Massimiliano Pisani

Bank of Italy

Via Nazionale 91

Rome, 00184

Italy

SCHOLARLY PAPERS

51

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886

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815

Scholarly Papers (51)

1.

Monetary-Fiscal Policy Interactions in the Euro Area

ECB Occasional Paper No. 2021/273
Number of pages: 130 Posted: 23 Sep 2021 Last Revised: 04 Feb 2022
International Monetary Fund (IMF) - Research Department, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General Economics, Banco de España, European Central Bank (ECB), European Central Bank (ECB), Morgan Stanley, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, Banco de España, European Central Bank (ECB), European Central Bank (ECB), Deutsche BundesbankEuropean Central Bank (ECB)University of Kiel, European Central Bank (ECB), European Central Bank, University of Bonn, European Central Bank (ECB), European Central Bank (ECB), University of Auckland, Banco de España, European Central Bank (ECB), Deutsche Bundesbank, European Central Bank (ECB), European Central Bank (ECB), Banque de France, European Central Bank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) - Directorate General Economics, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Goethe University Frankfurt, European Central Bank (ECB), Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), Banque de France, De Nederlandsche Bank, Bank of Italy, New University of Lisbon - Nova School of Business and Economics, Bank of Portugal, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank - Research Department, European Central Bank (ECB), Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, European Central Bank (ECB), University of Essex - Institute for Social and Economic Research (ISER) and European Central Bank (ECB)
Downloads 289 (169,521)
Citation 1

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Fiscal Policy, Monetary Policy, Monetary Union

2.

Risk-Adjusted Forecasts of Oil Prices

Bank of Italy Economic Research Paper No. 585, ECB Working Paper No. 999
Number of pages: 38 Posted: 12 May 2006
Patrizio Pagano and Massimiliano Pisani
Bank of Italy and Bank of Italy
Downloads 284 (172,657)
Citation 30

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Oil, Forecasting, Futures

3.

Macroeconomic Effects of China’s Fiscal Stimulus

IDB Working Paper No. 72
Number of pages: 28 Posted: 25 Apr 2011
Pietro Cova, Massimiliano Pisani and Alessandro Rebucci
Bank of Italy, Bank of Italy and Johns Hopkins University - Carey Business School
Downloads 234 (209,330)
Citation 7

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4.

Comparing Fiscal Multipliers Across Models and Countries in Europe

ECB Working Paper No. 1760
Number of pages: 48 Posted: 12 Mar 2015
Bank of Finland - Research, Bank of Italy, European Central Bank (ECB), Sveriges Riksbank - Monetary Policy, Czech National Bank, Goethe University Frankfurt, Banco de España, Bank of Portugal, Bank of Estonia, Banque de France, Central Bank of Ireland, Sveriges Riksbank, Bank of Portugal, Central Bank of Malta - Modelling and Research Office, Bank of Greece, Czech National Bank (CNB), Bank of Greece, Banco de España and National Bank of BelgiumFacultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences
Downloads 226 (216,472)
Citation 13

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fiscal policy, output multipliers, model comparison, zero lower bound

5.
Downloads 217 (224,999)
Citation 3

New Shocks, Exchange Rates and Equity Prices

IMF Working Paper No. 08/284
Number of pages: 38 Posted: 18 Dec 2008
Akito Matsumoto, Pietro Cova, Massimiliano Pisani and Alessandro Rebucci
International Monetary Fund (IMF), Bank of Italy, Bank of Italy and Johns Hopkins University - Carey Business School
Downloads 103 (414,140)

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Working Paper

News Shocks and Asset Price Volatility in General Equilibrium

IDB Working Paper No. IDB-WP-252
Number of pages: 38 Posted: 15 Aug 2011
Akito Matsumoto, Pietro Cova, Massimiliano Pisani and Alessandro Rebucci
International Monetary Fund (IMF), Bank of Italy, Bank of Italy and Johns Hopkins University - Carey Business School
Downloads 61 (567,744)
Citation 2

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New Shocks and Asset Price Volatility in General Equilibrium

IMF Working Paper No. 11/110
Number of pages: 35 Posted: 20 May 2011
Akito Matsumoto, Pietro Cova, Massimiliano Pisani and Alessandro Rebucci
International Monetary Fund (IMF), Bank of Italy, Bank of Italy and Johns Hopkins University - Carey Business School
Downloads 53 (608,182)

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Asset prices, Business cycles, Economic models, External shocks, Monetary policy, Productivity, Stock prices

6.

