Barbara Annicchiarico's Homepage

Research interests

Environmental macroeconomics, growth and business cycles, fiscal and monetary policy, and macroeconomic modeling for policy analysis


"Short-Run Fluctuations and Long-Run Growth with Recursive Preferences" (with Alessandra Pelloni and Fabrizio Valenti), Macroeconomic Dynamics, forthcoming.

"Climate Actions, Market Beliefs, and Monetary Policy" (with Fabio Di Dio and Francesca Diluiso), Journal of Economic Behavior and Organization , 2024, 218, 176-208. Accepted version. SUERF Policy Brief ; Green Central Banking

"Optimal Correction of the Public Debt and Measures of Fiscal Soundness", (with Fabio Di Dio and Stefano Patrì), Metroeconomica, 2023, 74(1), 138-162 Accepted version.

"Optimal Factor Taxation in A Scale Free Model of Vertical Innovation", (with Valentina Antonaroli and Alessandra Pelloni), Economic Inquiry, 2022, 60(2), 794-830, Accepted version.

"Business Cycles and Environmental Policy: A Primer" (with Stefano Carattini, Carolyn Fischer and Garth Heutel), Environmental and Energy Policy and the Economy, NBER, 2022, 3, 221-253.

"Climate Actions and Macro-Financial Stability: The Role of Central Banks", (with Francesca Diluiso, Matthias Kalkuhl and Jan C. Minx ), Journal of Environmental Economics and Management, 2021, 110, 102548. SUERF Policy Brief

"Innovation, Growth and Optimal Monetary Policy" (with Alessandra Pelloni), Macroeconomic Dynamics, 2021, 25(5), 1175 - 1198. Accepted version and Online Appendixes

"A Behavioral Model of the Credit Cycle" (with Silvia Surricchio and Robert J. Waldmann), Journal of Economic Behavior and Organization, 2019, 166, 53-83.

"International Transmission of the Business Cycle and Environmental Policy" (with Francesca Diluiso), Resource and Energy Economics, 2019, 58, 101112. Accepted version, Supplementary Material.

"Protection for Sale under Monopolistic Competition: Beyond the CES" (with Enrico Marvasi), European Journal of Political Economy , 2019, 60, 101802, accepted version, Technical Appendix.

"Environmental Policy and Endogenous Market Structure" (with Luca Correani and Fabio Di Dio), Resource and Energy Economics, 2018, 52, 186-215. Accepted version.

"Tax Reforms and the Underground Economy: A Simulation-Based Analysis" (with Claudio Cesaroni), International Tax and Public Finance, 2018, 25(2), 458-518.

"GHG Emissions Control and Monetary Policy" (with Fabio Di Dio), Environmental & Resource Economics, 2017, 67(4), 823-851. Accepted version , Technical Appendix

"GHG Mitigation Schemes and Energy Policies: A Model-Based Assessment for the Italian Economy" (with Susan Battles, Fabio Di Dio, Pierfrancesco Molina and Pietro Zoppoli), Economic Modelling, 2017, 61, 495-509, accepted version.

"Taylor Rules, Long-Run Growth and Real Uncertainty" (with Lorenza Rossi), Online Appendix, Economics Letters, 2015,, vol. 133(C), 31-34, accepted version.

"Environmental Policy and Macroeconomic Dynamics in a New Keynesian Model" (with Fabio Di Dio), Journal of Environmental Economics and Management, 2015, 69(1), 1-21. WP version here. Supplementary Material. Erratum.

"Fiscal Devaluation Scenarios: A Quantitative Assessment for the Italian Economy", (with Fabio Di Dio and Francesco Felici), Open Economies Review , 2015, 26(4), 731-785, WP version

"Assessing policy reforms for Italy using ITEM and QUEST III" (with Fabio Di Dio, Francesco Felici and Francesco Nucci), Rivista di Politica Economica, 4, 2014.

"Productivity Growth and Volatility: How Important Are Wage and Price Rigidities?", (withAlessandra Pelloni), Oxford Economic Papers, 2014, 66(1), 306-324.

"Pro-competitive reforms and timing of implementation: An IGEM-based simulation analysis for Italy" (with Fabio Di Dio, and Francesco Felici), Rivista Italiana di Demografia e Statistica ,67(2), 2013.

"Optimal monetary policy in a New Keynesian model with endogenous growth", (with Lorenza Rossi) Journal of Macroeconomics, 38(PB), 2013.

"Structural Reforms and the Potential Effects on the Italian Economy", (with Fabio Di Dio and Francesco Felici), Journal of Policy Modeling , 35(1), 2013, WP version

"National Oligopolies and Economic Geography", (with Federica Orioli and Federico Trionfetti), The Annals of Regional Science , 48(1), 2012. WP version .

