Staff working paper 2020 fabio ghironi, galip kemal ozhan we study a novel policy toolinterest rate uncertaintythat can be used to discourage inefficient capital inflows and to adjust the composition of external account between shortterm securities and foreign direct investment fdi. Fabio ghironi department of economics university of washington. Macroeconomics, american economic association, vol. Monopoly power and endogenous variety in dynamic stochastic general equilibrium. Department of economics university of washington savery hall, box 353330 seattle, wa 98195 u. Ghironi is a professor of economics who studies monetary economics and international macroeconomics which, in keeping with its name, looks at the performance of.
This paper provides a novel theory of the international business cycle grounded on firms entry and sticky prices. Fabio ghironi, jaewoo lee, and alessandro rebucci 2015. The valuation channel of external adjustment, 2006 meeting papers 195, society for economic dynamics. She wrote essays on housing market and current account imbalances advised by profs. The quarterly journal of economics 120 3, 865915, 2005. Staggered prices in a utility maximizing framework, journal of monetary economics 12. Fabio ghironi professor, department of economics office. Fabio ghironi and leading economists strategize tpp pitch. Fabio ghironi interviewed by tim phillips, 05 july 2019 are italys populist policies of minibots and flat taxes the right medicine for its economic sickness. Glaser endowed professorship in economics at the university of washington. Accounting for global dispersion of current accounts, joint with yongsung chang and sunbin kim, 2009. Recent books earlier books by decade browse books by series. Fabio pietro ghironi, talan iscan and alessandro rebucci university of washington, dalhousie university department of economics and johns hopkins university carey business school downloads 2 702,020.
Thank you to fabio for organizing this i was grateful for the opportunity. The office of student services has released enrollment highlights for the fall, 2014 semester which show that there are 986 undergraduate students in the college of arts and sciences economics major and 183 undergraduate students pursuing the carroll school of management economics concentration. Estimates from countrylevel and panel vars show that protectionism acts as a supply shock, causing output to fall and inflation to rise in the short run. Could a tax on stock trades pay off the nations student debt. Melitzx harvard university, princeton university, cepr, and nber june 12, 2006 preliminary comments welcome abstract. Fabio ghironi national bureau of economic research. Fabio ghironi, american economics professor, researcher. Market deregulation and optimal monetary policy in a monetary. Florin bilbiie, fabio ghironi, marc melitz september 2016 structural reform and deregulation are often promoted as ways to lower barriers to market entry. Dec 04, 2017 meanwhile, the london school of economics ricardo reis offered a very reasonable defense of modern macroeconomics, while the university of washingtons fabio ghironi argued that dsge is.
Thoughts on macroeconomics by uws fabio ghironi among. Department of economics university of washington savery hall, box 353330. The content can be very hard to follow during lecture, especially when he comes in to solely explain a model. Princeton professor nobuhiro kiyotaki has been awarded an honorary degree of doctor of science from the university of edinburgh for his significant contribution to current research more college fed challenge team earns second place at districts gallery. Fabio ghironi department of economics university of. Feb 26, 2018 general introduction to economics fabio sdogati polimi openknowledge. International macroeconomics macroeconomics monetary economics. European monetary unification and international monetary cooperation, center for international and development economics research, working paper series qt10d518tg, center for international and development economics research, institute for business and economic research, uc berkeley. Market reforms in the time of imbalance with matteo cacciatore, romain duval, giuseppe fiori. Macroeconomics department of economics university of.
Thoughts on macroeconomics by uws fabio ghironi among bloomberg columnists mustreads of 2017. You can choose the papers on which to write your reports among those listed in the web page on macroeconomic policy in closed and open economies that are highlighted by writing the name of the authors in green. Meanwhile, the london school of economics ricardo reis offered a very reasonable defense of modern macroeconomics, while the university of washingtons fabio ghironi argued that. I am an applied theorist, mostly specializing in the development of models for analysis of economic fluctuations and policy questions. Protectionism and the business cycle vox, cepr policy portal. Rose studies labor economics, development economics and applied microeconomics. Fabio ghironi, boston college department of economics. Ghironi, f and m j melitz 2005, international trade and macroeconomic dynamics with heterogeneous firms, the quarterly journal of economics 120.
Fabio ghironi department of economics university of washington savery hall, box 353330 seattle, wa 98195. Jan 18, 2018 ft business book of the year a lockdown reading list. Trade economics should move past the fiction of steady state and balanced trade when studying the effects of trade integration. About bis the biss mission is to serve central banks in their pursuit of monetary and financial stability, to foster international cooperation in those areas and to act as a bank for central banks. The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic performance. Journal of international money and finance, 57, 86114. General introduction to economics fabio sdogati youtube. Protectionism and the business cycle, with alessandro barattieri and matteo cacciatore, first draft. Economic fluctuations and growth program, international finance and macroeconomics program, international trade and investment program, monetary economics program an emerging consensus on the future of macroeconomics views the incorporation of a role for financial. The book first introduces the building blocks of macroeconomics, the heart of which is the representative consumer. In a sevendecade teaching career and in many books and articles, douglass north, a former uw economics professor, became known for challenging traditional marketbased methods.
