Search Results - "Ravenna, Federico"

The size of the tradable and non-tradable sectors: Evidence from input–output tables for 25 countries by Lombardo, Giovanni, Ravenna, Federico

“…We compute the tradable and non-tradable input shares for consumption and investment from the latest release of OECD input–output tables. We document that…”
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Menu Costs at Work: Restaurant Prices and the Introduction of the Euro by Hobijn, Bart, Ravenna, Federico, Tambalotti, Andrea

“…Restaurant prices in the euro area increased dramatically after the introduction of the euro. We show that this increase can be explained by a common menu cost…”
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Uncertainty, Wages and the Business Cycle by Cacciatore, Matteo, Ravenna, Federico

“…Abstract We show that limited wage flexibility in economic downturns generates strong and state-dependent amplification of uncertainty shocks. It also explains…”
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Monetary Policy Choices in Emerging Market Economies: The Case of High Productivity Growth by RAVENNA, FEDERICO, NATALUCCI, FABIO M.

“…We develop a general equilibrium model of an emerging market economy where productivity growth differentials between tradable and non-tradable sectors result…”
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Openness and optimal monetary policy by Lombardo, Giovanni, Ravenna, Federico

“…We show that the composition of international trade has important implications for the optimal volatility of the exchange rate, above and beyond the size of…”
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Vector autoregressions and reduced form representations of DSGE models by Ravenna, Federico

“…The performance of dynamic stochastic general equilibrium models is often tested against estimated VARs. This requires that the data-generating process…”
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The Impact of Pessimistic Expectations on the Effects of COVID‐19‐Induced Uncertainty in the Euro Area by Pellegrino, Giovanni, Ravenna, Federico, Züllig, Gabriel

“…We estimate a monthly interacted‐VAR model for euro area macroeconomic aggregates allowing for the impact of uncertainty shocks to depend on the state of the…”
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Worker Heterogeneity, Selection, and Unemployment Dynamics in a Pandemic by RAVENNA, FEDERICO, WALSH, CARL E.

“…We employ a new Keynesian model with random search in the labor market and endogenous selection among heterogeneous workers to investigate the impact of a…”
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Optimal monetary policy and model selection in a real-time learning environment by Ravenna, Federico

“…We investigate how real-time parameter learning, optimal policies and the volatility of exogenous shocks affect the policymakers’ ability to distinguish across…”
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Inequality and debt in a model with heterogeneous agents by Ravenna, Federico, Vincent, Nicolas

“…We show that to account for the cross-sectional divergence in debt-to-income ratios in US data a DSGE model must assume a tax reallocation across the top- and…”
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The impact of inflation targeting: Testing the good luck hypothesis by Ravenna, Federico, Mølbak Ingholt, Marcus

“…Starting in the mid‐1980s, the level and volatility of inflation decreased across industrial countries. The inflation stabilization can be explained by a shift…”
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The Cost of Coronavirus Uncertainty: The High Returns to Clear Policy Plans by Pellegrino, Giovanni, Ravenna, Federico, Züllig, Gabriel

“…Policymakers face an extremely uncertain environment during COVID‐19. Using a nonlinear VAR estimate for the Euro Area, we argue that the benefit of reducing…”
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Optimal monetary policy with the cost channel by Ravenna, Federico, Walsh, Carl E.

“…In the standard new Keynesian framework, an optimizing policy maker does not face a trade-off between stabilizing the inflation rate and stabilizing the gap…”
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Welfare-Based Optimal Monetary Policy with Unemployment and Sticky Prices: A Linear-Quadratic Framework by Ravenna, Federico, Walsh, Carl E.

“…We derive a linear-quadratic model that is consistent with sticky prices and search and matching frictions in the labor market. We show that the second-order…”
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Screening and Labor Market Flows in a Model with Heterogeneous Workers by RAVENNA, FEDERICO, WALSH, CARL E.

“…We construct a model in which screening of heterogeneous workers by employers plays a central role in determining both the flows into and out of unemployment…”
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Vacancies, unemployment, and the Phillips curve by Ravenna, Federico, Walsh, Carl E.

“…The canonical new Keynesian Phillips curve has become a standard component of models designed for monetary policy analysis. However, in the basic new Keynesian…”
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Monetary policy and labor market frictions: A tax interpretation by Ravenna, Federico, Walsh, Carl E.

“…Replicating the flexible price allocation in models with nominal rigidities and labor market frictions that lead to an inefficient matching of unemployed…”
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Learning and optimal monetary policy by Dennis, Richard, Ravenna, Federico

“…To conduct policy efficiently, central banks must use available data to infer, or learn, the relevant structural relationships in the economy. However, because…”
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Menu costs at work: restaurant prices and the introduction of the euro by Hobijn, Bart, Ravenna, Federico, Tambalotti, Andrea

“…Restaurant prices in the euro area increased dramatically after the introduction of the euro. We show that this increase can be explained by a common menu cost…”
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Identifying the effects of inflation targeting: A structural approach by Ravenna, Federico

“…This dissertation examines the impact of the inflation targeting monetary policy adopted in Canada in the last decade. Chapter I develops a structural approach…”
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