Working Papers

Balance Sheets, Exchange Rates, and International Monetary Spillovers, with O. Akinci [new version coming soon]


A Model of Slow Recoveries from Financial Crises

Press coverage at the Wall Street Journal

Credit Spreads, Financial Crises and Macroprudential Policy, with O. Akinci

Blog post at Liberty Street Economics


Macroeconomic Effects of Banking Sector Losses across Structural Models, with L. Guerrieri, M. Iacoviello, F. Covas, J. Driscoll, M. Kiley, M. Jahan-Parvar and J. Sim

International Journal of Central Banking, forthcoming

Innovation, Productivity, and Monetary Policy, with P. Moran

Journal of Monetary Economics (Carnegie-Rochester Series on Public Policy), forthcoming

Financial Crises, Bank Risk Exposure and Government Financial Policy, with M. Gertler and N. Kiyotaki

Journal of Monetary Economics, vol. 59, Supplement, pp. S17-S34 [Online Appendix]


► "Real Interest Rates and Productivity in Small Open Economies," by T. Monacelli, L. Sala, and D. Siena, European Summer Symposium in International Macroeconomics, 2018 [Slides]

► "Implications of Shadow Bank Regulation for Monetary Policy at the Zero Lower Bound," by F. Mazelis, Monetary Policy Implementation in the Long-Run, FRB Minneapolis, 2016 [Slides]

► "News Shocks under Financial Frictions," by C. Gortz, J. Tsoukalas and F. Zanetti, NBER Workshop on Methods and Applications for DSGE Models, FRB Chicago, 2016 [Slides]

► "Monetary Policy Implementation in an Interbank Network: Effects on Systemic Risk," by M. Bluhm, E. Faia and J. Krahnen, ECB Workshop on Non-Standard Monetary Policy Measures, 2014 [Slides]

"Credit Spreads and Credit Policies," by I. Correia, F. De Fiore, P. Teles and O. Tristani, International Research Forum on Monetary Policy, Federal Reserve Board, 2014 [Slides]

► "Macroeconomic Effects of a Stable Funding Requirement," by C. Bloor, R. Craigie and A. Munro, Macroeconomic Modeling Workshop, Bank of Canada, 2011 [Slides]