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User profiles for author:"Fabio Ghironi"

Fabio Ghironi

Department of Economics, Boston College
Verified email at bc.edu
Cited by 1631

International trade and macroeconomic dynamics with heterogeneous firms

[PDF] from oxfordjournals.org
F Ghironi… - 2004 - nber.org
We develop a stochastic, general equilibrium, two-country model of trade and
macroeconomic dynamics. Productivity differs across individual, monopolistically
competitive firms in each country. Firms face a sunk entry cost in the domestic market and ...
Cited by 498 - Related articles - Library Search - BL Direct - All 88 versions

Endogenous entry, product variety, and business cycles

[PDF] from bcrp.gob.pe
F Bilbiie, F Ghironi… - 2007 - nber.org
This paper builds a framework for the analysis of macroeconomic fluctuations that
incorporates the endogenous determination of the number of producers over the business
cycle. Economic expansions induce higher entry rates by prospective entrants subject to ...
Cited by 122 - Related articles - Library Search - BL Direct - All 23 versions

Monetary policy and business cycles with endogenous entry and product variety

[PDF] from uni-bonn.de
F Bilbiie, F Ghironi… - 2007 - nber.org
This paper studies the role of endogenous producer entry and product creation for monetary
policy analysis and business cycle dynamics in a general equilibrium model with imperfect
price adjustment. Optimal monetary policy stabilizes product prices, but lets the consumer ...
Cited by 113 - Related articles - Library Search - BL Direct - All 34 versions

Macroeconomic interdependence under incomplete markets

[PDF] from bc.edu
Full text - MIT Libraries
F Ghironi - Journal of International Economics, 2006 - Elsevier
This paper uses a two-country, flexible-price model with overlapping generations of infinitely
lived households to study the role of net foreign asset dynamics in the propagation of
productivity shocks. Absence of Ricardian equivalence ensures existence of a unique ...
Cited by 92 - Related articles - All 13 versions

The valuation channel of external adjustment

[PDF] from cepr.org
F Ghironi, J Lee… - 2007 - nber.org
Ongoing international financial integration has greatly increased foreign asset holdings
across countries, enhancing the scope for a" valuation channel" of external adjustment (ie,
the changes in a country's net foreign asset position due to exchange rate and asset price ...
Cited by 85 - Related articles - BL Direct - All 36 versions

[PDF] EMU and Enlargement Barry Eichengreen and Fabio Ghironi1 May 2001

[PDF] from eabcn.org
B Eichengreen… - 2001 - eabcn.org
In this paper we consider how Europe's monetary union will evolve in the next five to ten
years. We concentrate on what is likely to be the most important change in that period,
namely, the increased number and heterogeneity of the participating states. While the ...
Cited by 75 - Related articles - View as HTML - All 21 versions

Net foreign assets and the exchange rate: Redux revived

[PDF] from bc.edu
Full text - MIT Libraries
M Cavallo, F Ghironi - Journal of Monetary Economics, 2002 - Elsevier
We revisit Obstfeld and Rogoff's (1995) results on exchange rate dynamics in a two-country,
monetary model with incomplete asset markets, stationary net foreign assets, and
endogenous monetary policy. The nominal exchange rate exhibits a unit root. Under ...
Cited by 74 - Related articles - All 16 versions

Interest rate rules for fixed exchange rate regimes

[PDF] from bc.edu
Full text - MIT Libraries
G Benigno, P Benigno… - Journal of Economic Dynamics and …, 2007 - Elsevier
This paper shows that properly designed interest rate rules can be consistent with
maintaining exchange rate stability. It sheds light on the relation between interest rate rules,
exchange rate regimes, and determinacy of the rational expectation equilibrium in a ...
Cited by 50 - Related articles - All 18 versions

European monetary unification: the challenges ahead

B Eichengreen… - CEPR Discussion Papers, 1995 - ideas.repec.org
This paper reviews the problems that must be resolved at the Intergovernmental Conference
in 1996 to clear the way for European Monetary Union: locking in Germany's commitment to
the project, and reconciling EMU with variable geometry. It reviews what we know about ...
Cited by 45 - Related articles - Cached - Library Search - BL Direct - All 5 versions

