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Florin O. Bilbiie

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Florin O. Bilbiie & Tommaso Monacelli & Roberto Perotti, 2019. "Is Government Spending at the Zero Lower Bound Desirable?," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(3), pages 147-173, July.

    Mentioned in:

    1. Is Government Spending at the Zero Lower Bound Desirable? (AEJ:MA 2019) in ReplicationWiki ()
  2. Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2012. "Endogenous Entry, Product Variety, and Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 120(2), pages 304-345.

    Mentioned in:

    1. Endogenous Entry, Product Variety, and Business Cycles (JPE 2012) in ReplicationWiki ()

Working papers

  1. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.

    Cited by:

    1. Xing Guo & Pablo Ottonello & Diego J. Perez, 2023. "Monetary Policy and Redistribution in Open Economies," Journal of Political Economy Macroeconomics, University of Chicago Press, vol. 1(1), pages 191-241.
    2. Stefano Maria Corbellini, 2022. "Optimal monetary and transfer policy in a liquidity trap," Diskussionsschriften dp2216, Universitaet Bern, Departement Volkswirtschaft.
    3. Altavilla, Carlo & Bussière, Matthieu & Galí, Jordi & Gorodnichenko, Yuriy & Gürkaynak, Refet S. & Rey, Hélène, 2024. "A research program on monetary policy for Europe," Journal of Monetary Economics, Elsevier, vol. 147(S).

  2. Bilbiie, F. O., 2024. "Monetary Policy and Heterogeneity: An Analytical Framework," Cambridge Working Papers in Economics 2432, Faculty of Economics, University of Cambridge.

    Cited by:

    1. Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
    2. Christian Moser & Farzad Saidi & Benjamin Wirth & Stefanie Wolter, 2024. "Credit Supply, Firms, and Earnings Inequality," CRC TR 224 Discussion Paper Series crctr224_2024_558, University of Bonn and University of Mannheim, Germany.
    3. Nils M. Gornemann & Sebastian Hildebrand & Keith Kuester, 2024. "Limited (Energy) Supply, Monetary Policy, and Sunspots," International Finance Discussion Papers 1395, Board of Governors of the Federal Reserve System (U.S.).
    4. Anmol Bhandari & David Evans & Mikhail Golosov & Thomas J. Sargent, 2018. "Inequality, Business Cycles, and Monetary-Fiscal Policy," Working Papers 18-26, New York University, Leonard N. Stern School of Business, Department of Economics.
    5. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    6. Grimaud, Alex, 2021. "Precautionary saving and un-anchored expectations," ECON WPS - Working Papers in Economic Theory and Policy 08/2021, TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit.
    7. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," PSE Working Papers halshs-03243698, HAL.
    8. Chan, Jenny & Diz, Sebastian & Kanngiesser, Derrick, 2022. "Energy Prices and Household Heterogeneity: Monetary Policy in a Gas-TANK," MPRA Paper 118543, University Library of Munich, Germany, revised Dec 2022.
    9. Masek, Frantisek & Zemlicka, Jan, 2024. "Average inflation targeting: how far to look into the past and the future?," Working Paper Series 2955, European Central Bank.
    10. Davide Debortoli & Jordi Galí, 2021. "Idiosyncratic income risk and aggregate fluctuations," Economics Working Papers 1796, Department of Economics and Business, Universitat Pompeu Fabra, revised Jun 2023.
    11. Sushant Acharya & Keshav Dogra, 2020. "Understanding HANK: Insights From a PRANK," Econometrica, Econometric Society, vol. 88(3), pages 1113-1158, May.
    12. Bonchi, Jacopo & Nisticò, Salvatore, 2024. "Optimal monetary policy and rational asset bubbles," European Economic Review, Elsevier, vol. 170(C).
    13. He Nie & Jordan Roulleau-Pasdeloup, 2022. "Online Appendix to "The promises (and perils) of control-contingent forward guidance"," Online Appendices 21-153, Review of Economic Dynamics.
    14. Stéphane Auray & Aurélien Eyquem, 2022. "Optimal Unemployment Insurance in a THANK Model," Working Papers hal-03652789, HAL.
    15. Zhao, Junzhu, 2023. "Wealth in utility, the Taylor principle and determinacy," Journal of Macroeconomics, Elsevier, vol. 76(C).
    16. Aurélien Eyquem, 2020. "The Macroeconomic Effects of Lockdown policies," Post-Print halshs-02910895, HAL.
    17. Brand, Claus & Obstbaum, Meri & Coenen, Günter & Sondermann, David & Lydon, Reamonn & Ajevskis, Viktors & Hammermann, Felix & Angino, Siria & Hernborg, Nils & Basso, Henrique & Hertweck, Matthias & Bi, 2021. "Employment and the conduct of monetary policy in the euro area," Occasional Paper Series 275, European Central Bank.
    18. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.
    19. Martin B. Holm, 2023. "Monetary transmission with income risk," Scandinavian Journal of Economics, Wiley Blackwell, vol. 125(2), pages 441-460, April.
    20. Saroj Bhattarai & Jae Won Lee & Choongryul Yang, 2023. "Redistribution and the monetary‐fiscal policy mix," Quantitative Economics, Econometric Society, vol. 14(3), pages 817-853, July.
    21. Uroš Herman & Matija Lozej, 2023. "Who Gets Jobs Matters: Monetary Policy and the Labour Market in HANK and SAM," Working Papers halshs-04328572, HAL.
    22. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    23. Atif Mian & Ludwig Straub & Amir Sufi, 2020. "Indebted Demand," CESifo Working Paper Series 8210, CESifo.
    24. Adrien Auclert & Ludwig Straub & Matthew Rognlie, 2019. "Micro Jumps, Macro Humps: monetary policy and business cycles in an estimated HANK model," 2019 Meeting Papers 1449, Society for Economic Dynamics.
    25. Bhatnagar, Aryaman, 2023. "Monetary policy with non-Ricardian households," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 12-26.
    26. Mitman, Kurt & Broer, Tobias & Kramer, John, 2022. "The Curious Incidence of Monetary Policy Across the Income Distribution," CEPR Discussion Papers 17589, C.E.P.R. Discussion Papers.
    27. Carreño Bustos, José Gabo, 2023. "Flexible Contracts as Business Cycle Stabilizers," Discussion Paper 2023-007, Tilburg University, Center for Economic Research.
    28. Francesco Ferrante & Matthias Paustian, 2019. "Household Debt and the Heterogeneous Effects of Forward Guidance," International Finance Discussion Papers 1267, Board of Governors of the Federal Reserve System (U.S.).
    29. Diba, Behzad & Loisel, Olivier, 2021. "Pegging the interest rate on bank reserves: A resolution of New Keynesian puzzles and paradoxes," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 230-244.
    30. Macaulay, Alistair, 2021. "The attention trap: Rational inattention, inequality, and fiscal policy," European Economic Review, Elsevier, vol. 135(C).
    31. Adrien Auclert & Bence Bardóczy & Matthew Rognlie & Ludwig Straub, 2019. "Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models," NBER Working Papers 26123, National Bureau of Economic Research, Inc.
    32. Gerke, Rafael & Giesen, Sebastian & Scheer, Alexander, 2020. "The power of forward guidance in a quantitative TANK model," Economics Letters, Elsevier, vol. 186(C).
    33. Vasileios Karaferis & Tatiana Kirsanova & Campbell Leith, 2024. "Equity versus Efficiency: Optimal Monetary and Fiscal Policy in a HANK Economy," Working Papers 2024_11, Business School - Economics, University of Glasgow.
    34. Oh, Joonseok & Rogantini Picco, Anna, 2020. "Macro Uncertainty and Unemployment Risk," Working Paper Series 395, Sveriges Riksbank (Central Bank of Sweden).
    35. Hoffmann, Mathias & Pavlova, Lora & Mönch, Emanuel & Schultefrankenfeld, Guido, 2022. "Would households understand average inflation targeting?," Discussion Papers 17/2022, Deutsche Bundesbank.
    36. Cantore, Cristiano & Freund, Lukas, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    37. Gibbs, Christopher G. & McClung, Nigel, 2019. "Does my model predict a forward guidance puzzle?," Bank of Finland Research Discussion Papers 19/2019, Bank of Finland.
    38. Jae Won Lee & Seunghyeon Lee, 2025. "Monetary Non-Neutrality in a Multisector Economy: The Role of Risk-Sharing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 55, January.
    39. Cem Gorgun, 2019. "Monetary Unions and National Welfare," Koç University-TUSIAD Economic Research Forum Working Papers 1912, Koc University-TUSIAD Economic Research Forum.
    40. Adrien Auclert & Ludwig Straub & Matthew Rognlie, 2018. "The Intertemporal Keynesian Cross," 2018 Meeting Papers 999, Society for Economic Dynamics.
    41. Edouard Challe, 2020. "Uninsured Unemployment Risk and Optimal Monetary Policy in a Zero-Liquidity Economy," PSE-Ecole d'économie de Paris (Postprint) hal-04645688, HAL.
    42. Nakata, Taisuke & Ogaki, Ryota & Schmidt, Sebastian & Yoo, Paul, 2019. "Attenuating the forward guidance puzzle: Implications for optimal monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 90-106.
    43. Naubert, Christopher, 2019. "Monetary Policy and Redistribution: A Look under the Hatch with TANK," CEPR Discussion Papers 14159, C.E.P.R. Discussion Papers.
    44. Galo Nuño & Carlos Thomas, 2020. "Optimal Monetary Policy with Heterogeneous Agents," CESifo Working Paper Series 8670, CESifo.
    45. Cristiano Cantore & Pascal Meichtry, 2024. "Unwinding Quantitative Easing: State Dependency and Household Heterogeneity," Working papers 955, Banque de France.
    46. YiLi Chien & Yi Wen, 2023. "Optimal Dynamic Tax-Transfer Policies in Heterogeneous-Agents Economies," Working Papers 2023-009, Federal Reserve Bank of St. Louis.
    47. Koimisis, Georgios & Giannikos, Christos I., 2024. "Inequality, premium and the timing of resolution of uncertainty," Finance Research Letters, Elsevier, vol. 60(C).
    48. James Bullard & Aarti Singh & Jacek Suda, 2024. "Optimal Macroeconomic Policies in a Heterogeneous World," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(3), pages 991-1041, September.
    49. Paweł Kopiec, 2022. "A Theory of The Procyclical Effectiveness of Forward Guidance," KAE Working Papers 2022-081, Warsaw School of Economics, Collegium of Economic Analysis.
    50. Kopiec, Paweł, 2024. "Monetary-Fiscal Forward Guidance," MPRA Paper 120563, University Library of Munich, Germany.
    51. Nicolas Caramp & Dejanir Silva, 2023. "Fiscal Policy and the Monetary Transmission Mechanism," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 716-746, December.
    52. Holden, Tom D., 2024. "Robust Real Rate Rules," EconStor Preprints 279481, ZBW - Leibniz Information Centre for Economics, revised 2024.
    53. Cristiano Cantore & Vedanta Dhamija, 2024. "The Perils of a Dual Mandate," Economics Series Working Papers 1059, University of Oxford, Department of Economics.
    54. Edouard Djeutem & Mario He & Abeer Reza & Yang Zhang, 2022. "Household Heterogeneity and the Performance of Monetary Policy Frameworks," Staff Working Papers 22-12, Bank of Canada.
    55. Roman Sustek, 2021. "Yield curve and the business cycle in conventional times," Discussion Papers 2122, Centre for Macroeconomics (CFM).
    56. Stephane Dupraz & Magali Marx, 2023. "Anchoring Boundedly Rational Expectations," Working papers 936, Banque de France.
    57. Chikhale, Nisha, 2023. "The effects of uncertainty shocks: Implications of wealth inequality," European Economic Review, Elsevier, vol. 154(C).
    58. Airaudo, Marco, 2020. "Temptation and forward-guidance," Journal of Economic Theory, Elsevier, vol. 186(C).
    59. François Courtoy, 2022. "When Household Heterogeneity Matters Optimal Fiscal Policy in a Medium-Scale TANK Model," LIDAM Discussion Papers IRES 2022009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    60. Jung, Yongseung, 2019. "What drives business cycles in Korea?," Japan and the World Economy, Elsevier, vol. 52(C).
    61. Ida, Daisuke, 2024. "Household heterogeneity and the price puzzle in a new Keynesian model," Journal of Macroeconomics, Elsevier, vol. 79(C).
    62. Jacopo Bonchi & Salvatore Nisticò, 2022. "Heterogeneity, Bubbles and Monetary Policy," Working Papers 5/22, Sapienza University of Rome, DISS.
    63. Bernstein, Joshua, 2021. "A model of state-dependent monetary policy," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 904-917.
    64. Cristiano Cantore & Edoardo Leonardi, 2025. "Monetary-Fiscal Interaction and the Liquidity of Government Debt," Papers 2501.17458, arXiv.org.
    65. Stéphane Dupraz, 2023. "The Dynamic IS Curve when there is both Investment and Savings," Working papers 905, Banque de France.
    66. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," Working Papers halshs-03243698, HAL.
    67. Laura Feiveson & Nils M. Gornemann & Julie L. Hotchkiss & Karel Mertens & Jae W. Sim, 2020. "Distributional Considerations for Monetary Policy Strategy," Finance and Economics Discussion Series 2020-073, Board of Governors of the Federal Reserve System (U.S.).
    68. Daeha Cho, 2023. "Unemployment risk, MPC heterogeneity, and business cycles," Quantitative Economics, Econometric Society, vol. 14(2), pages 717-751, May.
    69. Robert Amano & Stefano Gnocchi & Sylvain Leduc & Joel Wagner, 2020. "Average Is Good Enough: Average-Inflation Targeting and the ELB," Working Paper Series 2020-21, Federal Reserve Bank of San Francisco.
    70. Roulleau-Pasdeloup, Jordan, 2020. "Optimal monetary policy and determinacy under active/passive regimes," European Economic Review, Elsevier, vol. 130(C).
    71. Florin O. Bilbiie, 2022. "Neo-Fisherian Policies and Liquidity Traps," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 378-403, October.
    72. Bartal, Mehdi & Becard, Yvan, 2024. "Consumption tax cuts vs stimulus payments," Journal of Public Economics, Elsevier, vol. 239(C).
    73. Spector, Mariano, 2024. "Redistributive fiscal policy and marginal propensities to consume," Journal of Economic Theory, Elsevier, vol. 218(C).
    74. Lepetit, Antoine & Fuentes-Albero, Cristina, 2022. "The limited power of monetary policy in a pandemic," European Economic Review, Elsevier, vol. 147(C).
    75. Bence Bardóczy & Mateo Velásquez-Giraldo, 2024. "HANK Comes of Age," Finance and Economics Discussion Series 2024-052, Board of Governors of the Federal Reserve System (U.S.).
    76. Sanjay R. Singh & Nicolas Caramp, 2020. "Bond Premium Cyclicality and Liquidity Traps," Working Papers 336, University of California, Davis, Department of Economics.
    77. Bilbiie, Florin O. & Känzig, Diego R. & Surico, Paolo, 2022. "Capital and income inequality: An aggregate-demand complementarity," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 154-169.
    78. Stefano Maria Corbellini, 2022. "Optimal monetary and transfer policy in a liquidity trap," Diskussionsschriften dp2216, Universitaet Bern, Departement Volkswirtschaft.
    79. Christopher Gibbs & Nigel McClung, 2023. "Online Appendix to "Code and data files for "Does my model predict a forward guidance puzzle?"," Online Appendices 22-197, Review of Economic Dynamics.
    80. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    81. Loria, Francesca & Matthes, Christian & Wang, Mu-Chun, 2022. "Economic theories and macroeconomic reality," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 105-117.
    82. Mangiante, Giacomo, 2024. "The geographic effects of carbon pricing," European Economic Review, Elsevier, vol. 168(C).
    83. Christina Patterson, 2022. "The Matching Multiplier and the Amplification of Recessions," Working Papers 22-20, Center for Economic Studies, U.S. Census Bureau.
    84. Eusepi, Stefano & Gibbs, Chris & Preston, Bruce, 2021. "Forward guidance with unanchored expectations," Bank of Finland Research Discussion Papers 11/2021, Bank of Finland.

  3. Bilbiie, F. O. & Melitz, M. J., 2023. "Aggregate-Demand Amplification of Supply Disruptions: The Entry-Exit Multiplier," Cambridge Working Papers in Economics 2368, Faculty of Economics, University of Cambridge.

    Cited by:

    1. Masashige Hamano & Francesco Zanetti, 2020. "Monetary Policy, Firm Heterogeneity, and Product Variety," Working Papers 2005, Waseda University, Faculty of Political Science and Economics.
    2. Luca Fornaro & Martin Wolf, 2020. "The scars of supply shocks: Implications for monetary policy," Economics Working Papers 1748, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2023.
    3. Jean-Paul L’Huillier & Sanjay R. Singh & Donghoon Yoo, 2023. "Incorporating Diagnostic Expectations into the New Keynesian Framework," Working Paper Series 2023-19, Federal Reserve Bank of San Francisco.
    4. Daniel E. Rigobon & Thibaut Duprey & Artur Kotlicki & Philip Schnattinger & Soheil Baharian & Thomas R. Hurd, 2022. "Business Closures and (Re)Openings in Real-Time Using Google Places: Proof of Concept," JRFM, MDPI, vol. 15(4), pages 1-10, April.
    5. Francesco Furlanetto & Kåre Hagelund & Frank Hansen & Ørjan Robstad, 2023. "Norges Bank Output Gap Estimates: Forecasting Properties, Reliability, Cyclical Sensitivity and Hysteresis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(1), pages 238-267, February.
    6. Graham, James & Ozbilgin, Murat, 2021. "Age, industry, and unemployment risk during a pandemic lockdown," Journal of Economic Dynamics and Control, Elsevier, vol. 133(C).
    7. Stefano Fasani & Haroon Mumtaz & Lorenza Rossi, 2023. "Monetary Policy and Firm Dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 278-296, January.
    8. Guido Ascari & Andrea Colciago & Riccardo Silvestrini, 2021. "Business Dynamism, Sectoral Reallocation and Productivity in a Pandemic," Working Papers 725, DNB.
    9. Alan J. Auerbach & Yuriy Gorodnichenko & Daniel Murphy, 2020. "Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy," NBER Working Papers 27366, National Bureau of Economic Research, Inc.
    10. Ascari, Guido & Fasani, Stefano & Grazzini, Jakob & Rossi, Lorenza, 2023. "Endogenous uncertainty and the macroeconomic impact of shocks to inflation expectations," Journal of Monetary Economics, Elsevier, vol. 140(S), pages 48-63.
    11. Bonam, Dennis & Smădu, Andra, 2021. "The long-run effects of pandemics on inflation: Will this time be different?," Economics Letters, Elsevier, vol. 208(C).
    12. Anastasiia Antonova & Mykhailo Matvieiev & Céline Poilly, 2024. "Supply Shocks in the Fog: The Role of Endogenous Uncertainty," AMSE Working Papers 2427, Aix-Marseille School of Economics, France.
    13. Alessandro Di Nola & Leo Kaas & Haomin Wang, 2022. "Rescue Policies for Small Businesses in the Covid-19 Recession," CESifo Working Paper Series 9641, CESifo.
    14. Alessandro Di Nola & Leo Kaas & Haomin Wang, 2023. "Online Appendix to "Rescue policies for small businesses in the Covid-19 recession"," Online Appendices 22-55, Review of Economic Dynamics.
    15. Pierre Olivier Gourinchas, 2023. "International Macroeconomics: From the Great Financial Crisis to COVID-19, and Beyond," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 1-34, March.
    16. Shah, Sayar Ahmad & Garg, Bhavesh, 2023. "Testing policy effectiveness during COVID-19: An NK-DSGE analysis," Journal of Asian Economics, Elsevier, vol. 84(C).

  4. Bilbiie, F. & Primiceri, G. E. & Tambalotti, A., 2022. "Inequality and Business Cycles," Cambridge Working Papers in Economics 2275, Faculty of Economics, University of Cambridge.

    Cited by:

    1. Cristiano Cantore & Giovanni Di Bartolomeo & Francesco Saverio Gaudio, 2025. "The Unequal Costs of Pollution: Carbon Tax, Inequality, and Redistribution," Papers 2503.00142, arXiv.org.
    2. Alice Albonico & Guido Ascari & Qazi Haque, 2024. "The (Ir)Relevance of Rule‐of‐Thumb Consumers for U.S. Business Cycle Fluctuations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(4), pages 769-804, June.
    3. Zheng Gong, 2025. "When Does Household Heterogeneity Matter for Aggregate Fluctuations?," CRC TR 224 Discussion Paper Series crctr224_2025_624, University of Bonn and University of Mannheim, Germany.
    4. Dusan Stojanovic, 2023. "Quantitative Easing in the Euro Area: Implications for Income and Wealth Inequality," CERGE-EI Working Papers wp760, The Center for Economic Research and Graduate Education - Economics Institute, Prague.

  5. Bilbiie, Florin & Monacelli, Tommas & Perotti, Roberto, 2020. "Fiscal policy in Europe: a helicopter view," CEPR Discussion Papers 15382, C.E.P.R. Discussion Papers.

    Cited by:

    1. Duque Gabriel, Ricardo & Klein, Mathias & Pesso, Ana Sofia, 2020. "The Effects of Government Spending in the Eurozone," Working Paper Series 400, Sveriges Riksbank (Central Bank of Sweden).
    2. Olga Francová & Ermal Hitaj & John Goossen & Robert Kraemer & Andreja Lenarčič & Georgios Palaiodimos, 2021. "EU fiscal rules: reform considerations," Discussion Papers 17, European Stability Mechanism, revised 25 Oct 2021.

  6. Bilbiie, Florin & Känzig, Diego & Surico, Paolo, 2019. "Capital and Income Inequality: An Aggregate-Demand Complementarity," CEPR Discussion Papers 14118, C.E.P.R. Discussion Papers.

    Cited by:

    1. Chan, Jenny & Diz, Sebastian & Kanngiesser, Derrick, 2022. "Energy Prices and Household Heterogeneity: Monetary Policy in a Gas-TANK," MPRA Paper 118543, University Library of Munich, Germany, revised Dec 2022.
    2. Rude, Johanna, 2024. "Income Inequality and Aggregate Demand," MPRA Paper 120875, University Library of Munich, Germany.
    3. Tsiaras, Stylianos, 2023. "Asset purchases, limited asset markets participation and inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 154(C).
    4. Roulleau-Pasdeloup, Jordan, 2023. "Analyzing Linear DSGE models: the Method of Undetermined Markov States," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    5. Ranaldi, Marco & Palagi, Elisa, 2022. "Heterogeneity in Macroeconomics: The Compositional Inequality Perspective," SocArXiv fjcxb_v1, Center for Open Science.
    6. Adrien Auclert & Ludwig Straub & Matthew Rognlie, 2019. "Micro Jumps, Macro Humps: monetary policy and business cycles in an estimated HANK model," 2019 Meeting Papers 1449, Society for Economic Dynamics.
    7. Felipe Alves & Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2020. "A Further Look at the Propagation of Monetary Policy Shocks in HANK," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 521-559, December.
    8. Charalampidis, Nikolaos, 2022. "Top income shares, inequality, and business cycles: United States, 1957–2016," European Economic Review, Elsevier, vol. 150(C).
    9. Cantore, Cristiano & Freund, Lukas, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    10. Cantore, Cristiano & Ferroni, Filippo & Mumtaz, Hroon & Theophilopoulou, Angeliki, 2022. "A tail of labour supply and a tale of monetary policy," Bank of England working papers 989, Bank of England.
    11. Jesús Fernández-Villaverde & Joël Marbet & Galo Nuño Barrau & Omar Rachedi, 2024. "Inequality and the zero lower bound," BIS Working Papers 1160, Bank for International Settlements.
    12. Marco Ranaldi & Elisa Palagi, 2022. "Heterogeneity in Macroeconomics: The Compositional Inequality Perspective," LIS Working papers 848, LIS Cross-National Data Center in Luxembourg.
    13. Cristiano Cantore & Pascal Meichtry, 2024. "Unwinding Quantitative Easing: State Dependency and Household Heterogeneity," Working papers 955, Banque de France.
    14. Tao Tang & Lizeth Cuesta & Brayan Tillaguango & Rafael Alvarado & Abdul Rehman & Diana Bravo-Benavides & Natalia Zárate, 2022. "Causal Link between Technological Innovation and Inequality Moderated by Public Spending, Manufacturing, Agricultural Employment, and Export Diversification," Sustainability, MDPI, vol. 14(14), pages 1-25, July.
    15. Cristiano Cantore & Edoardo Leonardi, 2025. "Monetary-Fiscal Interaction and the Liquidity of Government Debt," Papers 2501.17458, arXiv.org.
    16. Stéphane Dupraz, 2023. "The Dynamic IS Curve when there is both Investment and Savings," Working papers 905, Banque de France.
    17. Zheng Gong, 2025. "When Does Household Heterogeneity Matter for Aggregate Fluctuations?," CRC TR 224 Discussion Paper Series crctr224_2025_624, University of Bonn and University of Mannheim, Germany.
    18. Dusan Stojanovic, 2023. "Quantitative Easing in the Euro Area: Implications for Income and Wealth Inequality," CERGE-EI Working Papers wp760, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    19. Luzie Thiel, 2023. "Monetary Policy and Inequality: A Two-way Relation," MAGKS Papers on Economics 202304, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).

