On my way back from the NBER Summer Institute, where I had the pleasure to present my work with Anton Nakov on Business Cycles with Pricing Cascades

Many thanks to the organisers for including the paper!

Video 🔗: shorturl.at/amCAj

On my way to Copenhagen for the Society for Economic Dynamics (SED) Annual Meeting!

Look forward to presenting at 9:00am on Friday, July 27th in an exciting session on Inflation Dynamics with Networks and Firm Heterogeneity, w/ Vincent Sterk and Simone Lenzu.

Excited to be in Split, Croatia for the 2025 NBER ISoM!

Great program complementing an equally fascinating location.

🔗 www.nber.org/conferences/...

🌟NEW PAPER🌟

Forward-looking inflation is central to monetary economics

A micro building block of such foresight is Intertemporal Pass-Through (iPT): the sensitivity of firms' *current* reset prices to *expected* marginal costs

We estimate iPT and find it consistent with sticky-price models

Great two days at the BSE Summer Forum Worksop on “Networks and Firm Heterogeneity in Macro and Trade”, which we organised with Alessandro Ferrari

Many thanks to all the participants for the great presentations!

At the same time, interaction of networks with demand shocks produces a realistically flat Phillips Curve!

Unlike in standard models, substantial money non-neutrality and strong inflationary episodes co-exist WITHOUT the reduced-form markup shocks.

Comments welcome!

Interaction of pricing cascades with supply shocks is key for explaining the observed patterns in the post-Covid era!

Feeding in the observed shocks to energy and food prices (only TWO sectors) explains AGGREGATE inflation and adjustment frequency in the Euro Area

🌟NEW PAPER w/ Anton Nakov

Recent episodes have taught us a lot about inflation:
1⃣Surges can be large even in adv. economies
2⃣Adjustment freq.⬆️ is a key micro channel
3⃣Sectoral shocks can drive aggregates

Need a new model to analyze such patterns!

🔗shorturl.at/CySIs

“Let Americas and Russias be silent, when I am talking to you!”

🌐Are you researching firms or networks in macro or trade?

🎯Then submit your paper to our BSE Summer Forum Workshop (w/ @aferrari.bsky.social)!

✨Keynotes: Pol Antràs, Jennifer La'O

⏰Deadline: Feb 28

Funded by @cienciagob.bsky.social @snsf-ch.bsky.social

events.bse.eu/live/files/5...

Strength. Pride. Glory.

USYK 🇺🇦💪🏼

Team #Ukraine at the SED in Buenos Aires!

Thanks Fabio Ghironi for all his consistent 🇺🇦 support

Scholz calls Putin

Putin’s response:

Look forward to presenting my work with Alessandro Ferrari at #SED2024!

If you are in Barcelona, join us for the great session on Inflation Dynamics, featuring presentations by Gianluca Violante and Corina Boar, at 11am on Thursday June 27th.

Honoured to have delivered a plenary talk at the CEPR European Summer Symposium in International Macroeconomics (ESSIM), hosted by Banque de France.

Many thanks to the organisers for such a fantastic opportunity.

“Everything that exists in this world was once someone’s dream”.

“Cinema forms memories, and memories form history”

Barcelona today 🇺🇦🔱💪🏼

russians are terrorists

Western military industrial complex, as well as the skill of our armed forces, is what keeps Ukraine and Ukrainians alive