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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
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The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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The New York Innovation Center bridges the worlds of finance, technology, and innovation and generates insights into high-value central bank-related opportunities.
The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
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The Economic Inequality & Equitable Growth hub is a collection of research, analysis and convenings to help better understand economic inequality.
The Governance & Culture Reform hub is designed to foster discussion about corporate governance and the reform of culture and behavior in the financial services industry.
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Paolo Pesenti |
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Director of Monetary Policy Research |
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The Impact of Foreign Slowdown on the U.S. Economy: An Open Economy DSGE Perspective
With Ozge Akinci and Gianluca Benigno Federal Reserve Bank of New York Economic Policy Review, Volume 26 Number 4, October 2020 Books Financial Markets and European Monetary Cooperation. The Lessons of the 1992-93 ERM Crisis  With Willem Buiter and Giancarlo Corsetti New York, NY and Cambridge, UK: Cambridge University Press, 1998, (hardback) See also 2001 paperback Articles Varieties and the Transfer Problem With Giancarlo Corsetti and Philippe Martin Journal of International Economics 89 (1), January 2013, pp.1-12 Commodity Prices, Commodity Currencies, and Global Economic Developments With Jan Groen, in Andrew Rose and Takatoshi Ito (eds.) Commodity Prices and Markets, NBER-East Asia Seminar on Economics, Chicago, IL: University of Chicago Press, 2011, pp.15-42 The Global Economy Model (GEM): Theoretical Framework  Theoretical Framework, IMF Staff Papers 55 (2),2008, pp.243-284 33 pages / 255 kb Oil Price Movements and the Global Economy: a Model-Based Assessment With Selim Elekdag, Rene Lalonde, Douglas Laxton, and Dirk Muir IMF Staff Papers, 55 (2),2008, pp.297-311 49 pages / 620 kb Would protectionism defuse global imbalances and spur economic activity? A scenario analysis With Hamid Faruqee, Douglas Laxton, and Dirk Muir Journal of Economic Dynamics and Control, 32 (8),2008, pp. 2651-2689 62 pages / 483 kb The Simple Geometry of Transmission and Stabilization in Closed and Open Economies With Giancarlo Corsetti in Richard Clarida and Francesco Giavazzi (eds.), NBER International Macroeconomic Annual 2007, Chicago, IL: University of Chicago Press, 2008, pp. 65-116 47 pages / 329 kb Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing With Hamid Faruqee, Douglas Laxton, and Dirk Muir in Richard Clarida (ed.), G7 Current Account Imbalances: Sustainability and Adjustment,Chicago, IL: University of Chicago Press, 2007, pp.377-451 72 pages / 754 kb Productivity, Terms of Trade and the 'Home Market Effect' With Giancarlo Corsetti and Philippe Martin Journal of International Economics 73 (1),September 2007, pp 99-127 32 pages / 297 kb See also National Bureau of Economic Research Working Paper No. 11165 Federal Reserve Bank of New York Staff Report No.201 Deflationary Shocks and Monetary Rules: An Open-Economy Scenario Analysis With Douglas Laxton and Papa N'Diaye Journal of the Japanese and International EconomiesSpecial Issue: Proceedings of the NBER-CEPR-TCER-CIRJE 2005 International Finance Conference, forthcoming International Dimensions of Optimal Monetary Policy With Giancarlo Corsetti Journal of Monetary Economics,52 (2), March 2005 44 pages / 278 kb See also National Bureau of Economic Research Working Paper No. 8230Federal Reserve Bank of New York Staff Report No. 124, April 2001 Monetary Rules for Small, Open, Emerging Economies With Douglas Laxton Journal of Monetary Economics 50 (5) July 2003, pp. 1109-1146 59 pages / 430 kb See also National Bureau of Economic Research Working Paper No. 9568 , March 2003The Role of Large Players in Currency Crises With Giancarlo Corsetti and Nouriel Roubini In Preventing Currency Crises in Emerging MarketsSebastian Edwards and Jeffrey Frankel eds., Chicago, IL: University of Chicago Press, 2002, pp.197-258 See also National Bureau of Economic Research Working Paper No. 8303 , May 200171 pages / 435 kb With Eric van Wincoop Journal of Money, Credit, and