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Photo of Luca Guerrieri

Luca Guerrieri

Deputy Associate Director Program Direction Section Financial Stability
202-452-2550
luca.guerrieri@frb.gov

Education

  • Ph.D., Economics, Stanford University, 2001
  • M.Sc., Economics, London School of Economics, 1996
  • B.Sc., Economics, London School of Economics, 1995
Current Research Topics
  • Monetary policy and macroprudential regulation.
  • Solution and estimation of DSGE models.
  • Economist

    Board of Governors of the Federal Reserve System

    2001 - present
  • Visiting Economist

    Georgetown University

    2018
  • Visiting Economist in Residence

    American University

    2010
  • Visiting Assistant Professor

    Johns Hopkins University

    2007
  • Bodenstein, Martin, Giancarlo Corsetti, and Luca Guerrieri (2020). "The Elusive Gains from Nationally-Oriented Monetary Policy," International Finance Discussion Papers 1271. Board of Governors of the Federal Reserve System (U.S.).
  • Guerrieri, Luca, Dale Henderson, and Jinill Kim (2020). "Interpreting Shocks to the Relative Price of Investment with a Two‐Sector Model," Journal of Applied Econometrics, vol. 35, no. 1, pp. 82-98.
  • Cuba-Borda, Pablo, Luca Guerrieri, Matteo Iacoviello, and Molin Zhong (2019). "Likelihood Evaluation of Models with Occasionally Binding Constraints," Journal of Applied Econometrics, vol. 34, no. 7, pp. 1073-1085.
  • Guerrieri, Luca, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto, and Jae Sim (2019) "Macroeconomic Effects of Banking Sector Losses across Structural Models," International Journal of Central Banking, vol. 15, no. 3, pp. 137-204.
  • Bodenstein, Martin, Luca Guerrieri, and Joe LaBriola (2019). "Macroeconomic Policy Games," Journal of Monetary Economics, vol. 101, pp. 64-81.
  • Bodenstein, Martin, Christopher J. Erceg, and Luca Guerrieri (2017). "The Effects of Foreign Shocks When Interest Rates are at Zero," Canadian Journal of Economics, vol. 50, no. 3, pp. 660-684.
  • Guerrieri, Luca, and Matteo Iacoviello (2017). "Collateral Constraints and Macroeconomic Asymmetries," Journal of Monetary Economics, vol. 90, pp. 28-49.
  • Guerrieri, Luca, Dale W. Henderson, and Jinill Kim (2017). "Investment-Specific and Multi-Factor Productivity in Multi-Sector Open Economies: Data and Analysis," Seoul Journal of Economics, vol. 30, no. 3, pp. 251-289.
  • Guerrieri, Luca, and Matteo Iacoviello (2015). "OccBin: A Toolkit for Solving Dynamic Models with Occasionally Binding Constraints Easily," Journal of Monetary Economics, vol. 70, pp. 22-38.
  • Guerrieri, Luca, Dale Henderson, and Jinill Kim (2014). "Modeling Investment-Sector Efficiency Shocks: When does Disaggregation Matter?" International Economic Review, vol. 55, no. 3, pp. 891-917.
  • Bodenstein, Martin, Luca Guerrieri, and Christopher J. Gust (2013). "Oil Shocks and the Zero Bound on Nominal Interest Rates," Journal of International Money and Finance, vol. 32, no. 1, pp. 941-967.
  • Bodenstein, Martin, Luca Guerrieri, and Lutz Kilian (2012). "Monetary Policy Responses to Oil Price Fluctuations," IMF Economic Review, vol. 64, no. 4, pp. 470-504.
  • Guerrieri, Luca, Matteo Iacoviello, and Raoul Minetti (2012). "Banks, Sovereign Debt and the International Transmission of Business Cycles," in NBER International Seminar on Macroeconomics 2012. University of Chicago Press.
  • Bodenstein, Martin, Christopher J. Erceg, and Luca Guerrieri (2011). "Oil Shocks and External Adjustment," Journal of International Economics, vol. 83, no. 2, pp. 168-184.
  • Erceg, Christopher J., Luca Guerrieri, and Steven B. Kamin (2011). "Did Easy Money in the Dollar Bloc Fuel the the Oil Price Run-Up?" International Journal of Central Banking, vol. 7, no. 1, pp. 131-160.
  • Guerrieri, Luca, Christopher Gust, and David Lopez-Salido (2010). "International Competition and Inflation: A New Keynesian Perspective," American Economic Journal: Macroeconomics, vol. 2, no. 4, pp. 247-280.
  • Bodenstein, Martin, Christopher J. Erceg, and Luca Guerrieri (2008). "Optimal Monetary Policy with Distinct Core and Headline Inflation Rates," Journal of Monetary Economics, Supplement 1, vol. 55, pp. S18-S33.
  • Bastani, Houtan, and Luca Guerrieri (2008). "On the Application of Automatic Differentiation to the Likelihood Function for Dynamic General Equilibrium Models," in Advances in Automatic Differentiation: Lecture Notes in Computational Science and Engineering vol. 64. Berlin: Springer.
  • Erceg, Christopher J., Luca Guerrieri, and Christopher Gust (2008). "Trade Adjustment and the Composition of Trade," Journal of Economic Dynamics and Control, vol. 32, no. 8, pp. 2622-2650.
  • Erceg, Christopher J., Luca Guerrieri, and Christopher Gust (2006). "SIGMA: A New Open Economy Model for Policy Analysis," International Journal of Central Banking, vol. 2, no. 1, pp. 1-50.
  • Guerrieri, Luca (2006). "The Inflation Persistence of Staggered Contracts," Journal of Money, Credit, and Banking, vol. 38, no. 2, pp. 483-494.
  • Erceg, Christopher J., Luca Guerrieri, and Christopher Gust (2005). "Can Long-Run Restrictions Identify Technology Shocks?" Journal of the European Economic Association, vol. 3, no. 6, pp. 1237-1278.
  • Erceg, Christopher J., Luca Guerrieri, and Christopher Gust (2005). "Expansionary Fiscal Shocks and the US Trade Deficit," International Finance, vol. 8, no. 3, pp. 363-397.
Last update: September 14, 2020