- University of Trento,
- University of York,
- University of Pisa,
Paolo Gelain is a research economist in the Research Department at the Federal Reserve Bank of Cleveland. His fields of interest include applied macroeconomics, new Keynesian DSGE models with financial frictions, optimal monetary policy, Bayesian methods, and bounded rationality.
Prior to joining the Bank, Dr. Gelain was a senior adviser in the modeling group of Norges Bank. For a year during his seven-year tenure at Norges Bank, he took a leave to serve as the ESCB/IO economist in the Financial Research Department of the European Central Bank.
Dr. Gelain obtained his PhD in economics from the University of Pisa in Italy, his MS in economics from the University of York in the United Kingdom, and his BA in economics from the University of Trento in Italy.
- “Output Gap, Monetary Policy Trade-offs, and Financial Frictions.” With Francesco Furlanetto and Marzie Taheri Sanjani. Review of Economic Dynamics, 2021, Volume 41, pages 52-70.
- “Multi-period Loans, Occasionally Binding Constraints and Monetary Policy: A Quantitative Evaluation.” With Kristina Bluwstein, Michal Brzoza-Brzezina, and Marcin Kolasa. Journal of Money, Credit and Banking, 2020, 52(7): 1691–1718.
- “Inflation Dynamics and Adaptive Expectations in an Estimated DSGE Model.” With Nikolay Iskrev, Kevin J. Lansing, and Caterina Mendicino. Journal of Macroeconomics, 59 (March): 258–277.
- “Explaining the Boom–Bust Cycle in the US Housing Market: A Reverse–Engineering Approach.” With Kevin J. Lansing and Gisle J. Natvik. Journal of Money, Credit, and Banking, 2018, 50(8): 1751–1783.
- “Leaning against the Credit Cycle.” With Kevin J. Lansing and Gisle J. Natvik. Journal of the European Economic Association, 2018, 16(5): 1350–1393.
- “Monetary and Macroprudential Policies in an Estimated Model with Financial Intermediation.” With Pelin Ilbas. Journal of Economic Dynamics and Control, 2017, 78: 164–189.
- “A Demand–Driven Search Model with Self–Fulfilling Expectations: The New “Farmerian” Framework under Scrutiny.” With M. Guerrazzi. International Review of Applied Economics, 2015, 29(1).
- “House Prices, Expectations, and Time–Varying Fundamentals.” With Kevin J. Lansing. Journal of Empirical Finance, 2014, 29(C): 3–25.
- “House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy.” With Kevin J. Lansing and C. Mendicino. International Journal of Central Banking, 2013, 9(2): 219–276.
- “Optimal Monetary Policy in an Estimated DSGE Model with Financial Frictions.” With D. Rodriguez–Palenzuela, and B. Világi. Moneda y Credito, 2011. Número 232.
- “An Estimated Dynamic Stochastic General Equilibrium Model with Financial Frictions for Estonia.” With D. Kulikov. Eastern European Economics, 2011, 49(5): 99–122.
- “The External Finance Premium in the Euro Area: a Dynamic Stochastic General Equilibrium Analysis.” North American Journal of Economics and Finance, 2010, 21: 49–71.