Gaetano GABALLO

Associate Professor

Economics and Decision Sciences

Biography

Since July 2019 I am associate professor at HEC Paris and a CEPR reserch affiliate. I am on leave from Banque de France where I was senior economist in the monetary policy division. I had been affiliate professor at Paris School of Economics and an Economist in the Monetary Policy Research division at the European Central Bank. I held post-doc positions at the European Univesity Institute and Columbia University.

My research interest are in Macroeconomics and Monetary Economics, with a particular focus on the economic impact of frictions in the transmission of information.

I am author of publications in the Review of Economic Studies, the Journal of Monetary Economics and the American Economic Journal: Macroeconomics among others.

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Scientific articles

Breaking the Spell with Credit-Easing, Self-Confirming Credit Crises in Competitive Search Economies

Journal of Monetary Economics, Forthcoming, (in coll. with R. MARIMON)

Learning from House Prices: Amplification and Business Fluctuations

Review of Economic Studies, Forthcoming, (in coll. with R. CHAHROUR)

Can more public information raise uncertainty? The international evidence on forward guidance

Journal of Monetary Economics, December 2019, vol. 108, pp 93-112, (in coll. with M. EHRMANN, P. HOFFMANN, G. STRASSER)

Forward Guidance and Heterogenous Beliefs

American Economic Journal: Macroeconomics, July 2019, vol. 11, n° 3, pp 1-29, (in coll. with P. ANDRADE, E. MENGUS, B. MOJON)

Price Dispersion, Private Uncertainty, and Endogenous Nominal Rigidities

Review of Economic Studies, April 2018, vol. 85, n° 2, pp 1070-1110,

Bailouts, Moral Hazard, and Banks' Home Bias for Sovereign Debt.

Journal of Monetary Economics, August 2016, vol. 91, pp 70-85, (in coll. with A. ZETLIN- JONES)

Rational Inattention to News: The Perils of Forward Guidance

American Economic Journal: Macroeconomics, 2016, vol. 8, n° 1, pp 42-97,

Sequential coordination, higher-order belief dynamics and the E-stability principle

Journal of Economic Dynamics and Control, July 2014, vol. 44, pp 270-279,

Good luck or good policy? An expectational theory of macro volatility switches

Journal of Economic Dynamics and Control, December 2013, vol. 37, n° 12, pp 2755-2770,

Eductive learning and the rationalizability of oligopoly games

Applied Economics Letters, Septembre 2013, vol. 120, n° 3, pp 401-404,

Chapters in edited books

More, and more forward-looking: Central bank communication after the crisis

Hawks And Doves: Deeds And Words - Economics And Politics Of Monetary Policymaking, Sylvester Eijffinger, Donato Masciandaro, CEPR, 2

Scientific articles

Can more public information raise uncertainty? The international evidence on forward guidance

Journal of Monetary Economics, December 2019, vol. 108, pp 93-112, (in coll. with M. EHRMANN, P. HOFFMANN, G. STRASSER)

Forward Guidance and Heterogenous Beliefs

American Economic Journal: Macroeconomics, July 2019, vol. 11, n° 3, pp 1-29, (in coll. with P. ANDRADE, E. MENGUS, B. MOJON)

Price Dispersion, Private Uncertainty, and Endogenous Nominal Rigidities

Review of Economic Studies, April 2018, vol. 85, n° 2, pp 1070-1110,

Bailouts, Moral Hazard, and Banks' Home Bias for Sovereign Debt.

Journal of Monetary Economics, August 2016, vol. 91, pp 70-85, (in coll. with A. ZETLIN- JONES)

Chapters in edited books

More, and more forward-looking: Central bank communication after the crisis

Hawks And Doves: Deeds And Words - Economics And Politics Of Monetary Policymaking, Sylvester Eijffinger, Donato Masciandaro, CEPR, 2

Education

2010
Ph.D. in Economics, Université de Sienne - Italy

Academic appointments

Academic responsabilities at HEC

2019- Associate Professor, Economics - Decision Science HEC Paris
2019- Member of GREGHEC, the joint research laboratory CNRS-HEC Paris HEC Paris

External Academic Responsabilities

2018-2019 Affiliate Professor École d'économie de Paris (Paris School of Economics)
2017-2019 Research Economist (Senior-Expert) Monetary Policy Division Banque de France
2016-2017 Economist Banque Centrale Européenne
2011-2016 Research Economist Banque de France
2010-2011 Max Weber Post-doc Fellow European University Institute, Florence
2009-2010 Robert Solow Post-doc Fellow Columbia University

Scientific Activities

Editorial activities

Referee service for: American Economic Review, Econometrica, The Review of Economic Studies; American Economic Journal: Macroeconomics, Economic Journal, Journal of Economic Theory, Journal of Monetary Economics, Journal of Public Economics, Review of Economic Dynamics; European Economic Review, Economic Inquiry, Games and Economic Behavior, International Journal of Central Banking, Journal of Computational Economics, Journal of Economic Dynamics and Control; Revue de la Stabilite Financiere; Hong Kong Research Grant Council

Conference organisation

2017-2019 Salento Summer Meetings

2016-2019 Summer Workshop in International Finance and Macro Finance

2017 New Advances in Informational Frictions in Macro