Competitiveness and External Imbalances within the Euro Area

ECB Occasional Paper No. 2012/139
Number of pages: 76 Posted: 09 Feb 2013
European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Bank of Lithuania, Deutsche Bundesbank, Bank of Greece, Independent, Banco de España, Banque de France, Banque de France, Bank of Italy, Independent, Central Bank of Malta - Modelling and Research Office, Bank of Latvia, National Bank of Poland, Bank of Portugal, Magyar Nemzeti Bank and Independent
Downloads 183 (262,511)
Citation 3

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competitiveness, trade, open economy, Euro area, macro models, simulations

7.

The Macroeconomics of Fiscal Consolidations in a Monetary Union: The Case of Italy

Bank of Italy Temi di Discussione (Working Paper) No. 747
Number of pages: 51 Posted: 01 Sep 2010
Lorenzo Forni, Andrea Gerali and Massimiliano Pisani
International Monetary Fund (IMF), Bank of Italy and Bank of Italy
Downloads 169 (281,354)
Citation 192

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Fiscal Consolidation, Monetary Union, Distortionary Taxation, General Equilibrium Models

8.

Review of Macroeconomic Modelling in the Eurosystem: Current Practices and Scope for Improvement

ECB Occasional Paper No. 2021267
Number of pages: 193 Posted: 23 Sep 2021 Last Revised: 22 Mar 2023
European Central Bank (ECB), Bank of Italy, Bank of Finland - Research, Central Bank of Cyprus, European Central Bank (ECB) - Directorate General Research, Banque de France, National Bank of Belgium, Banque de France, European Central Bank (ECB), Central Bank of Ireland, De Nederlandsche Bank - Monetary and Economic Policy Department, European Central Bank (ECB), European Central Bank (ECB), Banque de France, European Central Bank (ECB), European Central Bank, European Central Bank (ECB), European Central Bank, European Central BankECB, Bank of Italy, Bank of Italy, Bank of Finland, Bank of Slovenia, De Nederlandsche Bank - Research Department, National Bank of Belgium, European Central Bank (ECB), Banque de France, Bank of Finland, European Central Bank (ECB), Bank of Finland - Research, Deutsche Bundesbank, Deutsche Bundesbank - Economics Department, Banco de España, European Central Bank (ECB), Bank of Portugal and Université Paris I Panthéon-Sorbonne
Downloads 167 (284,170)
Citation 3

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central banking., econometric modelling, forecasting and simulation, monetary policy

9.

Oil Supply News in a VAR: Information from Financial Markets

Bank of Italy Temi di Discussione (Working Paper) No. 632
Number of pages: 36 Posted: 07 Aug 2007
Patrizio Pagano, Alessio Anzuini and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 160 (294,678)
Citation 28

Abstract:

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vector autoregression, oil shock, futures, news

10.

Potential Output in DSGE Models

ECB Working Paper No. 1351
Number of pages: 49 Posted: 07 Jun 2011
Bank of Lithuania, Czech National Bank, Sveriges Riksbank, affiliation not provided to SSRN and Bank of Italy
Downloads 157 (299,395)
Citation 19

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potential output, simulation and forecasting models, monetary policy

11.

Policy Mix During a Pandemic Crisis: A Review of the Debate on Monetary and Fiscal Responses and the Legacy for the Future

Bank of Italy Occasional Paper No. 623
Number of pages: 58 Posted: 22 Jul 2021
Giuseppe Ferrero, Massimiliano Pisani and Martino Tasso
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 145 (319,507)

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COVID 19, secular stagnation, monetary policy, fiscal policy

12.

