Giovanni P. Olivei

photo of Giovanni Olivei
Vice President and Economist
Research Department
T: 617-973-3783
Giovanni.Olivei@bos.frb.org

Primary fields of research:
Macroeconomics, international finance

Giovanni P. Olivei is a vice president in the research department at the Federal Reserve Bank of Boston, where he oversees the macroeconomics/finance section of the department. Olivei’s current research interests are in monetary economics, with particular emphasis on inflation dynamics, and in international finance, including exchange rate and current account dynamics.

Olivei earned his B.A. in economics at Università Commerciale L. Bocconi, Italy, where he graduated summa cum laude. He earned his Ph.D. in economics at Princeton University.

  • Education
  • Work Experience
  • Publications

Education

Ph.D., Princeton University, 1998
Mellon Foundation Pre-Doctoral Research Assistantship, 1997-1998
International Finance Section Summer Fellowship, 1996, 1997

Università Commerciale L. Bocconi Fellowship for Studies in Economics Abroad, 1993-1995

B.A., Università Commerciale L. Bocconi, Italy, Summa Cum Laude, 1992

Work Experience

Federal Reserve Bank of Boston
Vice President, 2008-
Senior Economist and Policy Advisor, 2005-2007
Senior Economist, 2002-2004
Economist, 1998-2002
Princeton University
Part-time Assistant in Instruction in Economics, 1995-1998
Università Commerciale L. Bocconi, Italy
Assistant in Instruction in Economics, 1992-1993

Publications

Refereed journal articles

"Inflation Dynamics When Inflation is Near Zero," with Jeffrey C. Fuhrer and Geoffrey M. B. Tootell. Journal of Money, Credit and Banking 44 (s1): 83-122 (February 2012)

"Wage Setting Patterns and Monetary Policy: International Evidence," with Silvana Tenreyro. Journal of Monetary Economics 57: 785-802 (October 2010).

"Capital Account Liberalization, Financial Depth, and Economic Growth," with Michael Klein. Journal of International Money and Finance 27: 861-875 (October 2008).

"The Timing of Monetary Policy Shocks," with Silvana Tenreyro. American Economic Review 97(3): 636-663 (June 2007).

Other journal articles

Inside and Outside Bounds: Threshold Estimates of the Phillips Curve,” with Michelle L. Barnes. New England Economic Review(2003).

Central Banking in Other Industrialized Countries: Japan’s Approach to Monetary Policy,” with Richard Kopcke and others. New England Economic Review (Second Quarter 2002).

Central Banking in Other Industrialized Countries: Norway’s Approach to Monetary Policy,” with Richard Kopcke and others. New England Economic Review (Second Quarter 2002).

Central Banking in Other Industrialized Countries: Switzerland’s Approach to Monetary Policy,” with Richard Kopcke and others. New England Economic Review (Second Quarter 2002).

Exchange Rates and the Prices of Manufacturing Products Imported into the United States.” New England Economic Review (First Quarter 2002).

The Role of Savings and Investment in Balancing the Current Account: Some Empirical Evidence from the United States.” New England Economic Review (July/August 2000).

Consumption Risk-Sharing Across G-7 Countries.” New England Economic Review (March/April 2000).

Rethinking the International Monetary System: An Overview,” with Jane Sneddon Little. New England Economic Review (November/December 1999).

Why the Interest in Reforming the International Monetary System?” with Jane Sneddon Little. New England Economic Review (September/October 1999).

Books and book chapters

Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective, co-editor with Jeff Fuhrer, Yolanda Kodrzycki, and Jane Sneddon Little, MIT Press 2009.

"The Phillips Curve in Historical Context" with Jeff Fuhrer, Yolanda Kodrzycki, and Jane Sneddon Little in Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective, MIT Press 2009.

Rethinking the International Monetary System, edited with Jane Sneddon Little. Proceedings from the Federal Reserve Bank of Boston Conference Series no. 43, 1999.

Rethinking the International Monetary System: An Overview,” with Jane Sneddon Little, in Rethinking the International Monetary System. Proceedings from the Federal Reserve Bank of Boston Conference Series no. 43, 1999.

