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Andrea Ajello

Education

  • Ph.D., Economics, Northwestern University, 2011
  • M.A., Economics, Northwestern University, 2005
  • M.A., International Economics, University of Rome "Tor Vergata", 2004
  • B.A., Economics, University of Rome "Tor Vergata", 2003
Current Research Topics
  • Interest Rate Policy and Financial Stability
  • Inflation Forecasting with Term Structure Data
  • Chief -- Macro-Financial Analysis Section

    Board of Governors of the Federal Reserve System

    2020 - present
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2016 - 2020
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2015 - 2016
  • Economist

    Board of Governors of the Federal Reserve System

    2011 - 2015
  • Sticky Leverage: Comment
    Andrea Ajello, Ander Perez-Orive, and Bálint Szőke
    Finance and Economics Discussion Series (2023)
    https://doi.org/10.17016/FEDS.2023.051
  • A New Index to Measure U.S. Financial Conditions
    Andrea Ajello, Michele Cavallo, Giovanni Favara, William B. Peterman, John Schindler, and Nitish R. Sinha
    FEDS Notes (2023)
    https://doi.org/10.17016/2380-7172.3281
  • More than Words: Twitter Chatter and Financial Market Sentiment
    Travis Adams, Andrea Ajello, Diego Silva, and Francisco Vazquez-Grande
    Finance and Economics Discussion Series (2023)
    https://doi.org/10.17016/FEDS.2023.034
  • Monetary Policy, Inflation Outlook, and Recession Probabilities
    Andrea Ajello, Luca Benzoni, Makena Schwinn, Yannick Timmer, and Francisco Vazquez-Grande
    Economic Perspectives (2022)
    https://doi.org/10.21033/ep-2022-4
  • Monetary Policy, Inflation Outlook, and Recession Probabilities
    Andrea Ajello, Luca Benzoni, Makena Schwinn, Yannick Timmer, and Francisco Vazquez-Grande
    FEDS Notes (2022)
    https://doi.org/10.17016/2380-7172.3175
  • Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms
    Andrea Ajello, Nina Boyarchenko, François Gourio, and Andrea Tambalotti
    Finance and Economics Discussion Series (2022)
    https://doi.org/10.17016/FEDS.2022.005
  • The Asymmetric Costs of Misperceiving R-star
    Andrea Ajello, Isabel Cairó, Vasco Cúrdia, and Albert Queralto
    FRBSF Economic Letter (2021)
  • Core and 'Crust': Consumer Prices and the Term Structure of Interest Rates
    Andrea Ajello, Luca Benzoni, and Olena Chyruk
    Review of Financial Studies (2020)
    https://doi.org/10.1093/rfs/hhz094
  • Monetary Policy Tradeoffs and the Federal Reserve's Dual Mandate
    Andrea Ajello, Isabel Cairó, Vasco Cúrdia, Thomas A. Lubik, and Albert Queralto
    Finance and Economics Discussion Series (2020)
    https://doi.org/10.17016/FEDS.2020.066
  • Financial Stability and Optimal Interest-Rate Policy
    Andrea Ajello, Thomas Laubach, David López-Salido, and Taisuke Nakata
    International Journal of Central Banking (2019)
    See also » FRB Working Paper (2016)
  • Financial Intermediation, Investment Dynamics, and Business Cycle Fluctuations
    Andrea Ajello
    American Economic Review (2016)
    https://doi.org/10.1257/aer.20120079
    See also » FRB Working Paper (2012)
  • Core and 'Crust': Consumer Prices and the Term Structure of Interest Rates
    Andrea Ajello, Luca Benzoni, and Olena Chyruk
    Working paper series (Federal Reserve Bank of Chicago. Research Department) (2014)
  • No-Arbitrage Restrictions and the U.S. Treasury Market
    Andrea Ajello, Luca Benzoni, and Olena Chyruk
    Economic Perspectives (2012)
Awards
  • 2010

    Northwestern University

    Dissertation Fellowship

  • 2008

    Department of Economics, Northwestern University

    Distinguished Teaching Assistant Award

  • 2004

    Mediocredito Centrale (now Unicredit)

    "Marco Fanno" Graduate Research Fellowship

Referee
  • American Economic Review
  • European Economic Review
  • Journal of Financial Econometrics
  • Journal of International Central Banking
  • Journal of Macroeconomics
  • Journal of Monetary Economics
  • Journal of Money, Credit and Banking
Professional Affiliation
  • American Economic Association
  • Econometric Society
  • Euro Area Business Cycle Network
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Last Update: August 2, 2024