and Pierpaolo Benigno
University of Milan - Department of Business Policy and Economics, University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER) and LUISS Guido Carli University
Downloads 24 (507,344)
Citation 5
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7.

Inflation Persistence and Optimal Monetary Policy in the Euro Area

ECB Working Paper No. 178; FRB International Finance Discussion Paper No. 749
Number of pages: 42 Posted: 14 Jan 2003
Pierpaolo Benigno and David Lopez-Salido
LUISS Guido Carli University and Board of Governors of the Federal Reserve System
Downloads 256 (117,701)
Citation 31

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Optimal Monetary Policy, Currency Areas, Inflation Dynamics

Private Money Creation, Liquidity Crises, and Government Interventions

Number of pages: 53 Posted: 24 Apr 2017 Last Revised: 17 Jul 2019
Pierpaolo Benigno and Roberto Robatto
LUISS Guido Carli University and University of Wisconsin - Madison
Downloads 117 (235,584)
Citation 3

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Private Money Creation and Equilibrium Liquidity

CEPR Discussion Paper No. DP11242
Number of pages: 51 Posted: 04 May 2016
Pierpaolo Benigno and Roberto Robatto
LUISS Guido Carli University and University of Wisconsin - Madison
Downloads 1 (675,099)
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9.

New-Keynesian Economics: An As-Ad View

NBER Working Paper No. w14824
Number of pages: 47 Posted: 29 Mar 2009 Last Revised: 05 Jul 2010
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 103 (256,558)
Citation 2

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Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility

IMF Working Paper No. 10/259
Number of pages: 50 Posted: 01 Feb 2011
Pierpaolo Benigno, Paolo Surico and Luca Antonio Ricci
LUISS Guido Carli University, London Business School - Department of Economics and affiliation not provided to SSRN
Downloads 54 (376,229)

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Business cycles, Economic models, Labor markets, Productivity, Time series, Unemployment, United States, Wage adjustments, Wages

Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility

NBER Working Paper No. w16374
Number of pages: 39 Posted: 20 Sep 2010 Last Revised: 21 Oct 2010
Pierpaolo Benigno, Luca A. Ricci and Paolo Surico
LUISS Guido Carli University, International Monetary Fund (IMF) - Research Department and London Business School - Department of Economics
Downloads 21 (526,164)
Citation 7

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Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility

MEF Working Paper No. 5
Number of pages: 44 Posted: 10 May 2011
Pierpaolo Benigno, Luca A. Ricci and Paolo Surico
LUISS Guido Carli University, International Monetary Fund (IMF) - Research Department and London Business School - Department of Economics
Downloads 15 (564,666)

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Unemployment, Productivity growth, Volatility

Unemployment and Productivity in the Long Run: The Role of Macroeconomic Volatility

CEPR Discussion Paper No. DP8014
Number of pages: 50 Posted: 14 Nov 2010
Pierpaolo Benigno, Luca A. Ricci and Paolo Surico
LUISS Guido Carli University, International Monetary Fund (IMF) - Research Department and London Business School - Department of Economics
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downward wage rigidities, productivity, unemployment, volatility

11.

Designing Targeting Rules for International Monetary Policy Cooperation

ECB Working Paper No. 279
Number of pages: 47 Posted: 19 Jan 2004
Gianluca Benigno and Pierpaolo Benigno
London School of Economics & Political Science (LSE) - Department of Economics and LUISS Guido Carli University
Downloads 92 (276,237)
Citation 76

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Monetary policy cooperation, sticky prices, welfare analysis, targeting rules, inflation target

The Inflation-Unemployment Trade-Off at Low Inflation

IMF Working Paper No. 09/34
Number of pages: 48 Posted: 18 Mar 2009
Pierpaolo Benigno and Luca A. Ricci
LUISS Guido Carli University and International Monetary Fund (IMF) - Research Department
Downloads 55 (372,924)

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Working Papers

The Inflation-Unemployment Trade-Off at Low Inflation

NBER Working Paper No. w13986
Number of pages: 46 Posted: 12 May 2008 Last Revised: 20 Sep 2010
Pierpaolo Benigno and Luca A. Ricci
LUISS Guido Carli University and International Monetary Fund (IMF) - Research Department
Downloads 16 (558,069)