What Will Brexit Mean for the British and Euro-Area Economies? A Model-Based Assessment of Trade Regimes

Bank of Italy Temi di Discussione (Working Paper) No. 1163
Number of pages: 65 Posted: 22 Feb 2018
Massimiliano Pisani and Filippo Vergara Caffarelli
Bank of Italy and Bank of Italy
Downloads 140 (328,495)
Citation 25

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Brexit, DSGE models, tariffs

13.

Monetary Policy in the Open Economy with Digital Currencies

Bank of Italy Temi di Discussione (Working Paper) No. 1366
Number of pages: 59 Posted: 16 May 2022
Bank of Italy, Bank of Italy, Bank of Italy and Bank of Italy
Downloads 135 (338,007)
Citation 1

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digital currency, CBDC, monetary policy, international finance

14.

The Ecb's Price Stability Framework: Past Experience, and Current and Future Challenges

ECB Occasional Paper No. 2021269
Number of pages: 128 Posted: 23 Sep 2021 Last Revised: 18 Nov 2021
Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), Banque de France - Centre de Recherche, Bank of Latvia, ECB -DG Monetary Policy, De Nederlandsche Bank, European Central Bank (ECB), Bank of Portugal, European Central Bank (ECB), European Central Bank (ECB), Bank of Italy, European Central Bank (ECB), Banque de France, Bank of Finland - Research, Central Bank of Cyprus, Deutsche BundesbankEuropean Central Bank (ECB)University of Kiel, European Central BankECB, European Central Bank (ECB), Central Bank of Ireland, Banco de España, Bank of Italy, Deutsche Bundesbank, Deutsche Bundesbank, Banque de France, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, European Central Bank, University of St. Gallen, European Central Bank (ECB) - Directorate General Research, European Central Bank (ECB), Bank of Finland, Central Bank of Ireland, European Central Bank (ECB), Deutsche Bundesbank, European Central Bank (ECB), Národná banka Slovenska, European Central Bank (ECB), European Central Bank (ECB), Banque de France, Deutsche Bundesbank, Bank of Greece, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Frankfurt School of Finance & Management, European Central Bank, European Central Bank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Deutsche Bundesbank, National Bank of Belgium, Bank of Italy and Bank of Italy
Downloads 125 (358,147)
Citation 1

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effective lower bound, euro area, European Central Bank, monetary policy strategy, price stability

Structural Reforms and Macroeconomic Performance in the Euro Area Countries: A Model-Based Assessment

Bank of Italy Temi di Discussione (Working Paper) No. 830
Number of pages: 59 Posted: 14 Feb 2012
Sandra Gomes, Pascal Jacquinot, Matthias F. Mohr and Massimiliano Pisani
Bank of Portugal, European Central Bank (ECB), European Central Bank (ECB) and Bank of Italy
Downloads 68 (535,734)
Citation 13

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economic policy, structural reforms, dynamic general equilibrium modeling, competition, markups

Structural Reforms and Macroeconomic Performance in the Euro Area Countries: A Model-Based Assessment

ECB Working Paper No. 1323
Number of pages: 54 Posted: 13 Apr 2011
Sandra Gomes, Pascal Jacquinot, Matthias F. Mohr and Massimiliano Pisani
Bank of Portugal, European Central Bank (ECB), European Central Bank (ECB) and Bank of Italy
Downloads 57 (587,478)

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Economic policy, structural reforms, dynamic general equilibrium modeling, competition, markups, monetary policy

16.

Real Exchange Rate Volatility and Disconnect: An Empirical Investigation

Bank of Italy Temi di Discussione Working Paper No. 660
Number of pages: 55 Posted: 20 Jun 2008
Riccardo Cristadoro, Andrea Gerali, Stefano Neri and Massimiliano Pisani
Bank of Italy, Bank of Italy, Bank of Italy and Bank of Italy
Downloads 121 (366,803)
Citation 23

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International business cycle, Exchange rate volatility, Exchange rate pass-through, International transmission

The EAGLE: A Model for Policy Analysis of Macroeconomic Interdependence in the Euro Area

