Welcome to the homepage of

Massimiliano Pisani

 

massimiliano.pisani@bancaditalia.it or massimiliano.pisani@gmail.com

 

CV

 

 

Papers by topics

 

On global imbalances and international financial integration

 

 

·      Macroeconomic Effects of China's Fiscal Stimulus (with Pietro Cova and Alessandro Rebucci), in Cheung, Y. and Ma, G. (eds). Asia and China in the Global Economy. See also IDB Working Paper 211, September 2010

 

 

·      Global Imbalances: The Role of Emerging Asia (with Pietro Cova and Alessandro Rebucci), Review of International Economics, Vol. 17, No. 4, September 2009. See also IMF Working Paper 09/64, March

 

 

·      Global Imbalances: The Role of the Non-tradable TFP in Advanced Economies (with Nicoletta Batini, Pietro Cova and Alessandro Rebucci), IMF Staff Papers, Vol. 55, No. 2, June 2008. See also  IMF Working Paper 09/63, March

 

 

·      House prices, Consumption and Trade Balance in the US

 

 

·      Financial Openness and Macroeconomic Instability in Emerging Market Economies, Open Economies Review, vol. 22(3), pages 501-532, July

 

 

On real exchange rate dynamics

 

 

·      News Shocks and Asset Price Volatility in General Equilibrium (with Akito Matsumoto, Pietro Cova and Alessandro Rebucci), Journal of Economic Dynamics and Control, vol. 35(12), pages 2132-2149. See also News Shocks, Exchange Rates, and Equity Prices, IMF Working Paper 08/284, December

 

 

·      Nominal Rigidities, Distribution Costs and the Dynamics of the Real Exchange Rate: a Bayesian DSGE Approach (with Riccardo Cristadoro, Andrea Gerali and Stefano Neri), Temi di discussione (Economic Working Papers) 660, Bank of Italy, Economic Research Department, April 2008

 

 

On European Union

 

 

·      “Green” fuel tax on private transportation services and subsidies to electric energy. A model-based assessment for the main European countries (with Anna Bartocci), Energy Economics, September 2013

 

 

·      Macroeconomic Effects of Sovereign Restructuring in a Monetary Union: a Model-based Approach, with L. Forni, IMF WP/13/269

 

 

·      Fiscal Multipliers, Monetary Policy and Sovereign Risk: A Structural Model-Based Assessment (with Alberto Locarno and Alessandro Notarpietro). In The Sovereign Debt Crisis and the Euro Area, Conference Proceedings, Banca d’Italia, 2013. See also: Temi di discussione (Economic working papers) 943, Bank of Italy, Economic Research and International Relations Area. Forthcoming in L. Paganetto (ed.) The Long Term Policy View Shifting Wealth, Income Inequalities and Demography

 

 

·      Competitiveness and external imbalances within the euro area (A team of the Working Group on Econometric Modelling of the European System of Central Banks) Occasional Paper Series 139, European Central Bank, December 2012

 

 

·      Competition in the services sector and macroeconomic performance in the European countries: The case of Italy (with Andrea Gerali and Lorenzo Forni),  voxeu, April 2012

 

 

·      Comments on “Current Account Imbalances in the Southern Euro area: Causes, Consequences and Remedies”, by F. Jaumotte and P.  Sodsriwiboon, in Codogno, L. and Paganetto, L. (eds.) Measuring Italy's external competitiveness, September 2011

 

 

·      Structural Reforms and Macroeconomic Performance in the Euro Area Countries: a Model-based Assessment (with Sandra Gomes, Pascal Jacquinot and Matthias Mohr). International Finance, vol. 16(1), pages 23-44, 02. See also ECB Working Paper no. 1323, April 2011

 

 

·      Potential output in DSGE models (with Igor Vetlov, Tibor Hlédik, Tibor, Magnus Jonsson and Henrik Kucsera) Working Paper Series 1351, European Central Bank. See also Bank of Lithuania Working Paper Series 9, 2011

 

 

·      The EAGLE: A Model for Policy Analysis of Macroeconomic Interdependence in the Euro Area (with Pascal Jacquinot and Sandra Gomes), Economic Modelling, vol. 29(5), pages 1686-1714. See also ECB Working Paper no. 1195, May 2010

 

 

·      The Macroeconomics of Fiscal Consolidation in Euro Area Countries (with Lorenzo Forni and Andrea Gerali), Journal of Economic Dynamics and Control, vol.34(9), September 2010. See also Temi di discussione (Economic Working Papers) 747, Bank of Italy, Economic Research Department March 2010.

 

 

·      Macroeconomic Effects of Greater Competition in the Service Sector: the Case of Italy (with Lorenzo Forni and Andrea Gerali), Macroeconomic Dynamics, vol. 14(05), November 2010. See also Temi di discussione (Economic Working Papers) 706, Bank of Italy, Economic Research Department March 2009

 

 

·      Exchange Rate Arrangements in EU Accession Countries: Which are the Options? (with Ellen E. Meade and Nikolas Muller-Plantenberg), Center for Economic Performance Occasional Paper 17, November 2002

 

 

On oil prices

 

 

 

 

·      Euro area and global oil shocks: an empirical model-based analysis (with Lorenzo Forni, Andrea Gerali and Alessandro Notarpietro), Temi di discussione (Economic Working Papers) 873, Bank of Italy, Economic Research and International Relations Area, 2012. Under revision for Journal of Macroeconomics

 

 

·      Risk-Adjusted Forecasts of Oil Prices, (with Patrizio Pagano), The B.E. Journal of Macroeconomics: Vol. 9: Iss. 1 (Topics), Article 24, 2009. See also. Temi di discussione (Economic Working Papers) 585, Bank of Italy, Economic Research Department May 2006, and ECB Working Paper no. 999, January 2009

 

 

 

 


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