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Linear-Quadratic Approximation of Optimal Policy Problems

NBER Working Paper No. w12672
Number of pages: 73 Posted: 20 Nov 2006 Last Revised: 18 Aug 2010
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 48 (396,955)
Citation 1

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Linear-Quadratic Approximation of Optimal Policy Problems

CEPR Discussion Paper No. 5964
Number of pages: 71 Posted: 05 Jan 2007
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 18 (545,323)
Citation 36
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Optimization

Long-Run Determinants of Inflation Differentials in a Monetary Union

NBER Working Paper No. w11473
Number of pages: 38 Posted: 09 Aug 2005 Last Revised: 23 Jul 2009
Brevan Howard Asset Management LLP, LUISS Guido Carli University and European Central Bank (ECB)
Downloads 40 (427,647)

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Long-Run Determinants of Inflation Differentials in a Monetary Union

CEPR Discussion Paper No. 5149
Number of pages: 40 Posted: 17 Aug 2005
Brevan Howard Asset Management LLP, LUISS Guido Carli University and European Central Bank (ECB)
Downloads 21 (526,164)
Citation 7
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Currency area, real exchange rate, PPP

Optimal Taxation in an RBC Model: A Linear-Quadratic Approach

NBER Working Paper No. w11029
Number of pages: 58 Posted: 02 Feb 2005 Last Revised: 22 Aug 2010
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 35 (449,312)

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Optimal Taxation in an RBC Model: A Linear-Quadratic Approach

CEPR Discussion Paper No. 4764
Number of pages: 59 Posted: 15 Feb 2005
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 13 (577,854)
Citation 17
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Optimal taxation, LQ solution

Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State

NBER Working Paper No. w10839
Number of pages: 55 Posted: 27 Oct 2004 Last Revised: 15 Aug 2010
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 32 (463,088)

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Optimal Stabilization Policy When Wages and Prices are Sticky: The Case of a Distorted Steady State

CEPR Discussion Paper No. 4740
Number of pages: 77 Posted: 31 Jan 2005
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 15 (564,666)
Citation 7
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Optimal monetary policy, sticky prices, sticky wages

17.

Optimal Monetary Policy in a Currency Area

CEPR Discussion Paper No. 2755
Number of pages: 75 Posted: 17 Apr 2001
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 46 (396,866)
Citation 146
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Currency area, optimal monetary policy, sticky prices, welfare criterion

Overconfidence, Subjective Perception and Pricing Behavior

NBER Working Paper No. w11922
Number of pages: 46 Posted: 11 Apr 2006 Last Revised: 31 Jul 2010
Pierpaolo Benigno and Anastasios G. Karantounias
LUISS Guido Carli University and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 31 (468,192)

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Overconfidence, Subjective Perception, and Pricing Behavior

FRB Atlanta Working Paper No. 2017-14
Number of pages: 50 Posted: 03 Jan 2018 Last Revised: 07 Jun 2019
Pierpaolo Benigno and Anastasios G. Karantounias
LUISS Guido Carli University and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 13 (577,854)

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overconfidence, imperfect common knowledge, information acquisition, inflation volatility

19.

Inflation Stabilization and Welfare: The Case of a Distorted Steady State

NBER Working Paper No. w10838
Number of pages: 63 Posted: 27 Oct 2004 Last Revised: 14 Aug 2010
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 38 (426,792)
Citation 119

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20.

Globalization, Pass-Through and Inflation Dynamic

NBER Working Paper No. w15842
Number of pages: 42 Posted: 29 Mar 2010
Pierpaolo Benigno and Ester Faia
LUISS Guido Carli University and Goethe University Frankfurt
Downloads 35 (439,007)
Citation 10

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21.

Monetary Policy, Doubts and Asset Prices

NBER Working Paper No. w16386
Number of pages: 36 Posted: 27 Sep 2010 Last Revised: 17 Oct 2010
Pierpaolo Benigno and Luigi Paciello
LUISS Guido Carli University and Einaudi Institute for Economics and Finance (EIEF)
Downloads 32 (451,764)
Citation 12

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22.