"Budgetary Policies in a DSGE Model with Finite Horizons" , (with Nicola Giammarioli and Alessandro Piergallini), Research in Economics , 66(2), 2012, WP Version, July 2011 (previously circulated as "Fiscal policy in a monetary economy with capital and finite lifetime")

Endogenous Growth, Monetary Shocks and Nominal Rigidities , (with Alessandra Pelloni and Lorenza Rossi), Economics Letters, 113(2), 2011, WP version .

"Country-Specific Risk Premium, Taylor Rules, and Exchange Rates", (with Alessandro Piergallini), Economic Notes, 40(1-2), 2011. WP Version.

"Long-Term Growth and Short-Term Volatility: The Labour Market Nexus", (with Luisa Corrado and Alessandra Pelloni ), The Manchester School, 79 (s1), June 2011. Long version (previously circulated as "Volatility, Growth and Labour Elasticity").

"Budget Deficits and Exchange-Rate Crises", (with Giancarlo Marini and Giovanni Piersanti), International Economic Journal , 25(2), 2011.

"Wealth effects, the Taylor rule and the liquidity trap", (with Giancarlo Marini and Alessandro Piergallini), International Journal of Economic Theory , 5(3), 2009. WP version .

"Monetary Policy and Fiscal Rules", (with Giancarlo Marini and Alessandro Piergallini), The B.E. Journal of Macroeconomics, (Contributions), (1), article 4, 2008.

"Government Deficits, Wealth Effects and the Price Level in an Optimizing Euro-Model", Journal of Policy Modeling, 29(1), 2007. Technical Appendix ; WP version .

"Monetary Rules and Deficit Shocks" , (with Alessandro Piergallini), Spanish Economic Review, 9(1), 2007.

"Inflation shocks and interest rate rules" , (with Alessandro Piergallini), Economics Bulletin , 5(19), 2006. Technical Appendix .

"Fiscal Policy and Exchange Rates", Journal of Economics,89(2), 2006. Technical Appendix ; Matlab file .

"Interest Rate Pegs, Wealth Effects, and Price Level Determinacy", (with Giancarlo Marini), Metroeconomica, 57(4), 2006.

"Population Dynamics and Monetary Policy" , (with Alessandro Piergallini), Journal of Population Economics, 19(3), 2006. Technical Appendix .

"Fiscal Policy and the Price Level" , (with Giancarlo Marini), Topics in Macroeconomics , 5(1), article 13, 2005. WP version .

"Government Deficits, Consumption and the Price Level" , (with Giancarlo Marini), Portuguese Economic Journal , 4(3), 2005.

Working Papers

"Stylized Facts on Intergenerational Household Finance: A Transatlantic View" (with Rebecca Clipal and Jean-Guillaume Sahuc ), 2024, Available at SSRN.

"Weather Shocks and Optimal Monetary Policy in a Climate-Vulnerable Economy" (with C├ędric Crofils), mimeo, 2024.

"Climate Policies, Macroprudential Regulation, and the Welfare Cost of Business Cycles" (with Marco Carli and Francesca Diluiso), Bank of England - Staff Working Paper no. 1036, 2023. Policy brief

"Business Cycles and Environmental Policy: Literature Review and Policy Implications" (with Stefano Carattini, Carolyn Fischer and Garth Heutel), NBER Working paper no. 29032, 2021.

Old (but evergreen) Working Papers

"IGEM-PA: a Variant of the Italian General Equilibrium Model for Policy Analysis" (with Barbara Annicchiarico & Claudio Battiati & Claudio Cesaroni & Fabio Di Dio and Francesco Felici), 2017 Working Papers 2, Department of the Treasury, Ministry of the Economy and of Finance.

Volatility and Growth with Recursive Preferences (with Alessandra Pelloni and Fabrizio Valenti), Working Paper no. 2016-04, The Rimini Centre for Economic Analysis.

"150 Years of Italian CO2 Emissions and Economic Growth" (with Anna Rita Bennato and Emilio Zanetti Chini), CREATES Research Paper 2014-2 and CEIS Research Paper no. 320. New version here!

"IGEM: A Dynamic General Equilibrium Model for Italy" (with Fabio Di Dio, Francesco Felici and Libero Monteforte), 2013, Dipartimento del Tesoro Working Paper no.4/2013.

"Economic Growth and Carbon Dioxide Emissions in Italy, 1861-2003", (with Anna Rita Bennato and Andrea Costa), MPRA Paper no. 12817.

"Fiscal Rules and Sustainability of Public Finances in an Endogenous Growth Model" , (with Nicola Giammarioli), 2004, ECB Working Paper no. 381. Revised Version, 2009

Reports and Contributions to Conference Volumes

"Measurements of intra-industry trade: where do we stand? An analysis of Italian trade data" (with Beniamino Quintieri), conference volume edited by the Bank of Italy, Conference in memory of Stefano Vona: International Trade and Italian Trade Pattern, Rome, December 2001.