[BOOK] Towards new open economy macroeconometrics

[PDF] from nyfedeconomists.org
F Ghironi… - 2000 - nyfedeconomists.org
Abstract I develop a model that improves upon the recent literature in open economy
macroeconomics in that it lends itself more directly to empirical investigation. I solve the
stationarity problem that characterizes many existing models by adopting an overlapping ...
Cited by 43 - Related articles - View as HTML - Get it from MIT Libraries - Library Search - All 25 versions

[BOOK] Monetary rules for emerging market economies

[PDF] from bc.edu
F Ghironi… - 2002 - books.google.com
We compare the performance of a currency board, inflation targeting, and dollarization in a
small, open developing economy with a liberalized capital account. We focus on the
transmission of shocks to currency and country risk premia and on the role of fluctuations ...
Cited by 40 - Related articles - Get it from MIT Libraries - All 14 versions

Trade flow dynamics with heterogeneous firms

[PDF] from harvard.edu
Full text - MIT Libraries
F Ghironi… - The American economic review, 2007 - JSTOR
Recent work, both theoretical and empirical, has highlighted a fundamental property of
international trade patterns. When trade flows vary, either across countries or within a
country over time, so does the number of goods embodied in those trade flows (as well as ...
Cited by 31 - Related articles - All 26 versions

Does it matter (for equilibrium determinacy) what price index the central bank targets?

[PDF] from bc.edu
Full text - MIT Libraries
CT Carlstrom, TS Fuerst… - Journal of Economic Theory, 2006 - Elsevier
What inflation rate should the central bank target? We address determinacy issues related to
this question in a two-sector model in which prices can differ in equilibrium. We assume that
the degree of nominal price stickiness can vary across the sectors and that labor is ...
Cited by 30 - Related articles - Library Search - All 26 versions

Monopoly power and endogenous product variety: Distortions and remedies

[PDF] from uva.nl
FO Bilbiie, F Ghironi… - 2008 - nber.org
We study the efficiency properties of a dynamic, stochastic, general equilibrium,
macroeconomic model with monopolistic competition and firm entry subject to sunk costs, a
time-to-build lag, and exogenous risk of firm destruction. Under inelastic labor supply and ...
Cited by 29 - Related articles - Library Search - All 19 versions

[PDF] European Monetary Unification and International Monetary Cooperation

[PDF] from escholarship.org
B Eichengreen… - 1997 - escholarship.org
In this paper we describe some of the opportunities and perils for international monetary
cooperation associated with EMU. Our approach brings together two strands in the literature;
one concerned with institutions, the other focusing on policy consensus. Previous work on ...
Cited by 26 - Related articles - View as HTML - All 14 versions

[PDF] Alternative monetary rules for a small open economy: The case of Canada

[PDF] from bc.edu
F Ghironi - Boston College Econ. Dept. WP, 2000 - fmwww.bc.edu
Abstract I compare the performance of alternative monetary rules for Canada using an open
economy model under incomplete markets. Different rules generate different paths for the
markup and the terms of trade. A comparison of welfare levels suggests that flexible ...
Cited by 24 - Related articles - View as HTML - All 11 versions

[PDF] Relative price dynamics and the aggregate economy

[PDF] from atl-res.com
C Carlstrom, T Fuerst, F Ghironi… - Manuscript, Boston …, 2006 - atl-res.com
Abstract We explore the role of relative prices in the dynamics of a two-sector, New
Keynesian model with heterogeneous nominal rigidity, immobile labor, and endogenous
interest rate setting. We show that labor immobility is necessary to generate endogenously ...
Cited by 23 - Related articles - All 14 versions

[PDF] Understanding macroeconomic interdependence. Do we really need to shut off the current account

[PDF] from bc.edu
F Ghironi - 2000 - fmwww.bc.edu
Abstract This paper develops a small open economy, sticky-price model with a role for
current account dynamics in the transmission of shocks. I solve the stationarity problem of
incomplete markets, open economy models by adopting an overlapping-generations ...
Cited by 23 - Related articles - All 7 versions

