Andrea Pescatori
Last Updated: May 10, 2019
Andrea Pescatori is Chief of the Commodities Unit in the Research Department. He also worked in the North America division of the Western-Hemisphere Department and on the Chile desk. He was previously at the World Economic Studies division in the Research Department. Before joining the IMF in 2010, he worked at the Federal Reserve. His major fields of expertise are monetary and fiscal policy, macro-econometrics, asset prices, with particular emphasis on housing and commodity prices, and international finance. Mr. Pescatori holds a Ph.D. in economics from Universitat Pompeu Fabra—Barcelona, Spain and a B.S. in economics from the University of Rome III—Rome, Italy. Mr. Pescatori has been visiting student at the M.I.T., intern at the IMF in the International Capital Markets division, visiting student at the Riksbank, Sweden, and fellow of the Ente Luigi Einaudi, Rome, Italy. For an updated list of publications see my personal webpage.
Personal WebPage: https://sites.google.com/site/andreapescatori/
Fluent In: Italian, Spanish.
Previous Experience:
Prior to joining the IMF he was an economist at the Research Department of the Federal Reserve Bank of Cleveland from 2006 to 2010. In 2009-2010 he was visiting the division of International Finance of the Federal Reserve Board. In 2006 he was visiting fellow at the Ente Luigi Enaudi, Rome, Italy.
Referee Activities:
American Economic Review, American Economic Journal: Macroeconomics, Economica, Economic Inquiry, Economic Journal, European Economic Review, Empirical Economics, Energy Journal, International Economic Review, International Journal of Central Banking, IMF Economic Review, Journal of Economic Dynamics and Control, Journal of International Economic, Journal of European Economic Association, Journal of Money Credit and Banking, Journal of Monetary Economics, Review of Economic Dynamic, Review of Financial Studies.
Current Position:
Chief Commodities Unit, RES.
Field of Expertise:
Monetary Policy
Macro-Financial Issues
International Trade
International Finance
Energy and Environmental Economics
Economic Modeling
IMF Books and Working Papers:
Energy, Efficiency Gains and Economic Development: When Will Global Energy Demand Saturate? , Working Paper No. 2020/253 , November 20, 2020
Labor Market Informality and the Business Cycle , Working Paper No. 2020/256 , November 20, 2020
The Future of Oil and Fiscal Sustainability in the GCC Region , Departmental Paper No.20/01 , February 06, 2020
Central Bank Communication and Monetary Policy Surprises in Chile , Working Paper No. 18/156 , July 06, 2018
The Macroeconomic Effects of Trade Tariffs : Revisiting the Lerner Symmetry Result , Working Paper No. 17/151 , July 07, 2017
Systemic Risk : A New Trade-off for Monetary Policy? , Working Paper No. 15/142 , June 30, 2015
Lower for Longer : Neutral Rates in the United States , Working Paper No. 15/135 , June 24, 2015
Oil Price Volatility and the Role of Speculation , Working Paper No. 14/218 , December 12, 2014
Debt and Growth: Is There a Magic Threshold? , Working Paper No. 14/34 , February 13, 2014
Competition among Exchanges and Enforcement Policy , Working Paper No. 13/37 , February 01, 2013
Expansionary Austerity New International Evidence , Working Paper No. 11/158 , July 01, 2011
A New Action-Based Dataset of Fiscal Consolidation , Working Paper No. 11/128 , June 01, 2011
Search Frictions and the Labor Wedge , Working Paper No. 11/117 , May 01, 2011
Debt Crises and the Development of International Capital Markets , Working Paper No. 04/44 , March 01, 2004
F&D articles
No Magic Threshold (with D. Sandri and J. Simon), forthcoming Finance and Development, June (2014).
Other Published Materials
“Perspectives on global real interest rates”, (with D. Furceri) in World Economic Outlook, April 2014.
“Credit supply and economic growth”, (with D. Sandri) in Chapter 1 of World Economic Outlook, April 2014.
“Dancing together? Spillovers, common shocks, and the role of financial and trade linkages”, (with A. Abiad, D. Furceri, and S. Kalemli Ozcan) in World Economic Outlook, October 2013.
“The Good, the Bad, and the Ugly: 100 Years of Dealing with Public Debt Overhangs”, (with D. Sandi and J. Simon) in World Economic Outlook,
5. “Swings in Commodity Prices: (How) Do They Unwind?”, (with R. Dutagupta et al.) in World Economic Outlook, April 2012.
