Working Papers
Gelain, P. and M., Lorusso (2022). The US banks' balance sheet transmission channel of oil price shocks. Federal Reserve Bank of Cleveland working paper 22-33.
Foroni, F., P., Gelain, and M., Marcellino (2022). The financial accelerator mechanism: does frequency matter? European Central Bank Working Paper No 2637.
Gelain, P., and S., Manganelli (2020). Monetary policy with judgment. European Central Bank Working Paper No 2404.
Furlanetto, Francesco, Gelain, Paolo, and Taheri Sanjani, Marzie (2020). Output gap, monetary policy trade-offs, and financial frictions. Federal Reserve Bank of Cleveland working paper 20-05.
Bluwstein Kristina, Brzoza-Brzezina, Michal, Gelain, Paolo, and Kolasa, Marcin (2019). Multiperiod Loans, Occasionally Binding Constraints, and Monetary Policy: A Quantitative Evaluation. Federal Reserve Bank of Cleveland working paper 19-10.
Furlanetto, Francesco and Gelain Paolo. Structural factors, unemployment and monetary policy: the useful role of the natural rate of interest. Norges Bank Working Paper 17/2016.
Gelain, Paolo, Kevin Lansing, and Gisle J. Natvik. Leaning Against the Credit Cycle. Norges Bank Working Paper 4/2015.
Gelain, Paolo, Kevin Lansing, and Gisle J. Natvik. Explaining the Boom-Bust Cycle in the U.S. Housing Market: A Reverse-Engineering Approach. Working Paper Series 2015-02 Federal Reserve Bank of San Francisco.
Brubakk, Leif, and Gelain, Paolo (2014). Financial Factors and the Macroeconomy - a Policy Model. Norges Bank Staff Memo 10/2014.
Gelain, Paolo and Ilbas, Pelin (2014). Monetary and macroprudential policies in an estimated model with financial intermediation Working Paper Research 258, National Bank of Belgium.
Gelain, Paolo and Guerrazzi, Marco (2014). A demand-driven search model with self-fulfilling expectations: The new `Farmerian' framework under scrutiny. MPRA Paper 55773, University Library of Munich, Germany.
Gelain, Paolo and Lansing, J. Kevin (2013). House Prices, Expectations, and Time-Varying Fundamentals. Working Paper Series 2012-03 Federal Reserve Bank of San Francisco.
Gelain, Paolo, Lansing, J. Kevin, and Mendicino, Caterina (2012). House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy. Working Paper Series 2012-11 Federal Reserve Bank of San Francisco.
Gelain, Paolo and Guerrazzi, Marco (2010). A DSGE Model from the Old Keynesian Economics: an Empirical Investigation. Centre for Dynamic Macroeconomic Analysis working paper 10/14.
Gelain Paolo (2010). The External Finance Premium in the Euro Area: a Useful Indicator for Monetary Policy?. European Central Bank Working paper No 1171.
Gelain, Paolo and Kulikov, Dmitry (2009). An Estimated NK DSGE Model for Estonia. Bank of Estonia Working Paper No 5.
Gelain, Paolo and Kulikov, Dmitry. An Estimated NK DSGE Model with Financial Frictions for Estonia. Bank of Estonia, mimeo.
Gelain, Paolo, Rodriguez-Palenzuela, Diego, and Világi, Balázs. An Estimated Euro-area DSGE Model with Financial Frictions: Empirical Investigation of the Financial Accelerator Mechanism. European Central Bank, mimeo.
Gelain, Paolo, Rodriguez-Palenzuela, Diego, and Világi, Balázs. Optimal Monetary Policy in an Estimated DSGE Model with Financial Frictions. European Central Bank, mimeo.