views are my own
Brooklyn
Joined April 2012
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My colleague, friend, and mentor Paolo Pesenti just retired from @NYFedResearch I made a video for him inspired by the British series Slow Horses, which Paolo liked a lot —partly because there are clear parallels between the main character, played by Gary Oldman, and him. 1/n
For this, thank you, Paolo!
Some of those who are in the video: @GautiEggertsson @neilmehrotra @yfatihkarahan @APFerrero @BenignoGianluca @pilossopher @DomenicoGiannon @benjaminpugsley @AysegulASahin @TinchoAlmuzara @VCurdia @jacobpweber @tamba_NYC
This approach turned out pretty well for the research group of the NY Fed. I have been happy working with Paolo. In the video you will see many others who worked with Paolo. They all thrived at the NY Fed, and that's because Paolo put them in an environment where they could do so
Both are extremely laid back. They also kind of look like one another. And very important for those of us who worked with Paolo, both have an approach to management that mainly consists in letting people do whatever they want and having faith that this will lead to good outcomes
#AMEC #NYFed will host a symposium on The Secular Rise in Markups: Measurement, Causes, and Macroeconomic Implications. Register and watch it online! newyorkfed.org/research/conf…
AHEAD ON OCT. 16
Our next #AMEC symposium focuses on the "The Secular Rise in Markups: Measurement, Causes, and Macroeconomic Implications."
The event is open to the public virtually. Register to watch:
nyfed.org/4h7yONs
“Measurement" will be covered by Susanto Basu, Jan Eeckhout, and Devesh Raval. "Causes" by Janice Eberly, Pinelopi Goldberg (@PennyG_Yale), and Matthias Kehrig (@MacroMatthias); and "Macro Implications" by David Baqaee (@DBaqaee), @GautiEggertsson, and @Jonheathcote.
The symposium is organized by my colleagues Mary Amiti, Jeremy Pearce (@jeremygpearce), Jake Weber(@jacobpweber), and me.
Marco Del Negro (he, him) retweeted
One master commenting on the work and influence of another cepr.org/voxeu/columns/chris…
Videos from the #AMEC #NYFed symposium on “The K-ShapedEconomy” are up! The symposium included great sessions on 1) Evidence of a K-shaped economy in micro-level data (@marthagimbel, @pascaljnoel, James Ziliak) …
We recently hosted “The K-Shaped Economy,” a symposium organized by the Applied Macroeconomics and Econometrics Center (#AMEC), which included research on the evidence of divergence in micro-level data—i.e., is the economy splitting into two tiers? Watch: nyfed.org/4ayKDJe
… 2) Diverging asset markets (@MarkusEconomist, @KrishnaRSGuha, Samuel Hanson), …
3) Implications of the K-shaped economy for macroeconomic dynamics and monetary policy (Matthieu Gomez, Pascual Restrepo, @glviolante). Watch and learn! :-)
newyorkfed.org/research/conf…
Marco Del Negro (he, him) retweeted
I am truly honored and grateful to the Econometric Society. The best part of this recognition is being able to share it with three former students, now friends, and rising stars of the profession.
Econometrica is pleased to announce the 2026 Frisch Medal for the best applied paper, awarded to Adrien Bilal, Niklas Engbom, Simon Mongey, and Giovanni L. Violante for “Firm and Worker Dynamics in a Frictional Labor Market.”
econometricsociety.org/socie…
Marco Del Negro (he, him) retweeted
Read my reflection in Memoriam of Christopher A. Sims: larspeterhansen.org/news/art…
Marco Del Negro (he, him) retweeted
Proud spouse post: my better half has written a beautiful book on the history of the art market called "Trading Beauty: Art Market Histories from the Altar to the Gallery." Highly recommended to anyone who likes art history and the evolution of markets.
Her interview with Art News is here, if you wish to learn more artnews.com/art-news/market/…
Available for pre-order here: gagosianshop.com/collections…
I will teach a course at CEMFI in Madrid from 8/31 to 9/4. I will teach tools in macroeconometrics: VARs, state-space models, TV coefficients, factor and SV models, DSGE and DSGE-VARs, and model averaging
cemfi.es/programs/css/course…
Growth in 2026 is expected to be more robust, and inflation more persistent, than predicted in December. Stronger investment is the main driver for higher growth, while cost-push shocks, possibly capturing the effects of tariffs, are the key factors behind higher inflation.
DSGE Model Forecast: March 2026
Compared to the December 2025 forecast, growth in 2026 is expected to be more robust and inflation more persistent.
nyfed.org/4bKgIxs
#AMEC
I saw Chris in May when he was still in Princeton. I meant to visit him in Minneapolis. I didn’t and it is terrible to know that I will never hear his voice again, nor see his piercing eyes. He was my advisor. I owe him all I know. Thank you Chris for your generosity.
1) r* movements in advanced economies have been mainly driven by their global component since the late 80s 2) Global and US r* have both risen by about 1 pps after Covid 3) the decline in the convenience yield for government securities explains about a third of this rise
The latest from @LibertyStEcon
The Post‑Pandemic Global R*
By Marco Del Negro, Elena Elbarmi, and Michael Pham
#AMEC
nyfed.org/4cekZLg
The results in the post are from a Fall 2025 @BrookingsEcon discussion of this very nice paper by @LucaszRachel brookings.edu/wp-content/upl…
n/n
The analysis is based on the “trendy VAR” work joint with @DomenicoGiannon, Marc Giannoni, and @tamba_NYC
brookings.edu/wp-content/upl…
2/n
#AMEC #NYFed will host a symposium on “The K-Shaped Economy” Register and watch it online
newyorkfed.org/research/conf…
1/n
Our next #AMEC symposium focuses on the "K-Shaped Economy," in which some prosper while others face declining outcomes. Presentations will cover evidence of divergence in the data and the implications of divergence for policy.
Register to watch:
nyfed.org/4ayKDJe
… 3) Implications of the K-shaped economy for macroeconomic dynamics and monetary policy (Matthieu Gomez, Pascual Restrepo, @glviolante).
It is organized by Raj Chakrabarti, Nina Boyarchenko, Keshav Dogra, and me. n/n