Work in Progress
- Great Layoff, Great Retirement and Post-Pandemic Inflation (with G. Ascari and J. Grazzini), R&R at American Economic Journal: Macroeconomics. Featured in VoxEU
- The Impact of Growth on the Transmission of Patience (with D. Delli Gatti, J. Grazzini and F. Panebianco)
- Coordination and the Scarcity Mindset (with A. Cardaci, J. Duffy and J. Grazzini)
- The Case for a 4% Inflation Target: an Experiment with Policymakers (with C. Hommes)
Publications
Great Volatility, Great Moderation and Great Moderation Again
J. Grazzini and D. Massaro (2022). Review of Economic Dynamics, 44, pp. 269 - 283.
Dispersed Information, Social Networks and Aggregate Behavior
J. Grazzini and D. Massaro (2021). Economic Inquiry, 59, pp. 1129 - 1148.
Managing Self-Organization of Expectations through Monetary Policy: a Macro Experiment
T. Assenza, P. Heemeijer, C. Hommes and D. Massaro (2021). Journal of Monetary Economics, 117, pp. 170 - 186.
(Supersedes earlier version "Individual Expectations and Aggregate Macro Behavior").
The Behavioral Economics of Currency Unions: Economic Integration and Monetary Policy
A. Bertasiute, D. Massaro and M. Weber (2020). Journal of Economic Dynamics and Control, 112, art. 103850.
Featured in VoxEU, LSE Business Review
Coordination on Bubbles in Large-group Asset Pricing Experiments
T. Bao, M. Hennequin, C. Hommes and D. Massaro (2020). Journal of Economic Dynamics and Control, 110, art. 103702.
Monetary Policy under Behavioural Expectations: Theory and Experiment
C. Hommes, D. Massaro and M. Weber (2019). European Economic Review, 118, pp. 193 - 212.
Featured in Bloomberg
Behavioural Heterogeneity in U.S. Inflation Dynamics
A. Cornea-Madeira, C. Hommes and D. Massaro (2019). Journal of Business and Economic Statistics, 37, pp. 288 - 300.
Monetary and Fiscal Policy Design at the Zero Lower Bound - Evidence from the Lab
C. Hommes, D. Massaro and I. Salle (2019). Economic Inquiry, 57, pp. 1120 - 1140.
Genetic Algorithm Learning in a New Keynesian Macroeconomic Setup
C. Hommes, T. Makarewicz, D. Massaro and T. Smits (2017). Journal of Evolutionary Economics, 27, pp. 1133 - 1155.
Inflation Targeting, Recursive Inattentiveness and Heterogeneous Beliefs
A. Agliari, D. Massaro, N. Pecora and A. Spelta (2017). Journal of Money, Credit and Banking, 49, pp. 1587 - 1619.
Do Investors Trade Too Much? A Laboratory Experiment
J. Gama, D. Massaro, J. P. Bouchaud, D. Challet and C. Hommes (2017). Journal of Economic Behavior and Organization, 140, pp. 18 - 34.
PQ Strategies in Monopolistic Competition: Some Insights from the Lab
T. Assenza, J. Grazzini, C. Hommes and D. Massaro (2015). Journal of Economic Dynamics and Control, 50, pp. 62 - 77.
Heterogeneous Expectations in Monetary DSGE Models
D.Massaro (2013). Journal of Economic Dynamics and Control, 37, pp. 680 - 692.
(Old version of the paper and corrigendum)
Interest Rate Rules and Macroeconomic Stability under Heterogeneous Expectations
M. Anufriev, T. Assenza, C. Hommes and D. Massaro (2013). Macroeconomic Dynamics, 17, pp. 1574 - 1604.
J. Grazzini and D. Massaro (2022). Review of Economic Dynamics, 44, pp. 269 - 283.
Dispersed Information, Social Networks and Aggregate Behavior
J. Grazzini and D. Massaro (2021). Economic Inquiry, 59, pp. 1129 - 1148.
Managing Self-Organization of Expectations through Monetary Policy: a Macro Experiment
T. Assenza, P. Heemeijer, C. Hommes and D. Massaro (2021). Journal of Monetary Economics, 117, pp. 170 - 186.
(Supersedes earlier version "Individual Expectations and Aggregate Macro Behavior").
The Behavioral Economics of Currency Unions: Economic Integration and Monetary Policy
A. Bertasiute, D. Massaro and M. Weber (2020). Journal of Economic Dynamics and Control, 112, art. 103850.
Featured in VoxEU, LSE Business Review
Coordination on Bubbles in Large-group Asset Pricing Experiments
T. Bao, M. Hennequin, C. Hommes and D. Massaro (2020). Journal of Economic Dynamics and Control, 110, art. 103702.
Monetary Policy under Behavioural Expectations: Theory and Experiment
C. Hommes, D. Massaro and M. Weber (2019). European Economic Review, 118, pp. 193 - 212.
Featured in Bloomberg
Behavioural Heterogeneity in U.S. Inflation Dynamics
A. Cornea-Madeira, C. Hommes and D. Massaro (2019). Journal of Business and Economic Statistics, 37, pp. 288 - 300.
Monetary and Fiscal Policy Design at the Zero Lower Bound - Evidence from the Lab
C. Hommes, D. Massaro and I. Salle (2019). Economic Inquiry, 57, pp. 1120 - 1140.
Genetic Algorithm Learning in a New Keynesian Macroeconomic Setup
C. Hommes, T. Makarewicz, D. Massaro and T. Smits (2017). Journal of Evolutionary Economics, 27, pp. 1133 - 1155.
Inflation Targeting, Recursive Inattentiveness and Heterogeneous Beliefs
A. Agliari, D. Massaro, N. Pecora and A. Spelta (2017). Journal of Money, Credit and Banking, 49, pp. 1587 - 1619.
Do Investors Trade Too Much? A Laboratory Experiment
J. Gama, D. Massaro, J. P. Bouchaud, D. Challet and C. Hommes (2017). Journal of Economic Behavior and Organization, 140, pp. 18 - 34.
PQ Strategies in Monopolistic Competition: Some Insights from the Lab
T. Assenza, J. Grazzini, C. Hommes and D. Massaro (2015). Journal of Economic Dynamics and Control, 50, pp. 62 - 77.
Heterogeneous Expectations in Monetary DSGE Models
D.Massaro (2013). Journal of Economic Dynamics and Control, 37, pp. 680 - 692.
(Old version of the paper and corrigendum)
Interest Rate Rules and Macroeconomic Stability under Heterogeneous Expectations
M. Anufriev, T. Assenza, C. Hommes and D. Massaro (2013). Macroeconomic Dynamics, 17, pp. 1574 - 1604.
Book Chapters
Experiments on Expectations in Macroeconomics and Finance
T. Assenza, T. Bao, C. Hommes and D. Massaro (2014). Experiments in Macroeconomics, J. Duffy (ed.), Vol. 17, Research in Experimental Economics, pp. 11 - 70.
T. Assenza, T. Bao, C. Hommes and D. Massaro (2014). Experiments in Macroeconomics, J. Duffy (ed.), Vol. 17, Research in Experimental Economics, pp. 11 - 70.
