Author/Editor: Alessandro Cantelmo, Nikos Fatouros, Giovanni Melina, Chris Papageorgiou.

Release Date:April, 2022

This paper analyzes monetary policy regimes in emerging and developing economies where climate-related natural disasters are major macroeconomic shocks. A narrative analysis of IMF reports published more...

Author/Editor: Nicoletta Batini, Alessandro Cantelmo, Giovanni Melina, Stefania Villa.

Release Date:June, 2020

This paper builds a model-based dynamic monetary and fiscal conditions index (DMFCI) and uses it to examine the evolution of the joint stance of monetary and fiscal policies in the euro area (EA) and more...

Author/Editor: Alessandro Cantelmo, Giovanni Melina, Chris Papageorgiou.

Release Date:October, 2019

Using a dynamic stochastic general equilibrium model, we study the channels through which natural disaster shocks affect macroeconomic outcomes and welfare in disaster-prone countries. We solve the more...

Author/Editor: Alessandro Cantelmo, Leo Bonato, Giovanni Melina, Gonzalo Salinas.

Release Date:March, 2019

Resilience to climate change and natural disasters hinges on two fundamental elements: financial protection —insurance and self-insurance— and structural protection —investment in adaptation. more...

Author/Editor: Alessandro Cantelmo, Giovanni Melina.

Release Date:December, 2017

In a SVAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio more...

Author/Editor: Alessandro Cantelmo, Giovanni Melina.

Release Date:March, 2017

In an estimated two-sector New-Keynesian model with durable and nondurable goods, an inverse relationship between sectoral labor mobility and the optimal weight the central bank should more...