  7. Bilbiie, Florin, 2018. "Neo-Fisherian Policies and Liquidity Traps," CEPR Discussion Papers 13334, C.E.P.R. Discussion Papers.

    Cited by:

    1. Andrew Phiri, 2024. "A multiresolution analysis of NeoFisher effects in industrialized economies: Have monetary policy dynamics being misconstrued in the west?," Future Business Journal, Springer, vol. 10(1), pages 1-21, December.
    2. Philip Coyle & Taisuke Nakata, 2019. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," Finance and Economics Discussion Series 2019-036, Board of Governors of the Federal Reserve System (U.S.).
    3. Pablo Cuba-Borda & Sanjay R. Singh, 2022. "Understanding Persistent ZLB: Theory and Assessment," Working Papers 346, University of California, Davis, Department of Economics.
    4. Roulleau-Pasdeloup, Jordan, 2023. "Analyzing Linear DSGE models: the Method of Undetermined Markov States," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    5. Guido Ascari & Sophocles Mavroeidis & Nigel McClung, 2022. "Coherence without Rationality at the Zero Lower Bound," Papers 2208.02073, arXiv.org, revised Oct 2023.
    6. Felici, Marco & Kenny, Geoff & Friz, Roberta, 2023. "Consumer savings behaviour at low and negative interest rates," European Economic Review, Elsevier, vol. 157(C).
    7. Sergeyev, Dmitriy & Gorodnichenko, Yuriy, 2021. "Zero Lower Bound on Inflation Expectations," CEPR Discussion Papers 16729, C.E.P.R. Discussion Papers.
    8. Philip Coyle & Taisuke Nakata, 2020. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," CARF F-Series CARF-F-485, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    9. Schmidt, Sebastian & Nakata, Taisuke, 2020. "Expectations-driven liquidity traps: Implications for monetary and fiscal policy," CEPR Discussion Papers 15422, C.E.P.R. Discussion Papers.
    10. Paul Beaudry & Katsiaryna Kartashova & Césaire A Meh, 2022. "Gazing at r*: A Hysteresis Perspective," RBA Annual Conference Papers acp2022-08, Reserve Bank of Australia, revised Dec 2022.
    11. Kerstin Bernoth & Helmut Herwartz & Lasse Trienens, 2024. "Interest Rates, Convenience Yields, and Inflation Expectations: Drivers of US Dollar Exchange Rates," Discussion Papers of DIW Berlin 2100, DIW Berlin, German Institute for Economic Research.
    12. Paul Beaudry & Katya Kartashova & Césaire Meh, 2023. "Gazing at r-star: A Hysteresis Perspective," Staff Working Papers 23-5, Bank of Canada.
    13. Airaudo, Marco & Hajdini, Ina, 2023. "Wealth effects, price markups, and the neo-Fisherian hypothesis," European Economic Review, Elsevier, vol. 157(C).
    14. Kerstin Bernoth & Helmut Herwartz & Lasse Trienens, 2023. "The Impacts of Global Risk and US Monetary Policy on US Dollar Exchange Rates and Excess Currency Returns," Discussion Papers of DIW Berlin 2037, DIW Berlin, German Institute for Economic Research.
    15. Ascari, Guido & Mavroeidis, Sophocles, 2022. "The unbearable lightness of equilibria in a low interest rate environment," Journal of Monetary Economics, Elsevier, vol. 127(C), pages 1-17.
    16. Guido Ascari & Jacopo Bonchi, 2019. "(Dis)Solving the Zero Lower Bound Equilibrium through Income Policy," Working Papers 10/19, Sapienza University of Rome, DISS.
    17. Conrad, Christian & Enders, Zeno & Glas, Alexander, 2020. "The role of information and experience for households' inflation expectations," Working Papers 20, German Research Foundation's Priority Programme 1859 "Experience and Expectation. Historical Foundations of Economic Behaviour", Humboldt University Berlin.
    18. Hills, Timothy S. & Nakata, Taisuke & Schmidt, Sebastian, 2019. "Effective lower bound risk," European Economic Review, Elsevier, vol. 120(C).
    19. Chunbing Cai & Jordan Roulleau-Pasdeloup, 2023. "Simple Analytics of the Government Investment Multiplier," Papers 2302.11212, arXiv.org, revised Sep 2023.
    20. Chunbing Cai & Jordan Roulleau-Pasdeloup & Zhongxi Zheng, 2025. "Endogenous Persistence at the Effective Lower Bound," Papers 2501.06473, arXiv.org, revised Apr 2025.
    21. Roulleau-Pasdeloup, Jordan, 2020. "Optimal monetary policy and determinacy under active/passive regimes," European Economic Review, Elsevier, vol. 130(C).
    22. Sanjay R. Singh & Nicolas Caramp, 2020. "Bond Premium Cyclicality and Liquidity Traps," Working Papers 336, University of California, Davis, Department of Economics.
    23. Piergallini, Alessandro, 2022. "Average inflation targeting and macroeconomic stability," Economics Letters, Elsevier, vol. 219(C).
    24. Tayler, William J. & Zilberman, Roy, 2024. "Unconventional policies in state-dependent liquidity traps," Journal of Economic Dynamics and Control, Elsevier, vol. 168(C).
    25. Ida, Daisuke, 2024. "The neo-Fisherian effect in a new Keynesian model with real money balances," MPRA Paper 120575, University Library of Munich, Germany.
    26. Yoichiro Tamanyu, 2020. "The Role of Nonlinearity in Indeterminate Models: An Application to Expectations-Driven Liquidity Traps," Keio-IES Discussion Paper Series 2020-023, Institute for Economics Studies, Keio University.

  8. Bilbiie, Florin, 2017. "Monetary Neutrality with Sticky Prices and Free Entry," CEPR Discussion Papers 12068, C.E.P.R. Discussion Papers.

    Cited by:

    1. Masashige Hamano & Francesco Zanetti, 2020. "Monetary Policy, Firm Heterogeneity, and Product Variety," Working Papers 2005, Waseda University, Faculty of Political Science and Economics.
    2. Kaszab, Lorant & Marsal, Ales & Rabitsch, Katrin, 2022. "Asset pricing with free entry and exit of firms," Economics Letters, Elsevier, vol. 217(C).
    3. Boitier, Vincent, 2024. "Private ownership in monopolistic competition models," Research in Economics, Elsevier, vol. 78(4).
    4. Casarin, Roberto & Costantini, Mauro & Paradiso, Antonio, 2021. "On the role of dependence in sticky price and sticky information Phillips curve: Modelling and forecasting," Economic Modelling, Elsevier, vol. 105(C).
    5. Khalil, Makram & Lewis, Vivien, 2024. "Product turnover and endogenous price flexibility in uncertain times," CEPR Discussion Papers 18941, C.E.P.R. Discussion Papers.
    6. Bilbiie, F. O. & Trabandt, M., 2023. "Sticky Prices or Sticky Wages? An Equivalence Result," Janeway Institute Working Papers 2318, Faculty of Economics, University of Cambridge.
    7. Andrea Colciago & Vivien Lewis & Branka Matyska, 2023. "Corporate taxes, productivity, and business dynamism," Working Papers 512, University of Milano-Bicocca, Department of Economics, revised May 2023.
    8. Takushi Kurozumi & Willem Van Zandweghe, 2025. "Supply Shocks, Employment Gap, and Monetary Policy," Bank of Japan Working Paper Series 25-E-4, Bank of Japan.

  9. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.

    Cited by:

    1. Nicolas Caramp & Dejanir Silva, 2019. "Fiscal Origins of Monetary Paradoxes," 2019 Meeting Papers 1281, Society for Economic Dynamics.

  10. Florin Bilbiie & Xavier Ragot, 2017. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," SciencePo Working papers Main hal-03471839, HAL.

    Cited by:

    1. Acharya, Sushant & CHALLE, Edouard & Dogra, Keshav, 2020. "Optimal Monetary Policy According to HANK," CEPR Discussion Papers 14429, C.E.P.R. Discussion Papers.
    2. Fergus Cumming & Paul Hubert, 2019. "The role of households' borrowing constraints in the transmission of monetary policy," SciencePo Working papers Main hal-03403257, HAL.
    3. Debortoli, Davide & Galí, Jordi, 2024. "Heterogeneity and Aggregate Fluctuations: Insights from TANK models," CEPR Discussion Papers 19134, C.E.P.R. Discussion Papers.
    4. Anmol Bhandari & David Evans & Mikhail Golosov & Thomas J. Sargent, 2018. "Inequality, Business Cycles, and Monetary-Fiscal Policy," Working Papers 18-26, New York University, Leonard N. Stern School of Business, Department of Economics.
    5. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    6. François Le Grand & Xavier Ragot, 2022. "Managing Inequality over Business Cycles: Optimal Policies with Heterogeneous Agents and Aggregate Shocks," Post-Print hal-03501381, HAL.
    7. Leonardo Melosi & Giorgio Primiceri & Andrea Tambalotti, 2021. "Introduction to the Special Issue in Memory of Alejandro Justiniano," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 1-3, July.
    8. Chan, Jenny & Diz, Sebastian & Kanngiesser, Derrick, 2022. "Energy Prices and Household Heterogeneity: Monetary Policy in a Gas-TANK," MPRA Paper 118543, University Library of Munich, Germany, revised Dec 2022.
    9. Bonchi, Jacopo & Nisticò, Salvatore, 2024. "Optimal monetary policy and rational asset bubbles," European Economic Review, Elsevier, vol. 170(C).
    10. Galí, Jordi, 2014. "The Effects of a Money-Financed Fiscal Stimulus," CEPR Discussion Papers 10165, C.E.P.R. Discussion Papers.
    11. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.
    12. Charles Labrousse & Yann Perdereau, 2024. "Balance sheet policies and Central Bank losses in a HANK model," PSE Working Papers halshs-04577286, HAL.
    13. Bhatnagar, Aryaman, 2023. "Monetary policy with non-Ricardian households," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 12-26.
    14. Yunmin Chen & YiLi Chien & Yi Wen & C. C. Yang, 2021. "Are Unconditional Lump-sum Transfers a Good Idea?," Working Papers 2021-002, Federal Reserve Bank of St. Louis, revised 10 Sep 2021.
    15. Le Grand, François & Ragot, Xavier, 2023. "Optimal policies with heterogeneous agents: Truncation and transitions," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    16. Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," NBER Working Papers 24845, National Bureau of Economic Research, Inc.
    17. Mr. Niels-Jakob H Hansen & Alessandro Lin & Rui Mano, 2020. "Should Inequality Factor into Central Banks' Decisions?," IMF Working Papers 2020/196, International Monetary Fund.
    18. Gross, Isaac & Hansen, James, 2021. "Optimal policy design in nonlinear DSGE models: An n-order accurate approximation," European Economic Review, Elsevier, vol. 140(C).
    19. Rafael Dix-Carneiro & Sharon Traiberman, 2022. "Globalization, Trade Imbalances and Inequality," NBER Working Papers 30188, National Bureau of Economic Research, Inc.
    20. Davide Debortoli & Jordi Galí, 2017. "Monetary policy with heterogeneous agents: Insights from TANK models," Economics Working Papers 1686, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2021.
    21. Boris Chafwehé & François Courtoy, 2021. "Optimal Taxes and Transfers with Household Heterogeneity," LIDAM Discussion Papers IRES 2021009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    22. Edouard Challe, 2020. "Uninsured Unemployment Risk and Optimal Monetary Policy in a Zero-Liquidity Economy," PSE-Ecole d'économie de Paris (Postprint) hal-04645688, HAL.
    23. Galo Nuño & Carlos Thomas, 2020. "Optimal Monetary Policy with Heterogeneous Agents," CESifo Working Paper Series 8670, CESifo.
    24. YiLi Chien & Yi Wen, 2023. "Optimal Dynamic Tax-Transfer Policies in Heterogeneous-Agents Economies," Working Papers 2023-009, Federal Reserve Bank of St. Louis.
    25. Chien, YiLi & Wen, Yi, 2024. "The Ramsey steady-state conundrum in heterogeneous-agent economies," Journal of Economic Theory, Elsevier, vol. 220(C).
    26. Christophe Blot & Jérôme Creel & Paul Hubert, 2019. "Thoughts on a review of the ECB's monetary policy strategy," SciencePo Working papers Main hal-03403251, HAL.
    27. Jolan Mohimont & Maite de Sola Perea & Marie-Denise Zachary, 2022. "Softening the blow: Job retention schemes in the pandemic," Working Paper Research 414, National Bank of Belgium.
    28. Chiara Punzo & Lorenza Rossi, 2023. "A Money‐Financed Fiscal Stimulus: Redistribution and Social Welfare," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 595-617, March.
    29. François Courtoy, 2022. "When Household Heterogeneity Matters Optimal Fiscal Policy in a Medium-Scale TANK Model," LIDAM Discussion Papers IRES 2022009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    30. Benjamin Schwanebeck & Luzie Thiel, 2025. "The Supply-Side Effects of Household Heterogeneity," MAGKS Papers on Economics 202503, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    31. Xi Wang & Jiayang Li & Guangbin Zhang, 2022. "Mixed Monetary–Fiscal Policies and Macroeconomic Fluctuations: An Analysis Based on the Dynamic Stochastic General Equilibrium Model," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(2), pages 167-196, March.
    32. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," Discussion Papers of DIW Berlin 1995, DIW Berlin, German Institute for Economic Research.
    33. Fergus Cumming & Paul Hubert, 2019. "The Role of Households' Borrowing Constraints in the Transmission of Monetary Policy This paper investigates how the transmission of monetary policy to the real economy depends on the distribution of ," Documents de Travail de l'OFCE 2019-20, Observatoire Francais des Conjonctures Economiques (OFCE).
    34. Luzie Thiel, 2023. "Monetary Policy and Inequality: A Two-way Relation," MAGKS Papers on Economics 202304, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).

  11. Bilbiie, Florin, 2017. "The New Keynesian Cross," CEPR Discussion Papers 11989, C.E.P.R. Discussion Papers.

    Cited by:

    1. KLEIN, Mathias & POLATTIMUR, Hamza & WINKLER, Roland, 2020. "Fiscal spending multipliers over the household leverage cycle," Working Papers 2020007, University of Antwerp, Faculty of Business and Economics.
    2. Debortoli, Davide & Galí, Jordi, 2024. "Heterogeneity and Aggregate Fluctuations: Insights from TANK models," CEPR Discussion Papers 19134, C.E.P.R. Discussion Papers.
    3. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    4. Florin O. Bilbiie & Marc J. Melitz, 2020. "Aggregate-Demand Amplification of Supply Disruptions: The Entry-Exit Multiplier," NBER Working Papers 28258, National Bureau of Economic Research, Inc.
    5. He Nie & Jordan Roulleau-Pasdeloup, 2022. "Online Appendix to "The promises (and perils) of control-contingent forward guidance"," Online Appendices 21-153, Review of Economic Dynamics.
    6. Cumming, Fergus & Hubert, Paul, 2022. "House prices, the distribution of household debt and the refinancing channel of monetary policy," Economics Letters, Elsevier, vol. 212(C).
    7. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
    8. Berman, Yonatan & Milanovic, Branko & , Stone Center, 2020. "Homoploutia: Top Labor and Capital Incomes in the United States, 1950—2020," SocArXiv td9ux, Center for Open Science.
    9. Brand, Claus & Obstbaum, Meri & Coenen, Günter & Sondermann, David & Lydon, Reamonn & Ajevskis, Viktors & Hammermann, Felix & Angino, Siria & Hernborg, Nils & Basso, Henrique & Hertweck, Matthias & Bi, 2021. "Employment and the conduct of monetary policy in the euro area," Occasional Paper Series 275, European Central Bank.
    10. Martin B. Holm, 2023. "Monetary transmission with income risk," Scandinavian Journal of Economics, Wiley Blackwell, vol. 125(2), pages 441-460, April.
    11. Jonathan J Adams & Eugenio Rojas, 2023. "Household Consumption and Dispersed Information," Working Papers 001009, University of Florida, Department of Economics.
    12. William Ginn & Marc Pourroy, 2022. "The Contribution of Food Subsidy Policy to Monetary Policy in India," Post-Print hal-02944209, HAL.
    13. Pavel Vikharev & Anna Novak & Andrei Shulgin, 2023. "Inequality and monetary policy: THRANK model," Bank of Russia Working Paper Series wps113, Bank of Russia.
    14. Farmer, Roger & Farmer, Leland, 2022. "Zoomers and Boomers: Asset Prices and Intergenerational Inequality," CEPR Discussion Papers 17594, C.E.P.R. Discussion Papers.
    15. Florin O Bilbiie & Xavier Ragot, 2020. "Optimal monetary policy and liquidity with heterogeneous households," Post-Print hal-03100875, HAL.
    16. Andrew T. Foerster & Jose Mustre-del-Rio, 2014. "Search with wage posting under sticky prices," Research Working Paper RWP 14-17, Federal Reserve Bank of Kansas City.
    17. Tzamourani, Panagiota, 2019. "The interest rate exposure of euro area households," Discussion Papers 01/2019, Deutsche Bundesbank.
    18. Oskolkov, Aleksei, 2023. "Exchange rate policy and heterogeneity in small open economies," Journal of International Economics, Elsevier, vol. 142(C).
    19. Felipe Alves & Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2020. "A Further Look at the Propagation of Monetary Policy Shocks in HANK," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S2), pages 521-559, December.
    20. Carreño Bustos, José Gabo, 2023. "Flexible Contracts as Business Cycle Stabilizers," Discussion Paper 2023-007, Tilburg University, Center for Economic Research.
    21. Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," NBER Working Papers 24845, National Bureau of Economic Research, Inc.
    22. Kopiec, Paweł, 2022. "The government spending multiplier in the Heterogeneous Agent New Keynesian model," European Economic Review, Elsevier, vol. 145(C).
    23. Greg Kaplan & Giovanni L. Violante, 2021. "The Marginal Propensity to Consume in Heterogeneous Agent Models," Working Papers 2021-9, Princeton University. Economics Department..
    24. Kame Babilla, Thierry U., 2023. "Digital innovation and financial access for small and medium-sized enterprises in a currency union," Economic Modelling, Elsevier, vol. 120(C).
    25. Sebastian Gechert, 2023. "Fiscal policy: post- or New Keynesian?," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 20(2), pages 338-355, November.
    26. Jacopo Bonchi, 2020. "Asset Price Bubbles and Monetary Policy: Revisiting the Nexus at the Zero Lower Bound," Working Papers 9/20, Sapienza University of Rome, DISS.
    27. Cristiano Cantore & Giovanni Di Bartolomeo & Francesco Saverio Gaudio, 2025. "The Unequal Costs of Pollution: Carbon Tax, Inequality, and Redistribution," Papers 2503.00142, arXiv.org.
    28. Lemoine Matthieu & Lind Jesper, 2021. "Fiscal Stimulus in Liquidity Traps: Conventional or Unconventional Policies?," Working papers 799, Banque de France.
    29. Charalampidis, Nikolaos, 2022. "Top income shares, inequality, and business cycles: United States, 1957–2016," European Economic Review, Elsevier, vol. 150(C).
    30. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, C.E.P.R. Discussion Papers.
    31. Proebsting, Christian, 2022. "Market segmentation and spending multipliers," Journal of Monetary Economics, Elsevier, vol. 128(C), pages 1-19.
    32. Cantore, Cristiano & Ferroni, Filippo & Mumtaz, Hroon & Theophilopoulou, Angeliki, 2022. "A tail of labour supply and a tale of monetary policy," Bank of England working papers 989, Bank of England.
    33. Rupal Kamdar & Walker Ray, 2024. "Attention-Driven Sentiment and the Business Cycle," CAEPR Working Papers 2024-003 Classification-, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    34. Stéphane Dupraz & Hervé Le Bihan & Julien Matheron, 2022. "Make-up Strategies with Finite Planning Horizons but Forward-Looking Asset Prices," Working papers 862, Banque de France.
    35. Gibbs, Christopher G. & McClung, Nigel, 2019. "Does my model predict a forward guidance puzzle?," Bank of Finland Research Discussion Papers 19/2019, Bank of Finland.
    36. Alan J. Auerbach & Yuriy Gorodnichenko & Daniel Murphy, 2020. "Inequality, Fiscal Policy and COVID19 Restrictions in a Demand-Determined Economy," NBER Working Papers 27366, National Bureau of Economic Research, Inc.
    37. Alice Albonico & Guido Ascari & Qazi Haque, 2024. "The (Ir)Relevance of Rule‐of‐Thumb Consumers for U.S. Business Cycle Fluctuations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(4), pages 769-804, June.
    38. Jesús Fernández-Villaverde & Joël Marbet & Galo Nuño Barrau & Omar Rachedi, 2024. "Inequality and the zero lower bound," BIS Working Papers 1160, Bank for International Settlements.
    39. Sebastian Diz & Mario Giarda & Damián Romero, 2021. "Inequality, Nominal Rigidities, and Aggregate Demand," Working Papers Central Bank of Chile 929, Central Bank of Chile.
    40. Slacalek, Jiri & Tristani, Oreste & Violante, Giovanni L., 2020. "Household balance sheet channels of monetary policy: A back of the envelope calculation for the euro area," Journal of Economic Dynamics and Control, Elsevier, vol. 115(C).
    41. Marco Ranaldi & Elisa Palagi, 2022. "Heterogeneity in Macroeconomics: The Compositional Inequality Perspective," LIS Working papers 848, LIS Cross-National Data Center in Luxembourg.
    42. Dengler, Thomas & Gehrke, Britta, 2021. "Short-Time Work and Precautionary Savings," IZA Discussion Papers 14329, Institute of Labor Economics (IZA).
    43. Matusche, Alexander & Wacks, Johannes, 2023. "Does wealth inequality affect the transmission of monetary policy?," Journal of Macroeconomics, Elsevier, vol. 75(C).
    44. Nils M. Gornemann & Keith Kuester & Makoto Nakajima, 2021. "Doves for the Rich, Hawks for the Poor? Distributional Consequences of Systematic Monetary Policy," Opportunity and Inclusive Growth Institute Working Papers 50, Federal Reserve Bank of Minneapolis.
    45. Cristiano Cantore & Pascal Meichtry, 2024. "Unwinding Quantitative Easing: State Dependency and Household Heterogeneity," Working papers 955, Banque de France.
    46. Liu, Shih-fu & Huang, Wei-chi & Lai, Ching-chong, 2022. "The Paradox of Toil at the Zero Lower Bound in a TANK Model," European Economic Review, Elsevier, vol. 148(C).
    47. Krenz, Johanna & Tsiaras, Stylianos, 2024. "Household inequality and the transmission of QE in euro area countries," WiSo-HH Working Paper Series 83, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory.
    48. Jacopo Bonchi, 2021. "Online Appendix to "Asset Price Bubbles and Monetary Policy: Revisiting the Nexus at the Zero Lower Bound"," Online Appendices 20-262, Review of Economic Dynamics.
    49. Myroslav Pidkuyko, 2022. "Online Appendix to "Heterogeneous Spillovers of Housing Credit Policy"," Online Appendices 21-100, Review of Economic Dynamics.
    50. Paweł Kopiec, 2022. "A Theory of The Procyclical Effectiveness of Forward Guidance," KAE Working Papers 2022-081, Warsaw School of Economics, Collegium of Economic Analysis.
    51. Kopiec, Paweł, 2024. "Monetary-Fiscal Forward Guidance," MPRA Paper 120563, University Library of Munich, Germany.
    52. Paul Hubert & Frédérique Savignac, 2023. "Monetary Policy and Labor Income Inequality: the Role of Extensive and Intensive Margins," SciencePo Working papers Main hal-04524715, HAL.
    53. Ginn, William & Pourroy, Marc, 2019. "Optimal monetary policy in the presence of food price subsidies," Economic Modelling, Elsevier, vol. 81(C), pages 551-575.
    54. Roman Horvath & Lorant Kaszab & Ales Marsal, 2020. "Equity Premium and Monetary Policy in a Model with Limited Asset Market Participation," MNB Working Papers 2020/3, Magyar Nemzeti Bank (Central Bank of Hungary).
    55. James Cloyne & Clodomiro Ferreira & Paolo Surico, 2020. "Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 87(1), pages 102-129.
    56. Roman Sustek, 2021. "Yield curve and the business cycle in conventional times," Discussion Papers 2122, Centre for Macroeconomics (CFM).
    57. Hubert Paul, 2021. "Does household mortgage debt influence the transmission of monetary policy in the United Kingdom? [L’endettement immobilier des ménages influence-t-il la transmission de la politique monétaire au R," Bulletin de la Banque de France, Banque de France, issue 236.
    58. Chikhale, Nisha, 2023. "The effects of uncertainty shocks: Implications of wealth inequality," European Economic Review, Elsevier, vol. 154(C).
    59. Myroslav Pidkuyko, 2019. "Heterogeneous spillovers of housing credit policy," Working Papers 1940, Banco de España.
    60. Kase, Hanno & Melosi, Leonardo & Rottner, Matthias, 2022. "Estimating Nonlinear Heterogeneous Agents Models with Neural Networks," CEPR Discussion Papers 17391, C.E.P.R. Discussion Papers.
    61. Dupraz, Stéphane & Le Bihan, Hervé & Matheron, Julien, 2024. "Make-up strategies with finite planning horizons but infinitely forward-looking asset prices," Journal of Monetary Economics, Elsevier, vol. 143(C).
    62. Ginn, William, 2024. "The paradox of fossil fuel subsidies," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 333-358.
    63. Orlando Gomes, 2021. "Hand-to-mouth consumers, rule-of-thumb savers, and optimal control," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 16(2), pages 229-263, April.
    64. Ida, Daisuke, 2024. "Household heterogeneity and the price puzzle in a new Keynesian model," Journal of Macroeconomics, Elsevier, vol. 79(C).
    65. Stéphane Dupraz, 2023. "The Dynamic IS Curve when there is both Investment and Savings," Working papers 905, Banque de France.
    66. Pierre Olivier Gourinchas, 2023. "International Macroeconomics: From the Great Financial Crisis to COVID-19, and Beyond," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 1-34, March.
    67. Daeha Cho, 2023. "Unemployment risk, MPC heterogeneity, and business cycles," Quantitative Economics, Econometric Society, vol. 14(2), pages 717-751, May.
    68. Tomás Opazo, 2023. "The Heterogeneous Effect of Monetary Policy Shocks: Evidence for US Households," Working Papers Central Bank of Chile 992, Central Bank of Chile.
    69. Lepetit, Antoine & Fuentes-Albero, Cristina, 2022. "The limited power of monetary policy in a pandemic," European Economic Review, Elsevier, vol. 147(C).
    70. Li, Pei-Hao & Barazza, Elsa & Strachan, Neil, 2022. "The influences of non-optimal investments on the scale-up of smart local energy systems in the UK electricity market," Energy Policy, Elsevier, vol. 170(C).
    71. Bilbiie, Florin O. & Känzig, Diego R. & Surico, Paolo, 2022. "Capital and income inequality: An aggregate-demand complementarity," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 154-169.
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    73. Hannah Magdalena Seidl & Fabian Seyrich, 2021. "Unconventional Fiscal Policy in HANK," Discussion Papers of DIW Berlin 1953, DIW Berlin, German Institute for Economic Research.
    74. Nicolas Caramp & Dejanir Silva, 2019. "Fiscal Origins of Monetary Paradoxes," 2019 Meeting Papers 1281, Society for Economic Dynamics.
    75. Christina Patterson, 2022. "The Matching Multiplier and the Amplification of Recessions," Working Papers 22-20, Center for Economic Studies, U.S. Census Bureau.
    76. Christian Bredemeier & Babette Jansen & Roland Winkler, 2023. "Labor Market Power and the Effects of Fiscal Policy," Jena Economics Research Papers 2023-015, Friedrich-Schiller-University Jena.