Bank of Italy Temi di Discussione (Working Paper) No. 770
Number of pages: 99 Posted: 20 Mar 2011
Sandra Gomes, Pascal Jacquinot and Massimiliano Pisani
Bank of Portugal, European Central Bank (ECB) and Bank of Italy
Downloads 63 (558,336)
Citation 95

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Open-economy macroeconomics, DSGE models, econometric models, policy analysis

The EAGLE: A Model for Policy Analysis of Macroeconomic Interdependence in the Euro Area

ECB Working Paper No. 1195
Number of pages: 96 Posted: 25 May 2010
Sandra Gomes, Pascal Jacquinot and Massimiliano Pisani
Bank of Portugal, European Central Bank (ECB) and Bank of Italy
Downloads 57 (587,478)

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Open-Economy Macroeconomics, DSGE Models, Econometric Models, Policy Analysis

18.

Global Imbalances: The Role of Non-Tradable Total Factor Productivity in Advanced Economies

IMF Working Paper No. 09/63
Number of pages: 41 Posted: 29 Mar 2009
Pietro Cova, Massimiliano Pisani, Nicoletta Batini and Alessandro Rebucci
Bank of Italy, Bank of Italy, International Monetary Fund (IMF) and Johns Hopkins University - Carey Business School
Downloads 112 (387,864)

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Payments imbalances, United States, European Union, Japan, Developed countries, Productivity, Balance of trade, Economic models, Time series, Cross country analysis

19.

Global Imbalances: The Role of Emerging Asia

IMF Working Paper No. 09/64
Number of pages: 42 Posted: 29 Mar 2009
Pietro Cova, Massimiliano Pisani and Alessandro Rebucci
Bank of Italy, Bank of Italy and Johns Hopkins University - Carey Business School
Downloads 109 (395,362)
Citation 2

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Payments imbalances, Asia, Emerging markets, International trade, Productivity, Demand, Balance of payments deficits, Foreign exchange reserves, Economic models, Cross country analysis

20.

The COVID-19 Shock and a Fiscal-Monetary Policy Mix in a Monetary Union

Bank of Italy Temi di Discussione (Working Paper) No. 1313
Number of pages: 61 Posted: 14 Apr 2021
Anna Bartocci, Alessandro Notarpietro and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 102 (414,270)

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monetary policy, fiscal policy, effective lower bound

21.

Macroeconomic Effects of Greater Competition in the Service Sector: The Case of Italy

Bank of Italy Temi di Discussione (Working Paper) No. 706
Number of pages: 44 Posted: 28 Apr 2009
Lorenzo Forni, Andrea Gerali and Massimiliano Pisani
International Monetary Fund (IMF), Bank of Italy and Bank of Italy
Downloads 88 (455,874)
Citation 110

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competition, general equilibrium models, markups, monetary policy

22.

Macroeconomic Effects of Non-Standard Monetary Policy Measures in the Euro Area: The Role of Corporate Bond Purchases

Bank of Italy Temi di Discussione (Working Paper) No. 1136
Number of pages: 50 Posted: 12 Oct 2017
Bank of Italy, European Central Bank (ECB), Bank of Italy and Bank of Italy
Downloads 81 (479,400)
Citation 18

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DSGE models, financial frictions, open-economy macroeconomics, non-standard monetary policy, corporate bonds, forward guidance, euro area

23.

Medium-Term Forecasting of Euro-Area Macroeconomic Variables with DSGE and BVARX Models

Bank of Italy Occasional Paper No. 257
Number of pages: 21 Posted: 18 Apr 2015
European Central Bank (ECB), Bank of Italy, Bank of Italy and Bank of Italy
Downloads 81 (479,400)

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forecasting, DSGE, BVARX, euro area

24.

Foreign Exchange Reserve Diversification and the 'Exorbitant Privilege'

Bank of Italy Temi di Discussione (Working Paper) No. 964
Number of pages: 61 Posted: 18 Nov 2014
Pietro Cova, Patrizio Pagano and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 78 (489,995)
Citation 24

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global imbalances, global currency, dynamic general equilibrium modelling

25.

