Luca Sala

University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)

Via Roentgen 1

Milan, 20136

Italy

  • University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)

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SCHOLARLY PAPERS

29

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226

Scholarly Papers (29)

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1.

The Fiscal Theory of the Price Level: Identifying Restrictions and Empirical Evidence

IGIER Working Paper No. 257
Number of pages: 37 Posted: 05 May 2004
Luca Sala
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 427 (137,722)
Citation 10

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Fiscal theory of the price level, monetary and fiscal policy interaction, VAR models, fiscal shocks

2.

An Estimated Monetary DSGE Model with Unemployment and Staggered Nominal Wage Bargaining

Paolo Baffi Centre Research Paper Series No. 2008-24
Number of pages: 61 Posted: 01 Sep 2008
Mark Gertler, Antonella Trigari and Luca Sala
New York University - Leonard N. Stern School of Business - Department of Economics, Bocconi University - Department of Economics and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 247 (247,331)
Citation 83

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3.

Term Structure Forecasting: No-Arbitrage Restrictions versus Large Information Set

Paolo Baffi Centre Research Paper No. 2009-44, Carlo Favero, Linlin Niu, Luca Sala, “Term Structure Forecasting: No-arbitrage Restrictions versus Large Information set”,Journal of Forecasting, 31(2), pp. 124-156, March 2012.
Number of pages: 48 Posted: 04 May 2009 Last Revised: 22 Jan 2022
Carlo A. Favero, Linlin Niu and Luca Sala
Bocconi University - Department of Economics, Xiamen University - Wang Yanan Institute for Studies in Economics (WISE) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 211 (287,653)
Citation 13

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Yield curve, term structure of interest rates, forecasting

4.

Monetary Policy in Real Time

Downloads 175 (341,046)
Citation 37

Monetary Policy in Real Time

IGIER Working Paper No. 284
Number of pages: 33 Posted: 04 Apr 2005
Domenico Giannone, Lucrezia Reichlin and Luca Sala
International Monetary Fund (IMF), London Business School and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 143 (404,576)
Citation 27

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Taylor rules, real time analysis, monetary policy, forecasting, large datasets

Monetary Policy in Real Time

CEPR Discussion Paper No. 4981
Number of pages: 35 Posted: 01 Aug 2005
Domenico Giannone, Lucrezia Reichlin and Luca Sala
International Monetary Fund (IMF), London Business School and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 32 (927,663)
Citation 10
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Taylor rules, real time analysis, monetary policy, forecasting, large datasets

5.

The Output Gap, the Labor Wedge, and the Dynamic Behavior of Hours

Downloads 169 (351,575)
Citation 12

The Output Gap, the Labor Wedge, and the Dynamic Behavior of Hours

Paolo Baffi Centre Research Paper No. 2010-81
Number of pages: 68 Posted: 02 Sep 2010 Last Revised: 20 Nov 2010
Luca Sala, Ulf Soderstrom and Antonella Trigari
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Bocconi University and Bocconi University - Department of Economics
Downloads 85 (593,063)
Citation 5

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Business cycles, Eciency, Labor markets, Monetary Policy

The Output Gap, the Labor Wedge, and the Dynamic Behavior of Hours

Riksbank Research Paper Series No. 77, Sveriges Riksbank Working Paper Series No. 246
Number of pages: 68 Posted: 27 Jan 2011
Luca Sala, Ulf Söderström and Antonella Trigari
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Central Bank of Sweden - Research Department and Bocconi University - Department of Economics
Downloads 80 (615,516)
Citation 7

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Business cycles, Efficiency, Labor markets, Monetary policy

The Output Gap, the Labor Wedge, and the Dynamic Behavior of Hours

CEPR Discussion Paper No. DP8005
Number of pages: 69 Posted: 14 Nov 2010
Luca Sala, Ulf Söderström and Antonella Trigari
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Central Bank of Sweden - Research Department and Bocconi University - Department of Economics
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Business cycles, Efficiency, Labor markets, Monetary policy

6.

Back to Square One: Identification Issues in DSGE Models

Downloads 162 (366,434)
Citation 19

Back to Square One: Identification Issues in DSGE Models

ECB Working Paper No. 583, IGIER Working Paper No. 303, Banco de España Research Paper No. WP-0715
Number of pages: 48 Posted: 03 Feb 2006
Fabio Canova and Luca Sala
BI Norwegian Business School and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 160 (370,249)
Citation 3

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identification, DSGE models

Back to Square One: Identification Issues in DSGE Models

CEPR Discussion Paper No. DP7234
Number of pages: 47 Posted: 07 Apr 2009
Fabio Canova and Luca Sala
BI Norwegian Business School and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 2 (1,280,688)
Citation 16
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DSGE models, Identification, Impulse Responses, small samples

7.