  12. Bilbiie, Florin & Ragot, Xavier, 2017. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," CEPR Discussion Papers 11814, C.E.P.R. Discussion Papers.

    Cited by:

    1. Acharya, Sushant & CHALLE, Edouard & Dogra, Keshav, 2020. "Optimal Monetary Policy According to HANK," CEPR Discussion Papers 14429, C.E.P.R. Discussion Papers.
    2. Fergus Cumming & Paul Hubert, 2019. "The role of households' borrowing constraints in the transmission of monetary policy," SciencePo Working papers Main hal-03403257, HAL.
    3. Debortoli, Davide & Galí, Jordi, 2024. "Heterogeneity and Aggregate Fluctuations: Insights from TANK models," CEPR Discussion Papers 19134, C.E.P.R. Discussion Papers.
    4. Anmol Bhandari & David Evans & Mikhail Golosov & Thomas J. Sargent, 2018. "Inequality, Business Cycles, and Monetary-Fiscal Policy," Working Papers 18-26, New York University, Leonard N. Stern School of Business, Department of Economics.
    5. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    6. François Le Grand & Xavier Ragot, 2022. "Managing Inequality over Business Cycles: Optimal Policies with Heterogeneous Agents and Aggregate Shocks," Post-Print hal-03501381, HAL.
    7. Leonardo Melosi & Giorgio Primiceri & Andrea Tambalotti, 2021. "Introduction to the Special Issue in Memory of Alejandro Justiniano," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 1-3, July.
    8. Chan, Jenny & Diz, Sebastian & Kanngiesser, Derrick, 2022. "Energy Prices and Household Heterogeneity: Monetary Policy in a Gas-TANK," MPRA Paper 118543, University Library of Munich, Germany, revised Dec 2022.
    9. Bonchi, Jacopo & Nisticò, Salvatore, 2024. "Optimal monetary policy and rational asset bubbles," European Economic Review, Elsevier, vol. 170(C).
    10. Galí, Jordi, 2014. "The Effects of a Money-Financed Fiscal Stimulus," CEPR Discussion Papers 10165, C.E.P.R. Discussion Papers.
    11. YiLi Chien & Yi Wen, 2020. "Time-Inconsistent Optimal Quantity of Debt," Working Papers 2020-037, Federal Reserve Bank of St. Louis, revised 02 Sep 2021.
    12. Charles Labrousse & Yann Perdereau, 2024. "Balance sheet policies and Central Bank losses in a HANK model," PSE Working Papers halshs-04577286, HAL.
    13. Bhatnagar, Aryaman, 2023. "Monetary policy with non-Ricardian households," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 12-26.
    14. Yunmin Chen & YiLi Chien & Yi Wen & C. C. Yang, 2021. "Are Unconditional Lump-sum Transfers a Good Idea?," Working Papers 2021-002, Federal Reserve Bank of St. Louis, revised 10 Sep 2021.
    15. Le Grand, François & Ragot, Xavier, 2023. "Optimal policies with heterogeneous agents: Truncation and transitions," Journal of Economic Dynamics and Control, Elsevier, vol. 156(C).
    16. Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," NBER Working Papers 24845, National Bureau of Economic Research, Inc.
    17. Mr. Niels-Jakob H Hansen & Alessandro Lin & Rui Mano, 2020. "Should Inequality Factor into Central Banks' Decisions?," IMF Working Papers 2020/196, International Monetary Fund.
    18. Gross, Isaac & Hansen, James, 2021. "Optimal policy design in nonlinear DSGE models: An n-order accurate approximation," European Economic Review, Elsevier, vol. 140(C).
    19. Rafael Dix-Carneiro & Sharon Traiberman, 2022. "Globalization, Trade Imbalances and Inequality," NBER Working Papers 30188, National Bureau of Economic Research, Inc.
    20. Davide Debortoli & Jordi Galí, 2017. "Monetary policy with heterogeneous agents: Insights from TANK models," Economics Working Papers 1686, Department of Economics and Business, Universitat Pompeu Fabra, revised May 2021.
    21. Boris Chafwehé & François Courtoy, 2021. "Optimal Taxes and Transfers with Household Heterogeneity," LIDAM Discussion Papers IRES 2021009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    22. Edouard Challe, 2020. "Uninsured Unemployment Risk and Optimal Monetary Policy in a Zero-Liquidity Economy," PSE-Ecole d'économie de Paris (Postprint) hal-04645688, HAL.
    23. Galo Nuño & Carlos Thomas, 2020. "Optimal Monetary Policy with Heterogeneous Agents," CESifo Working Paper Series 8670, CESifo.
    24. YiLi Chien & Yi Wen, 2023. "Optimal Dynamic Tax-Transfer Policies in Heterogeneous-Agents Economies," Working Papers 2023-009, Federal Reserve Bank of St. Louis.
    25. Chien, YiLi & Wen, Yi, 2024. "The Ramsey steady-state conundrum in heterogeneous-agent economies," Journal of Economic Theory, Elsevier, vol. 220(C).
    26. Christophe Blot & Jérôme Creel & Paul Hubert, 2019. "Thoughts on a review of the ECB's monetary policy strategy," SciencePo Working papers Main hal-03403251, HAL.
    27. Jolan Mohimont & Maite de Sola Perea & Marie-Denise Zachary, 2022. "Softening the blow: Job retention schemes in the pandemic," Working Paper Research 414, National Bank of Belgium.
    28. Chiara Punzo & Lorenza Rossi, 2023. "A Money‐Financed Fiscal Stimulus: Redistribution and Social Welfare," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 595-617, March.
    29. François Courtoy, 2022. "When Household Heterogeneity Matters Optimal Fiscal Policy in a Medium-Scale TANK Model," LIDAM Discussion Papers IRES 2022009, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    30. Benjamin Schwanebeck & Luzie Thiel, 2025. "The Supply-Side Effects of Household Heterogeneity," MAGKS Papers on Economics 202503, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    31. Xi Wang & Jiayang Li & Guangbin Zhang, 2022. "Mixed Monetary–Fiscal Policies and Macroeconomic Fluctuations: An Analysis Based on the Dynamic Stochastic General Equilibrium Model," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(2), pages 167-196, March.
    32. Oliver Pfäuti & Fabian Seyrich, 2022. "A Behavioral Heterogeneous Agent New Keynesian Model," Discussion Papers of DIW Berlin 1995, DIW Berlin, German Institute for Economic Research.
    33. Fergus Cumming & Paul Hubert, 2019. "The Role of Households' Borrowing Constraints in the Transmission of Monetary Policy This paper investigates how the transmission of monetary policy to the real economy depends on the distribution of ," Documents de Travail de l'OFCE 2019-20, Observatoire Francais des Conjonctures Economiques (OFCE).
    34. Luzie Thiel, 2023. "Monetary Policy and Inequality: A Two-way Relation," MAGKS Papers on Economics 202304, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).

  13. Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.

    Cited by:

    1. He Nie & Jordan Roulleau-Pasdeloup, 2022. "Online Appendix to "The promises (and perils) of control-contingent forward guidance"," Online Appendices 21-153, Review of Economic Dynamics.
    2. Roulleau-Pasdeloup, Jordan, 2023. "Analyzing Linear DSGE models: the Method of Undetermined Markov States," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
    3. Nakata, Taisuke & Schmidt, Sebastian & Budianto, Flora, 2020. "Average inflation targeting and the interest rate lower bound," Working Paper Series 2394, European Central Bank.
    4. Gaballo, Gaetano & Andrade, Philippe & Mengus, Eric & Mojon, Benoit, 2018. "Forward Guidance and Heterogeneous Beliefs," CEPR Discussion Papers 12650, C.E.P.R. Discussion Papers.
    5. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    6. Sheen, Jeffrey & Wang, Ben Zhe, 2023. "Do monetary condition news at the zero lower bound influence households’ expectations and readiness to spend?," European Economic Review, Elsevier, vol. 152(C).
    7. Florin O Bilbiie & Xavier Ragot, 2020. "Optimal monetary policy and liquidity with heterogeneous households," Post-Print hal-03100875, HAL.
    8. Taisuke Nakata & Takeki Sunakawa, 2020. "Credible Forward Guidance," CARF F-Series CARF-F-484, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    9. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, C.E.P.R. Discussion Papers.
    10. Nakata, Taisuke & Ogaki, Ryota & Schmidt, Sebastian & Yoo, Paul, 2019. "Attenuating the forward guidance puzzle: Implications for optimal monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 90-106.
    11. André, Marine-Charlotte & Traficante, Guido, 2020. "Forward Guidance in Small Open Economy," MPRA Paper 104600, University Library of Munich, Germany.
    12. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    13. Chunbing Cai & Jordan Roulleau-Pasdeloup, 2023. "Simple Analytics of the Government Investment Multiplier," Papers 2302.11212, arXiv.org, revised Sep 2023.
    14. David Finck, 2020. "Forward Guidance Under the Cost Channel," MAGKS Papers on Economics 202004, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    15. Goy, Gavin & Hommes, Cars & Mavromatis, Kostas, 2022. "Forward guidance and the role of central bank credibility under heterogeneous beliefs," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 1240-1274.
    16. Tillmann Peter, 2021. "Robust Monetary Policy Under Uncertainty About the Lower Bound," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(1), pages 309-321, January.
    17. Roulleau-Pasdeloup, Jordan, 2020. "Optimal monetary policy and determinacy under active/passive regimes," European Economic Review, Elsevier, vol. 130(C).
    18. Florin O. Bilbiie, 2022. "Neo-Fisherian Policies and Liquidity Traps," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 378-403, October.
    19. Maliar, Lilia & Taylor, John B., 2024. "Odyssean forward guidance in normal times," Journal of Economic Dynamics and Control, Elsevier, vol. 165(C).
    20. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    21. Tayler, William J. & Zilberman, Roy, 2021. "Optimal Loan Loss Provisions and Welfare," Journal of Macroeconomics, Elsevier, vol. 69(C).
    22. André Marine Charlotte & Traficante Guido, 2021. "Forward Guidance in an Advanced Small Open Economy in the Effective Lower Bound," Working Papers 2021-16, Banco de México.
    23. Naoto Soma, 2021. "Parameter Uncertainty and Effective Lower Bound Risk," IMES Discussion Paper Series 21-E-11, Institute for Monetary and Economic Studies, Bank of Japan.

  14. Bilbiie, Florin & Ghironi, Fabio & Melitz, Marc J, 2016. "Monopoly Power and Endogenous Product Variety: Distortions and Remedies," CEPR Discussion Papers 11294, C.E.P.R. Discussion Papers.

    Cited by:

    1. Masashige Hamano & Francesco Zanetti, 2020. "Monetary Policy, Firm Heterogeneity, and Product Variety," Working Papers 2005, Waseda University, Faculty of Political Science and Economics.
    2. Aysun, Uluc, 2024. "Technology diffusion and international business cycles," Journal of International Money and Finance, Elsevier, vol. 140(C).
    3. Giammario Impullitti & Omar Licandro & Pontus Rendahl, 2018. "Technology, Market Structure and the Gains from Trade," AMSE Working Papers 1839, Aix-Marseille School of Economics, France.
    4. Federico Etro, 2020. "Technological Foundations for Dynamic Models with Endogenous Entry," Working Papers - Economics wp2020_12.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    5. Clancy, Daragh & Valenta, Vilém & Smith, Donal, 2023. "The macroeconomic effects of global supply chain reorientation," Research Technical Papers 5/RT/23, Central Bank of Ireland.
    6. Aysun, Uluc, 2020. "Volatility costs of R&D," European Economic Review, Elsevier, vol. 122(C).
    7. Matteo Cacciatore & Giuseppe Fiori, 2015. "Online Appendix to "The Macroeconomic Effects of Goods and Labor Marlet Deregulation"," Online Appendices 14-313, Review of Economic Dynamics.
    8. Baqaee, David Rezza & Farhi, Emmanuel, 2021. "Darwinian Returns to Scale," CEPR Discussion Papers 15712, C.E.P.R. Discussion Papers.
    9. Behrens, Kristian & Murata, Yasusada, 2012. "Trade, competition, and efficiency," Journal of International Economics, Elsevier, vol. 87(1), pages 1-17.
    10. Ruiyang Hu & Yibai Yang & Zhijie Zheng, 2023. "Effects of subsidies on growth and welfare in a quality‐ladder model with elastic labor," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 25(5), pages 1096-1137, October.
    11. Du, Weijian & Li, Mengjie & Wang, Faming, 2020. "Role of rent-seeking or technological progress in maintaining the monopoly power of energy enterprises: An empirical analysis based on micro-data from China," Energy, Elsevier, vol. 202(C).
    12. Florin O. Bilbiie & Marc J. Melitz, 2020. "Aggregate-Demand Amplification of Supply Disruptions: The Entry-Exit Multiplier," NBER Working Papers 28258, National Bureau of Economic Research, Inc.
    13. Stephen P. King, 2023. "Productivity, Economic Dynamism and the “Failure of Competition” Narrative," Economic Papers, The Economic Society of Australia, vol. 42(3), pages 213-228, September.
    14. Ghironi, Fabio & Chugh, Sanjay K., 2015. "Optimal Fiscal Policy with Endogenous Product Variety," CEPR Discussion Papers 10674, C.E.P.R. Discussion Papers.
    15. Lewis, Vivien & Poilly, Céline, 2012. "Firm entry, markups and the monetary transmission mechanism," Journal of Monetary Economics, Elsevier, vol. 59(7), pages 670-685.
    16. Savagar, Anthony & Dixon, Huw David, 2017. "Firm Entry, Excess Capacity and Aggregate Productivity," Cardiff Economics Working Papers E2017/8, Cardiff University, Cardiff Business School, Economics Section.
    17. Uluc Aysun & Melanie Guldi & Adam Honig & Zeynep Yom, 2025. "R&D, Market Power, and the Cyclicality of Employment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 57(1), pages 151-184, February.
    18. Cheng-wei Chang & Ching-chong Lai, 2021. "Optimal fiscal policies and market structures with monopolistic competition," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 28(6), pages 1385-1411, December.
    19. Andrea Colciago & Lorenza Rossi, 2011. "Endogenous Market Structures and Labor Market Dynamics," Quaderni di Dipartimento 139, University of Pavia, Department of Economics and Quantitative Methods, revised Feb 2011.
    20. Uluc Aysun & Zeynep Yom, 2019. "R&D, innovation spillover and business cycles," Working Papers 2019-04, University of Central Florida, Department of Economics.
    21. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market deregulation and optimal monetary policy in a monetary union," Journal of International Economics, Elsevier, vol. 99(C), pages 120-137.
    22. Wang, Xichao & Gibson, Mark J., 2015. "Trade, non-homothetic preferences, and the impact of country size on wages," Economics Letters, Elsevier, vol. 132(C), pages 121-124.
    23. Inga Heiland, 2017. "Five Essays on International Trade, Factor Flows and the Gains from Globalization," ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 74, May.
    24. Campbell Leith & Simon Wren-Lewis, 2008. "Electoral uncertainty and the deficit bias in a New Keynesian Economy," Working Papers 2009_11, Business School - Economics, University of Glasgow, revised Feb 2009.
    25. Alexander Tarasov & Robertas Zubrickas, 2023. "Optimal income taxation under monopolistic competition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(2), pages 495-523, August.
    26. Kristian Behrens & Yasusada Murata, 2011. "Trade, Competition, and Efficiency (revised version)," Cahiers de recherche 1118, CIRPEE.
    27. Etro, Federico, 2023. "Technologies for endogenous growth," Journal of Mathematical Economics, Elsevier, vol. 105(C).
    28. Ziran Ding, 2022. "Firm heterogeneity, variable markups, and multinational production: A review from trade policy perspective," Journal of Economic Surveys, Wiley Blackwell, vol. 36(5), pages 1311-1357, December.
    29. Dainauskas, J. & Lastauskas, P., 2024. "Trade Shocks and the Transitional Dynamics of Markups," Cambridge Working Papers in Economics 2431, Faculty of Economics, University of Cambridge.
    30. Masashige Hamano & Toshihiro Okubo, 2023. "The Macroeconomic Dynamics of Generations of Firms," Working Papers 2307, Waseda University, Faculty of Political Science and Economics.
    31. Alexey Kushnir & Alexander Tarasov & Robertas Zubrickas, 2020. "On Equilibrium in Monopolistic Competition with Endogenous Labor," CESifo Working Paper Series 8360, CESifo.
    32. Eren Gürer, 2022. "Rising markups and optimal redistributive taxation," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 29(5), pages 1227-1259, October.
    33. Yan Liang, 2023. "Misallocation and Markups: Evidence from Indian Manufacturing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 161-176, December.
    34. Khalil, Makram & Lewis, Vivien, 2024. "Product turnover and endogenous price flexibility in uncertain times," CEPR Discussion Papers 18941, C.E.P.R. Discussion Papers.
    35. Campbell Leith & Simon Wren-Lewis, 2006. "Fiscal Sustainability in a New Keynesian Model," Working Papers 2006_11, Business School - Economics, University of Glasgow, revised Nov 2008.
    36. Federico Etro & Andrea Colciago, 2007. "Endogenous Market Structure and the Business Cycle," Working Papers 126, University of Milano-Bicocca, Department of Economics, revised Nov 2007.
    37. Masashige HAMANO & Toshihiro OKUBO, 2021. "In Search of Lost Time: Firm Vintage and Macroeconomic Dynamics," Discussion papers 21015, Research Institute of Economy, Trade and Industry (RIETI).
    38. Berentsen, Aleksander & Waller, Christopher, 2015. "Optimal Stabilization Policy With Search Externalities," Macroeconomic Dynamics, Cambridge University Press, vol. 19(3), pages 669-700, April.
    39. Bernstein, Joshua & Richter, Alexander W. & Throckmorton, Nathaniel A., 2021. "Cyclical net entry and exit," European Economic Review, Elsevier, vol. 136(C).
    40. Inga Heiland & Wilhelm Kohler, 2013. "Heterogeneous Workers, Trade, and Migration," CESifo Working Paper Series 4387, CESifo.
    41. Bilbiie, Florin O. & Fujiwara, Ippei & Ghironi, Fabio, 2014. "Optimal monetary policy with endogenous entry and product variety," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 1-20.
    42. Hinterlang, Natascha & Jäger, Marius & Stähler, Nikolai & Strobel, Johannes, 2024. "On curbing the rise in energy prices: An examination of different mitigation approaches," Discussion Papers 09/2024, Deutsche Bundesbank.
    43. Theresa Grafeneder-Weissteiner & Ingrid Kubin & Klaus Prettner & Alexia Prskawetz & Stefan Wrzaczek, 2012. "Coping with Inefficiencies in a New Economic Geography Model," VID Working Papers 1204, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
    44. Christophe C. Gouel & Sébastien Jean, 2023. "Love of variety and gains from trade [Goût pour la variété et gains à l'échange]," Post-Print hal-04179396, HAL.
    45. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2015. "The domestic and international effects of euro area market reforms," Research in Economics, Elsevier, vol. 69(4), pages 555-581.
    46. Etro, Federico, 2019. "The Romer model with monopolistic competition and general technologies," Economics Letters, Elsevier, vol. 181(C), pages 1-6.
    47. Pavlov, Oscar & Weder, Mark, 2022. "Endogenous product scope: Market interlacing and aggregate business cycle dynamics," European Economic Review, Elsevier, vol. 148(C).
    48. Uluc Aysun & Zeynep Yom, 2021. "R&D Characteristics, Innovation Spillover, and Technology-Driven Business Cycles," Journal of Industry, Competition and Trade, Springer, vol. 21(3), pages 339-365, September.
    49. Hassan Molana & Catia Montagna, 2018. "Competitive selection, trade, and employment: The strategic use of subsidies," Review of International Economics, Wiley Blackwell, vol. 26(5), pages 1154-1177, November.
    50. Chen, Yu & Gu, Xin & Gao, Yongqiang & Lan, Tian, 2021. "Sustainability with high-speed rails: The effects of transportation infrastructure development on firms’ CSR performance," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(2).
    51. Maria José Gil-Moltó & Dimitrios Varvarigos, 2012. "Industry Dynamics and Indeterminacy in an OLG Economy with Endogenous Occupational Choice," Discussion Papers in Economics 12/09, Division of Economics, School of Business, University of Leicester, revised Sep 2012.
    52. Jung, Benjamin, 2015. "Allocational efficiency with heterogeneous firms: Disentangling love of variety and market power," Economics Letters, Elsevier, vol. 134(C), pages 141-143.
    53. Lilia Cavallari & Federico Etro, 2018. "Demand, Markups and the Business Cycle," Working Papers - Economics wp2018_30.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    54. Federico Etro, 2016. "Macroeconomics with endogenous markups and optimal taxation," Working Papers 2016:32, Department of Economics, University of Venice "Ca' Foscari".
    55. Alexander Tarasov & Robertas Zubrickas, 2021. "Optimal Income Taxation under Monopolistic Competition," CESifo Working Paper Series 9309, CESifo.
    56. Bilbiie, Florin, 2017. "Monetary Neutrality with Sticky Prices and Free Entry," CEPR Discussion Papers 12068, C.E.P.R. Discussion Papers.
    57. Dudley Cooke & Tatiana Damjanovic, 2020. "Optimal Fiscal Policy in a Model of Firm Entry with Financial Frictions," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 35, pages 74-96, January.
    58. Tao, Zhang & Huang, Xiao Yue & Dang, Yi Jing & Qiao, Sen, 2022. "The impact of factor market distortions on profit sustainable growth of Chinese renewable energy enterprises: The moderating effect of environmental regulation," Renewable Energy, Elsevier, vol. 200(C), pages 1068-1080.
    59. Röhe, Oke & Stähler, Nikolai, 2020. "Demographics and the Decline in Firm Entry: Lessons from a Life-Cycle Model," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224603, Verein für Socialpolitik / German Economic Association.
    60. Opp, Marcus M. & Parlour, Christine A. & Walden, Johan, 2014. "Markup cycles, dynamic misallocation, and amplification," Journal of Economic Theory, Elsevier, vol. 154(C), pages 126-161.
    61. Louis Kaplow, 2024. "Optimal Income Taxation," Journal of Economic Literature, American Economic Association, vol. 62(2), pages 637-738, June.
    62. Albrecht, Brian C. & Phelan, Thomas & Pretnar, Nick, 2023. "Time Use and the Efficiency of Heterogeneous Markups," MPRA Paper 118172, University Library of Munich, Germany.
    63. Hassan Molana & Catia Montagna, 2016. "Selection, Trade, and Employment: The Strategic Use of Subsidies," Dundee Discussion Papers in Economics 296, Economic Studies, University of Dundee.
    64. Kaplow, Louis, 2021. "Horizontal merger analysis," International Journal of Industrial Organization, Elsevier, vol. 79(C).
    65. Venky Venkateswaran & Luis Llosa, 2012. "Efficiency With Endogenous Information Choice," 2012 Meeting Papers 660, Society for Economic Dynamics.
    66. Louis Kaplow, 2022. "Optimal Income Taxation," NBER Working Papers 30199, National Bureau of Economic Research, Inc.
    67. Jing Wan & Jie Zhang, 2023. "R&D subsidies, income taxes, and growth through cycles," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(3), pages 827-866, October.
    68. Ghironi, Fabio, 2017. "Macro Needs Micro," CEPR Discussion Papers 12299, C.E.P.R. Discussion Papers.
    69. Etro, Federico, 2016. "The Ramsey model with monopolistic competition and general preferences," Economics Letters, Elsevier, vol. 145(C), pages 141-144.
    70. Uluc Aysun & Sami Alpanda, 2023. "The cyclicality of income distribution and innovation induced growth," Working Papers 2023-01, University of Central Florida, Department of Economics.
    71. Hassan Molana, 2015. "Selection, Trade, and Employment: the Strategic Use of Subsidies. WWWforEurope Policy Paper No. 21," WIFO Studies, WIFO, number 57894.
    72. Tian, Can, 2022. "Learning and firm dynamics in a stochastic equilibrium," Journal of Economic Theory, Elsevier, vol. 203(C).
    73. Roberto Cazzolla Gatti & Roger Koppl & Brian D. Fath & Stuart Kauffman & Wim Hordijk & Robert E. Ulanowicz, 2020. "On the emergence of ecological and economic niches," Journal of Bioeconomics, Springer, vol. 22(2), pages 99-127, July.
    74. Grafeneder-Weissteiner, Theresa & Kubin, Ingrid & Prettner, Klaus & Prskawetz, Alexia & Wrzaczek, Stefan, 2015. "Coping with inefficiencies in a New Economic Geography model: The unintended consequences of policy interventions," Mathematical Social Sciences, Elsevier, vol. 76(C), pages 146-157.
    75. Finkelstein Shapiro, Alan & Metcalf, Gilbert E., 2023. "The macroeconomic effects of a carbon tax to meet the U.S. Paris agreement target: The role of firm creation and technology adoption," Journal of Public Economics, Elsevier, vol. 218(C).
    76. Wan, Jing & Zhang, Jie, 2021. "Optimal growth through innovation, investment, and labor," European Economic Review, Elsevier, vol. 132(C).
    77. Klein, Mathias & Linnemann, Ludger, 2024. "Tax shocks, firm entry, and productivity in the open economy," Journal of International Money and Finance, Elsevier, vol. 149(C).