Implementing Monetary Cooperation Through Inflation Targeting

CEPR Discussion Paper No. 3226
Number of pages: 29 Posted: 14 Mar 2002
Gianluca Benigno and Pierpaolo Benigno
London School of Economics & Political Science (LSE) - Department of Economics and LUISS Guido Carli University
Downloads 31 (456,447)
Citation 6
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International monetary cooperation, monetary delegation

23.

International Portfolio Allocation Under Model Uncertainty

NBER Working Paper No. w14734
Number of pages: 39 Posted: 21 Feb 2009 Last Revised: 01 Jan 2010
Pierpaolo Benigno and Salvatore Nistico
LUISS Guido Carli University and affiliation not provided to SSRN
Downloads 30 (461,116)
Citation 14

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24.

Optimal Inflation Targeting Under Alternative Fiscal Regimes

NBER Working Paper No. w12158
Number of pages: 42 Posted: 18 May 2006 Last Revised: 22 Sep 2010
Pierpaolo Benigno and Michael Woodford
LUISS Guido Carli University and Columbia University, Graduate School of Arts and Sciences, Department of Economics
Downloads 28 (470,804)
Citation 9

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25.

Price Stability as a Nash Equilibrium in Monetary Open-Economy Models

CEPR Discussion Paper No. 2757
Number of pages: 33 Posted: 18 Apr 2001
Gianluca Benigno and Pierpaolo Benigno
London School of Economics & Political Science (LSE) - Department of Economics and LUISS Guido Carli University
Downloads 25 (486,616)
Citation 102
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Nash equilibrium, open economy, optimal monetary policy, price stability

26.

Are Valuation Effects Desirable from a Global Perspective?

NBER Working Paper No. w12219
Number of pages: 47 Posted: 17 Jul 2006 Last Revised: 19 Jul 2009
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 22 (503,271)
Citation 10

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27.

Risk, Monetary Policy and the Exchange Rate

NBER Working Paper No. w17133
Number of pages: 55 Posted: 20 Jun 2011
Gianluca Benigno, Pierpaolo Benigno and Salvatore Nisticò
London School of Economics & Political Science (LSE) - Department of Economics, LUISS Guido Carli University and University of Rome I
Downloads 21 (509,031)
Citation 7

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Second-Order Approximation of Dynamic Models with Time-Varying Risk

NBER Working Paper No. w16633
Number of pages: 25 Posted: 27 Dec 2010
Gianluca Benigno, Pierpaolo Benigno and Salvatore Nistico
London School of Economics & Political Science (LSE) - Department of Economics, LUISS Guido Carli University and affiliation not provided to SSRN
Downloads 17 (551,773)

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Second Order Approximation of Dynamic Models with Time-Varying Risk

CEPR Discussion Paper No. DP8177
Number of pages: 27 Posted: 18 Jan 2011
Gianluca Benigno, Pierpaolo Benigno and Salvatore Nistico
London School of Economics & Political Science (LSE) - Department of Economics, LUISS Guido Carli University and affiliation not provided to SSRN
Downloads 3 (649,306)
Citation 10
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second order approximation, stochastic volatility and uncertainty

29.

Portfolio Choices with Near Rational Agents: A Solution of Some International-Finance Puzzles

NBER Working Paper No. w13173
Number of pages: 41 Posted: 27 Jun 2007 Last Revised: 01 Jul 2010
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 20 (514,680)

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30.

High Public Debt in Currency Crises: Fundamentals Versus Signalling Effects

CEPR Discussion Paper No. 2862
Number of pages: 34 Posted: 24 Jul 2001
Pierpaolo Benigno and Alessandro Missale
LUISS Guido Carli University and University of Milan - Department of Business Policy and Economics
Downloads 19 (520,531)
Citation 8
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Credibility, nominal debt maturity, fixed exchange rates, yield curve

31.
Downloads 18 (526,342)
Citation 9

Debt Deleveraging and the Exchange Rate

NBER Working Paper No. w17944
Number of pages: 46 Posted: 31 Mar 2012
Pierpaolo Benigno and Federica Romei
LUISS Guido Carli University and LUISS Guido Carli University
Downloads 17 (551,773)
Citation 15

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Debt Deleveraging and the Exchange Rate

CEPR Discussion Paper No. DP8938
Number of pages: 43 Posted: 25 May 2012
Pierpaolo Benigno and Federica Romei
LUISS Guido Carli University and LUISS Guido Carli University
Downloads 1 (675,099)
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Current Account adjustment

32.