Domestic and International Macroeconomic Effects of the Eurosystem Expanded Asset Purchase Programme

Bank of Italy Temi di Discussione (Working Paper) No. 1036
Number of pages: 70 Posted: 12 Feb 2016
Pietro Cova, Patrizio Pagano and Massimiliano Pisani
Bank of Italy, World Bank and Bank of Italy
Downloads 76 (497,348)
Citation 138

Abstract:

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DSGE models, open-economy macroeconomics, non-standard monetary policy, zero lower bound

26.

EAGLE-FLI: A Macroeconomic Model of Banking and Financial Interdependence in the Euro Area

ECB Working Paper No. 1923
Number of pages: 65 Posted: 19 Jun 2016
University of St. Andrews - Centre for Dynamic Macroeconomic Analysis (CDMA), Bank of Italy, Bank of Portugal, European Central Bank (ECB) and Bank of Italy
Downloads 70 (520,409)

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banks, DSGE models, econometric models, financial frictions, open-economy, macroeconomics, policy analysis

27.

Euro Area and Global Oil Shocks: An Empirical Model-Based Analysis

Bank of Italy Temi di Discussione (Working Paper) No. 873
Number of pages: 61 Posted: 02 Oct 2012
International Monetary Fund (IMF), Bank of Italy, Bank of Italy and Bank of Italy
Downloads 68 (528,451)
Citation 29

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oil shocks, DSGE modelling, open-economy macroeconomics, Bayesian inference, euro area

28.

Global Macroeconomic Effects of Exiting from Unconventional Monetary Policy

Bank of Italy Temi di Discussione (Working Paper) No. 1078
Number of pages: 56 Posted: 11 Jan 2017
Pietro Cova, Patrizio Pagano and Massimiliano Pisani
Bank of Italy, World Bank and Bank of Italy
Downloads 62 (554,193)
Citation 18

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DSGE models, open-economy macroeconomics, non-standard monetary policy, zero lower bound

29.

Banks’ Balance Sheets and the Macroeconomy in the Bank of Italy Quarterly Model

Bank of Italy Occasional Paper No. 135
Number of pages: 34 Posted: 17 Nov 2012
Single Resolution Board, European Central Bank (ECB), Bank of Italy and Bank of Italy
Downloads 60 (563,265)
Citation 1

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bank regulatory capital, loan interest rates, Italian economy

30.

Labour Tax Reforms, Cross-Country Coordination and the Monetary Policy Stance in the Euro Area: A Structural Model-Based Approach

ECB Working Paper No. 2127
Number of pages: 83 Posted: 02 Feb 2018
Pascal Jacquinot, Matija Lozej and Massimiliano Pisani
European Central Bank (ECB), Central Bank of Ireland and Bank of Italy
Downloads 55 (586,928)
Citation 1

Abstract:

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DSGE models, labour taxes, unemployment, monetary union, open-economy macroeconomics

31.

EAGLE-FLI. A Macroeconomic Model of Banking and Financial Interdependence in the Euro Area

Bank of Italy Temi di Discussione (Working Paper) No. 1064
Number of pages: 67 Posted: 26 Oct 2016
European Central Bank (ECB), Bank of Italy, Bank of Portugal, European Central Bank (ECB) and Bank of Italy
Downloads 55 (586,928)
Citation 19

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banks, DSGE models, econometric models, financial frictions, open-economy macroeconomics, policy analysis

32.

Non-Standard Monetary Policy, Asset Prices and Macroprudential Policy in a Monetary Union

Bank of Italy Temi di Discussione (Working Paper) No. 1089
Number of pages: 70 Posted: 09 Feb 2017
European Central Bank (ECB), Bank of Italy, Bank of Italy and Bank of Italy
Downloads 53 (596,756)
Citation 113

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DSGE models, open-economy macroeconomics, non-standard monetary policy, zero lower bound, macroprudential policy

33.

Structural Reforms and Zero Lower Bound in a Monetary Union

Bank of Italy Temi di Discussione (Working Paper) No. 1002
Number of pages: 46 Posted: 24 Apr 2015
Andrea Gerali, Alessandro Notarpietro and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 53 (596,756)
Citation 27

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competition, markups, monetary policy, zero lower bound

34.