  15. Perotti, Roberto & Monacelli, Tommas & Bilbiie, Florin, 2014. "Is Government Spending at the Zero Lower Bound Desirable?," CEPR Discussion Papers 10210, C.E.P.R. Discussion Papers.

    Cited by:

    1. Michal Bencik, 2017. "Do Fiscal Multipliers Vary with Different Character of Monetary-Fiscal Interactions?," Working and Discussion Papers WP 11/2017, Research Department, National Bank of Slovakia.
    2. Hory, Marie-Pierre & Levieuge, Grégory & Onori, Daria, 2023. "The fiscal multiplier when debt is denominated in foreign currency," International Economics, Elsevier, vol. 176(C).
    3. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    4. Marius Brulhart & Didier Dupertuis & Elodie Moreau, 2016. "Inheritance Flows in Switzerland, 1911-2011," Cahiers de Recherches Economiques du Département d'économie 16.05, Université de Lausanne, Faculté des HEC, Département d’économie.
    5. Chiara Punzo & Lorenza Rossi, 2019. "The Redistributive Effects of a Money-Financed Fiscal Stimulus," DEM Working Papers Series 168, University of Pavia, Department of Economics and Management.
    6. Jordan Roulleau-Pasdeloup, 2017. "The Government Spending Multiplier in a (Mis-)Managed Liquidity Trap," Cahiers de Recherches Economiques du Département d'économie 17.04, Université de Lausanne, Faculté des HEC, Département d’économie.
    7. Aurélien Eyquem, 2020. "The Macroeconomic Effects of Lockdown policies," Post-Print halshs-02910895, HAL.
    8. Philipp Engler & Juha Tervala, 2016. "Hysteresis and Fiscal Policy," Discussion Papers of DIW Berlin 1631, DIW Berlin, German Institute for Economic Research.
    9. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Liquidity Traps and Jobless Recoveries," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(1), pages 165-204, January.
    10. Matthieu Darracq Paries & Georg Muller & Niki Papadopoulou, 2022. "Fiscal Multipliers with Sovereign Risk and Fragile Banks," Working Papers 2022-5, Central Bank of Cyprus.
    11. Max Ole Liemen & Olaf Posch, 2022. "FTPL and the Maturity Structure of Government Debt in the New Keynesian Model," CESifo Working Paper Series 9840, CESifo.
    12. Florin Bilbiie & Tommaso Monacelli & Roberto Perotti, 2015. "Is Government Spending at the Zero Lower Bound Desirable?," Working Papers 555, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    13. Blanchard, Olivier & Erceg, Christopher J. & Lindé, Jesper, 2015. "Jump-Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?," Working Paper Series 304, Sveriges Riksbank (Central Bank of Sweden).
    14. Schmidt, Sebastian & Nakata, Taisuke, 2020. "Expectations-driven liquidity traps: Implications for monetary and fiscal policy," CEPR Discussion Papers 15422, C.E.P.R. Discussion Papers.
    15. Miyazaki, Tomomi & Hiraga, Kazuki & Kozuka, Masafumi, 2024. "Stock market response to public investment under the zero lower bound: Cross-industry evidence from Japan," Journal of the Japanese and International Economies, Elsevier, vol. 71(C).
    16. Engin Kara & Jasmin Sin, 2018. "The Fiscal Multiplier in a Liquidity‐Constrained New Keynesian Economy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 120(1), pages 93-123, January.
    17. Bouakez, Hafedh & Guillard, Michel & Roulleau-Pasdeloup, Jordan, 2020. "The optimal composition of public spending in a deep recession," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 334-349.
    18. Masashige Hamano & Yuki Murakami, 2024. "Optimal Government Spending in a Collateral-Constrained Small Open Economy," Working Papers 2401, Waseda University, Faculty of Political Science and Economics.
    19. Antonio Antunes & Valerio Ercolani, 2020. "Public debt expansions and the dynamics of the household borrowing constraint," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 1-32, July.
    20. Gilles Dufrénot & Aurélia Jambois & Laurine Jambois & Guillaume Khayat, 2016. "Regime-Dependent Fiscal Multipliers in the United States," Post-Print hal-01447865, HAL.
    21. Pablo Ottonello & Ignacio Presno & Javier Bianchi, 2016. "Unemployment, Sovereign Debt, and Fiscal Policy in a Currency Union," 2016 Meeting Papers 459, Society for Economic Dynamics.
    22. Bredemeier, Christian & Juessen, Falko & Schabert, Andreas, 2015. "Fiscal Policy, Interest Rate Spreads, and the Zero Lower Bound," IZA Discussion Papers 8993, Institute of Labor Economics (IZA).
    23. Jonathan Swarbrick, 2021. "Occasionally Binding Constraints in Large Models: A Review of Solution Methods," Discussion Papers 2021-5, Bank of Canada.
    24. Darracq Pariès, Matthieu & Müller, Georg & Papadopoulou, Niki, 2023. "Fiscal multipliers within the euro area in the context of sovereign risk and bank fragility," Economic Modelling, Elsevier, vol. 126(C).
    25. Adiya Belgibayeva & Michal Horvath, 2015. "Optimal Conventional Stabilization Policy in a Liquidity Trap When Wages and Prices are Sticky," Discussion Papers 15/11, Department of Economics, University of York.
    26. Marie-Pierre HORY & Grégory LEVIEUGE & Daria ONORI, 2018. "The (low) fiscal multiplier when debt is denominated in foreign currency," LEO Working Papers / DR LEO 2583, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    27. Atanas Pekanov, 2018. "The New View on Fiscal Policy and its Implications for the European Monetary Union," WIFO Working Papers 562, WIFO.
    28. Juan Cristóbal Campoy & Juan Carlos Negrete, 2023. "Quantitative easing rules as a means to achieve optimal levels of structural reforms and government deficits in a monetary union," The World Economy, Wiley Blackwell, vol. 46(9), pages 2755-2779, September.
    29. Taisuke Nakata, 2016. "Online Appendix to "Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian Analysis"," Online Appendices 15-154, Review of Economic Dynamics.
    30. Taisuke Nakata, 2015. "Optimal Government Spending at the Zero Lower Bound: A Non-Ricardian Analysis," Finance and Economics Discussion Series 2015-38, Board of Governors of the Federal Reserve System (U.S.).
    31. Riyad Abubaker, 2016. "Consumption and Money Uncertainty at the Zero Lower Bound," Economics Bulletin, AccessEcon, vol. 36(1), pages 449-463.
    32. Juan Carlos Cuestas & Mercedes Monfort, 2022. "Fiscal consumption and private consumption in Europe: what have we learned?," Working Papers 2022/05, Economics Department, Universitat Jaume I, Castellón (Spain).

  16. Florin Bilbiie & Roland Straub, 2012. "Changes in the Output Euler Equation and Asset Markets Participation," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00680647, HAL.

    Cited by:

    1. Qazi Haque & Leandro M. Magnusson, 2020. "Identification robust empirical evidence on the Euler equation in open economies," CAMA Working Papers 2020-07, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    2. Florin Bilbiie & Roland Straub, 2013. "Asset Market Participation, Monetary Policy Rules, and the Great Inflation," Post-Print hal-00622873, HAL.
    3. Qazi Haque & Nicolas Groshenny & Mark Weder, 2021. "Do we really know that U.S. monetary policy was destabilizing in the 1970s?," Post-Print hal-04204647, HAL.
    4. Andreas Tryphonides, 2023. "Online Appendix to "Identifying Preferences when Households are Financially Constrained"," Online Appendices 21-242, Review of Economic Dynamics.
    5. Florin O Bilbiie & Xavier Ragot, 2020. "Optimal monetary policy and liquidity with heterogeneous households," Post-Print hal-03100875, HAL.
    6. Giorgio Motta & Patrizio Tirelli, 2013. "Money Targeting, Heterogeneous Agents and Dynamic Instability," Working Papers 257, University of Milano-Bicocca, Department of Economics, revised Oct 2013.
    7. Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," CEPR Discussion Papers 2139, C.E.P.R. Discussion Papers.
    8. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, C.E.P.R. Discussion Papers.
    9. Alice Albonico & Guido Ascari & Qazi Haque, 2024. "The (Ir)Relevance of Rule‐of‐Thumb Consumers for U.S. Business Cycle Fluctuations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(4), pages 769-804, June.
    10. Alice Albonico & Alessia Paccagnini & Patrizio Tirelli, 2018. "Limited Asset Market Participation and the Euro Area Crisis. An Empirical DSGE Model," Working Papers 391, University of Milano-Bicocca, Department of Economics, revised Nov 2018.
    11. Alice Albonico & Alessia Paccagnini & Patrizio Tirelli, 2014. "Estimating a DSGE model with Limited Asset Market Participation for the Euro Area," Working Papers 286, University of Milano-Bicocca, Department of Economics, revised Nov 2014.
    12. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    13. Pym Manopimoke, 2016. "The Output Euler Equation and Real Interest Rate Regimes," PIER Discussion Papers 33, Puey Ungphakorn Institute for Economic Research.
    14. Marwa Elsherif, 2019. "The Relationship between Financial Inclusion and Monetary Policy Transmission: The Case of Egypt," Proceedings of International Academic Conferences 9010737, International Institute of Social and Economic Sciences.
    15. Qazi Haque & Leandro M. Magnusson, 2023. "Identification Robust Empirical Evidence on the Open Economy IS‐Curve," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(2), pages 345-372, April.
    16. Malikane, Christopher, 2024. "Traditional output dynamics: A structural perspective," Journal of Macroeconomics, Elsevier, vol. 82(C).
    17. Joaquim Andrade & Pedro Cordeiro & Guilherme Lambais, 2019. "Estimating a Behavioral New Keynesian Model," Papers 1912.07601, arXiv.org.
    18. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    19. Andreas Tryphonides, 2020. "Identifying Preferences when Households are Financially Constrained," Papers 2005.02010, arXiv.org, revised Feb 2023.
    20. Ascari, Guido & Magnusson, Leandro M. & Mavroeidis, Sophocles, 2021. "Empirical evidence on the Euler equation for consumption in the US," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 129-152.
    21. Furlanetto, Francesco & Seneca, Martin, 2014. "Investment shocks and consumption," European Economic Review, Elsevier, vol. 66(C), pages 111-126.
    22. Shesadri Banerjee & Harendra Behera, 2023. "Financial frictions, bank intermediation and monetary policy transmission in India," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(3), pages 749-785, July.

  17. Perotti, Roberto & Monacelli, Tommas & Bilbiie, Florin, 2012. "Public Debt and Redistribution with Borrowing Constraints," CEPR Discussion Papers 9088, C.E.P.R. Discussion Papers.

    Cited by:

    1. Frédéric Dufourt & Lisa Kerdelhué & Océane Piétri, 2021. "Budget-neutral capital tax cuts," Working Papers halshs-03424147, HAL.
    2. Mihai Mutascu & Albert Lessoua & Nicolae Bogdan Ianc, 2024. "Public debt and inequality in Sub-Saharan Africa: the case of EMCCA and WAEMU countries," Economic Change and Restructuring, Springer, vol. 57(5), pages 1-44, October.
    3. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    4. Sushant Acharya & Keshav Dogra, 2020. "Understanding HANK: Insights From a PRANK," Econometrica, Econometric Society, vol. 88(3), pages 1113-1158, May.
    5. Chiara Punzo & Lorenza Rossi, 2019. "The Redistributive Effects of a Money-Financed Fiscal Stimulus," DEM Working Papers Series 168, University of Pavia, Department of Economics and Management.
    6. Julien Matheron & Juan Rubio-Ramirez & Edouard Challe & Xavier Ragot, 2014. "Precautionary Saving and Aggregate Demand," 2014 Meeting Papers 1021, Society for Economic Dynamics.
    7. Tsiaras, Stylianos, 2023. "Asset purchases, limited asset markets participation and inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 154(C).
    8. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
    9. Gervasio SEMEDO & Bertrand LAPORTE & Asbath ALASSANI, 2022. "How does tax structure affect income inequality? Empirical evidence from Sub-Saharan Africa," LEO Working Papers / DR LEO 2960, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    10. Hayo, Bernd & Neumeier, Florian, 2017. "The (In)validity of the Ricardian equivalence theorem-findings from a representative German population survey," Munich Reprints in Economics 55053, University of Munich, Department of Economics.
    11. Yunmin Chen & YiLi Chien & Yi Wen & C. C. Yang, 2021. "Are Unconditional Lump-sum Transfers a Good Idea?," Working Papers 2021-002, Federal Reserve Bank of St. Louis, revised 10 Sep 2021.
    12. Stelios Sakkas & Petros Varthalitis, 2021. "Public Debt Consolidation and its Distributional Effects," Manchester School, University of Manchester, vol. 89(S1), pages 131-174, September.
    13. Macaulay, Alistair, 2021. "The attention trap: Rational inattention, inequality, and fiscal policy," European Economic Review, Elsevier, vol. 135(C).
    14. Bahal, G., 2017. "Estimating Transfer Multiplier using Spending on Rural Development Programs in India," Cambridge Working Papers in Economics 1709, Faculty of Economics, University of Cambridge.
    15. Sushant Acharya & Keshav Dogra, 2018. "The side effects of safe asset creation," Staff Reports 842, Federal Reserve Bank of New York.
    16. Charalampidis, Nikolaos, 2022. "Top income shares, inequality, and business cycles: United States, 1957–2016," European Economic Review, Elsevier, vol. 150(C).
    17. Neil R. Mehrotra, 2018. "Fiscal Policy Stabilization: Purchases or Transfers?," International Journal of Central Banking, International Journal of Central Banking, vol. 14(2), pages 1-50, March.
    18. Engin Kara & Jasmin Sin, 2018. "The Fiscal Multiplier in a Liquidity‐Constrained New Keynesian Economy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 120(1), pages 93-123, January.
    19. Cantore, Cristiano & Freund, Lukas, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    20. Mihai MUTASCU & Nicolae-Bogdan IANC & ALBERT LESSOUA, 2021. "Public debt and inequality in Sub-Saharan Africa: the case of EMCCA and WAEMU countries," LEO Working Papers / DR LEO 2909, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    21. Cantore, Cristiano & Ferroni, Filippo & Mumtaz, Hroon & Theophilopoulou, Angeliki, 2022. "A tail of labour supply and a tale of monetary policy," Bank of England working papers 989, Bank of England.
    22. Antonio Antunes & Valerio Ercolani, 2020. "Public debt expansions and the dynamics of the household borrowing constraint," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 1-32, July.
    23. Kaszab, Lorant, 2012. "Rule-of-Thumb Consumers and Labor Tax Cut Policy in the Zero Lower Bound," Cardiff Economics Working Papers E2012/13, Cardiff University, Cardiff Business School, Economics Section, revised Apr 2013.
    24. Adrien Auclert & Ludwig Straub & Matthew Rognlie, 2018. "The Intertemporal Keynesian Cross," 2018 Meeting Papers 999, Society for Economic Dynamics.
    25. Andrea Boitani & Chiara Punzo, 2018. "Banks’ leverage behaviour in a two-agent New Keynesian model," DISCE - Working Papers del Dipartimento di Economia e Finanza def063, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    26. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
    27. Cristiano Cantore & Pascal Meichtry, 2024. "Unwinding Quantitative Easing: State Dependency and Household Heterogeneity," Working papers 955, Banque de France.
    28. Liu, Shih-fu & Huang, Wei-chi & Lai, Ching-chong, 2022. "The Paradox of Toil at the Zero Lower Bound in a TANK Model," European Economic Review, Elsevier, vol. 148(C).
    29. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    30. Girish Bahal, 2020. "Estimating the Impact of Welfare Programs on Agricultural Output: Evidence from India," American Journal of Agricultural Economics, John Wiley & Sons, vol. 102(3), pages 982-998, May.
    31. Lorenza Rossi & Chiara Punzo, 2016. "Money-Financed versus Debt-Financed Fiscal Stimulus with Borrowing Constraints," DEM Working Papers Series 131, University of Pavia, Department of Economics and Management.
    32. Chiara Punzo & Lorenza Rossi, 2023. "A Money‐Financed Fiscal Stimulus: Redistribution and Social Welfare," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(2-3), pages 595-617, March.
    33. Girish Bahal & Anand Shrivastava, 2020. "Fiscal transfers and inflation: Evidence from India," Economics Discussion / Working Papers 20-12, The University of Western Australia, Department of Economics.
    34. Giambattista, Eric & Pennings, Steven, 2017. "When is the government transfer multiplier large?," European Economic Review, Elsevier, vol. 100(C), pages 525-543.
    35. Jordan Roulleau-Pasdeloup, 2013. "The Productive Government Spending Multiplier, In and Out of The Zero Lower Bound," Working Papers 2013-02, Center for Research in Economics and Statistics.
    36. Zheng Gong, 2025. "When Does Household Heterogeneity Matter for Aggregate Fluctuations?," CRC TR 224 Discussion Paper Series crctr224_2025_624, University of Bonn and University of Mannheim, Germany.
    37. Spector, Mariano, 2024. "Redistributive fiscal policy and marginal propensities to consume," Journal of Economic Theory, Elsevier, vol. 218(C).
    38. Albonico, Alice & Ascari, Guido & Gobbi, Alessandro, 2021. "The public debt multiplier," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    39. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    40. Sakkas, Stelios & Varthalitis, Petros, 2018. "The (intertemporal) equity-efficiency trade-off of fiscal consolidation," MPRA Paper 90983, University Library of Munich, Germany.
    41. Punzo Chiara & Rossi Lorenza, 2021. "Is a Money-financed Fiscal Stimulus Desirable?," Working papers 818, Banque de France.
    42. Giambattista,Eric & Pennings,Steven Michael, 2017. "When is the government transfer multiplier large ?," Policy Research Working Paper Series 8184, The World Bank.