They are listed with their thesis topics and advisors. In the approximate order in which we will cover them. Glaser professor of economics, university of washington an engaging and wideranging introduction to modern macroeconomics, highlighted by an accessible treatment of optimal monetary and fiscal policy. Trade supporters are pushing the geopolitical importance of a sweeping asiapacific agreement in an effort to save the deal from defeat. Equitable growth supports research and policy analysis on how trends in economic inequality and mobility and changes in the economy have affected the concentration of wealth, income, and earnings, and how these distributional shifts have affected the promise of economic security and opportunity.
Demand composition and the trade collapse of 200809, nber working papers 17712, national bureau of economic research, inc. You must choose papers from four different sections of the reading list in that page. Understanding the great trade collapse of 2009 vox, cepr. Fabio ghironi warns that the even the changes that most of his colleagues endorse. Bilbiie, ippei fujimara, and fabio ghironi, optimal monetary policy with endogenous entry and product variety, journal of monetary economics.
Macroeconomic interdependence under incomplete markets. Rose studies labor economics, development economics and applied. I am also a research associate in the international finance and macroeconomics program of the national bureau of economic research, a research fellow in the international macroeconomics and finance programme of the centre for economic policy research, and a fellow of the euro area business cycle network. International trade and macroeconomic dynamics with. International trade and macroeconomic dynamics with heterogeneous firms. The latest additions to the departments roster of ph. This paper addresses the consequences of increased flexibility in goods and labor markets for the conduct of monetary policy in a monetary union.
A textbook that approaches modern macroeconomics through its microeconomic foundations, with an emphasis on financial market connections and policy applications. The case of canada, boston college economics department wp 466. Galip kemal ozhan is a senior economist at the bank of canada. Working papers monopoly power and endogenous variety in dynamic stochastic general equilibrium. Target zones and exchange rate dynamics, quarterly journal of economics 106. Inflation targeting and economic reforms in new zealand. Glaser professor of economics, university of washington. Market deregulation and optimal monetary policy in a monetary union, joint with giuseppe fiori and fabio ghironi, journal of international economics, 99 march 2016. The valuation channel of external adjustment, boston college working papers in economics 722, boston college department of economics. Debate surrounding the transpacific partnership tpp is raging. Firms entry, monetary policy and the international. Recent news from the department of economics economics major largest for the second year.
I had a great time, and there was a lot of enthusiastic engagement from the audience throughout the day. Macmillan education, pearson education, and cengage learning event locationpresenterpaper. Italy is a very sick patient vox, cepr policy portal. Giuseppe and ghironi, fabio pietro, market reforms in the time of imbalance april 2016. Department of economics, university of washington, more information at edirc access statistics for papers by fabio ghironi. Judith thornton professor, department of economics office. Economic fluctuations and growth, international finance and macroeconomics, international trade and investment we develop a stochastic, general equilibrium, twocountry model of trade and macroeconomic dynamics. Economic fluctuations and growth this paper builds a framework for the analysis of macroeconomic fluctuations that incorporates the endogenous determination of the number of producers over the business cycle. Fabio is a great professor who care about his students.
Reverse chronological order, by date of first draft. Fabio ghironi, professor of economics at the uw, is quoted. King, professor of economics, boston university about this title may belong to another edition of this. Four books provide extensive surveys of several topics we will discuss. A political guide for economists, journal of economic perspectives 27. Related earlier version in nber working paper 12937, 2007. Professor fabio ghironi s work has been recognized on bloomberg columnists must read list of 2017.
Distortions and remedies joint with fabio ghironi and florin bilbiie, nber working. Boston college, federal reserve bank of boston, and national bureau of economic research. An engaging and wideranging introduction to modern macroeconomics, highlighted by an accessible treatment of optimal monetary and fiscal policy. It shows that under simple monetary rules procyclical entry can generate fluctuations in consumption, output and investment as large as those observed in the data while at the same time providing positive international comovements and highly volatile terms of trade. International trade in open economy macroeconomics, october 2017. Statedependent pricing and the dynamics of money and output, quarterly journal of economics 106. Fabio ghironi tells tim phillips that, if italy doesnt attempt fundamental structural reforms, it may be on the path to eurexit. More economics stories college of arts and sciences. The wobbly foundations of macroeconomics financial times. It goes on to offer a brief history of macroeconomic thought, including supplyside economics, the phillips curve, and the new keynesian framework.
Professor fabio ghironi appointed director of international. Jones larry karp keith maskus wolfgang mayer devashish mitra j. Monopoly power and endogenous variety in dynamic stochastic. Endogenous entry, product variety, and business cycles. International trade and macroeconomic dynamics with heterogeneous firms fabio ghironi, marc j. Goldberg, p and n pavcnik 2016, the effects of trade policy, prepared for the handbook of commercial policy, edited by k bagwell and r staiger 2016. Oct 06, 2018 yesterday, i participated in the outside the box workshop at the university of washington economics department organized by fabio ghironi meeting agenda below. Oil price elasticities and oil price fluctuations, journal of monetary economics, volume 103, may 2019, pages 120.
