Browsing ECO Articles by Author "CORSETTI, Giancarlo"

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Browsing ECO Articles by Author "CORSETTI, Giancarlo"

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    Title: Cross-Border Spillovers from Fiscal Stimulus  Author(s): CORSETTI, Giancarlo; MEIER, André; MÜLLER, Gernot J. Date: 2010 Type of Publication: Article Abstract: 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 ...
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    Title: Twin Deficits, Openness, and the Business Cycle  Author(s): CORSETTI, Giancarlo; MÜLLER, Gernot J. Date: 2008 Type of Publication: Article Abstract: 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, ...
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    Title: High exchange-rate volatility and low pass-through  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2008 Type of Publication: Article Abstract: 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 ...
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    Title: The extensive margin and monetary policy  Author(s): BERGIN, Paul; CORSETTI, Giancarlo Date: 2008 Type of Publication: Article Abstract: 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 ...
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    Title: Proceedings of the twenty second annual congress of the European Economic Association, Budapest, August 2007  Author(s): TABELLINI, Guido; GUISO, Luigi; SAPIENZA, Paolo; ZINGALES, Luigi; BENABOU, Roland; ACEMOGLU, Daron; GOLOSOV, Mikhail; TSYVINSKI, Aleh; BATTAGLINI, Marco; COATE, Stephen; AZZIMONTI, Marina; DE FRANCISCO, Eva; KRUSELL, Per; BEESTMA, Roel; MONACELLI, Tommaso; PEROTTI, Roberto; CORSETTI, Giancarlo; MÜLLER, Gernot J.; BEETSMA, Roel; GIULIODORI, Massimo; KLAASSEN, Franc; BISIN, Alberto; CONSTANT, Amelie F.; ZIMMERMANN, Klaus F.; ASPACHS-BRACONS, Oriol; CLOTS-FIGUERAS, Irma; COSTA-FONT, Joan; MASELLA, Paolo; BISIN, Alberto; PATACCHINI, Eleonora; VERDIER, Thierry; ZENOU, Yves; DESSEIN, Wouter; ALONSO, Ricardo; DESSEIN, Wouter; MATOUSCHEK, Niko; HARSTAD, Bård; SWANK, Job; SWANK, Otto H.; VISSER, Bauke; KARLAN, Dean; BANERJEE, Abhijit V.; DUFLO, Esther; GLENNERSTER, Rachel; FIELD, Erica; PANDE, Rohini; KARLAN, Dean; ZINMAN, Jonathan; MARTIN, Philippe; BESLEY, Timothy; PERSSON, Torsten; COLLIER, Paul; ROHNER, Dominic; MARTIN, Philippe; MAYER, Thierry; THOENIG, Mathias; MORRIS, Stephen E.; BERGEMANN, Dirk; MORRIS, Stephen; BERGEMANN, Dirk; SCHLAG, Karl H.; COPIC, Jernej; PONSATí, Clara; REBELO, Sergio; BURNSIDE, Craig; EICHENBAUM, Martin; REBELO, Sergio; CHABOUD, Alain P.; CHERNENKO, Sergey V.; WRIGHT, Jonathan H.; KOCHERLAKOTA, Narayana; PISTAFERRI, Luigi; REICHLIN, Lucrezia; D'AGOSTINO, Antonello; WHELAN, Karl; GIANNONE, Domenico; LENZA, Michele; REICHLIN, Lucrezia; BENATI, Luca; SURICO, Paolo; RUSTICHINI, Aldo; RUSTICHINI, Aldo; VENTURA, Jaume; DRELICHMAN, Mauricio; VOTH, Hans-Joachim; YEYATI, Eduardo Levy; SCHMUKLER, Sergio L.; VAN HOREN, Neeltje; BRONER, Fernando A.; MARTIN, Alberto; VENTURA, Jaume; KRUEGER, Dirk; ABRAHAM, Arpad; RIOS-RULL, José-Victor; SANCHEZ-MARCOS, Virginia; KRUEGER, Dirk; LUSTIG, Hanno; PERRI, Fabrizio Date: 2008 Type of Publication: Article
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    Title: A modern reconsideration of the theory of Optimal Currency Areas  Author(s): CORSETTI, Giancarlo Date: 2008 Type of Publication: Article Abstract: 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 ...
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    Title: International Risk Sharing and the Transmission of Productivity Shocks  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2008 Type of Publication: Article Abstract: 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 ...
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    Title: Fiscal Imbalances and the Dynamics of Currency Crises  Author(s): CORSETTI, Giancarlo; MACKOWIAK, Bartosz Date: 2006 Type of Publication: Article Abstract: 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 ...
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    Title: International Lending of Last Resort and Moral Hazard: A Model of IMF’s Catalytic Finance  Author(s): CORSETTI, Giancarlo; GUIMARAES, Bernardo; ROUBINI, Nouriel Date: 2006 Type of Publication: Article Abstract: This paper analyzes the trade-off between official liquidity provision and debtor moral hazard in international financial crises. In the model, crises are caused by the interaction of bad fundamentals, self-fulfilling runs ...
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    Title: Twin Deficit: Squaring Theory, Evidence and Common Sense  Author(s): CORSETTI, Giancarlo; MÜLLER, Gernot J. Date: 2006 Type of Publication: Article Abstract: Simple accounting suggests that shocks to the government budget move the current account in the same direction, and this `twin deficits' intuition leads many observers to call for fiscal consolidation in the US as a necessary ...
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    Title: Openness and the Case for Flexible Exchange Rates  Author(s): CORSETTI, Giancarlo Date: 2006 Type of Publication: Article Abstract: Models of stabilization in open economy traditionally emphasize the role of exchange rates as a substitute for nominal price flexibility in fostering relative price adjustment. This view has been recently criticized on the ...
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    Title: 'Some Contagion, some Interdependence': More Pitfalls in Tests of Financial Contagion  Author(s): CORSETTI, Giancarlo; PERICOLI, Marcello; SBRACIA, Massimo Date: 2005 Type of Publication: Article Abstract: 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 ...
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    Title: International Dimensions of Optimal Monetary Policy  Author(s): CORSETTI, Giancarlo Date: 2005 Type of Publication: Article
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    Title: International Dimensions of Optimal Monetary Policy  Author(s): CORSETTI, Giancarlo; PESENTI, Paolo Date: 2005 Type of Publication: Article Abstract: This paper provides a baseline general equilibrium model of optimal monetary policy among interdependent economies with monopolistic firms and nominal rigidities. An inward-looking policy of domestic price stabilization ...
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    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 Song Date: 2004 Type of Publication: Article