  18. Florin Bilbiie, 2011. "Non-Separable Preferences, Frisch Labor Supply and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622872, HAL.

    Cited by:

    1. Benjamin Bridgman, 2016. "Engines of Leisure," BEA Working Papers 0137, Bureau of Economic Analysis.
    2. Romanos Priftis & Srec̆ko Zimic, 2021. "Sources of Borrowing and Fiscal Multipliers [Emerging market business cycles: the cycle is the trend]," The Economic Journal, Royal Economic Society, vol. 131(633), pages 498-519.
    3. Patrick F?ve & Julien Matheron & Jean-Guillaume Sahuc, 2013. "A Pitfall with Estimated DSGE-Based Government Spending Multipliers," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 141-178, October.
    4. Cardi, Olivier & Restout, Romain, 2023. "Sectoral fiscal multipliers and technology in open economy," Journal of International Economics, Elsevier, vol. 144(C).
    5. Mankart, Jochen & Priftis, Romanos & Oikonomou, Rigas, 2024. "The long and short of financing government spending," VfS Annual Conference 2024 (Berlin): Upcoming Labor Market Challenges 302414, Verein für Socialpolitik / German Economic Association.
    6. Marius Brulhart & Didier Dupertuis & Elodie Moreau, 2016. "Inheritance Flows in Switzerland, 1911-2011," Cahiers de Recherches Economiques du Département d'économie 16.05, Université de Lausanne, Faculté des HEC, Département d’économie.
    7. Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021. "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1275-1313, November.
    8. Quaghebeur, Ewoud, 2019. "Learning And The Size Of The Government Spending Multiplier," Macroeconomic Dynamics, Cambridge University Press, vol. 23(8), pages 3189-3224, December.
    9. Jin, Hao & Wang, Junfeng, 2024. "The effects of a money-financed fiscal stimulus under fiscal stress," Journal of Macroeconomics, Elsevier, vol. 81(C).
    10. Rüth, Sebastian K. & Simon, Camilla, 2022. "How do income and the debt position of households propagate fiscal stimulus into consumption?," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    11. Hafedh Bouakez & Michel Guillard & Jordan Roulleau-Pasdeloup, 2014. "Public Investment, Time to Buid, and the Zero Lower Bound," Working Papers 2014-03, Center for Research in Economics and Statistics.
    12. Marco Airaudo & Ina Hajdini, 2021. "Wealth Effects, Price Markups, and the Neo-Fisherian Hypothesis," Working Papers 21-27, Federal Reserve Bank of Cleveland.
    13. Kilponen, Juha & Vilmunen, Jouko & Vähämaa, Oskari, 2022. "Revisiting intertemporal elasticity of substitution in a sticky price model," Journal of Economic Dynamics and Control, Elsevier, vol. 144(C).
    14. Jordan Roulleau-Pasdeloup, 2017. "The Government Spending Multiplier in a (Mis-)Managed Liquidity Trap," Cahiers de Recherches Economiques du Département d'économie 17.04, Université de Lausanne, Faculté des HEC, Département d’économie.
    15. Galí, Jordi, 2014. "The Effects of a Money-Financed Fiscal Stimulus," CEPR Discussion Papers 10165, C.E.P.R. Discussion Papers.
    16. Bredemeier, Christian & Juessen, Falko & Schabert, Andreas, 2022. "Why are fiscal multipliers moderate even under monetary accommodation?," European Economic Review, Elsevier, vol. 141(C).
    17. Huang, Kevin X.D. & Liu, Fengqi & Meng, Qinglai & Xue, Jianpo, 2022. "Keeping up with the Joneses and the consumption response to government spending," Economics Letters, Elsevier, vol. 220(C).
    18. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    19. Roberto Perotti, 2014. "Defense Government Spending Is Contractionary, Civilian Government Spending Is Expansionary," NBER Working Papers 20179, National Bureau of Economic Research, Inc.
    20. Florin Bilbiie & Tommaso Monacelli & Roberto Perotti, 2015. "Is Government Spending at the Zero Lower Bound Desirable?," Working Papers 555, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    21. Miyamoto, Wataru & Nguyen, Thuy Lan & Sheremirov, Viacheslav, 2019. "The effects of government spending on real exchange rates: Evidence from military spending panel data," Journal of International Economics, Elsevier, vol. 116(C), pages 144-157.
    22. Tom Holden & Paul Levine & Jonathan Swarbrick, 2017. "Reconciling Jaimovich-Rebello Preferences, Habit in Consumption and Labor Supply," School of Economics Discussion Papers 1017, School of Economics, University of Surrey.
    23. Kopiec, Paweł, 2022. "The government spending multiplier in the Heterogeneous Agent New Keynesian model," European Economic Review, Elsevier, vol. 145(C).
    24. Moro, Alessio & Rachedi, Omar, 2018. "The Changing Structure of Government Spending," MPRA Paper 86577, University Library of Munich, Germany.
    25. Jørgensen, Peter L. & Ravn, Søren H., 2022. "The inflation response to government spending shocks: A fiscal price puzzle?," European Economic Review, Elsevier, vol. 141(C).
    26. Eric M. Leeper & Nora Traum & Todd B. Walker, 2017. "Clearing Up the Fiscal Multiplier Morass," American Economic Review, American Economic Association, vol. 107(8), pages 2409-2454, August.
    27. Markus Brueckner & Evi Pappa & Ákos Valentinyi, 2023. "Geographic Cross‐Sectional Fiscal Spending Multipliers and the Role of Local Autonomy: Evidence from European Regions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(6), pages 1357-1396, September.
    28. Rahul Nath, 2018. "Flexible Labour, Income Effects, and Asset Prices," Economics Series Working Papers 851, University of Oxford, Department of Economics.
    29. Roberto perotti, 2011. "Expectations and Fiscal Policy: An Empirical Investigation," Working Papers 429, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    30. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, C.E.P.R. Discussion Papers.
    31. İrem Zeyneloğlu & Gilbert Koenig, 2016. "Recent Economic Developments and the Implications for Fiscal Policy in Open Economy Macroeconomics," Revue d'économie politique, Dalloz, vol. 126(6), pages 1023-1056.
    32. Hristov, Atanas, 2022. "Credit spread and the transmission of government purchases shocks," Economic Modelling, Elsevier, vol. 107(C).
    33. Proebsting, Christian, 2022. "Market segmentation and spending multipliers," Journal of Monetary Economics, Elsevier, vol. 128(C), pages 1-19.
    34. Beaudry, Paul & Portier, Franck, 2012. "A gains from trade perspective on macroeconomic fluctuations," ZEW Discussion Papers 12-002, ZEW - Leibniz Centre for European Economic Research.
    35. Mikhail Yu. Andreyev & Andrey V. Polbin, 2018. "The Impact of Fiscal Policy on Macroeconomic Indicators in DSGE-models," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 3, pages 21-33, June.
    36. Airaudo, Marco & Hajdini, Ina, 2023. "Wealth effects, price markups, and the neo-Fisherian hypothesis," European Economic Review, Elsevier, vol. 157(C).
    37. Punnoose Jacob, 2015. "Deep Habits, Price Rigidities, and the Consumption Response to Government Spending," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(2-3), pages 481-510, March.
    38. Adrien Auclert & Ludwig Straub & Matthew Rognlie, 2018. "The Intertemporal Keynesian Cross," 2018 Meeting Papers 999, Society for Economic Dynamics.
    39. Huixin Bi & Ms. Wenyi Shen & Ms. Susan S. Yang, 2014. "Fiscal Limits, External Debt, and Fiscal Policy in Developing Countries," IMF Working Papers 2014/049, International Monetary Fund.
    40. Stefano Gnocchi & Daniela Hauser & Evi Pappa, 2014. "Housework and Fiscal Expansions," Staff Working Papers 14-34, Bank of Canada.
    41. Christiaan van der Kwaak, 2024. "Monetary financing does not produce miraculous fiscal multipliers," Discussion Papers 2417, Centre for Macroeconomics (CFM).
    42. Riccardo Bianchi Vimercati & Martin S. Eichenbaum & Joao Guerreiro, 2021. "Fiscal Stimulus with Imperfect Expectations: Spending vs. Tax Policy," NBER Working Papers 29134, National Bureau of Economic Research, Inc.
    43. Matteo Cacciatore & Daniela Hauser & Stefano Gnocchi, 2023. "Time Use and Macroeconomic Uncertainty," NBER Working Papers 31954, National Bureau of Economic Research, Inc.
    44. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    45. Hao Jin & Junfeng Wang, 2023. "The Effects of a Money-Financed Fiscal Stimulus Under Fiscal Stress," CAEPR Working Papers 2023-006 Classification-E, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    46. Holden, Tom D., 2024. "Robust Real Rate Rules," EconStor Preprints 279481, ZBW - Leibniz Information Centre for Economics, revised 2024.
    47. Pappa, Evi & Valentinyi, Akos & Brueckner, Markus, 2019. "Local Autonomy and Government Spending Multipliers: Evidence from European Regions," CEPR Discussion Papers 14106, C.E.P.R. Discussion Papers.
    48. Fève, Patrick & Matheron, Julien & Sahuc, Jean-Guillaume, 2012. "A Pitfall with DSGE-Based, Estimated, Government Spending Multipliers," IDEI Working Papers 708, Institut d'Économie Industrielle (IDEI), Toulouse.
    49. Takao Fujii & Kazuki Hiraga & Masafumi Kozuka, 2012. "Analyses of Public Investment Shock in Japan: Factor Augmented Vector Autoregressive Approach," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-006, Keio/Kyoto Joint Global COE Program.
    50. Givens, Gregory, 2019. "Unemployment, Partial Insurance, and the Multiplier Effects of Government Spending," MPRA Paper 96811, University Library of Munich, Germany.
    51. Alessio Moro & Omar Rachedi, 2022. "The Changing Structure Of Government Consumption Spending," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1293-1323, August.
    52. Stefano Eusepi & Bruce Preston, 2009. "Consumption heterogeneity, employment dynamics, and macroeconomic co-movement," Staff Reports 399, Federal Reserve Bank of New York.
    53. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2021. "Adaptive Importance Sampling for DSGE Models," BEMPS - Bozen Economics & Management Paper Series BEMPS84, Faculty of Economics and Management at the Free University of Bozen.
    54. Zheng Liu & Jianjun Miao & Dongling Su, 2022. "Fiscal Stimulus Under Average Inflation Targeting," Working Paper Series 2022-22, Federal Reserve Bank of San Francisco.
    55. Tesfaselassie, Mewael F., 2013. "Trend productivity growth and the government spending multiplier," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 197-207.
    56. Iwata, Yasuharu, 2013. "Two fiscal policy puzzles revisited: New evidence and an explanation," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 188-207.
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    58. Giorgio Massari & Luca Portoghese & Patrizio Tirelli, 2024. "Whither Liquidity Shocks? Implications for R∗ and Monetary Policy," DEM Working Papers Series 217, University of Pavia, Department of Economics and Management.
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    69. Florin O. Bilbiie, 2022. "Neo-Fisherian Policies and Liquidity Traps," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 378-403, October.
    70. Vivien Lewis & Roland Winkler, 2017. "Government Spending, Entry, And The Consumption Crowding‐In Puzzle," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58(3), pages 943-972, August.
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    76. Christoffel, Kai & Jaccard, Ivan & Kilponen, Juha, 2013. "Welfare and bond pricing implications of fiscal stabilization policies," Bank of Finland Research Discussion Papers 32/2013, Bank of Finland.
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  19. Bilbiie, Florin & Straub, Roland, 2011. "Asset Market Participation, Monetary Policy Rules and the Great Inflation," CEPR Discussion Papers 8555, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
    2. Emanuele Franceschi, 2020. "Taylor Rules and liquidity in financial markets," PSE Working Papers halshs-02978550, HAL.
    3. Qazi Haque, 2022. "Monetary Policy, Inflation Target, and the Great Moderation: An Empirical Investigation," International Journal of Central Banking, International Journal of Central Banking, vol. 18(4), pages 1-52, October.
    4. Florin Bilbiie, 2008. "Limited Asset Market Participation, Monetary Policy and (Inverted) Aggregate Demand Logic," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622865, HAL.
    5. Lorenzo Menna & Patrizio Tirelli, 2017. "Online Appendix to "Optimal inflation to reduce inequality"," Online Appendices 15-127, Review of Economic Dynamics.
    6. Qazi Haque & Nicolas Groshenny & Mark Weder, 2021. "Do we really know that U.S. monetary policy was destabilizing in the 1970s?," Post-Print hal-04204647, HAL.
    7. Bonchi, Jacopo & Nisticò, Salvatore, 2024. "Optimal monetary policy and rational asset bubbles," European Economic Review, Elsevier, vol. 170(C).
    8. B. Hofmann & G. Peersman & R. Straub, 2010. "Time Variation in U.S. Wage Dynamics," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 10/691, Ghent University, Faculty of Economics and Business Administration.
    9. Florin O. Bilbiie & Tommaso Monacelli & Roberto Perotti, 2013. "Public Debt and Redistribution with Borrowing Constraints," Economic Journal, Royal Economic Society, vol. 0, pages 64-98, February.
    10. Gerke, Rafael & Kienzler, Daniel & Scheer, Alexander, 2021. "Unconventional monetary policies at the effective lower bound," Technical Papers 03/2021, Deutsche Bundesbank.
    11. Florin Bilbiie & Roland Straub, 2012. "Changes in the Output Euler Equation and Asset Markets Participation," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00680647, HAL.
    12. Niels-Jakob H. Hansen & Alessandro Lin & Rui C. Mano, 2023. "Should inequality factor into central banks’ decisions?," Temi di discussione (Economic working papers) 1410, Bank of Italy, Economic Research and International Relations Area.
    13. Florin O Bilbiie & Xavier Ragot, 2020. "Optimal monetary policy and liquidity with heterogeneous households," Post-Print hal-03100875, HAL.
    14. Giovanni Di Bartolomeo & Lorenza Rossi & Massimiliano Tancioni, 2007. "Monetary Policy, Rule-of-Thumb Consumers and External Habits: An International Comparison," Working Papers 0727, University of Crete, Department of Economics.
    15. Giovanni Di Bartolomeo & Lorenza Rossi & Massimiliano Tancioni, 2009. "Monetary Policy, Rule-of-Thumb Consumers and External Habits: A G7 Comparison," Quaderni di Dipartimento 101, University of Pavia, Department of Economics and Quantitative Methods.
    16. Giorgio Motta & Patrizio Tirelli, 2013. "Money Targeting, Heterogeneous Agents and Dynamic Instability," Working Papers 257, University of Milano-Bicocca, Department of Economics, revised Oct 2013.
    17. Jean-Bernard, Chatelain & Kirsten, Ralf, 2017. "Hopf Bifurcation from new-Keynesian Taylor rule to Ramsey Optimal Policy," MPRA Paper 79244, University Library of Munich, Germany.
    18. Gerke, Rafael & Giesen, Sebastian & Scheer, Alexander, 2020. "The power of forward guidance in a quantitative TANK model," Economics Letters, Elsevier, vol. 186(C).
    19. Alexander Kriwoluzky & Christian A. Stoltenberg, 2015. "Monetary Policy and the Transaction Role of Money in the US," Economic Journal, Royal Economic Society, vol. 125(587), pages 1452-1473, September.
    20. Roger E.A. Farmer & Vadim Khramov & Giovanni Nicolò, 2013. "Solving and Estimating Indeterminate DSGE Models," NBER Working Papers 19457, National Bureau of Economic Research, Inc.
    21. Jordi Gali & J. David López-Salido & Javier Vallés, 2003. "Understanding the effects of government spending on consumption," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    22. Charalampidis, Nikolaos, 2022. "Top income shares, inequality, and business cycles: United States, 1957–2016," European Economic Review, Elsevier, vol. 150(C).
    23. Mr. Niels-Jakob H Hansen & Alessandro Lin & Rui Mano, 2020. "Should Inequality Factor into Central Banks' Decisions?," IMF Working Papers 2020/196, International Monetary Fund.
    24. Dave, Chetan & Sorge, Marco M., 2021. "Equilibrium indeterminacy and sunspot tales," European Economic Review, Elsevier, vol. 140(C).
    25. Ettmeier, Stephanie & Kriwoluzky, Alexander, 2024. "Active or passive? Revisiting the role of fiscal policy during high inflation," European Economic Review, Elsevier, vol. 170(C).
    26. Alice Albonico & Guido Ascari & Qazi Haque, 2024. "The (Ir)Relevance of Rule‐of‐Thumb Consumers for U.S. Business Cycle Fluctuations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(4), pages 769-804, June.
    27. Zervou, Anastasia S., 2013. "Financial market segmentation, stock market volatility and the role of monetary policy," European Economic Review, Elsevier, vol. 63(C), pages 256-272.
    28. Straub, Roland & Barnett, Alina, 2008. "What drives U.S. current account fluctuations?," Working Paper Series 959, European Central Bank.
    29. Alice Albonico & Alessia Paccagnini & Patrizio Tirelli, 2018. "Limited Asset Market Participation and the Euro Area Crisis. An Empirical DSGE Model," Working Papers 391, University of Milano-Bicocca, Department of Economics, revised Nov 2018.
    30. Alice Albonico & Alessia Paccagnini & Patrizio Tirelli, 2014. "Estimating a DSGE model with Limited Asset Market Participation for the Euro Area," Working Papers 286, University of Milano-Bicocca, Department of Economics, revised Nov 2014.
    31. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    32. Joshua Brault & Hashmat Khan & Louis Phaneuf & Jean Gardy Victor, 2021. "US Postwar Macroeconomic Fluctuations Without Indeterminacy," Carleton Economic Papers 21-01, Carleton University, Department of Economics, revised 25 May 2021.
    33. Huu Tuyen Tran, 2024. "Heterogeneous consumption behaviors and monetary policy in three ASEAN economies," International Economics and Economic Policy, Springer, vol. 21(4), pages 817-844, October.
    34. Marwa Elsherif, 2019. "The Relationship between Financial Inclusion and Monetary Policy Transmission: The Case of Egypt," Proceedings of International Academic Conferences 9010737, International Institute of Social and Economic Sciences.
    35. Ida, Daisuke, 2024. "Household heterogeneity and the price puzzle in a new Keynesian model," Journal of Macroeconomics, Elsevier, vol. 79(C).
    36. Barrail, Zulma, 2020. "Business cycle implications of rising household credit market participation in emerging countries," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    37. Joshua Brault & Louis Phaneuf, 2021. "Higher Order Interest-Smoothing, Time-Varying Inflation Target and the Prospect of Indeterminacy," Working Papers 21-10, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management.
    38. Gerke, Rafael & Kienzler, Daniel & Scheer, Alexander, 2022. "On the macroeconomic effects of reinvestments in asset purchase programmes," Discussion Papers 47/2022, Deutsche Bundesbank.
    39. Fabian Eser, 2009. "Monetary Policy in a Currency Union with Heterogeneous Limited Asset Markets Participation," Economics Series Working Papers 2009-W16, University of Oxford, Department of Economics.
    40. Hernán Rincón-Castro & Juan Pablo Ángel-Mojica, 2023. "¿Sobre quién recaería la carga de reducir el impuesto sobre la renta de las empresas?," Borradores de Economia 1260, Banco de la Republica de Colombia.
    41. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    42. Lorenzo, Menna & Patrizio, Tirelli, 2016. "Optimal Inflation to Reduce Inequality," Working Papers 353, University of Milano-Bicocca, Department of Economics, revised 01 Nov 2016.
    43. Raffaele Rossi, 2007. "Rule of Thumb Consumers, Public Debt and Income Tax," Working Papers 2007_44, Business School - Economics, University of Glasgow, revised Dec 2007.
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    45. Lorenzo Menna & Patrizio Tirelli, 2014. "Limited Asset Market Participation and the Optimal Fiscal and Monetary Policies," Working Papers 284, University of Milano-Bicocca, Department of Economics, revised Oct 2014.
    46. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad & López-Salido, David, 2011. "The role of liquid government bonds in the great transformation of American monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 35(3), pages 282-294, March.

  20. Ghironi, Fabio & Melitz, Marc J & Bilbiie, Florin, 2011. "Endogenous Entry, Product Variety, and Business Cycles," CEPR Discussion Papers 8564, C.E.P.R. Discussion Papers.

    Cited by:

    1. Totzek, Alexander, 2009. "Firms' heterogeneity, endogenous entry, and exit decisions," Economics Working Papers 2009-11, Christian-Albrechts-University of Kiel, Department of Economics.
    2. Masashige Hamano & Francesco Zanetti, 2020. "Monetary Policy, Firm Heterogeneity, and Product Variety," Working Papers 2005, Waseda University, Faculty of Political Science and Economics.
    3. Andrei Zlate, 2016. "Offshore Production and Business Cycle Dynamics with Heterogeneous Firms," Supervisory Research and Analysis Working Papers RPA 16-1, Federal Reserve Bank of Boston.
    4. Aysun, Uluc, 2024. "Technology diffusion and international business cycles," Journal of International Money and Finance, Elsevier, vol. 140(C).
    5. Tom Holden, 2010. "Products, patents and productivity persistence: A DSGE model of endogenous growth," Economics Series Working Papers 512, University of Oxford, Department of Economics.
    6. Patrick Macnamara, 2014. "Limited Re-Entry and Business Cycles," Centre for Growth and Business Cycle Research Discussion Paper Series 194, Economics, The University of Manchester.
    7. Vera Ivanova & Philip Ushchev, 2019. "Product Differentiation, Competitive Toughness, and Intertemporal Substitution," Scandinavian Journal of Economics, Wiley Blackwell, vol. 121(3), pages 1244-1269, July.
    8. Kaszab, Lorant & Marsal, Ales & Rabitsch, Katrin, 2022. "Asset pricing with free entry and exit of firms," Economics Letters, Elsevier, vol. 217(C).
    9. Anton A. Cheremukhin & Antonella Tutino, 2014. "Asymmetric firm dynamics under rational inattention," Working Papers 1411, Federal Reserve Bank of Dallas.
    10. Olkhov, Victor, 2018. "Economic Transactions Govern Business Cycles," MPRA Paper 87207, University Library of Munich, Germany.
    11. Weber, Henning, 2013. "Learning By Doing in New Firms and the Optimal Rate of Inflation," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79761, Verein für Socialpolitik / German Economic Association.
    12. Pierpaolo Benigno & Ester Faia, 2010. "Globalization, Pass-Through and Inflation Dynamic," IMES Discussion Paper Series 10-E-17, Institute for Monetary and Economic Studies, Bank of Japan.
    13. Vera Ivanova & Philip Ushchev, 2015. "When Ricardo Meets Chamberlin: A Simple Dynamic Model Of Monopolistic Competition," HSE Working papers WP BRP 99/EC/2015, National Research University Higher School of Economics.
    14. Vasco M. Carvalho & Basile Grassi, 2019. "Large Firm Dynamics and the Business Cycle," American Economic Review, American Economic Association, vol. 109(4), pages 1375-1425, April.
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    16. Patureau, Lise & Poilly, Céline, 2019. "Reforms and the real exchange rate: The role of pricing-to-market," Journal of International Economics, Elsevier, vol. 119(C), pages 150-168.
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    36. Ghironi, Fabio & Melitz, Marc J & Bilbiie, Florin, 2011. "Endogenous Entry, Product Variety, and Business Cycles," CEPR Discussion Papers 8564, C.E.P.R. Discussion Papers.
    37. Saroj Bhattarai & Konstantin Kucheryavyy, 2024. "Aggregate Properties of Open Economy Models with Expanding Varieties," Journal of the European Economic Association, European Economic Association, vol. 22(1), pages 263-309.
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    42. Ryo Jinnai, 2014. "R&D Shocks and News Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(7), pages 1457-1478, October.
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    44. Eijffinger, Sylvester & Blommestein, Hans J. & Qian, Zongxin, 2011. "A Dynamic General Equilibrium Analysis of Monetary Policy Rules, Adverse Selection and Long-Run Financial Risk," CEPR Discussion Papers 8652, C.E.P.R. Discussion Papers.
    45. Isabelle Mejean & Andrei Levchenko & Julian di Giovanni, 2013. "Firms, Destinations, and Aggregate Fluctuations," 2013 Meeting Papers 352, Society for Economic Dynamics.
    46. Anthony Savagar, 2017. "Firm Dynamics, Dynamic Reallocation, Variable Markups, and Productivity Behaviour," Studies in Economics 1713, School of Economics, University of Kent.
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    48. Daisoon Kim & Yoonsoo Lee, 2019. "Entry, Exit, and Productivity Dispersion," 2019 Meeting Papers 927, Society for Economic Dynamics.
    49. Matteo Cacciatore & Mr. Romain A Duval & Giuseppe Fiori & Mr. Fabio Ghironi, 2017. "Market Reforms at the Zero Lower Bound," IMF Working Papers 2017/215, International Monetary Fund.
    50. Jean-Guillaume Sahuc & Frank Smets & Gauthier Vermandel, 2025. "The New Keynesian Climate Model," EconomiX Working Papers 2025-1, University of Paris Nanterre, EconomiX.
    51. Masashige Hamano & Pierre M. Picard, 2017. "Extensive and intensive margins and exchange rate regimes," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(3), pages 804-837, August.
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    55. Mariano Croce & Anastasios G. Karantounias & Stephen Raymond & Lukas Schmid, 2017. "A Tax Plan for Endogenous Innovation," FRB Atlanta Working Paper 2017-13, Federal Reserve Bank of Atlanta.
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    385. Cooke, Dudley, 2014. "Monetary shocks, exchange rates, and the extensive margin of exports," Journal of International Money and Finance, Elsevier, vol. 41(C), pages 128-145.
    386. Ferraro, Domenico & Ghazi, Soroush & Peretto, Pietro F., 2020. "Implications of tax policy for innovation and aggregate productivity growth," European Economic Review, Elsevier, vol. 130(C).