Net foreign asset positions and consumption dynamics in the international economy

Full text - MIT Libraries
F Ghironi, TB Iscan… - Journal of International Money and …, 2008 - Elsevier
We examine the effect of non-zero, steady-state foreign assets on consumption dynamics in
response to productivity shocks in a two-country, dynamic, general equilibrium model. The
model generates non-zero steady-state net foreign assets by allowing for different ...
Cited by 21 - Related articles - Library Search - All 14 versions

[PDF] Business cycles and firm dynamics

[PDF] from socionet.org
F Bilbiie, F Ghironi… - 2005 Meeting Papers, 2005 - socionet.org
Abstract This paper builds a framework for the analysis of macroeconomic business cycles
that incorporates the endogenous determination of the number of producers over the
business cycle. Economic expansions induce higher entry rates by prospective entrants ...
Cited by 21 - Related articles - All 22 versions

[PDF] Monopoly power and endogenous variety in dynamic stochastic general equilibrium: distortions and remedies

[PDF] from 149.132.120.83
FO Bilbiie, F Ghironi… - manuscript, University of Oxford, …, 2006 - 149.132.120.83
Abstract We study the efficiency properties of a dynamic, stochastic, general equilibrium,
macroeconomic model with monopolistic competition and firm entry subject to sunk costs, a
time-to-build lag, and exogenous risk of firm destruction. Under inelastic labor supply and ...
Cited by 18 - Related articles - View as HTML - All 11 versions

Currency areas, international monetary regimes, and the employment–inflation tradeoff

[PDF] from bc.edu
Full text - MIT Libraries
F Ghironi… - Journal of International Economics, 1998 - Elsevier
We show that the employment–inflation tradeoff facing a central bank depends on the size of
the economy for which it sets monetary policy. For inflation-averse central banks, the tradeoff
improves the smaller the relevant economy. The tradeoff facing the region whose central ...
Cited by 15 - Related articles - All 9 versions

How Will Transatlantic Policy Interactions Change with the Advent of EMU?

B Eichengreen… - 1997 - ideas.repec.org
This paper analyses US–European policy interactions under different assumptions about the
policy-making regime and the nature of the fiscal environment, contrasting the standard
Keynesian case with an anti-Keynesian case in which government spending cuts are ...
Cited by 12 - Related articles - Cached - Library Search - BL Direct - All 5 versions

Out in the sunshine? Outsiders, insiders, and the United States in 1998

F Ghironi… - … currency areas: new analytical and policy …, 1997 - books.google.com
E ADDRESS THE ISSUE Or THE OPTIMAL SIZE of the European currency Wunion and intra-
European Union exchange rate regime, focusing on the interactions among fiscal and
monetary authorities in Europe, and between Europe and the rest of the world. Explicitly ...
Cited by 11 - Related articles - Library Search - BL Direct - All 8 versions

Optimal Fiscal Policy with Endogenous Product Variety

[PDF] from eea-esem.com
SK Chugh… - 2011 - nber.org
We study Ramsey-optimal fiscal policy in an economy in which product varieties are the
result of forward-looking investment decisions by firms. There are two main results. First,
depending on the particular form of variety aggregation in preferences, firms' dividend ...
Cited by 11 - Related articles - Library Search - All 11 versions

[PDF] US-Europe economic interdependence and policy transmission

[PDF] from bc.edu
F Ghironi - Boston College Working Papers in Economics, 2000 - fmwww.bc.edu
Abstract This paper proposes a microfounded general equilibrium model of the US and
European economies suitable for analyzing the transmission of monetary and fiscal policy
shocks between the US and Europe. The focus is on understanding the determinants of ...
Cited by 9 - Related articles - View as HTML - All 11 versions

[PDF] Endogenously persistent output dynamics: a puzzle for the sticky price model?

