Massimo Giovannini

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This paper studies the role of endogenous producer entry and product creation for monetary policy analysis and business cycle dynamics in a general equilibrium model with imperfect price adjustment. Optimal monetary policy stabilizes producer prices, but lets the consumer price index vary to accommodate changes in the number of available products. The free(More)
Previously circulated under the title " Business Cycles and Firm Dynamics " and …rst presented in the summer of 2004. For helpful comments, we thank Robert Shimer, two anonymous referees, and participants in many conferences and seminars. We are grateful to and Banque de France for …nancial support through the Chaire Banque de France at the Paris School of(More)
If borrowing capacity of indebted households is tied to the value of their home, house prices should enter a correctly specified aggregate Euler equation for consumption. I develop a simple two-agent, dynamic general equilibrium model in which home (collateral) values affect debt capacity and consumption possibilities for a fraction of the households. I(More)
We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the wealth distribution, the age pro…les of homeownership and mortgage debt, and the frequency of housing adjustment. In the time-series, the model matches the procyclicality and volatility of housing investment, and the procyclicality of mortgage(More)
Cosmology, high-energy physics and astrophysics are converging on the study of large-scale magnetic fields. While the experimental evidence for the existence of large-scale magnetization in galaxies, clusters and superclusters is rather compelling, the origin of the phenomenon remains puzzling especially in light of the most recent observations. The purpose(More)
We present a comprehensive study of the cosmological solutions of 6D braneworld models with azimuthal symmetry in the extra dimensions, moduli stabilization by flux or a bulk scalar field, and which contain at least one 3-brane that could be identified with our world. We emphasize an unusual property of these models: their expansion rate depends on the(More)
To appear in the book String theory and fundamental interactions published on the occasion of the celebration of the 65th birthday of Gabriele Veneziano, 1 Half a century of large-scale magnetic fields 1.1 A premise The content of the present contribution is devoted to large-scale magnetic fields whose origin, evolution and implications constitute today a(More)
NOTE: International Finance Discussion Papers are preliminary materials circulated to stimulate discussion and critical comment. References to International Finance Discussion Papers (other than an acknowledgment that the writer has had access to unpublished material) should be Abstract We build and estimate a two-sector (goods and services) dynamic(More)
The identification of the forces that drive oil stock prices is extremely important given the size of the Oil&Gas industry and its links with the energy sector and the environment. In the next decade oil companies will have to deal with international policies to contrast climate change. This issue is likely to affect companies' shareholder values. In this(More)
Large scale magnetic fields represent a triple point where cosmology, high-energy physics and astrophysics meet for different but related purposes. After reviewing the implications of large scale magnetic fields in these different areas, the rôle of primordial magnetic fields is discussed in various physical processes occurring prior to the decoupling epoch(More)