  21. Florin Bilbiie, 2011. "The Time Inconsistency of Delegation-Based Time Inconsistency Solutions in Monetary Policy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622870, HAL.

    Cited by:

    1. Florin Bilbiie, 2014. "Delegating optimal monetary policy inertia," Post-Print hal-01162224, HAL.

  22. Florin Bilbiie, 2011. "Designing Domestic Institutions for International Monetary Policy Cooperation: a Utopia?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622871, HAL.

    Cited by:

    1. Ippei Fujiwara & Timothy Kam & Takeki Sunakawa, 2016. "Sustainable International Monetary Policy Cooperation," IMES Discussion Paper Series 16-E-10, Institute for Monetary and Economic Studies, Bank of Japan.

  23. Ghironi, Fabio & Bilbiie, Florin & Fujiwara, Ippei, 2011. "Optimal Monetary Policy with Endogenous Entry and Product Variety," CEPR Discussion Papers 8565, C.E.P.R. Discussion Papers.

    Cited by:

    1. Masashige Hamano & Francesco Zanetti, 2020. "Monetary Policy, Firm Heterogeneity, and Product Variety," Working Papers 2005, Waseda University, Faculty of Political Science and Economics.
    2. Weber, Henning, 2013. "Learning By Doing in New Firms and the Optimal Rate of Inflation," VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79761, Verein für Socialpolitik / German Economic Association.
    3. Patureau, Lise & Poilly, Céline, 2019. "Reforms and the real exchange rate: The role of pricing-to-market," Journal of International Economics, Elsevier, vol. 119(C), pages 150-168.
    4. Lechthaler, Wolfgang & Mileva, Mariya, 2024. "Trade liberalization, wage inequality, and monetary policy," Journal of International Money and Finance, Elsevier, vol. 143(C).
    5. Aysun, Uluc, 2020. "Volatility costs of R&D," European Economic Review, Elsevier, vol. 122(C).
    6. Daisuke MIYAKAWA & Koki OIKAWA & Kozo UEDA, 2018. "Reallocation Effects of Monetary Policy," Discussion papers 18056, Research Institute of Economy, Trade and Industry (RIETI).
    7. Klaus Adam & Henning Weber, 2019. "Optimal Trend Inflation," American Economic Review, American Economic Association, vol. 109(2), pages 702-737, February.
    8. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    9. Ghironi, Fabio & Melitz, Marc J & Bilbiie, Florin, 2011. "Endogenous Entry, Product Variety, and Business Cycles," CEPR Discussion Papers 8564, C.E.P.R. Discussion Papers.
    10. Saroj Bhattarai & Konstantin Kucheryavyy, 2024. "Aggregate Properties of Open Economy Models with Expanding Varieties," Journal of the European Economic Association, European Economic Association, vol. 22(1), pages 263-309.
    11. Miura, Shogo, 2023. "Optimal inflation rate and fair wage," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 158-167.
    12. Matteo Cacciatore, 2013. "Trade, Unemployment, and Monetary Policy," 2013 Meeting Papers 724, Society for Economic Dynamics.
    13. Florin O. Bilbiie & Marc J. Melitz, 2020. "Aggregate-Demand Amplification of Supply Disruptions: The Entry-Exit Multiplier," NBER Working Papers 28258, National Bureau of Economic Research, Inc.
    14. Masashige Hamano & Philip Schnattinger & Mototsugu Shintani & Iichiro Uesugi & Francesco Zanetti, 2025. "Credit Market Tightness and Zombie Firms: Theory and Evidence," CAMA Working Papers 2025-05, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    15. Masashige Hamano & Pierre M. Picard, 2017. "Extensive and intensive margins and exchange rate regimes," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(3), pages 804-837, August.
    16. Vivien Lewis, 2009. "Optimal monetary policy and firm entry," Working Paper Research 178, National Bank of Belgium.
    17. Ghironi, Fabio & Chugh, Sanjay K., 2015. "Optimal Fiscal Policy with Endogenous Product Variety," CEPR Discussion Papers 10674, C.E.P.R. Discussion Papers.
    18. Lewis, Vivien & Poilly, Céline, 2012. "Firm entry, markups and the monetary transmission mechanism," Journal of Monetary Economics, Elsevier, vol. 59(7), pages 670-685.
    19. Adam, Klaus & Weber, Henning, 2020. "Estimating the Optimal Inflation Target from Trends in Relative Prices," CEPR Discussion Papers 14335, C.E.P.R. Discussion Papers.
    20. Dudley Cooke & Tatiana Damjanovic, 2021. "Monetary Policy and Welfare with Heterogeneous Firms and Endogenous Entry," Department of Economics Working Papers 2021_02, Durham University, Department of Economics.
    21. Dennery, Charles, 2019. "Dampened expectations in the Phillips Curve: a note," MPRA Paper 98189, University Library of Munich, Germany.
    22. Annicchiarico, Barbara & Correani, Luca & Di Dio, Fabio, 2018. "Environmental policy and endogenous market structure," Resource and Energy Economics, Elsevier, vol. 52(C), pages 186-215.
    23. Klaus Adam & Henning Weber, 2019. "Price Trends Over the Product Life Cycle and the Optimal Inflation Target," CESifo Working Paper Series 7889, CESifo.
    24. Cheng-wei Chang & Ching-chong Lai, 2021. "Optimal fiscal policies and market structures with monopolistic competition," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 28(6), pages 1385-1411, December.
    25. Matthew Read, 2020. "Monetary Policy and Firm Dynamics," Papers 2011.03514, arXiv.org.
    26. Uluc Aysun & Zeynep Yom, 2019. "R&D, innovation spillover and business cycles," Working Papers 2019-04, University of Central Florida, Department of Economics.
    27. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2016. "Market deregulation and optimal monetary policy in a monetary union," Journal of International Economics, Elsevier, vol. 99(C), pages 120-137.
    28. Guilloux-Nefussi, Sophie, 2020. "Globalization, market structure and inflation dynamics," Journal of International Economics, Elsevier, vol. 123(C).
    29. Ippei Fujiwara & Yuki Teranishi, 2013. "Financial Stability in Open Economies," CAMA Working Papers 2013-71, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    30. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    31. Florin O Bilbiie & Xavier Ragot, 2020. "Optimal monetary policy and liquidity with heterogeneous households," Post-Print hal-03100875, HAL.
    32. Ippei Fujiwara & Yuki Teranishi, 2015. "Financal frictions and policy cooperation: a case with monopolistic banking and staggered loan contracts," Globalization Institute Working Papers 237, Federal Reserve Bank of Dallas.
    33. Alexander Tarasov & Robertas Zubrickas, 2023. "Optimal income taxation under monopolistic competition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(2), pages 495-523, August.
    34. Dudley Cooke & Tatiana Damjanovic, 2016. "Optimal Fiscal Policy in a Model of Firm Entry and Financial Frictions," Discussion Papers 1606, University of Exeter, Department of Economics.
    35. Federico Etro & Lorenza Rossi, 2014. "New-Keynesian Phillips Curve with Bertrand Competition and Endogenous Entry," Working Papers 2014:11, Department of Economics, University of Venice "Ca' Foscari".
    36. Federico Etro, 2014. "The Theory Of Endogenous Market Structures," Journal of Economic Surveys, Wiley Blackwell, vol. 28(5), pages 804-830, December.
    37. Julien Matheron & Philippe Andrade & Hervé Le Bihan & Jordi Galí, 2017. "The Optimal Inflation Target and the Natural Rate of Interest," Working Papers 1009, Barcelona School of Economics.
    38. Antoine Lepetit, 2022. "The Optimal Inflation Rate with Discount Factor Heterogeneity," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(7), pages 1971-1996, October.
    39. Stefano Fasani & Haroon Mumtaz & Lorenza Rossi, 2023. "Monetary Policy and Firm Dynamics," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 278-296, January.
    40. Cheng‐wei Chang, 2023. "Optimal fiscal policy under monopolistic competition with firm heterogeneity," Scottish Journal of Political Economy, Scottish Economic Society, vol. 70(5), pages 423-438, November.
    41. Pavlov, Oscar, 2016. "Can firm entry explain news-driven fluctuations?," Economic Modelling, Elsevier, vol. 52(PB), pages 427-434.
    42. Mayumi Ojima & Junnosuke Shino & Kozo Ueda, 2018. "Retailer Market Concentration, Buyer-Size Discounts and Inflation Dynamics," The Japanese Economic Review, Springer, vol. 69(1), pages 101-127, March.
    43. Weber, Henning, 2012. "The optimal inflation rate and firm-level productivity growth," Kiel Working Papers 1773, Kiel Institute for the World Economy (IfW Kiel).
    44. Braun, Rahel & Lein, Sarah M., 2019. "Sources of Bias in Inflation Rates and Implications for Inflation Dynamics," Working papers 2019/02, Faculty of Business and Economics - University of Basel.
    45. Yuko Imura & Malik Shukayev, 2018. "The Extensive Margin of Trade and Monetary Policy," Staff Working Papers 18-37, Bank of Canada.
    46. Vivien LEWIS & Roland WINKLER, 2013. "Product diversity, demand structures and optimal taxation," Working Papers of Department of Economics, Leuven ces13.22, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    47. Bernardino Adão & André C. Silva, 2021. "Government financing, inflation, and the financial sector," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(4), pages 1357-1396, June.
    48. Koki Oikawa & Kozo Ueda, 2015. "Short- and Long-Run Tradeoff Monetary Easing," UTokyo Price Project Working Paper Series 058, University of Tokyo, Graduate School of Economics.
    49. Hartwig, Benny & Lieberknecht, Philipp, 2020. "Monetary policy, firm exit and productivity," Discussion Papers 61/2020, Deutsche Bundesbank.
    50. Bilbiie, Florin O. & Fujiwara, Ippei & Ghironi, Fabio, 2014. "Optimal monetary policy with endogenous entry and product variety," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 1-20.
    51. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2015. "The domestic and international effects of euro area market reforms," Research in Economics, Elsevier, vol. 69(4), pages 555-581.
    52. Claudio Michelacci & Luigi Paciello & Andrea Pozzi, 2019. "The Extensive Margin of Aggregate Consumption Demand," EIEF Working Papers Series 1906, Einaudi Institute for Economics and Finance (EIEF), revised Apr 2019.
    53. Takushi Kurozumi & Willem Van Zandweghe, 2022. "Labor Supply Shocks, Labor Force Entry, and Monetary Policy," Working Papers 22-17, Federal Reserve Bank of Cleveland, revised 15 Aug 2020.
    54. Lorenza Rossi, 2018. "The Overshooting of Firms Destruction, Banks and Productivity Shocks," DEM Working Papers Series 147, University of Pavia, Department of Economics and Management.
    55. Uluc Aysun & Zeynep Yom, 2021. "R&D Characteristics, Innovation Spillover, and Technology-Driven Business Cycles," Journal of Industry, Competition and Trade, Springer, vol. 21(3), pages 339-365, September.
    56. Weber, Henning, 2015. "Innovation and the Optimal Rate of Inflation," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113087, Verein für Socialpolitik / German Economic Association.
    57. Beatriz González & Galo Nuño & Dominik Thaler & Silvia Albrizio, 2021. "Firm Heterogeneity, Capital Misallocation and Optimal Monetary Policy," CESifo Working Paper Series 9465, CESifo.
    58. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    59. Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2008. "Monopoly Power and Endogenous Product Variety: Distortions and Remedies," NBER Working Papers 14383, National Bureau of Economic Research, Inc.
    60. Alexander Tarasov & Robertas Zubrickas, 2021. "Optimal Income Taxation under Monopolistic Competition," CESifo Working Paper Series 9309, CESifo.
    61. Dávila-Ospina, Andrés O., 2023. "Hysteresis From Monetary Policy Mistakes: How Bad Could It Be?," Documentos CEDE 21003, Universidad de los Andes, Facultad de Economía, CEDE.
    62. Bilbiie, Florin, 2017. "Monetary Neutrality with Sticky Prices and Free Entry," CEPR Discussion Papers 12068, C.E.P.R. Discussion Papers.
    63. Andrea Colciago & Riccardo Silvestrini, 2020. "Monetary policy, productivity, and market concentration," Working Papers 685, DNB.
    64. Antoine Lepetit, 2020. "Asymmetric Unemployment Fluctuations and Monetary Policy Trade-Offs," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 36, pages 29-45, April.
    65. Etro, Federico & Rossi, Lorenza, 2015. "Optimal monetary policy under Calvo pricing with Bertrand competition," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 423-440.
    66. Tomohide Mineyama & Wataru Hirata & Kenji Nishizaki, 2019. "Inflation and Social Welfare in a New Keynesian Model: The Case of Japan and the U.S," Bank of Japan Working Paper Series 19-E-10, Bank of Japan.
    67. Kurozumi, Takushi & Van Zandweghe, Willem, 2024. "Output-inflation trade-offs and the optimal inflation rate," Journal of Economic Dynamics and Control, Elsevier, vol. 164(C).
    68. Koki Oikawa & Kozo Ueda, 2015. "The Optimal Inflation Rate under Schumpeterian Growth," CAMA Working Papers 2015-14, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    69. Ippei FUJIWARA & Shunsuke HORI & Yuichiro WAKI, 2019. "Generational War on Inflation: Optimal Inflation Rates for the Young and the Old," Discussion papers 19021, Research Institute of Economy, Trade and Industry (RIETI).
    70. Santoro, Sergio & Viviano, Eliana, 2022. "Optimal trend inflation, misallocation and the pass-through of labour costs to prices," Working Paper Series 2761, European Central Bank.
    71. Faia, Ester, 2009. "Oligopolistic competition and optimal monetary policy," Kiel Working Papers 1552, Kiel Institute for the World Economy (IfW Kiel).
    72. Ghironi, Fabio, 2017. "Macro Needs Micro," CEPR Discussion Papers 12299, C.E.P.R. Discussion Papers.
    73. Masashige Hamano & Pierre M. Picard, 2013. "Extensive and intensive margins and the choice of exchange rate regimes," DEM Discussion Paper Series 13-18, Department of Economics at the University of Luxembourg.
    74. Barbara Annicchiarico & Alessandra Pelloni, 2016. "Innovation, Growth and Optimal Monetary Policy," CEIS Research Paper 376, Tor Vergata University, CEIS, revised 01 Apr 2016.
    75. Andrés, Javier & Burriel, Pablo, 2018. "Inflation and optimal monetary policy in a model with firm heterogeneity and Bertrand competition," European Economic Review, Elsevier, vol. 103(C), pages 18-38.
    76. Schumacher, Malte D. & Żochowski, Dawid, 2017. "The risk premium channel and long-term growth," Working Paper Series 2114, European Central Bank.
    77. Lewis, Vivien & Stevens, Arnoud, 2012. "The competition effect in business cycles," IMFS Working Paper Series 51, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).

  24. Florin Bilbiie, 2009. "Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622869, HAL.

    Cited by:

    1. Roberto Perotti, 2008. "In Search of the Transmission Mechanism of Fiscal Policy," NBER Chapters, in: NBER Macroeconomics Annual 2007, Volume 22, pages 169-226, National Bureau of Economic Research, Inc.
    2. Patrick F?ve & Julien Matheron & Jean-Guillaume Sahuc, 2013. "A Pitfall with Estimated DSGE-Based Government Spending Multipliers," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 141-178, October.
    3. Stefano Eusepi & Bruce Preston, 2008. "Expectations, Learning And Business Cycle Fluctuations," CAMA Working Papers 2008-20, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    4. Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021. "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1275-1313, November.
    5. Troy Davig & Eric Leeper, 2009. "Monetary-Fiscal Policy Interactions And Fiscal Stimulus," CAEPR Working Papers 2009-010, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    6. Quaghebeur, Ewoud, 2019. "Learning And The Size Of The Government Spending Multiplier," Macroeconomic Dynamics, Cambridge University Press, vol. 23(8), pages 3189-3224, December.
    7. Philipp Wegmueller, 2014. "Utility functions, fiscal shocks and the open economy - In the search of a positive consumption multiplier," Diskussionsschriften dp1407, Universitaet Bern, Departement Volkswirtschaft.
    8. Miyamoto, Wataru & Nguyen, Thuy Lan, 2019. "International Linkages and the Changing Nature of International Business Cycles," CEI Working Paper Series 2018-16, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    9. Anna Kormilitsina & Sarah Zubairy, 2015. "Propagation Mechanisms for Government Spending Shocks: A Bayesian Comparison," EcoMod2015 8646, EcoMod.
    10. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    11. Miyamoto, Wataru & Nguyen, Thuy Lan, 2024. "International input–output linkages and changing business cycle volatility," Journal of International Economics, Elsevier, vol. 147(C).
    12. Andrea Colciago, 2006. "Sticky wages and rule of thumb consumers," Working Papers 98, University of Milano-Bicocca, Department of Economics, revised Sep 2006.
    13. Munechika Katayama & Kwang Hwan Kim, 2018. "Intersectoral Labor Immobility, Sectoral Comovement, and News Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(1), pages 77-114, February.
    14. Fève, Patrick & Sahuc, Jean-Guillaume, 2013. "On the Size of the Government Spending Multiplier in the Euro Area," TSE Working Papers 13-396, Toulouse School of Economics (TSE), revised Nov 2013.
    15. Eric M. Leeper & Nora Traum & Todd B. Walker, 2017. "Clearing Up the Fiscal Multiplier Morass," American Economic Review, American Economic Association, vol. 107(8), pages 2409-2454, August.
    16. Antonello d’Alessandro & Giulio Fella & Leonardo Melosi, 2018. "Fiscal Stimulus with Learning-By-Doing," Discussion Papers 1818, Centre for Macroeconomics (CFM).
    17. Leith, Campbell & Moldovan, Ioana & Rossi, Raffaele, 2009. "Monetary and Fiscal Policy under Deep Habits," SIRE Discussion Papers 2009-47, Scottish Institute for Research in Economics (SIRE).
    18. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, C.E.P.R. Discussion Papers.
    19. Florin Bilbiie, 2011. "Non-Separable Preferences, Frisch Labor Supply and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Post-Print hal-00622872, HAL.
    20. Ida, Daisuke & Okano, Mitsuhiro, 2023. "Does nominal wage stickiness affect fiscal multiplier in a two-agent new Keynesian model?," MPRA Paper 117241, University Library of Munich, Germany.
    21. Stefano Gnocchi & Daniela Hauser & Evi Pappa, 2014. "Housework and Fiscal Expansions," Staff Working Papers 14-34, Bank of Canada.
    22. Perotti, Roberto & Monacelli, Tommas, 2008. "Fiscal Policy, Wealth Effects and Markups," CEPR Discussion Papers 7099, C.E.P.R. Discussion Papers.
    23. Francesco FURLANETTO, 2007. "Fiscal Shocks and the Consumption Response when Wages are Sticky," Cahiers de Recherches Economiques du Département d'économie 07.11, Université de Lausanne, Faculté des HEC, Département d’économie.
    24. Donggyu Lee, 2024. "Unconventional Monetary Policies and Inequality," Staff Reports 1108, Federal Reserve Bank of New York.
    25. Cheng-Wei Chang & Ching-Chong Lai & Juin-Jen Chang, 2018. "Fiscal Stimulus and Endogenous Firm Entry in a Monopolistic Competition Macroeconomic Model," The Japanese Economic Review, Springer, vol. 69(2), pages 207-225, June.
    26. Fève, Patrick & Matheron, Julien & Sahuc, Jean-Guillaume, 2012. "A Pitfall with DSGE-Based, Estimated, Government Spending Multipliers," IDEI Working Papers 708, Institut d'Économie Industrielle (IDEI), Toulouse.
    27. Takao Fujii & Kazuki Hiraga & Masafumi Kozuka, 2012. "Analyses of Public Investment Shock in Japan: Factor Augmented Vector Autoregressive Approach," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-006, Keio/Kyoto Joint Global COE Program.
    28. Auclert, Adrien & Rognlie, Matthew, 2020. "MPCs, MPEs and Multipliers: A Trilemma for New Keynesian Models," CEPR Discussion Papers 14977, C.E.P.R. Discussion Papers.
    29. Givens, Gregory, 2019. "Unemployment, Partial Insurance, and the Multiplier Effects of Government Spending," MPRA Paper 96811, University Library of Munich, Germany.
    30. Stefano Eusepi & Bruce Preston, 2009. "Consumption heterogeneity, employment dynamics, and macroeconomic co-movement," Staff Reports 399, Federal Reserve Bank of New York.
    31. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2021. "Adaptive Importance Sampling for DSGE Models," BEMPS - Bozen Economics & Management Paper Series BEMPS84, Faculty of Economics and Management at the Free University of Bozen.
    32. Zubairy, Sarah, 2010. "Explaining the Effects of Government Spending Shocks," MPRA Paper 26051, University Library of Munich, Germany.
    33. Iwata, Yasuharu, 2013. "Two fiscal policy puzzles revisited: New evidence and an explanation," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 188-207.
    34. Giorgio Massari & Luca Portoghese & Patrizio Tirelli, 2024. "Whither Liquidity Shocks? Implications for R∗ and Monetary Policy," DEM Working Papers Series 217, University of Pavia, Department of Economics and Management.
    35. Eric M. Leeper & Nora Traum & Todd B. Walker, 2015. "Clearing Up the Fiscal Multiplier Morass: Prior and Posterior Analysis," NBER Working Papers 21433, National Bureau of Economic Research, Inc.
    36. Munechika Katayama & Kwang Hwan Kim, 2010. "Costly Labor Reallocation, Non-Separable Preferences, and Expectation Driven Business Cycles," Departmental Working Papers 2010-05, Department of Economics, Louisiana State University.
    37. Robert E. Hall, 2009. "By How Much Does GDP Rise if the Government Buys More Output?," NBER Working Papers 15496, National Bureau of Economic Research, Inc.
    38. Elliot Aurissergues, 2016. "Demand shocks, new keynesian model and supply effects of monetary policy," Working Papers halshs-01288980, HAL.
    39. Elliot Aurissergues, 2017. "Monetary Policy Puzzle and wealth targeting consumers," Working Papers halshs-01625347, HAL.
    40. Stefano Eusepi & Bruce Preston, 2009. "Labor Supply Heterogeneity and Macroeconomic Co-movement," NBER Working Papers 15561, National Bureau of Economic Research, Inc.
    41. Furlanetto, Francesco & Seneca, Martin, 2014. "Investment shocks and consumption," European Economic Review, Elsevier, vol. 66(C), pages 111-126.
    42. Babette Jansen & Roland Winkler, 2024. "Household Heterogeneity, Nonseparable Preferences, and the Taylor Principle," Jena Economics Research Papers 2024-006, Friedrich-Schiller-University Jena.
    43. Claudio Bonilla & Marcos Vergara, 2022. "New results on precautionary saving and nonlinear risks," Journal of Economics, Springer, vol. 136(2), pages 177-189, July.

