A focus on the Euro area, the economic and monetary union, and the current EU financial challenges
Chair holder, advisory board, fellows, visitors, staff, and contacts.
Articles, working papers, and books.
Selected keynotes and speeches, and audiovisuals.
This report examines the implications of the Covid-19 pandemic and the war in Ukraine for the international economic and financial order.
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9 January 2024
Robert Schuman Centre for Advanced Studies
28 September 2023
11 September 2023
Understanding macroeconomic changes
We produce research in macroeconomic theory, policy, and institutional design that contributes to the European Monetary Union policy debate
In the wake of Brexit and Trump trade war, central banks face the need to reconsider the role of monetary policy in managing the inflationary-recessionary effects of hikes in tariffs. Using a New...
Giancarlo Corsetti, Paul Bergin 2023 (forthcoming)
The Macroeconomic Stabilization of Tariff Shocks: What is the Optimal Monetary Response?
Monetary policy shocks impact economy with variable short and long lags. Consumption reacts fast but fluctuates, sales drop deeper, and employment falls consistently. Low-frequency data hides short...
Gergely Buda, Vasco M. Carvalho, Giancarlo Corsetti, et al. 2023
Short and variable lags
How should monetary policy respond to capital inflows that appreciate the currency, widen the current account deficit and cause domestic overheating? Using the workhorse open-macro monetary model,...
Giancarlo Corsetti, Luca Dedola, Sylvain Leduc 2023 (forthcoming)
Exchange Rate Misalignment and External Imbalances: What is the Optimal Monetary Policy Response?
The fifth report in The Future of Banking series, part of the Banking Initiative from the IESE Business School, examines the implications of the Covid-19 pandemic and the war in Ukraine for the...
Jeromin Zettelmeyer, Barry Eichengreen, Xavier Vives, Giancarlo Corsetti 2023
The International Economic and Financial Order After the Pandemic and War
Lessons from Financial Assistance to Greece
Rethinking the Welfare State: Lecture by Prof. Nezih Guner
Policy debate on social security reforms in Europe, with an emphasis on Spain