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Federal Reserve System Conference on the Financial Stability Considerations for Monetary Policy libertystreeteconomics.newyorkfed.org/2022/10/federa…

How do monetary policy actions spill over to foreign countries? We show that central bank actions can create tradeoffs for foreign policymakers. federalreserve.gov/econres/notes/… (1/2)

In today's post we analyse the trade-offs that policymakers face in setting interest rates building on R**, the financial (in)stability interest rate concept. libertystreeteconomics.newyorkfed.org/2023/05/financ… #interestrates #monetarypolicy #financialstability Ozge Akinci Marco Del Negro (he, him) Albert Queralto

What is the relationship between interest rates, financial stability, and the macroeconomy? In a three post series with  Ozge Akinci Gianluca Benigno Ethan Nourbash and Albert Queralto  we look into this arguably timely question #interestrates #monetarypolicy #financialstability

As financial stability considerations become more important, using r** as a policy tool could play a key role in measuring financial stress throughout the macroeconomy. mercatus.org/macro-musings/…

Podcast with David Beckworth on the Basics and Policy Functionality of R** and the Dollar’s Imperial Circle | Mercatus Center #financialstability #dollar #SupplyChain Jon Turek Ozge Akinci Marco Del Negro (he, him) Albert Queralto mercatus.org/macro-musings/…

Delighted to have Gianluca Benigno on the show to discuss financial stability R**, liquidity in a NK model, the exorbitant duty of the U.S. financial system, the dollar's imperial circle, the global supply chain pressures index, and more! (1/5) directory.libsyn.com/episode/index/…

Gianluca Benigno (Gianluca Benigno) on the basics of r** and its policy functionality: mercatus.org/macro-musings/…

Periods of increased global risk aversion characterized by sharp increases in credit spreads, high volatility in equity markets, and appreciation of reserve currencies, also have persistent effects on economic activity and inflation worldwide. federalreserve.gov/econres/notes/… (1/2)

🚨Please check out our recent work with Albert Queralto and M. Bodenstein, where we quantify the macroeconomic effects of global risk episodes and highlight the significance of differentiated demand for safe assets as a transmission mechanism in open economies. Comments welcome!

Monetary contractions depress innovation and future productivity, as predicted by Keynesian growth framework. Really interesting presentation by Yueran Ma at #JacksonHole2023.

#ICYMI: Global flight-to-safety shocks are the most important shocks driving world GDP growth in an estimated DSGE model: federalreserve.gov/econres/ifdp/g… #IFDPPapers

Growing interest on the supply side effects of monetary policy.

New #IFDPPaper: We use a macroeconomic model to estimate the effects on emerging markets of the 2022-23 U.S. monetary tightening and compare the model-predicted effects against actual outcomes. federalreserve.gov/econres/ifdp/u… #EconTwitter

I am looking forward to presenting the R** concept (Ozge Akinci, Marco Del Negro (he, him), Albert Queralto ) at the XXVII Annual Conference of the Banco Central de Chile Central Bank of Chile entitled “Medium- and Long-Run Trends in Interest Rates: Causes and Implications for Monetary

Happy to be in San Francisco 🌉 and looking forward to presenting a joint paper with Albert Queralto, Ricardo Reyes-Heroles and Mikaël Scaramucci, in the "Inflation" session on Sat, 4 at 8 am. Join us if you are around. #ASSA. Thanks to Jean-Paul L'Huillier for organizing the session.

How do changes in trade costs affect inflation dynamics? Interesting new paper by Pablo Cuba Borda, Ricardo Reyes-Heroles, Scaramucci, and Albert Queralto ➡️Contrast effect on inflation dynamics of higher trade costs on final goods vs. intermediate inputs

Just posted! A note related to recent work with Pablo Cuba Borda, Albert Queralto, and Mikael Scaramucci. -> Magnitude and dynamics of positive inflationary effects induced by trade disruptions depend crucially on the type of trade disrupted---trade in final or intermediate goods.

Using a multi-country New Keynesian model with trade in final goods and intermediate inputs, the authors estimate that a 10 p.p. increase in U.S. bilateral trade costs leads to about a 1 p.p. increase in U.S. inflation. (2/3) federalreserve.gov/econres/ifdp/t… #IFDPPaper