The Inflation-Output Trade-Off with Downward Wage Rigidities

NBER Working Paper No. w15762
Number of pages: 40 Posted: 22 Feb 2010 Last Revised: 28 Jul 2010
Pierpaolo Benigno and Luca A. Ricci
LUISS Guido Carli University and International Monetary Fund (IMF) - Research Department
Downloads 15 (543,691)
Citation 35

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Inefficiency and Regulation of Private Liquidity

Number of pages: 46 Posted: 25 Apr 2019 Last Revised: 28 Apr 2019
Pierpaolo Benigno and Roberto Robatto
LUISS Guido Carli University and University of Wisconsin - Madison
Downloads 9 (604,952)

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Private liquidity creation, safe assets, risky liquidity, capital requirements, financial regulation

Inefficiency and Regulation of Private Liquidity

CEPR Discussion Paper No. DP13631
Number of pages: 49 Posted: 01 Apr 2019
Pierpaolo Benigno and Roberto Robatto
LUISS Guido Carli University and University of Wisconsin - Madison
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Dynamic Debt Deleveraging and Optimal Monetary Policy

NBER Working Paper No. w20556
Number of pages: 48 Posted: 06 Oct 2014
Pierpaolo Benigno, Gauti B. Eggertsson and Federica Romei
LUISS Guido Carli University, Federal Reserve Bank of New York and LUISS Guido Carli University
Downloads 8 (611,814)

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Dynamic Debt Deleveraging and Optimal Monetary Policy

CEPR Discussion Paper No. DP11180
Number of pages: 55 Posted: 18 Apr 2016
Pierpaolo Benigno, Gauti B. Eggertsson and Federica Romei
LUISS Guido Carli University, Federal Reserve Bank of New York and LUISS Guido Carli University
Downloads 1 (675,099)
Citation 3
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35.

Designing Central Banks for Inflation Stability

CEPR Discussion Paper No. DP11402
Number of pages: 32 Posted: 25 Jul 2016
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 3 (620,272)
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36.

Monetary Policy in a World of Cryptocurrencies

CEPR Discussion Paper No. DP13517
Number of pages: 36 Posted: 11 Feb 2019 Last Revised: 29 Apr 2019
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 1 (642,869)
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37.

A Central Bank Theory of Price Level Determination

CEPR Discussion Paper No. DP11966
Number of pages: 52 Posted: 25 Apr 2017 Last Revised: 19 Feb 2018
Pierpaolo Benigno
LUISS Guido Carli University
Downloads 1 (642,869)
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38.

Safe Assets, Liquidity and Monetary Policy

CEPR Discussion Paper No. DP9767
Number of pages: 46 Posted: 02 Dec 2013
Pierpaolo Benigno and Salvatore Nistico
LUISS Guido Carli University and affiliation not provided to SSRN
Downloads 1 (642,869)
Citation 8
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liquidity crisis, unconventional policies, zero lower bound

39.

Private Money Creation, Liquidity Crises, and Government Intervention

CEPR Discussion Paper No. DP13091
Number of pages: 56 Posted: 06 Aug 2018
Pierpaolo Benigno and Roberto Robatto
LUISS Guido Carli University and University of Wisconsin - Madison
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40.

Non-Neutrality of Open-Market Operations

CEPR Discussion Paper No. DP10594
Number of pages: 62 Posted: 19 May 2015
Pierpaolo Benigno and Salvatore Nisticò
LUISS Guido Carli University and University of Rome I
Downloads 0 (661,060)
Citation 1
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central bank's balance sheet, QE, unconventional monetary policy