No News in Business Cycles

Paolo Baffi Centre Research Paper No. 2012-126
Number of pages: 41 Posted: 13 Oct 2012
Mario Forni, Luca Gambetti and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, Universitat Autonoma de Barcelona and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 148 (392,942)
Citation 3

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structural factor model, news shocks, invertibility, fundamentalness

8.

Noisy News in Business Cycles

Baffi Center Research Paper No. 2014-159
Number of pages: 45 Posted: 20 Nov 2014
Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, Universitat Autonoma de Barcelona, Dipartimento di Scienze Economiche (DiSSE) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 140 (410,810)
Citation 11

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Nonfundamentalness, SVAR, Imperfect Information, News, Noise, Business cycles

9.

Vars, Common Factors and the Empirical Validation of Equilibrium Business Cycle Models

Downloads 134 (425,134)
Citation 4

Vars, Common Factors and the Empirical Validation of Equilibrium Business Cycle Models

IGIER Working Paper No. 258
Number of pages: 24 Posted: 05 May 2004
Luca Sala, Domenico Giannone and Lucrezia Reichlin
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), International Monetary Fund (IMF) and London Business School
Downloads 114 (487,140)
Citation 1

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Dynamic factor models, structural VARs, identification, equilibrium business cycle models

Vars, Common Factors and the Empirical Validation of Equilibrium Business Cycle Models

Number of pages: 28 Posted: 05 Feb 2003
Domenico Giannone, Lucrezia Reichlin and Luca Sala
International Monetary Fund (IMF), London Business School and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 20 (1,054,796)
Citation 3
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Dynamic factor models, structural VARs, identification, equilibrium business cycle models

10.

Noise Bubbles

Baffi Center Research Paper No. 2014-160
Number of pages: 40 Posted: 20 Nov 2014
Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, Universitat Autonoma de Barcelona, Dipartimento di Scienze Economiche (DiSSE) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 125 (448,630)
Citation 3

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Rational bubbles, structural VARs, noise shocks

11.

Real Interest Rates and Productivity in Small Open Economies

Downloads 113 (484,338)

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 111 (493,762)

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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
Downloads 2 (1,280,688)
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12.

Structural and Cyclical Forces in the Labor Market During the Great Recession: Cross-Country Evidence

Downloads 108 (500,618)
Citation 2

Structural and Cyclical Forces in the Labor Market During the Great Recession: Cross-Country Evidence

Riksbank Research Paper Series No. 95, Sveriges Riksbank Working Paper Series No. 264
Number of pages: 65 Posted: 23 Nov 2012
Luca Sala, Ulf Söderström and Antonella Trigari
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Central Bank of Sweden - Research Department and Bocconi University - Department of Economics
Downloads 60 (724,184)

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Business cycles, financial crisis, labor market matching, Beveridge curve

Structural and Cyclical Forces in the Labor Market During the Great Recession: Cross-Country Evidence

Paolo Baffi Centre Research Paper No. 2012-128
Number of pages: 64 Posted: 20 Oct 2012
Luca Sala, Ulf Soderstrom and Antonella Trigari
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Bocconi University and Bocconi University - Department of Economics
Downloads 48 (795,932)
Citation 2

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business cycles, financial crisis, labor market matching, Beveridge curve

13.

DSGE Models in the Frequency Domain

Paolo Baffi Centre Research Paper No. 2012-130
Number of pages: 41 Posted: 27 Oct 2012
Luca Sala
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 93 (554,344)
Citation 12

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DSGE models, frequency-domain, band maximum likelihood

14.

Tracking Greenspan: Systematic and Unsystematic Monetary Policy Revisited

Number of pages: 47 Posted: 25 Oct 2002
Domenico Giannone, Lucrezia Reichlin and Luca Sala
International Monetary Fund (IMF), London Business School and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 29 (929,345)
Citation 2
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Monetary policy, Taylor rules, monetary shocks, signal extraction, dynamic factor models

15.

Structural and Cyclical Forces in the Labor Market During the Great Recession: Cross-Country Evidence

NBER Working Paper No. w18434
Number of pages: 64 Posted: 06 Oct 2012 Last Revised: 15 May 2023
Luca Sala, Ulf Söderström and Antonella Trigari
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Central Bank of Sweden - Research Department and Bocconi University - Department of Economics
Downloads 26 (958,437)
Citation 2

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16.

Common  Components Svars

Number of pages: 68 Posted: 04 Feb 2024
Marco Marco, Mario Forni, Luca Gambetti and Luca Sala
Einaudi Institute for Economics and Finance (EIEF), Università degli studi di Modena e Reggio Emilia (UNIMORE) - Dipartimento di Economia Marco Biagi di Modena, University of Turin and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 22 (1,010,827)

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Structural VAR models, structural factor models, non-fundamentalness, measurement errors.

17.