“Target What you can Hit: Commodity Price Swings and Monetary Policy”, (with D. Leigh and J. Simon) in World Economic Outlook, October 2011.
“Oil Scarcity Growth and Global Imbalances”, (with T. Helbling et al.) in World Economic Outlook, April 2011.
"Will It Hurt? Macroeconomic Effects of Fiscal Consolidation", Ch.3 World Economic Outlook, October 2010.
Publications in Journals (Refereed)
Expansionary Austerity: International Evidence (with J. Guajardo and D. Leigh), forthcoming Journal of the European Economic Association (2014).
Oil and the Great Moderation (with A. Nakov), (2010) Economic Journal, Volume 120, Issue 543, pages 131–156, March.
Monetary Policy Tradeoffs with a Dominant Oil Producer (with A. Nakov), (2010) Journal of Money Credit and Banking, Vol. 42 (1) (Lead Article).
Are Debt Crises Adequately Defined? (with A. Sy), (2007) IMF Staff Papers, Vol. 54, N. 2.
Publications in Books and Conference Volumes
"Debt Overhang in a Business Cycle model" with F. Occhino, FRB Cleveland wp1003R.
Other Published Materials
“Macroeconomic Models, Forecasting, and Policymaking”, (with S. Zaman) Cleveland FED Commentary, Oct. 2011.
12. Implementing Long-term Security Purchases, Economic Trends, Jul. 2009
New Policy Moves and the Term Asset-Backed Securities Loan Facility, Economic Trends, Apr 2009
Industrial Production, Commodity Prices and the Baltic Dry Index, Economic Trends, Nov 2008
Do Oil Prices Directly Affect the Stock Market? Economic Trends, Aug 2008
Do Oil Prices Directly Affect the Stock Market? Economic Trends, Aug 2008
“What interest rate can tell us about mortgage markets?” Economic Trends, Apr 2008.
“Great Moderation: Good Luck, Good Policy or Less Oil Dependence?”, Economic Commentary Mar 2008
“Jumbo Mortgages and Mortgage Market Conditions” Economic Trends, Nov 2007
“Home Prices”, Economic Trends, Apr 2007
Andrea Pescatori is Chief of the Commodities Unit in the Research Department. He also worked in the North America division of the Western-Hemisphere Department and on the Chile desk. He was previously at the World Economic Studies division in the Research Department. Before joining the IMF in 2010, he worked at the Federal Reserve. His major fields of expertise are monetary and fiscal policy, macro-econometrics, asset prices, with particular emphasis on housing and commodity prices, and international finance. Mr. Pescatori holds a Ph.D. in economics from Universitat Pompeu Fabra—Barcelona, Spain and a B.S. in economics from the University of Rome III—Rome, Italy. Mr. Pescatori has been visiting student at the M.I.T., intern at the IMF in the International Capital Markets division, visiting student at the Riksbank, Sweden, and fellow of the Ente Luigi Einaudi, Rome, Italy. For an updated list of publications see my personal webpage.
Personal WebPage: https://sites.google.com/site/andreapescatori/
Fluent In: Italian, Spanish.
Previous Experience:
Prior to joining the IMF he was an economist at the Research Department of the Federal Reserve Bank of Cleveland from 2006 to 2010. In 2009-2010 he was visiting the division of International Finance of the Federal Reserve Board. In 2006 he was visiting fellow at the Ente Luigi Enaudi, Rome, Italy.
Referee Activities:
American Economic Review, American Economic Journal: Macroeconomics, Economica, Economic Inquiry, Economic Journal, European Economic Review, Empirical Economics, Energy Journal, International Economic Review, International Journal of Central Banking, IMF Economic Review, Journal of Economic Dynamics and Control, Journal of International Economic, Journal of European Economic Association, Journal of Money Credit and Banking, Journal of Monetary Economics, Review of Economic Dynamic, Review of Financial Studies.
Current Position:
Chief Commodities Unit, RES.