[PDF] from bc.edu
F Ghironi - Boston College Working Papers in Economics, 2002 - fmwww.bc.edu
Abstract I show that endogenously persistent output dynamics are not a puzzle for the
standard sticky price model once openness of the economy is taken into account. I make this
point using a two country, monetary model of macroeconomic interdependence under ...
Cited by 8 - Related articles - View as HTML - All 8 versions

The role of net foreign assets in a New Keynesian small open economy model

[PDF] from imamu.edu.sa
Full text - MIT Libraries
F Ghironi - Journal of Economic Dynamics and Control, 2008 - Elsevier
This paper develops a small open economy, sticky-price model that determines a unique,
stable long-run asset position for households as function of their incentive to anticipate or
postpone consumption and labor effort across periods. This is accomplished by adopting ...
Cited by 8 - Related articles - All 9 versions

Transatlantic trade-offs in the age of balanced budgets and European Monetary Union

[PDF] from bc.edu
Full text - MIT Libraries
B Eichengreen… - Open economies review, 2002 - Springer
We develop a model of monetary and fiscal policies appropriate for considering US-
European policy interactions in an era of near-balanced budgets and European monetary
union. We study the determinants of policy trade-offs and incentives for central banks and ...
Cited by 7 - Related articles - BL Direct - All 9 versions

Policy Implications of the Size of EMU for Europe and the United States

F Ghironi… - EMU and the International Monetary …, 1997 - books.google.com
As the date approaches when a decision will have to be made on which European states
will join the monetary union from the start, two separate camps are emerging in the countries
that are likely candidates to be admitted to the currency union. On the one side lie the ...
Cited by 7 - Related articles

[CITATION] Alternative monetary policy rules: the case of Canada

F Ghironi - unpublished, University of California at Berkeley, 1998
Cited by 6 - Related articles

The domestic and international effects of interstate US banking

[PDF] from bundesbank.de
F Ghironi… - 2010 - nber.org
This paper studies the domestic and international effects of the transition to an interstate
banking system implemented by the US since the late 1970s in a dynamic, stochastic,
general equilibrium model with endogenous producer entry. Interstate banking reduces ...
Cited by 6 - Related articles - Library Search - All 44 versions

US-Europe economic interdependence (I): positive analysis

F Ghironi - 1998 - papers.ssrn.com
Abstract: This paper proposes a microfounded general equilibrium model of the US and
European economies suitable for analyzing monetary and fiscal policy interactions between
the US and Europe. The focus is on understanding the determinants of transatlantic ...
Cited by 5 - Related articles

[PDF] Productivity shocks and consumption smoothing in the international economy

[PDF] from bc.edu
F Ghironi, TB Iscan… - H unpublished manuscript, Boston …, 2003 - fmwww.bc.edu
Abstract We develop a two-country, dynamic general equilibrium model that links cross-
country differences in net foreign asset and consumption dynamics to differences in discount
factors and steady-state levels of productivity. We compare the results of the model to ...
Cited by 5 - Related articles - View as HTML - All 18 versions

[CITATION] US-Europe Policy Interactions from the Post-Bretton Woods Era to EMU

F Ghironi… - University of California, Berkeley, 1995
Cited by 5 - Related articles

[CITATION] mMonopoly Power and Endogenous Variety in Dynamic Stochastic General Equilibrium: Distortions and Remedies, nmimeo

F Bilbiie, F Ghironi… - 2006
Cited by 5 - Related articles

[BOOK] Macroeconomic Tradeoffs in the United States and Europe: Fiscal Distortions and the International Monetary Regime

[PDF] from bc.edu
B Eichengreen… - 2001 - fmwww.bc.edu
Abstract This paper studies the impact of changes in the extent to which fiscal policy is
distortionary on the short-run macroeconomic tradeoffs facing fiscal policymakers in an era
of budget equilibrium. It does so in an open economy framework, that we use to interpret ...
Cited by 4 - Related articles - View as HTML - Get it from MIT Libraries - Library Search - All 12 versions

[PDF] The domestic and international effects of financial deregulation

[PDF] from nber.org
F Ghironi… - Manuscript, Boston College, 2007 - nber.org
Abstract This paper studies the domestic and international effects of financial deregulation in
a dynamic, stochastic, general equilibrium model with endogenous producer entry. We
model deregulation as a decrease in the monopoly power of financial intermediaries. We ...
Cited by 4 - Related articles - All 19 versions