Why The Interest in Reform?” with Jane Sneddon Little, in Rethinking the International Monetary System. Proceedings from the Federal Reserve Bank of Boston Conference Series no. 43, 1999.

Working papers and other unpublished papers

"The Forecasting Power of Consumer Attitudes for Consumer Spending", with Michelle L. Barnes. FRB Boston Working Papers Series, paper no. 14-10 (2014).

"An Evaluation of the Federal Reserve Estimates of the Natural Rate of Unemployment in Real Time," with Fabia Gumbau-Brisa. FRB Boston Working Paper Series, paper no. 13-24 (2014).

"The Michigan Surveys of Consumers and Consumer Spending," with Michelle L. Barnes. FRB Boston Public Policy Brief Series, brief no. 13-8 (2013).

"Cyclical versus Secular: Decomposing the Recent Decline in the U.S. Labor Force Participation," with Michelle L. Barnes and Fabia Gumbau-Brisa. FRB Boston Public Policy Brief Series, brief no. 13-2 (2013).

"Do Real-Time Okun's Law Errors Predict GDP Data Revisions?" with Michelle Barnes and Fabia Gumbau-Brisa. FRB Boston Working Papers Series, paper no. 13-3.

"Inflation Dynamics When Inflation is Near Zero," with Jeffrey C. Fuhrer and Geoffrey M. B. Tootell. FRB Boston Working Papesr Series, paper no. 11-17, (2011).

"A Response to Cogley and Sbordone's Comment on "Closed-Form Estimates of the New Keynesian Phillips Curve with Time-Varying Trend Inflation," with Fabia Gumbau-Brisa and Denny Lie. FRB Boston Working Papers Series, paper no. 11-4, (2011).

"Estimation of Forward-Looking Relationships in Closed Form: An Application to the New Keynesian Phillips Curve," with Michelle L. Barnes, Fabia Gumbau-Brisa, and Denny Lie. FRB Boston Working Papers Series, paper no. 11-3, (2011).

"The Estimated Macroeconomic Effects of the Federal Reserve's Large-Scale Treasury Purchase Program," with Jeffrey C. Fuhrer. FRB Boston Public Policy Brief no. 11-2, (2011).

"Wage Setting Patterns and Monetary Policy: International Evidence," with Silvana Tenreyro. FRB Boston Working Papers Series, paper no. 10-8 (2010).

"The Role of Expectations and Output in the Inflation Process: An Empirical Assessment," with Jeffrey C. Fuhrer. FRB Boston Public Policy Brief Series, paper no. 10-2, (2010).

"Closed-Form Estimates of the New Keynesian Phillips Curve with Time-Varying Trend Inflation" with Michelle Barnes, Fabia Gumbau-Brisa and Denny Lie. FRB Boston Working Papers Series, paper no. 09-15, 2009.

"Empirical Estimates of Changing Inflation Dynamics," with Jeff Fuhrer and Geoffrey M. B. Tootell. FRB Boston Working Papers Series, paper no. 09-4 (2009).

Estimating Forward Looking Euler Equations with GMM Estimators: An Optimal Instruments Approach,” with Jeffrey C. Fuhrer. FRB Boston Working Papers Series, paper no. 04-2 (2004).

The Timing of Monetary Policy Shocks,” with Silvana Tenreyro. FRB Boston Working Papers Series, paper no. 04-1 (2004).

Productivity Shocks, Investment, and the Real Interest Rate.” FRB Boston Working Papers Series, paper no. 99-2 (1999).

Fiscal Retrenchments and the Level of Economic Activity.” FRB Boston Working Papers Series, paper no. 99-3 (1999).

Capital Account Liberalization, Financial Depth, and Economic Growth,” with Michael W. Klein. FRB Boston Working Papers Series, paper no. 99-6 (1999).

Capital Account Liberalization, Financial Depth, and Economic Growth,” with Michael W. Klein. NBER Working Paper no. 7384 (1999).

“Government Spending Shocks and the Real Interest Rate Under Alternative Fiscal Regimes.” Princeton University, mimeo (October 1998).

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