Alessandro barattieri, essays in international economics and macroeconomics james anderson, susanto basu, fabio ghironi. How and why economics forgot keynes warnings on panics ft alphaville in a new paper hattip to the university of washingtons fabio ghironi for drawing our attention to it, nobel prize winning economist george akerlof does a brilliant job. The valuation channel of external adjustment, joint with fabio ghironi and alessandro rebucci, 2009. Ghironi, fabio 2000, alternative monetary rules for a small open economy. The modern study and analysis of macroeconomics begins by considering how microeconomic unitsconsumers and firmsmake decisions, and then investigates how these choices interact. Professor fabio ghironi was invited to participate in two roundtable discussions at the white house, in may and again in october, to discuss the transpacific partnership tpp treaty that president obamas administration hoped to have ratified by congress prior to the end of obamas term. Some evidence on the importance of sticky wages, boston college working papers in economics 740, boston college department of economics. Endogenous entry, product variety, and business cycles florin bilbiie, fabio ghironi, marc j. Caldara, dario, michele cavallo, and matteo iacoviello forthcoming. The valuation channel of external adjustment, nber working papers 12937, national bureau of economic research, inc.
Ghironi is a professor of economics who studies monetary economics and international macroeconomics which, in keeping with its name, looks at the performance of economies as a. Editorial council kym anderson, university of adelaide. Maria teresa punzi, a native of italy, defended her dissertation on july 27. College fed challenge team earns second place at districts. My main fields of research are international macroeconomics, macroeconomics, and monetary economics. Glaser professor of economics fabio ghironi has been appointed director of the newlyestablished international trade and macroeconomics itm research program at the central bank research association cebra, an institution connecting researchers at central banks and international institutions. Florin bilbiie professor of economics, university of lausanne and cepr verified email at unil. The economics department main office has moved online and staff will be teleworking starting on march 16, 2020. Sep, 2016 the efficiency of entry, monopoly, and market deregulation florin bilbiie, fabio ghironi, marc melitz september 2016 the dixitstiglitz model provides an important benchmark given specific preferences, there is a constrainedoptimal amount of producer entry and product variety. Member of society economic dynamics, econometric society, european economic association, american economic association. We study the consequences of protectionism for macroeconomic fluctuations. Econpapers faq archive maintainers faq cookies at econpapers.
Matteo cacciatore, fabio ghironi, and stephen turnovsky. Jones, university of rochester larry karp, ucberkeley keith maskus, university of colorado wolfgang mayer, university of cincinnati devashish mitra, syracuse university j. Welcome to the department of economics at princeton university. Bloomberg news columnist noah smith has listed a paper by university of washington economist fabio ghironi as among mustread papers and books on economics in the year 2017. Professor fabio ghironi addresses policy questions related to the prevalence of global value chains. Isabella blengini, essays in international economics fabio. The best books and research on economics in 2017 bloomberg. Peter neary, oxford university kazuo nishimura, kyoto university robert owen, university of nantes. May 04, 2016 market reforms in the time of imbalance.
Fabio ghironi, boston college elhanan helpman, tel aviv university ronald w. Effects on welfare and business cycles, prepared for the november 2001 carnegierochester conference on public policy. Florian englmaier university of munich a field experiment on leadership and team performance in nonroutine analytical team tasksjoint with stefan grimm, dominik grothe, david schindler and simeon schudy. The repec blog the repec plagiarism page details about fabio ghironi. International journal of central banking 11 2015, 145198. While i had been working on it since the summer of 2017, a message from fabio ghironi at the uw econ department prompted me to finish it over the holiday break. Demand composition and the trade collapse of 20082009, american economic journal. The domestic and international effects of interstate u.
Bloomberg news columnist noah smith has listed a paper by uw economist fabio ghironi as among mustread papers and books on economics in the year 2017. That eventually lead to my participation in the outside the box economics workshop fabio organized in october. Research institute of industrial economics sweden ignatius horstmann, university of toronto david hummels, purdue. Comment on international portfolios with supply, demand and redistributive shocks. A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. Bilbiie, ippei fujimara, and fabio ghironi, optimal monetary policy with endogenous entry and product variety, journal of monetary economics 64 2014, 120. Professor ghironi obtained a laurea in economic and social sciences from. First, using highfrequency trade policy data, we present fresh evidence on the dynamic effects of temporary trade barriers. The dixitstiglitz model provides an important benchmark given specific preferences, there is a constrainedoptimal amount of producer entry and product variety. Market reforms in the time of imbalance by matteo cacciatore. The efficiency of entry, monopoly, and market deregulation. The federal reserve board of governors in washington dc. Currency areas, international monetary regimes, and the employmentinflation tradeoff, journal of international economics 45.766 907 610 494 16 1390 561 245 1227 659 1129 288 23 1179 558 1299 586 1341 1289 196 28 668 756 253 1117 731 1059 1193 870 196 97 1107 455 782 24 512 1378 249 1232 834