Optimal Monetary Policy with Endogenous Entry and Product Variety

[PDF] from 193.219.82.230
FO Bilbiie, I Fujiwara… - 2011 - nber.org
We show that deviations from long-run stability of product prices are optimal in the presence
of endogenous producer entry and product variety in a sticky-price model with monopolistic
competition in which price stability would be optimal in the absence of entry. Specifically, a ...
Cited by 6 - Related articles - All 15 versions

[CITATION] Endogenous Entry, Product Variety, and Business Cycles, manuscript

FO Bilbiie, F Ghironi… - 2005 - Oxford University, Boston College, …
Cited by 3 - Related articles

The Valuation Channel of International Adjustment

F Ghironi, J Lee, A Rebucci… - manuscript, Boston College, 2010 - cepr.org
Much of the debate on the importance of valuation effects in the literature has focused on
their role for net foreign asset dynamics, with comparatively less attention in academic
research to the role of valuation for macroeconomic dynamics. Nevertheless, ...
Cited by 3 - Related articles - View as HTML

[CITATION] Macroeconomics Interdependence and Incomplete Markets

F Ghironi - Deparment of Economics, Boston College, Working …, 2000
Cited by 3 - Related articles

[CITATION] nMonetary Policy and Business Cycles with Endogenous Entry and Product Variety. oNBER Macroeconomics Annual 2007

F Bilbiie, F Ghironi… - 2007 - Forthcoming
Cited by 3 - Related articles

[CITATION] The New Phillips Curve: A Survey

M Kulish, ME Course… - 2003 - June
Cited by 3 - Related articles

[CITATION] Monetary Policy and Business Cycles with Endogenous Entry and Product Variety, manuscript

FO Bilbiie, F Ghironi… - 2007 - Oxford University, Boston College …
Cited by 3 - Related articles

[CITATION] Monetary Policy Rules for Emerging Market Economies

F Ghironi… - 2002 - Working Paper WP/02/34, …
Cited by 3 - Related articles

Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-09

[PDF] from iadb.org
M Bussière, G Callegari, F Ghironi, G Sestieri… - 2012 - nber.org
This paper introduces a new methodology for the estimation of demand trade elasticities
based on an import intensity-adjusted measure of aggregate demand, with the foundation of
a stylized theoretical model. We compute the import intensity of demand components by ...
Cited by 6 - Related articles - All 13 versions

[CITATION] Monopoly Power and Endogenous Variety in Dynamic Stochastic General Equilibrium models

F Bilbiie, F Ghironi… - 2006 - Mimeo, Harvard University
Cited by 2 - Related articles

[CITATION] European Monetary unification and International Monetary Cooperation University of California

B Eichengrean… - Berkeley Review, 1996
Cited by 2 - Related articles

[CITATION] The Domestic and International Effects of Financial Integration

F Ghironi… - 2007 - Boston College Working Paper
Cited by 2 - Related articles

Optimal fiscal policy with endogenous product variety

F Ghironi… - Boston College Working Papers in …, 2011 - ideas.repec.org
We study Ramsey-optimal fiscal policy in an economy in which product varieties are the
result of forward-looking investment decisions by firms. There are two main results. First,
depending on the particular form of variety aggregation in preferences, firms' dividend ...
Cited by 2 - Related articles - Cached - All 3 versions

[PDF] Journal of International Money and Finance

[PDF] from bc.edu
Full text - MIT Libraries
F Ghironi, B Talan… - Journal of International Money and Finance, 2008 - bc.edu
There is much interest in the literature in understanding the determinants and consequences
of large international asset positions in the short and in the long-run. 3 This paper
investigates the effect of non-zero, long-run net foreign asset positions on consumption ...
Related articles - All 2 versions

[CITATION] Essays on economic interdependence

FP Ghironi - 1999 - University of California, Berkeley
Library Search

[PDF] The Future of EMU Barry Eichengreen and Fabio Ghironi1 March 2001

[PDF] from bc.edu
B Eichengreen… - 2001 - bc.edu
In this paper we speculate about how Europe's monetary union will evolve in the next five to
ten years. We concentrate on what is likely to be the most important change in that period,
namely, the increased number and heterogeneity of the participating states. While the ...
Related articles - All 2 versions

