Guido Lorenzoni

Department of Economics
Northwestern University
2211 Campus Dr
Evanston, IL 60208
Tel: 847/491-8243

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: EFG , IFM , ME
NBER Affiliation: Research Associate
Institutional Affiliation: Northwestern University

NBER Working Papers and Publications

April 2020Risk Sharing Externalities
with Luigi Bocola: w26985
Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?
with Veronica Guerrieri, Ludwig Straub, Iván Werning: w26918
April 2018Comment on "Monetary Policy Analysis When Planning Horizons Are Finite"
in NBER Macroeconomics Annual 2018, volume 33, Martin Eichenbaum and Jonathan A. Parker, editors
November 2017Moral Hazard Misconceptions: the Case of the Greenspan Put
with Gideon Bornstein: w24050

Published: Gideon Bornstein & Guido Lorenzoni, 2018. "Moral Hazard Misconceptions: The Case of the Greenspan Put," IMF Economic Review, vol 66(2), pages 251-286. citation courtesy of

Financial Crises, Dollarization, and Lending of Last Resort in Open Economies
with Luigi Bocola: w23984

Published: Luigi Bocola & Guido Lorenzoni, 2020. "Financial Crises, Dollarization, and Lending of Last Resort in Open Economies," American Economic Review, vol 110(8), pages 2524-2557. citation courtesy of

April 2017Financial Integration and Liquidity Crises
with Fabio Castiglionesi, Fabio Feriozzi: w23359

Published: Fabio Castiglionesi & Fabio Feriozzi & Guido Lorenzoni, 2019. "Financial Integration and Liquidity Crises," Management Science, vol 65(3), pages 955-975. citation courtesy of

February 2017Short-Run Effects of Lower Productivity Growth. A Twist on the Secular Stagnation Hypothesis
with Olivier Blanchard, Jean-Paul L'Huillier: w23160

Published: Olivier Blanchard & Guido Lorenzoni & Jean-Paul L’Huillier, 2017. "Short-run effects of lower productivity growth. A twist on the secular stagnation hypothesis," Journal of Policy Modeling, . citation courtesy of

October 2015House Prices and Consumer Spending
with David Berger, Veronica Guerrieri, Joseph Vavra: w21667

Published: David Berger, Veronica Guerrieri, Guido Lorenzoni, Joseph Vavra; House Prices and Consumer Spending, The Review of Economic Studies, , rdx060, citation courtesy of

July 2014Comment on "Information Aggregation in a Dynamic Stochastic General Equilibrium Model"
in NBER Macroeconomics Annual 2014, Volume 29, Jonathan A. Parker and Michael Woodford, editors
July 2013Slow Moving Debt Crises
with Ivan Werning: w19228

Published: Guido Lorenzoni & Iván Werning, 2019. "Slow Moving Debt Crises," American Economic Review, vol 109(9), pages 3229-3263. citation courtesy of

December 2011A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation
with Arnaud Costinot, Iván Werning: w17680

Published: Arnaud Costinot & Guido Lorenzoni & Iv�n Werning, 2014. "A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation," Journal of Political Economy, University of Chicago Press, vol. 122(1), pages 77 - 128. citation courtesy of

November 2011Credit Crises, Precautionary Savings, and the Liquidity Trap
with Veronica Guerrieri: w17583

Published: Veronica Guerrieri & Guido Lorenzoni, 2017. "Credit Crises, Precautionary Savings, and the Liquidity Trap*," The Quarterly Journal of Economics, vol 132(3), pages 1427-1467. citation courtesy of

November 2010Comment on "Pigou Cycles in Closed and Open Economies with Matching Frictions"
in NBER International Seminar on Macroeconomics 2010, Richard Clarida and Francesco Giavazzi, organizers
April 2010Beauty Contests and Irrational Exuberance: A Neoclassical Approach
with George-Marios Angeletos, Alessandro Pavan: w15883
November 2009Decentralized Trading with Private Information
with Mikhail Golosov, Aleh Tsyvinski: w15513

Published: Mikhail Golosov & Guido Lorenzoni & Aleh Tsyvinski, 2014. "Decentralized Trading With Private Information," Econometrica, Econometric Society, vol. 82(3), pages 1055-1091, 05. citation courtesy of

May 2009News, Noise, and Fluctuations: An Empirical Exploration
with Olivier J. Blanchard, Jean-Paul L'Huillier: w15015

Published: Olivier J. Blanchard & Jean-Paul L'Huillier & Guido Lorenzoni, 2013. "News, Noise, and Fluctuations: An Empirical Exploration," American Economic Review, American Economic Association, vol. 103(7), pages 3045-70, December. citation courtesy of

November 2007Inefficient Credit Booms

Published: Guido Lorenzoni, 2008. "Inefficient Credit Booms," Review of Economic Studies, Blackwell Publishing, vol. 75(3), pages 809-833, 07. citation courtesy of

October 2007Wall Street and Silicon Valley: A Delicate Interaction
with George-Marios Angeletos, Alessandro Pavan: w13475
June 2007Liquidity and Trading Dynamics
with Veronica Guerrieri: w13204

Published: Veronica Guerrieri & Guido Lorenzoni, 2009. "Liquidity and Trading Dynamics," Econometrica, Econometric Society, vol. 77(6), pages 1751-1790, November. citation courtesy of

May 2007Financial Frictions, Investment and Tobin's q
with Karl Walentin: w13092
Why Do Emerging Economies Borrow Short Term?
with Fernando A. Broner, Sergio L. Schmukler: w13076

Published: Fernando A. Broner & Guido Lorenzoni & Sergio L. Schmukler, 2013. "Why Do Emerging Economies Borrow Short Term?," Journal of the European Economic Association, European Economic Association, vol. 11, pages 67-100, 01. citation courtesy of

Persistent Appreciations and Overshooting: A Normative Analysis
with Ricardo J. Caballero: w13077

Published: Ricardo J Caballero & Guido Lorenzoni, 2014. "Persistent Appreciations and Overshooting: A Normative Analysis," IMF Economic Review, Palgrave Macmillan, vol. 62(1), pages 1-47, April. citation courtesy of

February 2007News Shocks and Optimal Monetary Policy
October 2006Bubbles and Self-Enforcing Debt
with Christian Hellwig: w12614

Published: Christian Hellwig & Guido Lorenzoni, 2009. "Bubbles and Self-Enforcing Debt," Econometrica, Econometric Society, vol. 77(4), pages 1137-1164, 07. citation courtesy of

August 2006A Theory of Demand Shocks

Published: Lorenzoni, Guido. "A Theory of Demand Shocks." American Economic Review 99, 5 (2009): 2050-2084. citation courtesy of

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