Francesco
Zanetti
Research Papers
COMPLETED
RESEARCH PAPERS
Agreed and Disagreed
Uncertainty, with Luca Gambetti, Dimitris Korobilis and John Tsoukalas,
R&R Review of Economic Studies.
The
Causal Effects of Global Supply Chain Disruptions on Macroeconomic Outcomes:
Theory and Evidence, with Xiwen Bai, Jesus Fernandez-Villaverde, and
Yiliang Li. (Large file, it will take a few seconds to load)
The
Signaling Effects of Fiscal Announcements, with Leonardo Melosi, Hiroshi
Morita, and Anna Rogantini Picco.
Imperfect Information,
Heterogeneous Demand Shocks, and Inflation Dynamics, with Tatsushi Okuda
and Tomohiro Tsuruga.
Technological
Synergies, Heterogenous Firms, and Idiosyncratic Volatility, with Jesus
Fernandez-Villaverde and Yang Yu.
Unemployment in a
Commodity-Rich Economy: How Relevant Is Dutch Disease?, with Mariano
Kulish, James Morley and Nadine Yamout, (Version of June 2023).
PUBLISHED PAPERS
The
Adoption and Termination of Suppliers over the Business Cycle, with Le Xu
and Yang Yu, Journal of Monetary Economics, (Version of
October 2024) (Version
of March 2024), (Version
of August 2023), forthcoming.
Search
Complementarities, Aggregate Fluctuations and Fiscal Policy, with Jesus
Fernandez-Villaverde, Federico Mandelman, and Yang Yu, Review of Economic
Studies, (Version
of February 2021), forthcoming.
Testing
the Effectiveness of Unconventional Monetary Policy in Japan and the United
States, with Daisuke Ikeda, Shangshang Li, and Sophocles Mavroeidis, American
Economic Journal: Macroeconomics 16 (April 2024): 250-286. (Version of October
2022), (Version of May 2021).
State Dependence of Fiscal
Multipliers: the Source of Fluctuations Matters,
with Mishel Ghassibe, Journal of Monetary Economics 132 (November 2022):
1-23 (lead article). (Version
of December 2020). 2023 Journal of Monetary Economics Best Paper Award
conferred biannually by the Editors.
News Shocks under
Financial Frictions, with Christoph Gortz, and John Tsoukalas, American
Economic Journal: Macroeconomics 14 (October 2022): 210-243.
Monetary Policy,
Firm Heterogeneity, and Product Variety, with Masashige Hamano, European
Economic Review 144 (May 2022).
The
“Matthew Effect” and Market Concentration: Search Complementarities and
Monopsony Power, with Jesus Fernandez-Villaverde, Federico Mandelman, and
Yang Yu, Journal of Monetary Economics 121 (July 2021): 62-90.
State
Dependence in Labor Market Fluctuations, with
Carlo Pizzinelli and Kostantinos Theodoridis, International Economic Review
61 (August 2020): 1027-1072 (lead article).
On-line
Appendix. (Version of
August 2018; Appendix)
Changing
Macroeconomic Dynamics at the Zero Lower Bound, with Philip Liu, Haroon
Mumtaz and Konstantinos Theodoridis, Journal
of Business & Economic Statistics 37 (July 2019): 391-404.
On Quality and Variety Bias
in Aggregate Prices, with Masashige Hamano, Journal of Money, Credit, and Banking 50 (September 2018):
1343-1363.
Endogenous Product Turnover
and Macroeconomic Dynamics, with Masashige Hamano, Review of Economic Dynamics 26 (October 2017): 263-279.
Financial
Shocks, Job Destruction Shocks and Labor Market Fluctuations, Macroeconomic Dynamics 23 (April 2019):
1137-1165.
Optimal Monetary Policy and
Fiscal Policy Interaction in a non-Ricardian Economy, with Massimiliano
Rigon. International Journal of Central
Banking 14 (June 2018): 389-436.
News and Labor
Market Dynamics in the Data and in Matching Models, with Konstantinos
Theodoridis, Canadian Journal of
Economics 49 (August 2016): 906-930.
Optimal Inflation Weights in the Euro
Area, with Daniela Bragoli and Massimiliano Rigon, International Journal of Central Banking 12 (June 2016): 357-383.
