Leonardo Melosi

Personal Website
Photo not available

About

Leonardo Melosi was the senior economist and economic advisor and executive director of the Center for Applied Macroeconomic Research in the economic research department of the Federal Reserve Bank of Chicago.

Bank Publications

Chicago Fed Letter

Filippo Ferroni, Jonas D. M. Fisher, Leonardo Melosi | 2023 | No. 476 | March Download
Renato Faccini, Leonardo Melosi, Russell Miles | 2022 | No. 465 | February Download
Francesco Bianchi, Jonas D. M. Fisher, Leonardo Melosi | 2021 | No. 453 | April Download

Economic Perspectives

Jeffrey R. Campbell, Filippo Ferroni, Jonas D. M. Fisher, Leonardo Melosi | 2019 | Vol. 43 | No. 2 | July Download
Jeffrey R. Campbell, Jonas D. M. Fisher, Alejandro Justiniano, Leonardo Melosi | 2017 | Vol. 41 | No. 3 | April Download

Working papers

Working Papers

Jonas D. M. Fisher, Leonardo Melosi, Sebastian Rast | 2025 | No. 2025-03 | March Download
Jeffrey R. Campbell, Filippo Ferroni, Jonas D. M. Fisher, Leonardo Melosi | 2023 | No. 2023-36 | September Download
Philippe Andrade, Filippo Ferroni, Leonardo Melosi | 2023 | No. 2023-28 | August Download
Spencer Krane, Leonardo Melosi, Matthias Rottner | 2023 | No. 2023-22 | June Download
Renato Faccini, Leonardo Melosi | 2023 | No. 2023-03 | January Download
Francesco Bianchi, Leonardo Melosi, Anna Rogantini Picco | 2022 | No. 2022-43 | October Download
Filippo Ferroni, Jonas D. M. Fisher, Leonardo Melosi | 2022 | No. 2022-39 | September Download
Leonardo Melosi, Hiroshi Morita, Francesco Zanetti | 2022 | No. 2022-38 | August Download
Francesco Bianchi, Leonardo Melosi | 2022 | No. 2022-37 | August Download
Hanno Kase, Leonardo Melosi, Matthias Rottner | 2022 | No. 2022-26 | June Download
Leonardo Melosi, Matthias Rottner | 2020 | No. 2020-31 | November Download
Francesco Bianchi, Renato Faccini, Leonardo Melosi | 2020 | No. 2020-13 | May Download
Renato Faccini, Leonardo Melosi | 2020 | No. 2020-09 | March Download
Francesco Bianchi, Leonardo Melosi, Matthias Rottner | 2019 | No. 2019-07 Download
Jeffrey R. Campbell, Filippo Ferroni, Jonas D. M. Fisher, Leonardo Melosi | 2019 | No. 2019-03 Download
Antonello d’Alessandro, Giulio Fella, Leonardo Melosi | 2018 | No. 2018-09 Download
Renato Faccini, Leonardo Melosi | 2018 | No. 2018-06 Download
Francesco Bianchi, Leonardo Melosi | 2017 | No. 2017-19 Download
Francesco Bianchi, Leonardo Melosi | 2016 | No. 2016-16 Download
Francesco Bianchi, Leonardo Melosi | 2016 | No. 2016-15 Download
Leonardo Melosi | 2016 | No. 2016-14 Download
Jeffrey R. Campbell, Jonas D. M. Fisher, Alejandro Justiniano, Leonardo Melosi | 2016 | No. 2016-07 Download
Francesco Bianchi, Leonardo Melosi | 2014 | No. 2014-17 | November Download
Francesco Bianchi, Leonardo Melosi | 2014 | No. 2014-16 | November Download
Francesco Bianchi, Leonardo Melosi | 2013 | No. 2013-12 Download
Leonardo Melosi | 2012 | No. 2012-05 | November Download