[CITATION] Macroeconomia: teoria e politica economica

RE Hall, F Ghironi… - 1995 - Hoepli
Get it from MIT Libraries - Library Search

[PDF] Economics 751.01 Macroeconomic Theory II Spring 2003 Part I: Asset Markets and Business Cycle Models

[PDF] from bc.edu
Full text - MIT Libraries
F Ghironi, F Mandelman - Econometrica, 2003 - fmwww.bc.edu
This part of the course will focus on the consequences of uncertainty and unexpected
shocks for the economy. We will first analyze the implications of various asset market
structures for asset pricing and consumption. The main purpose will be to understand how ...
View as HTML - All 6 versions

[PDF] Business Cycle Effects on Stock Market Listing and Managerial Effi ciency

[PDF] from upenn.edu
F Ghironi… - 2010 - finance.wharton.upenn.edu
Abstract The importance of outside monitoring to mitigate managerial ineffi ciency due to
agency costs has had a long history in the literature. By contrast, the aggregate implications
of the decision to list on financial markets and establish the required monitoring has not ...
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DP1643 How Will Transatlantic Policy Interactions Change with the Advent of EMU?

B Eichengreen… - 1997 - cepr.org
This paper analyses US–European policy interactions under different assumptions about the
policy-making regime and the nature of the fiscal environment, contrasting the standard
Keynesian case with an anti-Keynesian case in which government spending cuts are ...
Cached - All 3 versions

[PDF] Market Deregulation and Optimal Monetary Policy in a Monetary Union

[PDF] from uqam.ca
M Cacciatore, HEC Montréal, G Fiori… - 2011 - economie.uqam.ca
Abstract The global crisis that began in 2008 reheated the debate on market deregulation as
a tool to spur economic performance. This paper addresses the consequences of increased
flexibility in goods and labor markets for the conduct of monetary policy in a monetary ...
Related articles - View as HTML

15. EMU and enlargement

B Eichengreen… - Economic and Monetary Union and …, 2002 - books.google.com
In this chapter we consider how Europe's monetary union will evolve in the next five to ten
years. We concentrate on what is likely to be the most important change in that period,
namely, the increased number and heterogeneity of the participating states. While the ...
All 2 versions

[PDF] Comments on 'International Portfolios with Supply, Demand and Redistributive Shocks,'by Nicolas Coeurdacier, Robert Kollmann, and Philippe Martin

[PDF] from psu.edu
F Ghironi - 2007 - Citeseer
This is a very interesting paper. It sets out to explain three stylized facts of international
portfolios for industrial economies:(i) Portfolios are biased toward local equity.(ii) They are
long in foreign currency, short in domestic currency.(iii) Valuation effects caused by ...
Related articles - View as HTML

DP4595 International Trade and Macroeconomic Dynamics with Heteroegenous Firms

F Ghironi… - 2004 - cepr.org
We develop a stochastic, general equilibrium, two-country model of trade and
macroeconomic dynamics. Productivity differs across individual, monopolistically
competitive firms in each country. Firms face a sunk entry cost in the domestic market and ...
Cached - All 3 versions

DP8564 Endogenous Entry, Product Variety, and Business Cycles

FO Bilbiie, F Ghironi… - 2011 - cepr.org
This paper builds a framework for the analysis of macroeconomic fluctuations that
incorporates the endogenous determination of the number of producers and products over
the business cycle. Economic expansions induce higher entry rates by prospective ...
Cached - All 3 versions

[PDF] Endogenous Entry, Product Variety, and Business Cycles!

