Giovanni Lombardo

TL;DR: In this article, Dedola and Lombardo argue that under financial integration, the fact that leveraged investors face the same returns across internationally traded assets, would tend to equalize their borrowing cost across countries.

TL;DR: In this article, the authors show that stabilization by one country will also benefit other countries, reducing incentives to implement credit policies in a classic free-riding problem, especially when these policies entail domestic costs, and show that this outcome can emerge in an open economy model featuring financial intermediaries that face endogenously determined balance sheet constraints.

TL;DR: In this article, the authors explore the nature of macroeconomic spillovers from advanced economies to emerging market economies and the consequences for independent use of monetary policy in EMEs and construct a theoretical model that can help to account for these findings.

TL;DR: In this article, the welfare implications of two widely used pricing assumptions in the New-Keynesian literature: Calvo-pricing and Rotemberg-price were compared, and it was shown that despite the strong similarities between the two assumptions to a first order approximation, in general they might entail different welfare costs at higher order of approximation.

TL;DR: In this article, the role of an "activist" fiscal policy as a stabilisation tool is considered and a measure of the welfare gains from international fiscal policy cooperation is derived.