Field of Expertise:
Monetary Policy
Macro-Financial Issues
International Trade
International Finance
Energy and Environmental Economics
Economic Modeling
IMF Books and Working Papers:
Energy, Efficiency Gains and Economic Development: When Will Global Energy Demand Saturate? , Working Paper No. 2020/253 , November 20, 2020
Labor Market Informality and the Business Cycle , Working Paper No. 2020/256 , November 20, 2020
The Future of Oil and Fiscal Sustainability in the GCC Region , Departmental Paper No.20/01 , February 06, 2020
Central Bank Communication and Monetary Policy Surprises in Chile , Working Paper No. 18/156 , July 06, 2018
The Macroeconomic Effects of Trade Tariffs : Revisiting the Lerner Symmetry Result , Working Paper No. 17/151 , July 07, 2017
Systemic Risk : A New Trade-off for Monetary Policy? , Working Paper No. 15/142 , June 30, 2015
Lower for Longer : Neutral Rates in the United States , Working Paper No. 15/135 , June 24, 2015
Oil Price Volatility and the Role of Speculation , Working Paper No. 14/218 , December 12, 2014
Debt and Growth: Is There a Magic Threshold? , Working Paper No. 14/34 , February 13, 2014
Competition among Exchanges and Enforcement Policy , Working Paper No. 13/37 , February 01, 2013
Expansionary Austerity New International Evidence , Working Paper No. 11/158 , July 01, 2011
A New Action-Based Dataset of Fiscal Consolidation , Working Paper No. 11/128 , June 01, 2011
Search Frictions and the Labor Wedge , Working Paper No. 11/117 , May 01, 2011
Debt Crises and the Development of International Capital Markets , Working Paper No. 04/44 , March 01, 2004
F&D articles
No Magic Threshold (with D. Sandri and J. Simon), forthcoming Finance and Development, June (2014).
Other Published Materials
“Perspectives on global real interest rates”, (with D. Furceri) in World Economic Outlook, April 2014.
“Credit supply and economic growth”, (with D. Sandri) in Chapter 1 of World Economic Outlook, April 2014.
“Dancing together? Spillovers, common shocks, and the role of financial and trade linkages”, (with A. Abiad, D. Furceri, and S. Kalemli Ozcan) in World Economic Outlook, October 2013.
“The Good, the Bad, and the Ugly: 100 Years of Dealing with Public Debt Overhangs”, (with D. Sandi and J. Simon) in World Economic Outlook,
5. “Swings in Commodity Prices: (How) Do They Unwind?”, (with R. Dutagupta et al.) in World Economic Outlook, April 2012.
“Target What you can Hit: Commodity Price Swings and Monetary Policy”, (with D. Leigh and J. Simon) in World Economic Outlook, October 2011.
“Oil Scarcity Growth and Global Imbalances”, (with T. Helbling et al.) in World Economic Outlook, April 2011.
"Will It Hurt? Macroeconomic Effects of Fiscal Consolidation", Ch.3 World Economic Outlook, October 2010.
Publications in Journals (Refereed)
Expansionary Austerity: International Evidence (with J. Guajardo and D. Leigh), forthcoming Journal of the European Economic Association (2014).
Oil and the Great Moderation (with A. Nakov), (2010) Economic Journal, Volume 120, Issue 543, pages 131–156, March.
Monetary Policy Tradeoffs with a Dominant Oil Producer (with A. Nakov), (2010) Journal of Money Credit and Banking, Vol. 42 (1) (Lead Article).
Are Debt Crises Adequately Defined? (with A. Sy), (2007) IMF Staff Papers, Vol. 54, N. 2.
Publications in Books and Conference Volumes
"Debt Overhang in a Business Cycle model" with F. Occhino, FRB Cleveland wp1003R.
Other Published Materials
“Macroeconomic Models, Forecasting, and Policymaking”, (with S. Zaman) Cleveland FED Commentary, Oct. 2011.
12. Implementing Long-term Security Purchases, Economic Trends, Jul. 2009
New Policy Moves and the Term Asset-Backed Securities Loan Facility, Economic Trends, Apr 2009
Industrial Production, Commodity Prices and the Baltic Dry Index, Economic Trends, Nov 2008
Do Oil Prices Directly Affect the Stock Market? Economic Trends, Aug 2008
Do Oil Prices Directly Affect the Stock Market? Economic Trends, Aug 2008
“What interest rate can tell us about mortgage markets?” Economic Trends, Apr 2008.
“Great Moderation: Good Luck, Good Policy or Less Oil Dependence?”, Economic Commentary Mar 2008
“Jumbo Mortgages and Mortgage Market Conditions” Economic Trends, Nov 2007
“Home Prices”, Economic Trends, Apr 2007