The Effect of Labor
and Financial Frictions on Aggregate Fluctuations, with Haroon Mumtaz, Macroeconomic Dynamics 20 (January 2016): 313-341.
Labor Market Dynamics: a Time-varying Analysis, with
Haroon Mumtaz, Oxford Bulletin of
Economics and Statistics 77 (June 2015): 319-338 (lead article).
Factor Adjustment Costs: a Structural Investigation, with Haroon Mumtaz, Journal of Economic Dynamics
and Control 51 (February 2015): 341-355.
Housing and Relative Risk
Aversion, Economics Letters 123
(April 2014): 23-25.
Flexible Prices, Labor
Market Frictions and the Response of Employment to Technology Shocks, with
Federico Mandelman, Labour Economics
26 (January 2014): 94-102.
The
Impact of the Volatility of Monetary Policy Shocks, with Haroon Mumtaz, Journal of Money, Credit, and Banking 45 (June 2013): 535-558
(lead article).
Wage Rigidities in an
Estimated DSGE Model of the UK Labor Market, with Renato Faccini and Steve
Millard, Manchester School 81 (September 2013): 66-99.
Labor
Markets and the Friedman Rule, Central Bank Review 13
(May 2013): 59-78.
The
Laffer Curve in a Frictional Labor Market, The B.E. Journal of Macroeconomics 12 (September 2012): Issue 1.
Neutral Technology Shocks and
the Dynamics of Labor Input: Results from an Agnostic Identification, with
Haroon Mumtaz, International Economic
Review 53 (February 2012): 235-254. Appendix (pdf).
Banking and the Role of Money in
the Business Cycle, Journal of
Macroeconomics 34 (March 2012): 87-94.
Labor Policy Instruments and
the Cyclical Behavior of Vacancies and Unemployment, Economica 78 (October 2011): 779–787.
Labor Market Institutions and
Aggregate Fluctuations in a Search and Matching Model, European Economic Review 55 (June 2011): 644-658.
Labor Market Reform and Price
Stability: an Application to the Euro Area, with
Carlos Thomas, Journal of Monetary
Economics 56 (September 2009): 885-899.
Effects of Product and
Labor Market Regulation on Macroeconomic Outcomes, Journal of Macroeconomics 31 (June 2009): 320-332.
Labor and Investment Frictions in a
Real Business Cycle Model, Journal of
Economic Dynamics and Control 32 (October 2008): 3294-3314.
The Advantage of Tying
One’s Hands: Revisited, with Mirco Soffritti, International Journal of Finance and Economics 13 (April 2008):
135-149.
A Non-Walrasian Labor Market in a
Monetary Model of the Business Cycle, Journal
of Economic Dynamics and Control 31 (July 2007): 2413-2437.
Labor
Market Frictions, Indeterminacy and Interest Rate Rules, Journal of Money, Credit, and Banking 38
(October 2006): 1959-1969.
Labor Market Frictions into Staggered Wage
Contracts, Economics Bulletin 13
(October 2006): 1-7.
BOOKS
The Effect of News Shocks and
Monetary Policy, with Christoph Gortz, Luca
Gambetti, Dimitiris Korobilis, and John D. Tsoukalas, Advances in
Econometrics, Volume in honor of Fabio Canova.
Vintage Article: The
Effect of Monetary Policy Shocks in the United Kingdom: an
External Instruments Approach, with Christoph Gortz, John Tsoukalas, and
Wei Li, Macroeconomic Dynamics, vintage article, forthcoming.
Labour Market and Monetary
Policy Reforms in the UK: a Structural Interpretation of the Implications,
(eds, Chadha, J, Chrystal, A, Pearlman, J, Smith, P and Wright, S), The Causes
and Consequences of the Long UK Expansion: 1992 to 2007, Cambridge University Press, 2016.
Prototype, Micro-founded, DSGE Models in
Scilab, CCBS Technical Handbooks Series
n. 3, June 2010.
Estimating General Equilibrium Models: an Application with Labor Market Frictions, with Federico
Mandelman, CCBS Technical Handbooks
Series n. 1, October 2008.