No News in Business Cycles

CEPR Discussion Paper No. DP8274
Number of pages: 33 Posted: 14 Mar 2011
Mario Forni, Luca Gambetti and Luca Sala
Università di Modena; Centre for Economic Policy Research (CEPR), Universitat Autonoma de Barcelona and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 10 (1,138,125)
Citation 7
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fundamentalness, invertibility, news shocks, structural factor model

18.

Monetary Policy Under Uncertainty in an Estimated Model with Labour Market Frictions

CEPR Discussion Paper No. DP6826
Number of pages: 47 Posted: 12 Jun 2008
Luca Sala, Ulf Soderstrom and Antonella Trigari
University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER), Bocconi University and Bocconi University - Department of Economics
Downloads 7 (1,173,871)
Citation 1
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Labour market search, Monetary policy, Natural rate uncertainty, Parameter uncertainty, Unemployment

19.

Downside and Upside Uncertainty Shocks

CEPR Discussion Paper No. DP15881
Number of pages: 45 Posted: 15 Mar 2021
Mario Forni, Luca Gambetti and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, University of Turin and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 6 (1,185,435)
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20.

Validating DSGE Models Through Dynamic Factor Models

CEPR Discussion Paper No. DP17379
Number of pages: 42 Posted: 23 Jun 2022
Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Dipartimento di Economia Marco Biagi di Modena, University of Turin, Einaudi Institute for Economics and Finance (EIEF) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 2 (1,228,403)
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21.

Common Component Structural VARs

CEPR Discussion Paper No. DP15529
Number of pages: 46 Posted: 23 Dec 2020
Mario Forni, Luca Gambetti, Marco Marco and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, University of Turin, Einaudi Institute for Economics and Finance (EIEF) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
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22.

Asymmetric Effects of Monetary Policy Easing and Tightening

CEPR Discussion Paper No. DP15005
Number of pages: 39 Posted: 28 Jul 2020 Last Revised: 16 Aug 2020
Davide Debortoli, Mario Forni, Luca Gambetti and Luca Sala
Universitat Pompeu Fabra - Department of Economics and Business, Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, University of Turin and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 2 (1,228,403)
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monetary policy shocks, nonlinear effects, structural VAR models

23.

VAR Information and the Empirical Validation of DSGE Models

CEPR Discussion Paper No. DP11178
Number of pages: 47 Posted: 18 Apr 2016
Mario Forni, Luca Gambetti and Luca Sala
Università di Modena; Centre for Economic Policy Research (CEPR), Universitat Autonoma de Barcelona and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 2 (1,228,403)
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24.

Noise Bubbles

CEPR Discussion Paper No. DP9532
Number of pages: 55 Posted: 02 Jul 2013
Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala
Università di Modena; Centre for Economic Policy Research (CEPR), Universitat Autonoma de Barcelona, Dipartimento di Scienze Economiche (DiSSE) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 2 (1,228,403)
Citation 1
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Noise shocks, Rational bubbles, Structural VARs

25.

Term Structure Forecasting: No-Arbitrage Restrictions vs. Large Information Set

CEPR Discussion Paper No. DP6206
Number of pages: 35 Posted: 21 May 2008
Carlo A. Favero, Linlin Niu and Luca Sala
Bocconi University - Department of Economics, Xiamen University - Wang Yanan Institute for Studies in Economics (WISE) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 2 (1,228,403)
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Factor models, forecasting, large data set, term structure of interest rates, yield curve

26.

The Nonlinear Transmission of Financial Shocks: Some Evidence

CEPR Discussion Paper No. DP17130
Number of pages: 50 Posted: 29 Mar 2022
Mario Forni, Luca Gambetti, Nicolò Maffei-Faccioli and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Dipartimento di Economia Marco Biagi di Modena, University of Turin, Norges Bank and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 1 (1,238,714)
Citation 2
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27.

Macroeconomic Uncertainty and Vector Autoregressions

CEPR Discussion Paper No. DP15692
Number of pages: 39 Posted: 11 Feb 2021
Mario Forni, Luca Gambetti and Luca Sala
Università degli studi di Modena e Reggio Emilia (UNIMORE) - Faculty of Business and Economics, University of Turin and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 1 (1,238,714)
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28.

News, Uncertainty and Economic Fluctuations

CEPR Discussion Paper No. DP12139
Number of pages: 45 Posted: 18 Jul 2017
Mario Forni, Luca Gambetti and Luca Sala
Università di Modena; Centre for Economic Policy Research (CEPR), Universitat Autonoma de Barcelona and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
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29.

Noisy News in Business Cycles

CEPR Discussion Paper No. DP9601
Number of pages: 43 Posted: 20 Aug 2013
Mario Forni, Luca Gambetti, Marco Lippi and Luca Sala
Università di Modena; Centre for Economic Policy Research (CEPR), Universitat Autonoma de Barcelona, Dipartimento di Scienze Economiche (DiSSE) and University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)
Downloads 0 (1,247,884)
Citation 2
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Business cycle, Imperfect information, News, Noise, Nonfundamentalness, SVAR