Luca Dedola


External Adviser
Research
Fields of interests: International Finance and Open Economy Macroeconomics, Monetary Economics
luca.dedola@ecb.int

Professional Experience
Research Adviser,  Danmarks Nationalbank, 2018-
Adviser, Monetary Policy Research Division, European Central Bank, 2011-2017
Visiting Scholar, Department of Economics, Northwestern University, 2012
Principal Economist, Monetary Policy Research Division, European Central Bank, 2006-2011
Senior Economist, Monetary Policy Research Division, European Central Bank, 2003-2006
Visiting Scholar, Department of Economics, University of Pennsylvania, 2002-2003
​Senior Economist, Monetary Analysis Unit, Research Department, Bank of Italy, 1997-2003
Visiting Professor of Economics, University of Sassari, 1997-1999

Refereed Publications
'If the Fed sneezes, who catches a cold?' with Giulia Rivolta and Livio Stracca, Journal of International Economics, 108S1 (2017), 23-45

'The mystery of the printing press: Monetary Policy and Self-fulfilling Debt Crises' with Giancarlo Corsetti, Journal of European Economic Association 14 (2016), 1329-1371

'The International Dimension of Productivity and Demand Shocks in the US Economy' with Giancarlo Corsetti and Sylvian Leduc, Journal of European Economic Association 12 (2014), 153-176

'Global implications of self-oriented national unconventional policies' with Peter Karadi and Giovanni Lombardo, Journal of Monetary Economics 60 (2013), 66-85

'Financial frictions, financial integration and the international propagation of shocks' with Giovanni Lombardo, Economic Policy 27 (2012), 319-359

'The international risk sharing puzzle is at business cycle and lower frequency' with Giancarlo Corsetti and Francesca Viani, Canadian Journal of Economics 45 (2012), 448-471

'Traded and Nontraded Goods Prices and International Risk Sharing: an Empirical Investigation' with Giancarlo Corsetti and Francesca Viani, NBER International Seminar on Macroeconomics (2011)

'Optimal Monetary Policy in Open Economics, with Giancarlo Corsetti and Sylvian Leduc, Handbook of Monetary Economics, Vol. III (2010)

'High Exchange-Rate Volatility and Low Pass-Through' with Giancarlo Corsetti and Sylvian Leduc, Journal of Monetary Economics 55 (2008), 1113-1128

'International Risk-Sharing and the Transmission of Productivity Shocks' with Giancarlo Corsetti and Sylvian Leduc, Review of Economic Studies 75 (2008), 443-473

'What Does a Technology Shock Do? A VAR Analysis with Model Based Sign Restrictions' with Stefano Neri, Journal of Monetary Economics 54 (2007), 512-549

'Optimal Monetary Policy and the Sources of Local Currency Price Stability' with Giancarlo Corsetti and Sylvian Leduc, International Dimensions of Monetary Policy, NBER and University of Chicago Press (2007)

'US Imbalances: The Role of Technology and Policy' with Rudolfs Bems and Frank Smets, Journal of International Money and Finance 26 (2007), 523-545

'Productivity, External Balance and Exchange rates: Evidence on the Transmission among G7 Countries' with Giancarlo Corsetti and Sylvian Leduc, NBER International Seminar on Macroeconomics, University of Chicago Press (2006)

'The Monetary Transmission Mechanism: Evidence from the Industries of Five OECD countries' with Francesco Lippi, European Economic Review 67 (2005), 1543-1569

'A Macroeconmic Model of International Price Discrimination' with Giancarlo Corsetti, Journal of International Economics 67 (2005), 129-155

'A Welfare Analysis of the Trade-off between the Currency Regime and Macroeconomic Stabilization' with Sylvian Leduc, Exchange Rate Dynamics: An Open Economy Macroeconomics Perspective, Routledge: London, (2004)

'Why is the Business Cycle Behavior of Fundamentals alike across Exchange Rate Regimes?' with Sylvian Leduc, International Journal of Finance and Economics 6 (2001), 401-419

'An Assessment of Regional Risk Sharing in Italy and the U.K' with Stefano Usai and Marco Vannini, Economic Growth and Change, Northampton (1999)

Working Papers
'The Missing devaluation: Nominal and real adjustment to the Great Recession within the US' with Giancarlo Corsetti and Ricardo Trezzi

'The Paradox of flexibility and state dependent pricing' with Anton Nakov

'Demand imbalances, exchange rate misalignment and monetary policy' with Giancarlo Corsetti and Sylvian Leduc

'Does a big bazooka matter? The effects of central bank balance sheet policies on exchange rates' with Goergios Georgiadis, Johannes Gräb and Arnaud Mehl