Nicoletta Batini

Last Updated: February 27, 2019

Nicoletta Batini

Nicoletta Batini is an Italian economist, notable as a scholar of innovative monetary and fiscal policy practices. She pioneered work on the dangers of fiscal austerity and on how to curb debt successfully during financial deleveraging. Prior to the IMF, she was Advisor of the Bank of England’s Monetary Policy Committee, Professor of Economics at the University of Surrey, and Director of the International Economics and Policy Office of the Treasury in Italy. She has handled extensive consultancy roles internationally. She holds a Ph.D. in international finance (Scuola Superiore S. Anna) and a Ph.D. in monetary economics (University of Oxford).

Email: NBATINI@imf.org

Personal WebPage: https://en.wikipedia.org/wiki/Nicoletta_Batini

Country work or Mission Assignment:

France

Sweden

Denmark

Austria

Lithuania

Israel

Canada

United States

Chile

Peru


Field of Expertise:

Monetary Policy

Public Finance

Open Economy Macroeconomics

Labor Economics

Energy and Environmental Economics

Economic Modeling

IMF Books and Working Papers:

Building Back Better: How Big Are Green Spending Multipliers? , Working Paper No. 2021/087 , March 19, 2021

Facing the Global Financial Cycle: What Role for Policy , Working Paper No. 2021/034 , February 12, 2021

Climate Mitigation Policy in Denmark: A Prototype for Other Countries , Working Paper No. 2020/235 , November 12, 2020

Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19 , Working Paper No. 20/181 , September 04, 2020

How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area , Working Paper No. 20/86 , June 05, 2020

Macroeconomic Gains from Reforming the Agri-Food Sector: The Case of France , Working Paper No. 19/41 , February 26, 2019

The Refugee Surge in Europe : Economic Challenges , Staff Discussion Notes No. 16/2 , January 20, 2016

Fiscal Multipliers : Size, Determinants, and Use in Macroeconomic Projections , Technical Notes and Manuals No. 2014/4 , October 02, 2014

A Simple Method to Compute Fiscal Multipliers , Working Paper No. 14/93 , June 09, 2014

Successful Austerity in the United States, Europe and Japan , Working Paper No. 12/190 , July 01, 2012

An Analysis of U.S. Fiscal and Generational Imbalances : Who Will Pay and How? , Working Paper No. 11/72 , April 01, 2011

Interpreting Currency Movements During the Crisis : What's the Role of Interest Rate Differentials? , Working Paper No. 11/14 , January 01, 2011

Informal Labour and Credit Markets: A Survey , Working Paper No. 10/42 , February 01, 2010

"What Should Inflation Targeting Countries Do When Oil Prices Rise and Drop Fast?" , Working Paper No. 09/101 , May 01, 2009

Global Imbalances: The Role of Non-TradableTotal Factor Productivity in Advanced Economies , Working Paper No. 09/63 , March 01, 2009

Monetary and Fiscal Rules in an Emerging Small Open Economy , Working Paper No. 09/22 , January 01, 2009

The Global Impact of Demographic Change , Working Paper No. 06/9 , January 01, 2006

The Domestic and Global Impact of Japan's Policies for Growth , Working Paper No. 05/209 , November 01, 2005

Achieving and Maintaining Price Stability in Nigeria , Working Paper No. 04/97 , June 01, 2004

Publications in Journals (Refereed)

· “Fiscal Buffers, Private Debt and Stagnation: The Good, The Bad and the Ugly” Journal of Macroeconomics, 2018. (with G. Melina and S. Villa).

“Inflation Targeting During Asset and Commodity Price Booms”, 2010, Oxford Review Economic Policy, 26(1):15-35.

“Monetary Rules in Emerging Economies with Financial Market Imperfections”, 2010, in International Dimensions of Monetary Policy, ed. J. Galí and M. Gertler (with P.Levine and J. Pearlman).

“Rebalancing Imbalances through Growth”, 2007, IMF Staff Papers, (with P. Cova, M Pisani and A. Rebucci).

"Optimal Exchange Rate Stabilization in a Dollarized Economy with Inflation Targets," Computing in Economics and Finance, 2006 148, Society for Computational Economics. (with P/ Levine and J. Pearlman).

“Euro Area Inflation Persistence”, 2006, Empirical Economics, 31(4): 977-1002.

