Title:Does One Soros Make a Difference? A Theory of Currency Crises with Large and Small Traders Author(s):CORSETTI, Giancarlo; DASGUPTA, Amil; MORRIS, Stephen; SHIN, Hyun SongDate:2004Citation:
- Review of Economic Studies, 2004, 71, 1, 87-113
Title:'Some Contagion, some Interdependence': More Pitfalls in Tests of Financial Contagion Author(s):CORSETTI, Giancarlo; PERICOLI, Marcello; SBRACIA, MassimoDate:2005Citation:
- Journal of International Money and Finance, 2005, 24, 8, 1177-1199
Type:ArticleAbstract:This paper builds on a standard factor model of stock market returns to reconsider recent empirical literature on contagion in financial markets based on bivariate correlation analysis. According to this literature, contagion ...
Title:International Dimensions of Optimal Monetary Policy Author(s):CORSETTI, GiancarloDate:2005Citation:
- Journal of Monetary Economics, 2005, 52, 2, 281-305
Title:Fiscal Imbalances and the Dynamics of Currency Crises Author(s):CORSETTI, Giancarlo; MACKOWIAK, BartoszDate:2006Citation:
- European Economic Review, 2006, 50, 5, 1317-1338
Type:ArticleAbstract:This paper analyzes links between the fiscal theory of the price level (FTPL) and the first generation models after Krugman (Journal of Money Credit and Banking 11 (1979), 311–325), exploring the idea that a synthesis ...
Title:High exchange-rate volatility and low pass-through Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2008Citation:
- Journal of Monetary Economics, 2008, 55, 6, 1113-1128.
Type:ArticleAbstract:Two specifications of an open-economy model are shown to generate high exchange-rate volatility and low exchange-rate pass-through (ERPT). In the model, price discrimination causes ERPT to be incomplete in both the short ...
Title:The extensive margin and monetary policy Author(s):BERGIN, Paul; CORSETTI, GiancarloDate:2008Citation:
- Journal of Monetary Economics, 2008, 55, 7, 1222-1237
Type:ArticleAbstract:The creation of new firms, referred to as the extensive margin, is a significant but overlooked dimension of monetary policy. A monetary VAR documents that monetary policy has significant effects on firm creation. An ...
Title:Twin Deficits, Openness, and the Business Cycle Author(s):CORSETTI, Giancarlo; MÜLLER, Gernot J.Date:2008Citation:
- Journal of the European Economic Association, 2008, Vol. 6, No. 2-3, pp. 404-413
Type:ArticleAbstract:In this article, we study the co-movement of the government budget balance and the trade balance at business-cycle frequencies. In a sample of 10 OECD countries we find that the correlation of the two time series is negative, ...
Title:International Risk Sharing and the Transmission of Productivity Shocks Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2008Citation:
- Review of Economic Studies, 2008, 75, 2, 443-473.
Type:ArticleAbstract:This paper shows that standard international business cycle models can be reconciled with the empirical evidence on the lack of consumption risk sharing. First, we show analytically that with incomplete asset markets ...
Title:A modern reconsideration of the theory of Optimal Currency Areas Author(s):CORSETTI, GiancarloDate:2008Citation:
- European Economy Economic Papers, 2008, No. 308, 1-39
Type:ArticleAbstract:What can be learnt from revisiting the Optimal Currency Areas (OCA) theory 50 years from its birth, in light of recent advances in open economy macro and monetary theory? This paper presents a stylized micro-founded model ...
Title:Cross-Border Spillovers from Fiscal Stimulus Author(s):CORSETTI, Giancarlo; MEIER, André; MÜLLER, Gernot J.Date:2010Citation:
- International Journal of Central Banking, 2010, Vol. 6, No. 1, pp. 5-37
Type:ArticleAbstract:The global recession of 2008–09 has revived interest in the international repercussions of domestic policy choices. This paper focuses on the case of fiscal stimulus, investigating cross-border spillovers from an increase ...