Public Investment and Monetary Policy Stance in the Euro Area

Bank of Italy Temi di Discussione (Working Paper) No. 1150
Number of pages: 58 Posted: 08 Dec 2017
European Central Bank (ECB), Bank of Italy, Bank of Italy and Bank of Italy
Downloads 52 (602,032)
Citation 12

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public investment, fiscal policy, monetary policy, euro area

35.

Exchange Rate Pass-Through into Euro Area Inflation. An Estimated Structural Model

Bank of Italy Temi di Discussione (Working Paper) No. 1192, September 2018
Number of pages: 65 Posted: 09 Jul 2019
Lorenzo Burlon, Alessandro Notarpietro and Massimiliano Pisani
European Central Bank (ECB), Bank of Italy and Bank of Italy
Downloads 51 (607,201)
Citation 15

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exchange rate, import prices, pass-through, monetary policy, euro area

36.

Macroeconomic Effects of Simultaneous Implementation of Reforms after the Crisis

Bank of Italy Temi di Discussione (Working Paper) No. 997
Number of pages: 65 Posted: 28 Feb 2015
Andrea Gerali, Alessandro Notarpietro and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 51 (607,201)
Citation 43

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competition, fiscal policy, markups, monetary policy, public debt, spread

37.

Sovereign Risk, Monetary Policy and Fiscal Multipliers: A Structural Model-Based Assessment

Bank of Italy Temi di Discussione (Working Paper) No. 943
Number of pages: 68 Posted: 15 Mar 2014
Alberto Locarno, Alessandro Notarpietro and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 51 (607,201)
Citation 31

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fiscal multiplier, monetary policy, zero lower bound, sovereign risk

38.

Secular Stagnation, R&D, Public Investment and Monetary Policy: A Global-Model Perspective

Bank of Italy Temi di Discussione (Working Paper) No. 1156
Number of pages: 56 Posted: 08 Dec 2017
Bank of Italy, World Bank, Bank of Italy and Bank of Italy
Downloads 50 (612,440)
Citation 101

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DSGE models, secular stagnation, open-economy macroeconomics, public investment, monetary policy

39.

Fiscal Devaluation in the Euro Area: A Model-Based Analysis

ECB Working Paper No. 1725
Number of pages: 39 Posted: 23 Aug 2014
Sandra Gomes, Pascal Jacquinot and Massimiliano Pisani
Bank of Portugal, European Central Bank (ECB) and Bank of Italy
Downloads 49 (617,607)
Citation 3

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fiscal devaluation, trade deficit, dynamic general equilibrium modeling

40.

Macroeconomic Effectiveness of Non-Standard Monetary Policy and Early Exit. A Model-Based Evaluation

Bank of Italy Temi di Discussione (Working Paper) No. 1074
Number of pages: 50 Posted: 10 Nov 2016
European Central Bank (ECB), Bank of Italy, Bank of Italy and Bank of Italy
Downloads 48 (623,049)
Citation 35

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DSGE models, open-economy macroeconomics, non-standard monetary policy, zero lower bound

41.

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union: A Model-Based Approach

IMF Working Paper No. 13/269
Number of pages: 43 Posted: 29 Jan 2014
Lorenzo Forni and Massimiliano Pisani
International Monetary Fund (IMF) and Bank of Italy
Downloads 48 (623,049)

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Sovereign debt, Monetary unions, Public debt, Debt restructuring, Fiscal consolidation, Fiscal policy, Economic models, DSGE modeling, sovereign restructuring, intermediate goods, elasticity of substitution, tradable goods, domestic firms, investment goods, perfect competition, domestic consumption, open economy, nontradable goods, nominal interest rate, imported intermediate, aggregate demand, export market, output growth, equilibrium model, imperfect competition, imported goods, international trade, gross exports, market segmentation, domestic market, closed economy, domestic economy, competitive markets, price stability

42.

