Connect with Juan Pablo
Juan Pablo Nicolini is a senior research economist with the Federal Reserve Bank of Minneapolis. Prior to joining the Fed in 2009, Juan Pablo taught at the Instituto Tecnológico Autónomo de México, the Universitat Pompeu Fabra in Barcelona, and the Universidad Torcuato Di Tella in Buenos Aires, where he holds a part-time position. In addition, he served as chairman of the Economics Department (1994–99) and president (2001–9) of Universidad Torcuato Di Tella. In 2006–7, he was Tinker Visiting Professor in the Economics Department and the Center for Latin-American Studies at the University of Chicago. He has also been a visiting researcher at the Banco de Portugal and in the Monetary Stance Division of the European Central Bank.
Juan studied economics at the Universidad Nacional de Tucumán in Argentina and earned M.A. and Ph.D. degrees in economics from the University of Chicago. The focus of his research centers on monetary theory and policy and on bounded rationality in macroeconomics. Juan’s work has appeared in several journals, among them the Journal of Political Economy, American Economic Review, Journal of Monetary Economics, Review of Economic Dynamics, and Journal of Economic Dynamics and Control.
Real Exchange Rates and Primary Commodity Prices
2020 | Journal of International Economics, 122 | With Joao Ayres and Constantino Hevia
Previously: Federal Reserve Bank of Minneapolis Staff Report 584
Optimal Capital Taxation Revisited
Forthcoming | Journal of Monetary Economics | With V. V. Chari and Pedro Teles
Previously: Federal Reserve Bank of Minneapolis Staff Report 571
Sovereign Default: The Role of Expectations
2018 | Journal of Economic Theory, 175: 803-812 | With João Ayres. Gaston Navarro, and Pedro Teles
Previously: Federal Reserve Bank of Minneapolis Working Paper 723
Monitoring Money for Price Stability
2018 | Journal of Economic Dynamics and Control, 89: 50-63 | With Constantino Hevia
Previously: Federal Reserve Bank of Minneapolis Working Paper 744
Stock Market Volatility and Learning
2016 | Journal of Finance, 71(1): 33-82 | With Klaus Adam and Albert Marcet
Previously: Federal Reserve Bank of Minneapolis Working Paper 720
On the Stability of Money Demand
2015 | Journal of Monetary Economics, 75: 48-65 | With Robert E. Lucas, Jr.
Previously: Federal Reserve Bank of Minneapolis Working Paper 718
Data files
Politica Monetaria y la Enfermedad Holandesa: Rigidez de Precios y de Salarios. (Monetary Policy and Dutch Disease: The Case of Price and Wage Rigidity. With English summary.)
2015 | Economia Chilena, 18(2): 28-60 | With Constantino Hevia
Previously: Federal Reserve Bank of Minneapolis Working Paper 726
Unconventional Fiscal Policy at the Zero Bound
2013 | American Economic Review, 103(4): 1172-1211 | With Isabel Correia, Emmanuel Farhi and Pedro Teles
Previously: Federal Reserve Bank of Minneapolis Working Paper 698
Optimal Devaluations
2013 | IMF Economic Review, 61(1): 22-51 | With Constantino Hevia
Previously: Federal Reserve Bank of Minneapolis Working Paper 702
Money is an Experience Good: Competition and Trust in the Private Provision of Money
2012 | Journal of Monetary Economics, 59(8): 815-825 | With Ramon Marimon and Pedro Teles
Previously: Federal Reserve Bank of Minneapolis Staff Report 467
The Argentine Economy After Two Centuries
2011 | Latin American Journal of Economics, 48(2): 133-156 | With Francisco Buera and Gastón Navarro
Optimal Unemployment Insurance and Employment History
2009 | Review of Economic Studies, 76(3): 1049-1070 | With Hugo A. Hopenhayn
Optimal Fiscal and Monetary Policy: Equivalence Results
2008 | Journal of Political Economy, 116(1): 141-170 | With Isabel Correia and Pedro Teles
Previously: Federal Reserve Bank of Minneapolis Staff Report 403
Money and Prices in Models of Bounded Rationality in High-Inflation Economies
2005 | Review of Economic Dynamics, 8(2): 452-479 | With Albert Marcet
Optimal Maturity of Government Debt without State Contingent Bonds
2004 | Journal of Monetary Economics, 51(3): 531-554 | With Francisco Buera
Inside-Outside Money Competition
2003 | Journal of Monetary Economics, 50(8): 1701-1718 | With Ramon Marimon and Pedro Teles
Previously: Federal Reserve Bank of Chicago Working Paper 2003-09
More on the Time Consistency of Monetary Policy
1998 | Journal of Monetary Economics, 41(2): 333-350
Tax Evasion and the Optimal Inflation Tax
1998 | Journal of Development Economics, 55(1): 215-232
Los Spreads de tasas de interes en la Argentina
1998 | Desarrollo Economico, 38 (Special Issue): 231-245 | With Francisco Buera
Optimal Unemployment Insurance
1997 | Journal of Political Economy, 105(2): 412-438 | With Hugo A. Hopenhayn
La reforma del seguro de desempleo en Espana: Hay algo que aprender de la teoria?
1997 | Moneda y Credito, 204: 263-294 | With Hugo A. Hopenhayn
Ruling Out Speculative Hyperinflations: The Role of the Government
1996 | Journal of Economic Dynamics and Control, 20(5): 791-809