Alessandro Flamini
University of Pavia
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Publication
Featured researches published by Alessandro Flamini.
Studies in Nonlinear Dynamics and Econometrics | 2011
Alessandro Flamini; Costas Milas
This paper studies optimal real-time monetary policy when the central bank takes the exogenous volatility of the output gap and inflation as proxy of the undistinguishable uncertainty on the exogenous disturbances and the parameters of its model. The paper shows that when the exogenous volatility surrounding a specific state variable increases, the optimal policy response to that variable should increase too, while the optimal response to the remaining state variables should attenuate or be unaffected. In this way the central bank moves preemptively to reduce the risk of large deviations of the economy from the steady state that would deteriorate the distribution forecasts of the output gap and inflation. When an empirical test is carried out on the U.S. economy the model predictions tend to be consistent with the data.
Economia Politica | 2012
Alessandro Flamini
Can the choice of the target inflation index in an open-economy affect the central bank ability to forecast the interest rate path? Adopting a New Keynesian set up where the central bank faces real-world model uncertainty, this paper shows that targeting the domestic price index instead of the consumer price index substantially improves the accuracy in the distribution forecast of the interest rate. The policy implication is that adopting the domestic price index may increase the central banks convenience of publishing the expected interest rate path.
Journal of International Money and Finance | 2007
Alessandro Flamini
Economica | 2011
Cinzia Alcidi; Alessandro Flamini; Andrea Fracasso
Economics Letters | 2011
Alessandro Flamini; Andrea Fracasso
Archive | 2012
Alessandro Flamini; Guido Ascari; Lorenza Rossi
Studies in Nonlinear Dynamics and Econometrics | 2012
Alessandro Flamini
Journal of Financial Stability | 2015
Alessandro Flamini; Costas Milas
Archive | 2012
Guido Ascari; Alessandro Flamini; Lorenza Rossi
Keele Economics Research Papers | 2007
Cinzia Alcidi; Alessandro Flamini; Andrea Fracasso
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Graduate Institute of International and Development Studies
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