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Luca Gagliardone

I am a PhD candidate in Economics at New York University.

I received my MSc from Bocconi University.

I will complete my PhD at NYU in 2025.


Research Fields: Macroeconomics, Monetary Policy, Information, Search


Working Papers

Novembre 24, 2023 in Working Papers

Anatomy of the Phillips Curve: Micro Evidence and Macro Implications, with M. Gertler, S. Lenzu, J. Tielens

| November 2023 | Abstract We develop a bottom-up approach to estimating the slope of the primitive form of the New Keynesian Phillips curve, which features marginal cost as the relevant real activity variable. Using quarterly microdata on prices, costs, and output from the Belgian manufacturing sector, we estimate dynamic…
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Ottobre 23, 2023 in Working Papers

Liquidity and Fundamental Risks in a Search Economy

| October 2023 | Abstract This paper studies the interplay between liquidity and fundamental risks in an asset pricing framework with a frictional, decentralized secondary market and endogenous trading decisions. In this setting, the liquidity value of assets decreases in the riskiness of the underlying. For a sufficiently large deterioration…
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Settembre 8, 2023 in Working Papers

Oil Prices, Monetary Policy and Inflation Surges, with M. Gertler

| January 2024 | Abstract We develop a simple quantitative New Keynesian model aimed at accounting for the recent sudden and persistent rise in inflation. The model features oil as a complementary good for households and as a complementary input for firms, along with real wage rigidity and an explicit…
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Settembre 8, 2023 in Working Papers

Optimal Public Communication

| June 2022 | Abstract A benevolent planner chooses optimally whether and how to disclose publicly a private forecast of fundamentals to a large number of informed small agents. These agents interact in economic environments with information frictions, strategic complementarity or substitutability in actions, and a rich set of externalities…
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Work in progress

Whose Expectations Matter for Inflation Dynamics?, with J. Tielens (Job Market Paper)