"Under What Conditions Can Inflation Targeting Be Adopted? The Experience of Emerging Markets," Central Banking, Analysis, and Economic Policies Book Series, in: F. S. Mishkin, K. Schmidt-Hebbel and N. Loayza (eds.), Monetary Policy under Inflation Targeting, edition 1, volume 11, chapter 12, pages 467-506 Central Bank of Chile (with D. Laxton).

“An Open-Economy New Keynesian Phillips Curve for the UK”, 2005, Journal of Monetary Economics, 52(6): 1061-1071 (with B. Jackson and S. Nickell).

“Robust Control Monetary Policy Rules to Shield against Indeterminacy”, 2006, Journal of Economic Dynamics and Control, 30(9-10): 1491-1526 (with A, Justiniano, P. Levine and J. Pearlman).

“Measuring the UK Short-Run NAIRU”, 2006, Oxford Economic Papers, 58(1): 28-49 (with J. Greenslade).

"U.K.’s Rocky Road to Stability", 2005, in Inflation: Research and Outlook, Frank Columbus (ed.), New York. Also published as Federal Reserve Bank of St. Louis Working Paper No. 2005-020A (with E. Nelson).

“The New-Keynesian Phillips Curve When Inflation Is Non-Stationary: The Case of Canada”, 2005, in Issues in Inflation Targeting , Bank of Canada (with B. Barkbu).

“Monetary Policy Rules for Open Economies”, 2003, Journal of Economic Dynamics and Control, 27(11-12): 2059 – 2094 (with R. Harrison and S. P.Millard).

“Hybrid Price Level and Inflation Targeting Regimes”, 2003, Journal of Money, Credit and Banking, 35(3): 282-300 (with A. Yates).

“A Dynamic Monetary Condition Index for the UK”, 2002, Journal of Policy Modeling, 24(3), 257-281 (with K. Turnbull).

“The Lag from Monetary Policy Actions to Inflation: Friedman Revisited”, 2001, International Finance, 4(3), 381-400 (with E. Nelson).

“Optimal Horizons for Inflation Targeting”, 2000, Journal of Economic Dynamics and Control, March 2000, 891-910 (with E. Nelson).

“Forward-Looking Rules For Monetary Policy”, in J. B. Taylor (ed.),1999, Monetary Policy Rules, University of Chicago Press (with A.G. Haldane).

Nicoletta Batini

Nicoletta Batini is an Italian economist, notable as a scholar of innovative monetary and fiscal policy practices. She pioneered work on the dangers of fiscal austerity and on how to curb debt successfully during financial deleveraging. Prior to the IMF, she was Advisor of the Bank of England’s Monetary Policy Committee, Professor of Economics at the University of Surrey, and Director of the International Economics and Policy Office of the Treasury in Italy. She has handled extensive consultancy roles internationally. She holds a Ph.D. in international finance (Scuola Superiore S. Anna) and a Ph.D. in monetary economics (University of Oxford).

Email: NBATINI@imf.org

Personal WebPage: https://en.wikipedia.org/wiki/Nicoletta_Batini

Country work or Mission Assignment:

France

Sweden

Denmark

Austria

Lithuania

Israel

Canada

United States

Chile

Peru


Field of Expertise:

Monetary Policy

Public Finance

Open Economy Macroeconomics

Labor Economics

Energy and Environmental Economics

Economic Modeling

IMF Books and Working Papers:

Building Back Better: How Big Are Green Spending Multipliers? , Working Paper No. 2021/087 , March 19, 2021

Facing the Global Financial Cycle: What Role for Policy , Working Paper No. 2021/034 , February 12, 2021

Climate Mitigation Policy in Denmark: A Prototype for Other Countries , Working Paper No. 2020/235 , November 12, 2020

Reducing Risk While Sharing It: A Fiscal Recipe for The EU at the Time of COVID-19 , Working Paper No. 20/181 , September 04, 2020

How Loose, How Tight? A Measure of Monetary and Fiscal Stance for the Euro Area , Working Paper No. 20/86 , June 05, 2020

Macroeconomic Gains from Reforming the Agri-Food Sector: The Case of France , Working Paper No. 19/41 , February 26, 2019

The Refugee Surge in Europe : Economic Challenges , Staff Discussion Notes No. 16/2 , January 20, 2016

Fiscal Multipliers : Size, Determinants, and Use in Macroeconomic Projections , Technical Notes and Manuals No. 2014/4 , October 02, 2014

A Simple Method to Compute Fiscal Multipliers , Working Paper No. 14/93 , June 09, 2014

Successful Austerity in the United States, Europe and Japan , Working Paper No. 12/190 , July 01, 2012