  25. Bilbiie, Florin, 2009. "Non-Separable Preferences and Frisch Labor Supply: One Solution to a Fiscal Policy Puzzle," CEPR Discussion Papers 7484, C.E.P.R. Discussion Papers.

    Cited by:

    1. Tesfaselassie, Mewael F., 2011. "Trend growth and the dynamic effects of government spending," Kiel Working Papers 1678, Kiel Institute for the World Economy (IfW Kiel).
    2. Enders, Zeno & Müller, Gernot J. & Scholl, Almuth, 2008. "How do fiscal and technology shocks affect real exchange rates? New evidence for the United States," CFS Working Paper Series 2008/22, Center for Financial Studies (CFS).
    3. L. Marattin & A. Palestini, 2010. "Government Spending Under Non-Separability: a Theoretical Analysis," Working Papers wp722, Dipartimento Scienze Economiche, Universita' di Bologna.
    4. Saeidinezhad, Elham, 2014. "The International Spillover of Fiscal and Technology Shocks before the Crisis: The case of the UK and Italy," MPRA Paper 98556, University Library of Munich, Germany.
    5. Juessen, Falko & Linnemann, Ludger, 2012. "Markups and fiscal transmission in a panel of OECD countries," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 674-686.
    6. Michael Woodford, 2010. "Simple Analytics of the Government Expenditure Multiplier," NBER Working Papers 15714, National Bureau of Economic Research, Inc.
    7. Hashmat Khan & Abeer Reza, 2017. "House Prices and Government Spending Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(6), pages 1247-1271, September.
    8. L. Marattin & M. Marzo, 2010. "The Multiplier-Effects of Non-Wasteful Government Expenditure," Working Papers 704, Dipartimento Scienze Economiche, Universita' di Bologna.
    9. Madalina-Gabriela ANGHEL & Constantin Anghelache & Tudor SAMSON & Radu STOICA, 2016. "Analysis of index prices of population consumption reveals a moderation through fiscal measures," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(12), pages 148-156, December.
    10. Robert E. Hall, 2009. "By How Much Does GDP Rise if the Government Buys More Output?," NBER Working Papers 15496, National Bureau of Economic Research, Inc.

  26. Bilbiie, Florin, 2009. "Delegating Optimal Monetary Policy Inertia," CEPR Discussion Papers 7482, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
    2. Taisuke Nakata & Sebastian Schmidt & Paul Yoo, 2020. "Speed Limit Policy and Liquidity Traps," CARF F-Series CARF-F-480, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    3. Martin Bodenstein & Junzhu Zhao, 2017. "On Targeting Frameworks and Optimal Monetary Policy," Finance and Economics Discussion Series 2017-098, Board of Governors of the Federal Reserve System (U.S.).
    4. Ida, Daisuke & Okano, Mitsuhiro, 2023. "Optimal monetary policy delegation in a small-open new Keynesian model with robust control," Economic Modelling, Elsevier, vol. 120(C).
    5. Ida, Daisuke, 2020. "Sectoral inflation persistence and optimal monetary policy," Journal of Macroeconomics, Elsevier, vol. 65(C).
    6. Taisuke Nakata & Sebastian Schmidt, 2018. "Online Appendix to "Gradualism and Liquidity Traps"," Online Appendices 17-251, Review of Economic Dynamics.
    7. Kohei Hasui & Teruyoshi Kobayashi & Tomohiro Sugo, 2019. "Irreversible monetary policy at the zero lower bound," Discussion Papers 1906, Graduate School of Economics, Kobe University.
    8. Taisuke Nakata & Sebastian Schmidt, 2016. "Gradualism and Liquidity Traps," Finance and Economics Discussion Series 2016-092, Board of Governors of the Federal Reserve System (U.S.).
    9. Marest, Luc & Thurston, Thom, 2018. "Measuring the value of central bank commitment in the benchmark New Keynesian model," Journal of Macroeconomics, Elsevier, vol. 58(C), pages 249-265.
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    3. Acharya, Sushant & CHALLE, Edouard & Dogra, Keshav, 2020. "Optimal Monetary Policy According to HANK," CEPR Discussion Papers 14429, C.E.P.R. Discussion Papers.
    4. KLEIN, Mathias & POLATTIMUR, Hamza & WINKLER, Roland, 2020. "Fiscal spending multipliers over the household leverage cycle," Working Papers 2020007, University of Antwerp, Faculty of Business and Economics.
    5. Bilbiie, Florin, 2016. "Optimal Forward Guidance," CEPR Discussion Papers 11251, C.E.P.R. Discussion Papers.
    6. Eskelinen, Maria, 2021. "Monetary policy, agent heterogeneity and inequality: insights from a three-agent New Keynesian model," Working Paper Series 2590, European Central Bank.
    7. Florin Bilbiie & Roland Straub, 2013. "Asset Market Participation, Monetary Policy Rules, and the Great Inflation," Post-Print hal-00622873, HAL.
    8. Nils M. Gornemann & Sebastian Hildebrand & Keith Kuester, 2024. "Limited (Energy) Supply, Monetary Policy, and Sunspots," International Finance Discussion Papers 1395, Board of Governors of the Federal Reserve System (U.S.).
    9. Debortoli, Davide & Galí, Jordi, 2024. "Heterogeneity and Aggregate Fluctuations: Insights from TANK models," CEPR Discussion Papers 19134, C.E.P.R. Discussion Papers.
    10. Nils Gornemann & Sebastian Hildebrand & Keith Kuester, 2022. "Limited Energy Supply, Sunspots, and Monetary Policy," ECONtribute Discussion Papers Series 215, University of Bonn and University of Cologne, Germany.
    11. Luca Fornaro & Martin Wolf, 2020. "The scars of supply shocks: Implications for monetary policy," Economics Working Papers 1748, Department of Economics and Business, Universitat Pompeu Fabra, revised Mar 2023.
    12. Akihisa Shibata & Mototsugu Shintani & Takayuki Tsuruga, 2018. "Current Account Dynamics under Information Rigidity and Imperfect Capital Mobility," Globalization Institute Working Papers 335, Federal Reserve Bank of Dallas.
    13. Ansgar Rannenberg, 2019. "Inequality, the risk of secular stagnation and the increase in household deb," Working Paper Research 375, National Bank of Belgium.
    14. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    15. Aggarwal, Rishabh & Auclert, Adrien & Rognlie, Matthew & Straub, Ludwig, 2022. "Excess Savings and Twin Deficits: The Transmission of Fiscal Stimulus in Open Economies," CEPR Discussion Papers 17397, C.E.P.R. Discussion Papers.
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    21. Mitman, Kurt & Manovskii, Iourii & Hagedorn, Marcus, 2019. "The Fiscal Multiplier," CEPR Discussion Papers 13529, C.E.P.R. Discussion Papers.
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    23. Fernando Alvarez & Francesco Lippi, 2010. "Persistent Liquidity Effect and Long Run Money Demand," EIEF Working Papers Series 1017, Einaudi Institute for Economics and Finance (EIEF), revised Oct 2010.
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  29. Florin Bilbiie & Fabio Ghironi & Marc Melitz, 2008. "Monetary Policy and Business Cycles with Endogenous Entry and Product Variety," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622866, HAL.

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    7. Corsetti, Giancarlo & Bergin, Paul R, 2020. "The Macroeconomic Stabilization of Tariff Shocks: What is the Optimal Monetary Response?," CEPR Discussion Papers 14556, C.E.P.R. Discussion Papers.
    8. Lenno Uuskula, 2016. "Monetary transmission mechanism with firm turnover," Bank of Estonia Working Papers wp2016-7, Bank of Estonia, revised 10 Oct 2016.
    9. Schnell, Fabian, 2013. "Can Monetary Policy Delay the Reallocation of Capital?," Economics Working Paper Series 1329, University of St. Gallen, School of Economics and Political Science.
    10. Aysun, Uluc, 2020. "Volatility costs of R&D," European Economic Review, Elsevier, vol. 122(C).
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    13. Matteo Cacciatore & Fabio Ghironi & Stephen J. Turnovsky, 2015. "Inflation Targeting and Economic Reforms in New Zealand," International Journal of Central Banking, International Journal of Central Banking, vol. 11(4), pages 145-198, September.
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    15. Ghironi, Fabio & Melitz, Marc J & Bilbiie, Florin, 2011. "Endogenous Entry, Product Variety, and Business Cycles," CEPR Discussion Papers 8564, C.E.P.R. Discussion Papers.
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    20. Matteo Cacciatore & Mr. Romain A Duval & Giuseppe Fiori & Mr. Fabio Ghironi, 2017. "Market Reforms at the Zero Lower Bound," IMF Working Papers 2017/215, International Monetary Fund.
    21. Masashige Hamano & Pierre M. Picard, 2017. "Extensive and intensive margins and exchange rate regimes," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 50(3), pages 804-837, August.
    22. Masahiro Kawai & Fan Zhai, 2010. "Asia’s Post-Global Financial Crisis Adjustment : A Model-Based Dynamic Scenario Analysis," Finance Working Papers 23055, East Asian Bureau of Economic Research.
    23. Chafwehé, Boris & Colciago, Andrea & Priftis, Romanos, 2024. "Reallocation, productivity, and monetary policy in an energy crisis," Bank of England working papers 1091, Bank of England.
    24. Wang, Ren & Hou, Jie & He, Xiaobei, 2017. "Real estate price and heterogeneous investment behavior in China," Economic Modelling, Elsevier, vol. 60(C), pages 271-280.
    25. Vivien Lewis, 2009. "Optimal monetary policy and firm entry," Working Paper Research 178, National Bank of Belgium.
    26. Ghironi, Fabio & Chugh, Sanjay K., 2015. "Optimal Fiscal Policy with Endogenous Product Variety," CEPR Discussion Papers 10674, C.E.P.R. Discussion Papers.
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    5. Bilbiie, Florin O. & Meier, André & Müller, Gernot J., 2006. "What accounts for the changes in U.S. fiscal policy transmission?," Working Paper Series 582, European Central Bank.
    6. Deleidi, Matteo & Iafrate, Francesca & Levrero, Enrico Sergio, 2020. "Public investment fiscal multipliers: An empirical assessment for European countries," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 354-365.
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    9. Cimadomo, Jacopo & Bénassy-Quéré, Agnès, 2012. "Changing patterns of fiscal policy multipliers in Germany, the UK and the US," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 845-873.
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    22. Rocío Betancourt & Hernando Vargas & Norberto Rodríguez., 2008. "Interest Rate Pass-Through in Colombia: a Micro-Banking Perspective," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 45(131), pages 29-58.
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    33. Giorgio Motta & Patrizio Tirelli, 2011. "Optimal Simple Monetary and Fiscal Rules under Limited Asset Market Participation," Working Papers 204, University of Milano-Bicocca, Department of Economics, revised Mar 2011.
    34. Cimadomo, Jacopo & Hauptmeier, Sebastian & Sola, Sergio, 2011. "Identifying the effects of government spending shocks with and without expected reversal: an approach based on U.S. real-time data," Working Paper Series 1361, European Central Bank.
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    36. Lemoine Matthieu & Lind Jesper, 2021. "Fiscal Stimulus in Liquidity Traps: Conventional or Unconventional Policies?," Working papers 799, Banque de France.
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    38. Bilbiie, Florin, 2018. "Complementarity, Income, and Substitution: A U(C,N) Utility for Macro," CEPR Discussion Papers 12812, C.E.P.R. Discussion Papers.
    39. Cantore, Cristiano & Freund, Lukas, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    40. Ms. Susan S. Yang & Ms. Nora Traum, 2010. "Monetary and Fiscal Policy Interactions in the Post-war U.S," IMF Working Papers 2010/243, International Monetary Fund.
    41. Florin Bilbiie, 2011. "Non-Separable Preferences, Frisch Labor Supply and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Post-Print hal-00622872, HAL.
    42. Mathias Klein & Ludger Linnemann, 2019. "Tax and Spending Shocks in the Open Economy: Are the Deficits Twins?," Discussion Papers of DIW Berlin 1821, DIW Berlin, German Institute for Economic Research.
    43. Ricardo Nunes, 2010. "Inflation Dynamics: The Role of Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(6), pages 1161-1172, September.
    44. Alice Albonico & Guido Ascari & Qazi Haque, 2024. "The (Ir)Relevance of Rule‐of‐Thumb Consumers for U.S. Business Cycle Fluctuations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(4), pages 769-804, June.
    45. Zervou, Anastasia S., 2013. "Financial market segmentation, stock market volatility and the role of monetary policy," European Economic Review, Elsevier, vol. 63(C), pages 256-272.
    46. Vanessa Kunzmann, 2023. "Estimating Regime Dependent Fiscal Spillover Effects in a Monetary Union," Working Papers 227, Bavarian Graduate Program in Economics (BGPE).
    47. Marco Lorusso & Luca Pieroni, 2019. "Disentangling Civilian and Military Spending Shocks: A Bayesian DSGE Approach for the US Economy," JRFM, MDPI, vol. 12(3), pages 1-41, September.
    48. Philip Arestis & John McCombie, 2009. "On The Effectiveness Of Fiscal Policy As An Instrument Of Macroeconomic Policy," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 77-79, March.
    49. Guo, Fei & Kit-Ming Yan, Isabel & Chen, Tao & Hu, Chun-Tien, 2023. "Fiscal multipliers, monetary efficacy, and hand-to-mouth households," Journal of International Money and Finance, Elsevier, vol. 130(C).
    50. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2013. "Floats, Pegs and the Transmission of Fiscal Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Jordi Galí (ed.),Fiscal Policy and Macroeconomic Performance, edition 1, volume 17, chapter 7, pages 235-281, Central Bank of Chile.
    51. Matthew B. Canzoneri, 2007. "Coordination Of Monetary And Fiscal Policy In A Monetary Union: Policy Issues And Analytical Models," Manchester School, University of Manchester, vol. 75(s1), pages 21-43, September.
    52. Andrea Colciago, 2011. "Rule-of-Thumb Consumers Meet Sticky Wages," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 325-353, March.
    53. Bilbiie, Florin, 2017. "The Puzzle, the Power, and the Dark Side: Forward Guidance Redux," CEPR Discussion Papers 12231, C.E.P.R. Discussion Papers.
    54. Oscar Becerra & Luis Fernando Melo, 2008. "Transmisión de tasas de interés bajo el esquema de metas de inflación: evidencia para Colombia," Borradores de Economia 4731, Banco de la Republica.
    55. Caldara, Dario & Kamps, Christophe, 2008. "What are the effects of fiscal policy shocks? A VAR-based comparative analysis," Working Paper Series 877, European Central Bank.
    56. Daniel Dias, 2006. "Measuring the Importance of the Uniform Nonsynchronization Hypothesis," Working Papers w200603, Banco de Portugal, Economics and Research Department.
    57. Sebastian Gechert & Henner Will, 2012. "Fiscal Multipliers: A Meta Regression Analysis," IMK Working Paper 97-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    58. Klein, Mathias & Linnemann, Ludger, 2019. "Tax and spending shocks in the open economy: are the deficits twins?," Working Paper Series 377, Sveriges Riksbank (Central Bank of Sweden).
    59. Canzoneri, Matthew B & Cumby, Robert & Diba, Behzad & López-Salido, J David, 2008. "Monetary and Fiscal Policy Coordination when Bonds Provide Transactions Services," CEPR Discussion Papers 6814, C.E.P.R. Discussion Papers.
    60. Rong Li & Xiaohui Tian, 2018. "Spending Reversals and Fiscal Multipliers under an Interest Rate Peg," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(4), pages 789-815, June.
    61. Nora Traum & Shu-Chun Susan Yang, 2010. "Does Government Debt Crowd Out Investment? A Bayesian DSGE Approach: Working Paper 2010-02," Working Papers 21397, Congressional Budget Office.
    62. Yasuharu Iwata, 2011. "The Government Spending Multiplier and Fiscal Financing: Insights from Japan," International Finance, Wiley Blackwell, vol. 14(2), pages 231-264, June.
    63. Nao Sudo & Yuki Teranishi, 2008. "Optimal Monetary Policy under Imperfect Financial Integration," IMES Discussion Paper Series 08-E-25, Institute for Monetary and Economic Studies, Bank of Japan.
    64. Givens, Gregory, 2019. "Unemployment, Partial Insurance, and the Multiplier Effects of Government Spending," MPRA Paper 96811, University Library of Munich, Germany.
    65. Sebastian Gechert & Rafael Mentges, 2013. "What Drives Fiscal Multipliers? The Role of Private Wealth and Debt," IMK Working Paper 124-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    66. Alessio Moro & Omar Rachedi, 2022. "The Changing Structure Of Government Consumption Spending," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1293-1323, August.
    67. Giancarlo Corsetti & Michael P. Devereux & Luigi Guiso & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2010. "Chapter 3: From Fiscal Rescue to Global Debt," EEAG Report on the European Economy, CESifo, vol. 0, pages 71-100, February.
    68. Søren Ravn & Morten Spange, 2014. "The Effects of Fiscal Policy in a Small Open Economy with a Fixed Exchange Rate," Open Economies Review, Springer, vol. 25(3), pages 451-476, July.
    69. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2021. "Adaptive Importance Sampling for DSGE Models," BEMPS - Bozen Economics & Management Paper Series BEMPS84, Faculty of Economics and Management at the Free University of Bozen.
    70. Susana Párraga Rodríguez, 2016. "The dynamic effect of public expenditure shocks in the United States," Working Papers 1628, Banco de España.
    71. Sebastian Gechert, 2015. "What fiscal policy is most effective? A meta-regression analysis," Oxford Economic Papers, Oxford University Press, vol. 67(3), pages 553-580.
    72. Sebastian Gechert & Ansgar Rannenberg, 2014. "Are Fiscal Multipliers Regime-Dependent? A Meta Regression Analysis," IMK Working Paper 139-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    73. Hauptmeier, Sebastian & Cimadomo, Jacopo & Kirchner, Markus, 2010. "Transmission of government spending shocks in the euro area: Time variation and driving forces," Working Paper Series 1219, European Central Bank.
    74. Rebei Nooman, 2021. "Evaluating Changes in the Transmission Mechanism of Government Spending Shocks," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(1), pages 253-280, January.
    75. Max Breitenlechner & Martin Geiger & Mathias Klein, 2024. "The Fiscal Channel of Monetary Policy," Working Papers 2024-07, Faculty of Economics and Statistics, Universität Innsbruck.
    76. Henrique S. Basso & Omar Rachedi, 2018. "The young, the old, and the government: demographics and fiscal multipliers," Working Papers 1837, Banco de España.
    77. Luca, Pieroni & Lorusso, Marco, 2015. "Are all the fiscal policy shocks identical? Analysing the effects on private consumption of civilian and military spending shocks," MPRA Paper 69084, University Library of Munich, Germany.
    78. Julio López Gallardo & Luis Antonio Reyes Ortiz, 2014. "Effective Demand in the Recent Evolution of the US Economy [Demande Effective dans l'évolution récente de l'économie des Etats-Unis]," Post-Print halshs-01907268, HAL.
    79. IIBOSHI, Hirokuni & IWATA, Yasuharu, 2023. "The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter," MPRA Paper 116347, University Library of Munich, Germany.
    80. Pieroni, Luca & Lorusso, Marco, 2013. "The Role of Fiscal Policy Components in Private Consumption: a Re-examination of the Effects of Military and Civilian Spending," MPRA Paper 47878, University Library of Munich, Germany.
    81. Afonso, Antonio & Claeys, Peter, 2008. "The dynamic behaviour of budget components and output," Economic Modelling, Elsevier, vol. 25(1), pages 93-117, January.
    82. Tenhofen Jörn & Wolff Guntram B. & Heppke-Falk Kirsten H., 2010. "The Macroeconomic Effects of Exogenous Fiscal Policy Shocks in Germany: A Disaggregated SVAR Analysis," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 230(3), pages 328-355, June.
    83. Giorgio Motta & Patrizio Tirelli, 2010. "Rule-of-thumb Consumers, Consumption Habits and the Taylor Principle," Working Papers 194, University of Milano-Bicocca, Department of Economics, revised Jul 2010.
    84. Airaudo, Marco, 2013. "Monetary policy and stock price dynamics with limited asset market participation," Journal of Macroeconomics, Elsevier, vol. 36(C), pages 1-22.
    85. Givens, Gregory & Tavoy, Reid, 2024. "Entry, unemployment, and the transmission of government spending shocks," MPRA Paper 121894, University Library of Munich, Germany.
    86. Giovanni Callegari & Mr. Giovanni Melina & Nicoletta Batini, 2012. "Successful Austerity in the United States, Europe and Japan," IMF Working Papers 2012/190, International Monetary Fund.
    87. Müller, Gernot & Born, Benjamin & Juessen, Falko, 2012. "Exchange rate regimes and fiscal multipliers," CEPR Discussion Papers 8986, C.E.P.R. Discussion Papers.
    88. Bozhechkova, Alexandra Viktorovna & Vashelyuk, Natalia. & Nazarov, P.A. & Perevyshin, Yuri & Tumanova, Elena Alexandrovna & Shagas, Natalia, 2015. "Modeling the Effects of Economic Policy and Changes in the Behavior of Economic Agents," Published Papers 2311, Russian Presidential Academy of National Economy and Public Administration.
    89. Klein, Mathias & Linnemann, Ludger, 2019. "Tax and spending shocks in the open economy: Are the deficits twins?," European Economic Review, Elsevier, vol. 120(C).
    90. Vitor Carvalho & Manuel M. F. Martins, 2011. "Investment and output effects of fiscal consolidations in a new-Keynesian DSGE model for the Euro Area: composition matters?," EcoMod2011 3246, EcoMod.
    91. Joseph Kopecky, 2021. "The Age for Austerity? Population Age Structure and Fiscal Multipliers," Trinity Economics Papers tep1621, Trinity College Dublin, Department of Economics.
    92. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    93. Felix Kimtai Kiminyei, 2019. "Empirical Investigation on the Relationship among Kenyan Public Debt, Tax Revenue and Government Expenditure," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 5(1), pages 142-159, March.
    94. Claudia M. Buch & Christian Pierdzioch, 2009. "Low Skill but High Volatility?," CESifo Working Paper Series 2665, CESifo.
    95. Deleidi, Matteo & Mazzucato, Mariana, 2021. "Directed innovation policies and the supermultiplier: An empirical assessment of mission-oriented policies in the US economy," Research Policy, Elsevier, vol. 50(2).
    96. Martin Larch & João Nogueira Martins, 2007. "Fiscal indicators - Proceedings of the the Directorate-General for Economic and Financial Affairs Workshop held on 22 September 2006 in Brussels," European Economy - Economic Papers 2008 - 2015 297, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    97. Philip Arestis & Malcolm Sawyer, 2011. "The economic policies of the political economy of the Australian patriot and Cambridge economist," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 8(1), pages 129-145.
    98. Mayer, Eric & Stähler, Nikolai, 2009. "The debt brake: business cycle and welfare consequences of Germany's new fiscal policy rule," Discussion Paper Series 1: Economic Studies 2009,24, Deutsche Bundesbank.
    99. Matthew Canzoneri, 2007. "Coordination of Monetary and Fiscal Policy in a Monetary Union: Policy Issues & Analytical Models," Money Macro and Finance (MMF) Research Group Conference 2006 165, Money Macro and Finance Research Group.
    100. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad & López-Salido, David, 2011. "The role of liquid government bonds in the great transformation of American monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 35(3), pages 282-294, March.
    101. Klein, Mathias & Linnemann, Ludger, 2024. "Tax shocks, firm entry, and productivity in the open economy," Journal of International Money and Finance, Elsevier, vol. 149(C).
    102. Ibrahim Unalmis, 2010. "Composition of the Government Spending and Behaviour of the Real Exchange Rate in a Small Open Economy," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 10(1), pages 1-27.