Macroeconomic Effects of Precautionary Demand for Oil

Bank of Italy Temi di Discussione (Working Paper) No. 918
Number of pages: 32 Posted: 12 Jul 2013
Alessio Anzuini, Patrizio Pagano and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 48 (623,049)
Citation 29

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vector autoregression, oil shock, futures, news

43.

Monetary Policy Strategies in the New Normal: A Model-Based Analysis for the Euro Area

Bank of Italy Temi di Discussione (Working Paper) No. 1308
Number of pages: 49 Posted: 14 Apr 2021
Bank of Italy, Bank of Italy, Bank of Italy and Bank of Italy
Downloads 41 (662,881)

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monetary policy, natural interest rate, effective lower bound

44.

Inflation, Financial Conditions and Non-Standard Monetary Policy in a Monetary Union. A Model-Based Evaluation

Bank of Italy Temi di Discussione (Working Paper) No. 1015
Number of pages: 56 Posted: 19 Aug 2015
European Central Bank (ECB), Bank of Italy, Bank of Italy and Bank of Italy
Downloads 41 (662,881)
Citation 28

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DSGE models, financial frictions, open-economy macroeconomics, non-standard monetary policy, zero lower bound

45.

Macroeconomic Effects of an Open-ended Asset Purchase Programme

Bank of Italy Temi di Discussione (Working Paper) No. 1185, July 2018
Number of pages: 43 Posted: 09 Jul 2019
Lorenzo Burlon, Alessandro Notarpietro and Massimiliano Pisani
European Central Bank (ECB), Bank of Italy and Bank of Italy
Downloads 40 (668,945)
Citation 69

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central bank communication, open-ended announcement, non-standard monetary policy, DSGE models, open-economy macroeconomics, euro area

46.

Every Cloud Has a Silver Lining. The Sovereign Crisis and Italian Potential Output

Bank of Italy Temi di Discussione (Working Paper) No. 1010
Number of pages: 46 Posted: 19 Aug 2015
Bank of Italy, Bank of Italy, Bank of Italy and Bank of Italy
Downloads 36 (694,400)
Citation 102

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sovereign risk, fiscal policy, potential output

47.

“Green” fiscal policy measures and non-standard monetary policy in the euro area

Bank of Italy Temi di Discussione (Working Paper) No. 1377
Number of pages: 68 Posted: 07 Dec 2022
Anna Bartocci, Alessandro Notarpietro and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 33 (743,043)

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environmental policy, energy policies, dynamic general equilibrium model, fiscal policy, monetary policy, euro area

48.

Protectionism and the Effective Lower Bound in the Euro Area

Bank of Italy Temi di Discussione (Working Paper) No. 1286
Number of pages: 43 Posted: 25 Aug 2020
Pietro Cova, Alessandro Notarpietro and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 17 (840,505)
Citation 13

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euro area, inflation, tariffs, effective lower bound, DSGE models

49.

Revisiting Monetary Policy Objectives and Strategies: International Experience and Challenges from the ELB

Bank of Italy Occasional Paper No. 660
Number of pages: 33 Posted: 24 Jan 2022
Bank of Italy, Bank of Italy, Bank of Italy and Bank of Italy
Downloads 16 (849,370)
Citation 1

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central banking, monetary policy rules, effective lower bound

50.

Macroeconomic Effects of Growth-Enhancing Measures in the Euro Area

Bank of Italy Temi di Discussione (Working Paper) No. 1384
Number of pages: 52 Posted: 03 Feb 2023
Alessandro Cantelmo, Alessandro Notarpietro and Massimiliano Pisani
Bank of Italy, Bank of Italy and Bank of Italy
Downloads 13 (876,551)

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endogenous growth, R&D spending, new keynesian model, monetary policy, euro area

51.

Make-up Strategies and Exchange Rate Pass-through in a Low-Interest-Rate Environment

Bank of Italy Temi di Discussione (Working Paper) No. 1398
Number of pages: 75 Posted: 30 May 2023
Bank of Italy, Bank of Italy, Bank of Italy and Bank of Italy
Downloads 7 (946,858)

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effective lower bound, exchange rate pass-through, local currency pricing, make-up strategies, monetary policy