Banking,34, (1), February 2002, pp.25-50 See also Preliminary Draft (April 2000) National Bureau of Economic Research Working Paper No. 5784 Technical Appendix Fundamental Determinants of the Asian Crisis: The Role of Financial Fragility and External Imbalances With Giancarlo Corsetti and Nouriel Roubini In Regional and Global Capital Flows: Macroeconomic Causes and ConsequencesTakatoshi Ito and Anne O. Krueger eds., NBER-East Asia Seminar on Economics Vol. 10, Chicago, IL: University of Chicago Press, 2001, pp.11-41 39 pages / 554 kb Welfare and Macroeconomic Interdependence With Giancarlo Corsetti Quarterly Journal of Economics, 116, (2), May 2001, pp.421-446See also Preliminary Draft, April 2000, National Bureau of Economic Research Working Paper No. 6307 The Economics of Currency Crises and Contagion: An Introduction With Cédric Tille Federal Reserve Bank of New York Economic Policy Review,6, (3), September 2000, pp.3-16 With Giancarlo Corsetti, Nouriel Roubini and Cédric Tille Journal of International Economics, 51, (1), June 2000, pp.217-241See also Preliminary Draft (May 1999) National Bureau of Economic Research Working Paper No. 6889 Federal Reserve Bank of New York Staff Report No. 58 Technical Appendix With Giancarlo Corsetti Cuadernos de Economía37 (110), April 2000, pp.35-62. ) See also Preliminary Draft (February 2000) With Giancarlo Corsetti Brookings Papers on Economic Activity,1999:2, pp.295-372 See also Preliminary Draft, September 1999 What Caused the Asian Currency and Financial Crisis? With Giancarlo Corsetti and Nouriel Roubini Japan and the World Economy, 11, (3), October 1999, pp.305-373See also Preliminary Draft, April 1999 National Bureau of Economic Research Working Paper No. 6833 No. 6834 Banca d'Italia Temi di Discussione No. 343 European Economic Review, 43, (7), June 1999, pp.1211-1236See also Preliminary Draft, October 1998 National Bureau of Economic Research Working Paper No. 6783 With Willem Buiter and Giancarlo Corsetti Princeton Studies in International Finance, No. 84, March 1998With Laura Bottazzi and Eric van Wincoop European Economic Review, 40 (2), February 1996, pp. 219-254See also Awarded 1998 Hicks-Tinbergen medal of the European Economic Association for an outstanding article published in the European Economic Review during the two preceding years EC Trade Policy and Developing Countries, in Gianfranco Viesti ed., Tra Cooperazione e Competizione. Le Relazioni Economiche della Comunità Europea con i Paesi in via di SviluppoBologna: Il Mulino, 1991, pp. 151-193 Other Recent Comment on `Firm Heterogeneity, Endogenous Entry, and the Business Cycle' by Gianmarco Ottaviano in Jeffrey Frankel and Christopher Pissarides (eds.), NBER International Macroeconomic Annual 2011, Chicago, IL: University of Chicago Press, Forthcoming 7 pages / 70 kb Comment on 'Reflections on Monetary Policy in the Open Economy' by R. Clarida in Jeffrey Frankel and Christopher Pissarides (eds.), NBER International Macroeconomic Annual 2008,Forthcoming 9 pages / 81 kb Comment on 'Current Account Dynamics and Monetary Policy' by A. Ferrero, M. Gertler and L. Svensson in Jordi Gali and Mark Gertler (eds.), International Dimensions of Monetary Policy,Forthcoming 10 pages / 57 kb Discussion of 'Europe and Global Imbalances' by Philip R. Lane and Gian Maria Milesi-Ferretti Economic Policy 22 (51),July 2007, pp. 557-560 7 pages / 45 kb Comment on "A Bayesian Look at New Open Economy Macroeconomics" by Thomas Lubik and Frank Schorfheide in Mark Gertler and Kenneth Rogoff (eds.), NBER MacroeconomicsAnnual 2005, Volume 20, Cambridge, MA: MIT Press 10 pages / 64 kb Comment on "Domestic Bank Regulation and Financial Crises: Theory and Empirical Evidence from East Asia," by Dekle and Kletzer In Preventing Currency Crises in Emerging MarketsSebastian Edwards and Jeffrey Frankel eds., Chicago, IL: University of Chicago Press, 2002, pp.552-554 4 pages / 20 kb Discussion of "Multiple Equilibria, Contagion, and the Emerging Market Crises," by Paul Masson In Financial Crises in Emerging Markets, Reuven Glick, Ramon Moreno, and Mark Spiegel eds., New York, NY and Cambridge, UK: Cambridge University Press, 2001, pp. 99-1057 pages / 178 kb With Graciana del Castillo, Albert Fishlow, and Miles Kahler In The Political Economy of the East Asian Crisis and Its Aftermath: Tigers in Distress,Arvid Lukauskas and Francisco L. Rivera-Batiz eds., Cheltenham, UK and Northampton, MA: Edward Elgar Publishing Ltd., 2001, pp.249-264 Paolo Pesenti's CV |