  31. Marc Melitz & Ghironi, Fabio & Florin Bilbiie, 2006. "Monopoly Power and Endogenous Variety in Dynamic Stochastic General Equilibrium: Distortions and Remedies," Working Paper 14401, Harvard University OpenScholar.

    Cited by:

    1. Swati Dhingra & John Morrow, 2012. "The Impact of Integration on Productivity and Welfare Distortions Under Monopolistic Competition," CEP Discussion Papers dp1130, Centre for Economic Performance, LSE.
    2. Florin Bilbiie & F. Ghironi & M. Melitz, 2007. "Monetary Policy and Business Cycles With Endogenous Entry and Product Variety," Working Papers hal-00515664, HAL.
    3. Argia M. Sbordone, 2007. "Globalization and Inflation Dynamics: The Impact of Increased Competition," NBER Chapters, in: International Dimensions of Monetary Policy, pages 547-579, National Bureau of Economic Research, Inc.
    4. Paolo Epifani & Gino Gancia, 2010. "Trade, markup heterogeneity and misallocations," IEW - Working Papers 469, Institute for Empirical Research in Economics - University of Zurich.
    5. Ippei Fujiwara & Naohisa Hirakata, 2009. "Dynamic Aspects of Productivity Spillovers, Terms of Trade, and the “Home Market Effect”," IMF Staff Papers, Palgrave Macmillan, vol. 56(4), pages 958-969, November.
    6. Nir Jaimovich, 2004. "Firm Dynamics, Markup Variations, and the Business Cycle," Discussion Papers 07-013, Stanford Institute for Economic Policy Research, revised Mar 2007.
    7. Svetlana Demidova & Andrés Rodríguez-Clare, 2007. "Trade Policy under Firm-Level Heterogeneity in a Small Economy," NBER Working Papers 13688, National Bureau of Economic Research, Inc.
    8. Dhingra, Swati & Morrow, John, 2012. "The impact of integration on productivity and welfare distortions under monopolistic competition," LSE Research Online Documents on Economics 121764, London School of Economics and Political Science, LSE Library.
    9. Gutiérrez, Germán & Jones, Callum & Philippon, Thomas, 2021. "Entry costs and aggregate dynamics," Journal of Monetary Economics, Elsevier, vol. 124(S), pages 77-91.
    10. Morrow, John & Dhingra, Swati, 2019. "Monopolistic competition and optimum product diversity under firm heterogeneity," LSE Research Online Documents on Economics 59226, London School of Economics and Political Science, LSE Library.
    11. Kazuyoshi Ohki, 2016. "Welfare analysis and policy implications in Melitz-type model where markup differs across industries," ISER Discussion Paper 0984, Institute of Social and Economic Research, The University of Osaka.
    12. Paul Scanlon, 2008. "New Goods and Asset Prices," 2008 Meeting Papers 927, Society for Economic Dynamics.

  32. Florin Bilbiie & Fabio Ghironi & Marc J. Melitz, 2005. "Business Cycles and Firm Dynamics," 2005 Meeting Papers 842, Society for Economic Dynamics.

    Cited by:

    1. Roberto Perotti, 2008. "In Search of the Transmission Mechanism of Fiscal Policy," NBER Chapters, in: NBER Macroeconomics Annual 2007, Volume 22, pages 169-226, National Bureau of Economic Research, Inc.
    2. Paul R. Bergin & Giancarlo Corsetti, 2005. "Towards a Theory of Firm Entry and Stabilization Policy," NBER Working Papers 11821, National Bureau of Economic Research, Inc.
    3. Tommaso Mancini Griffoli, 2006. "Monetary Policy with Endogenous Firm Entry and Sticky Entry Costs," IHEID Working Papers 09-2006, Economics Section, The Graduate Institute of International Studies.
    4. Lenno Uuskula, 2007. "Firm entry and liquidity," Bank of Estonia Working Papers 2007-06, Bank of Estonia, revised 26 Aug 2007.
    5. Perotti, Roberto & Monacelli, Tommas, 2008. "Fiscal Policy, Wealth Effects and Markups," CEPR Discussion Papers 7099, C.E.P.R. Discussion Papers.
    6. Bergin, Paul R. & Corsetti, Giancarlo, 2008. "The extensive margin and monetary policy," Journal of Monetary Economics, Elsevier, vol. 55(7), pages 1222-1237, October.
    7. Lilia CAVALLARI, 2010. "Firms´ Entry, Monetary Policy and the International Business Cycle," EcoMod2010 259600037, EcoMod.
    8. Tommaso Mancini Griffoli, 2006. "Explaining the Euro's Effect on Trade? Interest Rates in an Augmented Gravity Equation," IHEID Working Papers 10-2006, Economics Section, The Graduate Institute of International Studies.
    9. Brito, Paulo & Dixon, Huw David, 2007. "Entry and the accumulation of capital: a two state-variable extension to the Ramsey model," Cardiff Economics Working Papers E2007/16, Cardiff University, Cardiff Business School, Economics Section, revised Oct 2007.
    10. Halkos, George & Paizanos, Epameinondas, 2015. "Fiscal policy and economic performance: A review of the theoretical and empirical literature," MPRA Paper 67737, University Library of Munich, Germany.
    11. Marta Arespa, 2011. "A New Open Economy Macroeconomic Model with Endogenous Portfolio Diversifi cation and Firms Entry," Working Papers XREAP2011-15, Xarxa de Referència en Economia Aplicada (XREAP), revised Oct 2011.

  33. Florin Bilbiie, 2005. "Limited Asset Markets Participation, Monetary Policy and (Inverted) Keynesian Logic," Economics Papers 2005-W09, Economics Group, Nuffield College, University of Oxford.

    Cited by:

    1. Florin Bilbiie & Roland Straub, 2013. "Asset Market Participation, Monetary Policy Rules, and the Great Inflation," Post-Print hal-00622873, HAL.
    2. Florin Bilbiie, 2008. "Limited Asset Market Participation, Monetary Policy and (Inverted) Aggregate Demand Logic," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622865, HAL.
    3. Bilbiie, Florin O. & Meier, André & Müller, Gernot J., 2006. "What accounts for the changes in U.S. fiscal policy transmission?," Working Paper Series 582, European Central Bank.
    4. Andrea Colciago & Tiziano Ropele & V. Anton Muscatelli & Patrizio Tirelli, 2008. "The Role of Fiscal Policy in a Monetary Union: are National Automatic Stabilizers Effective?," Review of International Economics, Wiley Blackwell, vol. 16(3), pages 591-610, August.
    5. Giovanni Di Bartolomeo & Lorenza Rossi & Massimiliano Tancioni, 2007. "Monetary Policy, Rule-of-Thumb Consumers and External Habits: An International Comparison," Working Papers 0727, University of Crete, Department of Economics.
    6. Giovanni Di Bartolomeo & Lorenza Rossi & Massimiliano Tancioni, 2009. "Monetary Policy, Rule-of-Thumb Consumers and External Habits: A G7 Comparison," Quaderni di Dipartimento 101, University of Pavia, Department of Economics and Quantitative Methods.
    7. Andrea Colciago, 2006. "Sticky wages and rule of thumb consumers," Working Papers 98, University of Milano-Bicocca, Department of Economics, revised Sep 2006.
    8. Forni, Lorenzo & Monteforte, Libero & Sessa, Luca, 2009. "The general equilibrium effects of fiscal policy: Estimates for the Euro area," Journal of Public Economics, Elsevier, vol. 93(3-4), pages 559-585, April.
    9. Jordi Gali & J. David López-Salido & Javier Vallés, 2003. "Understanding the effects of government spending on consumption," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    10. Di Bartolomeo Giovanni & Rossi Lorenza, 2007. "Heterogeneous consumers, demand regimes, monetary policy and equilibrium determinacy," wp.comunite 0024, Department of Communication, University of Teramo.
    11. Francesco Furlanetto & Martin Seneca, 2007. "Rule-of-thumb consumers, productivity and hours," Working Paper 2007/05, Norges Bank.
    12. Gisle James Natvik, 2009. "Government Spending and the Taylor Principle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 57-77, February.
    13. Andrea Colciago, 2011. "Rule-of-Thumb Consumers Meet Sticky Wages," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43, pages 325-353, March.
    14. Fabian Eser, 2009. "Monetary Policy in a Currency Union with Heterogeneous Limited Asset Markets Participation," Economics Series Working Papers 2009-W16, University of Oxford, Department of Economics.
    15. Raffaele Rossi, 2007. "Rule of Thumb Consumers, Public Debt and Income Tax," Working Papers 2007_44, Business School - Economics, University of Glasgow, revised Dec 2007.

  34. Bilbiie, Florin O., 2004. "The great inflation, limited asset markets participation and aggregate demand: FED policy was better than you think," Working Paper Series 408, European Central Bank.

    Cited by:

    1. Landon-Lane, John & Occhino, Filippo, 2008. "Bayesian estimation and evaluation of the segmented markets friction in equilibrium monetary models," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 444-461, March.
    2. Camelia Ioana Ucenic & Laura Bacali, 2008. "The Impact of the Advance of SME's for the Romanian Economy," Working Papers 0804, University of Crete, Department of Economics.
    3. Giovanni Di Bartolomeo & Lorenza Rossi & Massimiliano Tancioni, 2006. "Monetary Policy under Rule-of-Thumb Consumers and External Habits: An International Empirical Comparison," Working Papers in Public Economics 97, Department of Economics and Law, Sapienza University of Roma.
    4. Di Bartolomeo Giovanni & Rossi Lorenza, 2007. "Heterogeneous consumers, demand regimes, monetary policy and equilibrium determinacy," wp.comunite 0024, Department of Communication, University of Teramo.
    5. John Landon-Lane & Filippo Occhino, 2005. "Estimation and Evaluation of a Segmented Markets Monetary Model," Departmental Working Papers 200505, Rutgers University, Department of Economics.
    6. Giovanni Di Bartolomeo & Lorenza Rossi, 2007. "Effectiveness of monetary policy and limited asset market participation: Neoclassical versus Keynesian effects," International Journal of Economic Theory, The International Society for Economic Theory, vol. 3(3), pages 213-218, September.
    7. Di Bartolomeo Giovanni & Manzo Marco, 2007. "Do tax distortions lead to more indeterminacy? A New Keynesian perspective," wp.comunite 0013, Department of Communication, University of Teramo.
    8. Florin Bilbiie, 2005. "Limited Asset Markets Participation, Monetary Policy and (Inverted) Keynesian Logic," Economics Papers 2005-W09, Economics Group, Nuffield College, University of Oxford.

  35. Florin O. Bilbiie & Roland Straub, 2004. "Fiscal Policy, Business Cycles and Labor-Market Fluctuations," MNB Working Papers 2004/6, Magyar Nemzeti Bank (Central Bank of Hungary).

    Cited by:

    1. Bilbiie, Florin O. & Meier, André & Müller, Gernot J., 2006. "What accounts for the changes in U.S. fiscal policy transmission?," Working Paper Series 582, European Central Bank.
    2. Bilbiie, F. O. & Monacelli, T. & Perotti, R., 2024. "Stabilization vs. Redistribution: The Optimal Monetary-Fiscal Mix," Cambridge Working Papers in Economics 2436, Faculty of Economics, University of Cambridge.
    3. Axelle Ferrière & Gaston Navarro, 2018. "The Heterogeneous Effects of Government Spending : It’s All About Taxes," International Finance Discussion Papers 1237, Board of Governors of the Federal Reserve System (U.S.).
    4. Florin Bilbiie & Fabio Ghironi & Marc J. Melitz, 2005. "Business Cycles and Firm Dynamics," 2005 Meeting Papers 842, Society for Economic Dynamics.
    5. Takyi, Paul Owusu & Leon-Gonzalez, Roberto, 2020. "Macroeconomic impact of fiscal policy in Ghana: Analysis of an estimated DSGE model with financial exclusion," Economic Analysis and Policy, Elsevier, vol. 67(C), pages 239-260.
    6. Peersman, Gert & Straub, Roland, 2004. "Technology shocks and robust sign restrictions in a euro area SVAR," Working Paper Series 373, European Central Bank.
    7. Florin O. Bilbiie & Tommaso Monacelli & Roberto Perotti, 2013. "Public Debt and Redistribution with Borrowing Constraints," Economic Journal, Royal Economic Society, vol. 0, pages 64-98, February.
    8. Florin Bilbiie & Roland Straub, 2012. "Changes in the Output Euler Equation and Asset Markets Participation," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00680647, HAL.
    9. IWATA Yasuharu, 2009. "Fiscal Policy in an Estimated DSGE Model of the Japanese Economy: Do Non-Ricardian Households Explain All?," ESRI Discussion paper series 216, Economic and Social Research Institute (ESRI).
    10. Vitor M. Carvalho & Manuel M. F. Martins, 2011. "Macroeconomic effects of fiscal consolidations in a DSGE model for the Euro Area: does composition matter?," FEP Working Papers 421, Universidade do Porto, Faculdade de Economia do Porto.
    11. Jordi Gali & J. David López-Salido & Javier Vallés, 2003. "Understanding the effects of government spending on consumption," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    12. Florin Bilbiie, 2011. "Non-Separable Preferences, Frisch Labor Supply and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Post-Print hal-00622872, HAL.
    13. Adrien Auclert & Ludwig Straub & Matthew Rognlie, 2018. "The Intertemporal Keynesian Cross," 2018 Meeting Papers 999, Society for Economic Dynamics.
    14. Francesco FURLANETTO, 2007. "Fiscal Shocks and the Consumption Response when Wages are Sticky," Cahiers de Recherches Economiques du Département d'économie 07.11, Université de Lausanne, Faculté des HEC, Département d’économie.
    15. Roland Straub & Günter Coenen, 2005. "Non-Ricardian Households and Fiscal Policy in an Estimated DSGE Model of the Euro Area," Computing in Economics and Finance 2005 102, Society for Computational Economics.
    16. Coenen, Günter & Straub, Roland, 2005. "Does government spending crowd in private consumption? Theory and empirical evidence for the euro area," Working Paper Series 513, European Central Bank.
    17. Ricciutelli, Francesco, 2024. "Energy Inflation and Consumption Inequality," MPRA Paper 120899, University Library of Munich, Germany.
    18. Tenhofen Jörn & Wolff Guntram B. & Heppke-Falk Kirsten H., 2010. "The Macroeconomic Effects of Exogenous Fiscal Policy Shocks in Germany: A Disaggregated SVAR Analysis," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 230(3), pages 328-355, June.
    19. Mr. Roland Straub & Gert Peersman, 2006. "Putting the New Keynesian Model to a Test," IMF Working Papers 2006/135, International Monetary Fund.
    20. Vitor Carvalho & Manuel M. F. Martins, 2011. "Investment and output effects of fiscal consolidations in a new-Keynesian DSGE model for the Euro Area: composition matters?," EcoMod2011 3246, EcoMod.
    21. Straub, Roland & Tchakarov, Ivan, 2007. "Assessing the impact of a change in the composition of public spending: a DSGE approach," Working Paper Series 795, European Central Bank.
    22. Florin Bilbiie, 2005. "Limited Asset Markets Participation, Monetary Policy and (Inverted) Keynesian Logic," Economics Papers 2005-W09, Economics Group, Nuffield College, University of Oxford.
    23. Bilbiie, Florin, 2009. "Non-Separable Preferences and Frisch Labor Supply: One Solution to a Fiscal Policy Puzzle," CEPR Discussion Papers 7484, C.E.P.R. Discussion Papers.
    24. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.

Articles

  1. Bilbiie, Florin O. & Monacelli, Tommaso & Perotti, Roberto, 2024. "Stabilization vs. Redistribution: The optimal monetary–fiscal mix," Journal of Monetary Economics, Elsevier, vol. 147(S).
    See citations under working paper version above.
  2. Florin O. Bilbiie, 2022. "Neo-Fisherian Policies and Liquidity Traps," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 378-403, October.
    See citations under working paper version above.
  3. Bilbiie, Florin O. & Känzig, Diego R. & Surico, Paolo, 2022. "Capital and income inequality: An aggregate-demand complementarity," Journal of Monetary Economics, Elsevier, vol. 126(C), pages 154-169.
    See citations under working paper version above.
  4. Florin Bilbiie & Xavier Ragot, 2021. "Optimal Monetary Policy and Liquidity with Heterogeneous Households," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 41, pages 71-95, July.
    See citations under working paper version above.
  5. Florin O. Bilbiie, 2021. "Monetary Neutrality with Sticky Prices and Free Entry," The Review of Economics and Statistics, MIT Press, vol. 103(3), pages 492-504, July.
    See citations under working paper version above.
  6. Florin Bilbiie & Tommaso Monacelli & Roberto Perotti, 2021. "Fiscal Policy in Europe: Controversies over Rules, Mutual Insurance, and Centralization," Journal of Economic Perspectives, American Economic Association, vol. 35(2), pages 77-100, Spring.

    Cited by:

    1. Julia del Amo Valor & Marcos Martín Mateos & Diego Martínez López & Javier J. Pérez, 2023. "Is the European economic governance framework too “complex”? A critical discussion," Working Papers 2023-06, FEDEA.
    2. Frane Banić & Milan Deskar-Škrbić & Maroje Lang, 2025. "Which bite harder: new or old EU fiscal rules? Backcasting Croatian episode under the EDP," Surveys 42, The Croatian National Bank, Croatia.
    3. Daniel Loureiro & Oscar Afonso & Paulo B. Vasconcelos, 2024. "Global directed technical change model with fiscal and monetary policies, and public debt," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-57, April.
    4. Pompeo Della Posta, & Roberto Tamborini, 2021. "The existential trilemma of EMU in a model of fiscal target zone," DEM Working Papers 2021/10, Department of Economics and Management.
    5. Economides, George & Koliousi, Giota & Miaouli, Natasha & Philippopoulos, Apostolis, 2024. "From debt arithmetic to fiscal sustainability and fiscal rules: taking stock and policy lessons," LSE Research Online Documents on Economics 122241, London School of Economics and Political Science, LSE Library.
    6. Ilzetzki, Ethan & Thysen, Heidi, 2024. "Fiscal rules and market discipline," LSE Research Online Documents on Economics 125402, London School of Economics and Political Science, LSE Library.
    7. Plamen Nikolov & Paolo Pasimeni, 2019. "Fiscal Stabilization in the United States: Lessons for Monetary Unions," Economics Working Paper Archive wp_926, Levy Economics Institute.
    8. Havlik, Annika & Heinemann, Friedrich & Helbig, Samuel & Nover, Justus, 2021. "Dispelling the shadow of fiscal dominance? Fiscal and monetary announcement effects for euro area sovereign spreads in the corona pandemic," ZEW Discussion Papers 21-050, ZEW - Leibniz Centre for European Economic Research.
    9. Mario Alloza & Javier Andrés & Pablo Burriel & Iván Kataryniuk & Javier J. Pérez & Juan Luis Vega, 2021. "La reforma del marco de gobernanza de la política fiscal de la Unión Europea en un nuevo entorno macroeconómico," Occasional Papers 2121, Banco de España.
    10. Florian Misch & Martin Rey, 2022. "The case for a loan-based euro area stability fund," Discussion Papers 20, European Stability Mechanism, revised 05 May 2022.
    11. Ethan Ilzetzki & Heidi Christina Thysen, 2025. "Fiscal Rules and Market Discipline," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(1), pages 45-85, March.
    12. Jean-Baptiste Gossé & Camille Jehle & Yann Perdereau & Roger Vicquéry, 2022. "European unemployment insurance and macroeconomic stabilisation: are permanent fiscal transfers between States needed? [La stabilisation macroéconomique par une assurance chômage européenne impliqu," Bulletin de la Banque de France, Banque de France, issue 240.
    13. Mario Alloza & Javier Andrés & Pablo Burriel & Iván Kataryniuk & Javier J. Pérez & Juan Luis Vega, 2021. "The reform of the european Union’s fiscal governance Framework in a new Macroeconomic environment," Occasional Papers 2121, Banco de España.
    14. Căpraru, Bogdan & Georgescu, George & Sprincean, Nicu, 2022. "Do independent fiscal institutions cause better fiscal outcomes in the European Union?," Economic Systems, Elsevier, vol. 46(2).

  7. Bilbiie, Florin O., 2020. "The New Keynesian cross," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 90-108.
    See citations under working paper version above.
  8. Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2019. "Monopoly Power and Endogenous Product Variety: Distortions and Remedies," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(4), pages 140-174, October.
    See citations under working paper version above.
  9. Florin O. Bilbiie & Tommaso Monacelli & Roberto Perotti, 2019. "Is Government Spending at the Zero Lower Bound Desirable?," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(3), pages 147-173, July.
    See citations under working paper version above.
  10. Florin O. Bilbiie, 2019. "Optimal Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(4), pages 310-345, October.
    See citations under working paper version above.
  11. Bilbiie, Florin O. & Fujiwara, Ippei & Ghironi, Fabio, 2014. "Optimal monetary policy with endogenous entry and product variety," Journal of Monetary Economics, Elsevier, vol. 64(C), pages 1-20.
    See citations under working paper version above.
  12. Bilbiie, Florin O., 2014. "Delegating optimal monetary policy inertia," Journal of Economic Dynamics and Control, Elsevier, vol. 48(C), pages 63-78.
    See citations under working paper version above.
  13. Florin O. Bilbiie & Roland Straub, 2013. "Asset Market Participation, Monetary Policy Rules, and the Great Inflation," The Review of Economics and Statistics, MIT Press, vol. 95(2), pages 377-392, May.
    See citations under working paper version above.
  14. Florin O. Bilbiie & Tommaso Monacelli & Roberto Perotti, 2013. "Public Debt and Redistribution with Borrowing Constraints," Economic Journal, Royal Economic Society, vol. 0, pages 64-98, February.
    See citations under working paper version above.
  15. Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2012. "Endogenous Entry, Product Variety, and Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 120(2), pages 304-345.
    See citations under working paper version above.
  16. Bilbiie, Florin O. & Straub, Roland, 2012. "Changes in the output Euler equation and asset markets participation," Journal of Economic Dynamics and Control, Elsevier, vol. 36(11), pages 1659-1672.
    See citations under working paper version above.
  17. Bilbiie, Florin O., 2011. "Designing domestic institutions for international monetary policy cooperation: A Utopia?," Journal of International Money and Finance, Elsevier, vol. 30(3), pages 393-409, April.
    See citations under working paper version above.
  18. Florin O. Bilbiie, 2011. "Nonseparable Preferences, Frisch Labor Supply, and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 221-251, February.
    See citations under working paper version above.
  19. Florin O. Bilbiie, 2011. "The Time Inconsistency of Delegation-Based Time Inconsistency Solutions in Monetary Policy," Journal of Optimization Theory and Applications, Springer, vol. 150(3), pages 657-674, September.
    See citations under working paper version above.
  20. Florin O. Bilbiie, 2009. "Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(2-3), pages 443-450, March.
    See citations under working paper version above.
  21. Florin O. Bilbiie & Andr… Meier & Gernot J. M‹Ller, 2008. "What Accounts for the Changes in U.S. Fiscal Policy Transmission?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(7), pages 1439-1470, October.
    See citations under working paper version above.
  22. Bilbiie, Florin O., 2008. "Limited asset markets participation, monetary policy and (inverted) aggregate demand logic," Journal of Economic Theory, Elsevier, vol. 140(1), pages 162-196, May.
    See citations under working paper version above.

Software components

    Sorry, no citations of software components recorded.

Chapters

  1. Florin O. Bilbiie & Fabio Ghironi & Marc J. Melitz, 2008. "Monetary Policy and Business Cycles with Endogenous Entry and Product Variety," NBER Chapters, in: NBER Macroeconomics Annual 2007, Volume 22, pages 299-353, National Bureau of Economic Research, Inc.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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