Daniela Puzzello - Latest

• Is Money Essential? An Experimental Approach

  Staff Working Paper 2023-39 Janet Hua Jiang, Peter Norman, Daniela Puzzello, Bruno Sultanum, Randall Wright

  Monetary theory says that money is essential if it helps to achieve better incentive-feasible outcomes. We test this in the laboratory.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Economic models JEL Code(s): C, C9, C92, E, E4, E5

• Inflation, Output, and Welfare in the Laboratory

  Staff Working Paper 2023-11 Janet Hua Jiang, Daniela Puzzello, Cathy Zhang

  We investigate the effect of inflation on output and welfare in the laboratory. Consistent with monetary theory, we find that inflation acts as a tax on monetary exchange and reduces output and welfare.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Inflation: costs and benefits, Monetary policy JEL Code(s): C, C9, C92, D, D8, D83, E, E4, E40

• How Long is Forever in the Laboratory? Three Implementations of an Infinite-Horizon Monetary Economy

  Staff Working Paper 2021-16 Janet Hua Jiang, Daniela Puzzello, Cathy Zhang

  Standard monetary models adopt an infinite horizon with discounting. Testing these models in the lab requires implementing this horizon within a limited time frame. We compare three approaches to such an implementation and discuss their relative advantages.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Economic models, Inflation and prices JEL Code(s): C, C9, C92, D, D8, D83, E, E4, E40