[PDF] from harvard.edu
F Ghironi… - 2007 - economics.harvard.edu
Abstract This paper builds a framework for the analysis of macroeconomic fluctuations that
incorpo $ rates the endogenous determination of the number of producers over the business
cycle. Eco $ nomic expansions induce higher entry rates by prospective entrants subject ...
Related articles - View as HTML - All 4 versions

[PDF] Comments on" Monetary policy rules and exchange rate flexibility in a simple dynamic general equilibrium model"

[PDF] from bc.edu
Full text - MIT Libraries
F Ghironi… - Journal of Macroeconomics, 2004 - bc.edu
This very nice paper clearly fits in Devereux's agenda of promoting exchange rate stability
and international monetary cooperation as a better alternative to floating exchange rates
and independent, uncoordinated policies. Our first comment has to do with whether or not ...
Related articles - All 7 versions

European Currency Union

F Ghironi… - cepr.org
What would be the optimal size of the European currency union and what would be the
optimal form for the intra-EU exchange rate regime? According to Fabio Ghironi and
Francesco Giavazzi, the answer depends on the interactions both among the fiscal and ...
Cached

DP1217 European Monetary Unification: The Challenges Ahead

B Eichengreen… - 1995 - cepr.org
This paper reviews the problems that must be resolved at the Intergovernmental Conference
in 1996 to clear the way for European Monetary Union: locking in Germany's commitment to
the project, and reconciling EMU with variable geometry. It reviews what we know about ...
Cached - All 3 versions

[PDF] Comment on" International Portfolios with Supply, Demand and Redistributive Shocks"

[PDF] from nber.org
F Ghironi - NBER International Seminar on Macroeconomics 2007, 2009 - nber.org
This is a very interesting paper. It sets out to explain three stylized facts of international
portfolios for industrial economies:(a) Portfolios are biased toward local equity,(b) They are
long in foreign currency, short in domestic currency,(c) Valuation effects caused by ...
Related articles - View as HTML - All 4 versions

DP1547 Out in the Sunshine? Outsiders, Insiders, and the United States in 1998

F Ghironi… - 1997 - cepr.org
The paper analyses monetary and fiscal policy interactions in a three-country world,
interpreted to represent two EU economies and the rest of the world. The analysis extends
well-known results in the literature on international policy spillovers by investigating the ...
Cached - All 3 versions

Equity Sales and Manager Efficiency Across Firms and the Business Cycle

F Ghironi… - IMES Discussion Paper Series, 2011 - ideas.repec.org
Smaller firms sell more equity in response to expansions than do larger firms. Also,
consumption is more pro-cyclical for high income groups than others. In this paper, we
present a model that captures key features of both of these patterns found in recent ...
Cached - Library Search - All 4 versions

[PDF] Stock Market Listing and Business Cycles with Heterogeneous Firms

[PDF] from eea-esem.com
F Ghironi… - 2008 - eea-esem.com
Abstract We develop a general equilibrium, macroeconomic model in which endogenous
stock market listing decisions by entrepreneurs and portfolio decisions by households jointly
determine the composition of the equity portfolio, stock market prices, and aggregate ...
Related articles

DP8565 Optimal Monetary Policy with Endogenous Entry and Product Variety

FO Bilbiie, I Fujiwara… - 2011 - cepr.org
We show that deviations from long-run stability of product prices are optimal in the presence
of endogenous producer entry and product variety in a sticky-price model with monopolistic
competition in which price stability would be optimal in the absence of entry. Specifically, a ...
Cached - All 3 versions

[PDF] Medium Term Business Cycles in Developing Countries

[PDF] from freit.org
FG Fatás, G Gopinath, A Kraay, M Mestieri… - freit.org
Abstract Business cycle fluctuations in developed economies (N) tend to have large and
persistent effects on developing countries (S). We study the transmission of business cycle
fluctuations for developed to developing economies with a two) country asymmetric DSGE ...
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[HTML] Union monétaire européenne et coopération monétaire internationale

[HTML] from persee.fr
Full text - MIT Libraries
B Eichengreen, F Ghironi… - Politique étrangère, 1997 - persee.fr
Cet article décrit les chances et les difficultés que présente l'UEM pour la coopération
monétaire internationale. Alors que le soutien institutionnel et intellectuel à la coordination
de la politique monétaire en Europe sera renforcé avec l'UEM, une des lacunes du traité ...
Cited by 1 - Related articles - BL Direct - All 2 versions

[CITATION] US-EC Policy Interactions in a Post-EMU Setting: A Positive Approach

F Ghironi… - 1994 - Università Commerciale" L. Bocconi" …
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