An Analysis of U.S. Fiscal and Generational Imbalances : Who Will Pay and How? , Working Paper No. 11/72 , April 01, 2011

Interpreting Currency Movements During the Crisis : What's the Role of Interest Rate Differentials? , Working Paper No. 11/14 , January 01, 2011

Informal Labour and Credit Markets: A Survey , Working Paper No. 10/42 , February 01, 2010

"What Should Inflation Targeting Countries Do When Oil Prices Rise and Drop Fast?" , Working Paper No. 09/101 , May 01, 2009

Global Imbalances: The Role of Non-TradableTotal Factor Productivity in Advanced Economies , Working Paper No. 09/63 , March 01, 2009

Monetary and Fiscal Rules in an Emerging Small Open Economy , Working Paper No. 09/22 , January 01, 2009

The Global Impact of Demographic Change , Working Paper No. 06/9 , January 01, 2006

The Domestic and Global Impact of Japan's Policies for Growth , Working Paper No. 05/209 , November 01, 2005

Achieving and Maintaining Price Stability in Nigeria , Working Paper No. 04/97 , June 01, 2004

Publications in Journals (Refereed)

· “Fiscal Buffers, Private Debt and Stagnation: The Good, The Bad and the Ugly” Journal of Macroeconomics, 2018. (with G. Melina and S. Villa).

“Inflation Targeting During Asset and Commodity Price Booms”, 2010, Oxford Review Economic Policy, 26(1):15-35.

“Monetary Rules in Emerging Economies with Financial Market Imperfections”, 2010, in International Dimensions of Monetary Policy, ed. J. Galí and M. Gertler (with P.Levine and J. Pearlman).

“Rebalancing Imbalances through Growth”, 2007, IMF Staff Papers, (with P. Cova, M Pisani and A. Rebucci).

"Optimal Exchange Rate Stabilization in a Dollarized Economy with Inflation Targets," Computing in Economics and Finance, 2006 148, Society for Computational Economics. (with P/ Levine and J. Pearlman).

“Euro Area Inflation Persistence”, 2006, Empirical Economics, 31(4): 977-1002.

"Under What Conditions Can Inflation Targeting Be Adopted? The Experience of Emerging Markets," Central Banking, Analysis, and Economic Policies Book Series, in: F. S. Mishkin, K. Schmidt-Hebbel and N. Loayza (eds.), Monetary Policy under Inflation Targeting, edition 1, volume 11, chapter 12, pages 467-506 Central Bank of Chile (with D. Laxton).

“An Open-Economy New Keynesian Phillips Curve for the UK”, 2005, Journal of Monetary Economics, 52(6): 1061-1071 (with B. Jackson and S. Nickell).

“Robust Control Monetary Policy Rules to Shield against Indeterminacy”, 2006, Journal of Economic Dynamics and Control, 30(9-10): 1491-1526 (with A, Justiniano, P. Levine and J. Pearlman).

“Measuring the UK Short-Run NAIRU”, 2006, Oxford Economic Papers, 58(1): 28-49 (with J. Greenslade).

"U.K.’s Rocky Road to Stability", 2005, in Inflation: Research and Outlook, Frank Columbus (ed.), New York. Also published as Federal Reserve Bank of St. Louis Working Paper No. 2005-020A (with E. Nelson).

“The New-Keynesian Phillips Curve When Inflation Is Non-Stationary: The Case of Canada”, 2005, in Issues in Inflation Targeting , Bank of Canada (with B. Barkbu).

“Monetary Policy Rules for Open Economies”, 2003, Journal of Economic Dynamics and Control, 27(11-12): 2059 – 2094 (with R. Harrison and S. P.Millard).

“Hybrid Price Level and Inflation Targeting Regimes”, 2003, Journal of Money, Credit and Banking, 35(3): 282-300 (with A. Yates).

“A Dynamic Monetary Condition Index for the UK”, 2002, Journal of Policy Modeling, 24(3), 257-281 (with K. Turnbull).

“The Lag from Monetary Policy Actions to Inflation: Friedman Revisited”, 2001, International Finance, 4(3), 381-400 (with E. Nelson).

“Optimal Horizons for Inflation Targeting”, 2000, Journal of Economic Dynamics and Control, March 2000, 891-910 (with E. Nelson).

“Forward-Looking Rules For Monetary Policy”, in J. B. Taylor (ed.),1999, Monetary Policy Rules, University of Chicago Press (with A.G. Haldane).