Selected External Publications

Acceptances in Academic Journals and Books

Ferroni, Filippo, Jonas D. M. Fisher, and Leonardo Melosi, 2024, “Unusual shocks in our usual models,” Journal of Monetary Economics, Vol. 147, 03598, October. 20241001050000
Bianchi, Francesco, Renato Faccini, and Leonardo Melosi, 2023, “A fiscal theory of persistent inflation,” Quarterly Journal of Economics, Vol. 138, No. 4, November, pp. 2127–2179. 20231101050000
Melosi, Leonardo, and Matthias Rottner, 2023, “Pandemic recessions and contact tracing,” Journal of the European Economic Association, Vol. 21, No. 6, December, pp. 2485–2517. 20231201060000
Faccini, Renato, and Leonardo Melosi, 2022, “Pigouvian cycles,” American Economic Journal: Macroeconomics, Vol. 14, No. 2, April, pp. 281–318, (accepted August 19, 2020). 20220401050000
Bianchi, Francesco, Leonardo Melosi, and Matthias Rottner, 2021, “Hitting the elusive inflation target,” Journal of Monetary Economics, Vol. 124, November, pp. 107–122. 20211101050000
Bianchi, Francesco, and Leonardo Melosi, 2019, “The dire effects of the lack of monetary and fiscal coordination,” Journal of Monetary Economics, Vol. 104, June, pp. 1–22, (accepted September 6, 2018). 20190601050000
Campbell, Jeffrey R., Filippo Ferroni, Jonas D. M. Fisher, and Leonardo Melosi, 2019, “The limits of forward guidance,” Journal of Monetary Economics, Vol. 108, December, pp. 118–134. 20191201060000
D'Alessandro, Antonello, Giulio Fella, and Leonardo Melosi, 2019, “Fiscal stimulus with learning-by-doing,” International Economic Review, Vol. 60, No. 3, August, pp. 1413–1432. 20190801050000
Bianchi, Francesco, and Leonardo Melosi, 2018, “Constrained discretion and central bank transparency,” Review of Economics and Statistics, Vol. 100, No. 1, March, pp. 187–202. 20180301060000
Melosi, Leonardo, and Francesco Bianchi, 2017, “Escaping the Great Recession,” American Economic Review, Vol. 107, No. 4, April, pp. 1030–1058. 20170401050000
Melosi, Leonardo, 2017, “Signaling effects of monetary policy,” Review of Economic Studies, Vol. 84, No. 2, April, pp. 853–884. 20170401050000
Bianchi, Francesco, and Leonardo Melosi, 2016, “Modeling the evolution of expectations and uncertainty in general equilibrium,” International Economic Review, Vol. 57, No. 2, May, pp. 717–756. 20160501050000
Faccini, Renato, and Leonardo Melosi, “Job-to-job mobility and inflation,” Review of Economics and Statistics, forthcoming.

Journal Articles

With Francesco Bianchi, Forthcoming, "Constrained Discretion and Central Bank Transparency," Review of Economics and Statistics.

With Francesco Bianchi, 2017, "Escaping the Great Recession," American Economic Review, Vol. 107, No. 4, pp. 1030-1058.

2017, "Signaling Effects of Monetary Policy," Review of Economic Studies, Vol. 84, No. 2, pp. 853-884.

With Jeffrey Campbell, Jonas Fisher and Alejandro Justiniano, 2017, "Forward Guidance and Macroeconomic Outcomes Since the Financial Crisis," NBER Macroeconomics Annual 2016.

With Francesco Bianchi, 2016, "Modeling the Evolution of Expectations and Uncertainty in General Equilibrium," International Economic Review, Vol. 57, No. 2, May, pp. 717–756.

With Robert Barsky and Alejandro Justiniano, 2014, "The Natural Rate of Interest and Its Usefulness for Monetary Policy," American Economic Review, Vol. 104, No. 5, May, pp. 37-43.

2014, "Estimating Models with Dispersed Information," American Economic Journal: Macroeconomics, Vol. 6, No. 1, pp. 1-31.

With Francesco Bianchi, 2014, "Dormant Shocks and Fiscal Virtue," NBER Macroeconomics Annual 2013, Vol. 28, pp. 1-46.

 

Having trouble accessing something on this page? Please send us an email and we will get back to you as quickly as we can.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

Copyright © 2025. All rights reserved.

Please review our Privacy Policy | Legal Notices