Matteo Cacciatore - Latest

• Time Use and Macroeconomic Uncertainty

  Staff Working Paper 2023-29 Matteo Cacciatore, Stefano Gnocchi, Daniela Hauser

  We estimate the effects of economic uncertainty on time use and discuss its macroeconomic implications. We develop a model to demonstrate that substitution between market and non-market work provides an additional insurance margin to households, weakening precautionary savings and labour supply and lowering aggregate demand, ultimately amplifying the contractionary effects of uncertainty.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Coronavirus disease (COVID-19), Domestic demand and components, Monetary policy and uncertainty JEL Code(s): E, E2, E24, E3, E32, E5, E52, J, J2, J22

• Uncertainty and Monetary Policy Experimentation: Empirical Challenges and Insights from Academic Literature

  Staff Discussion Paper 2022-9 Matteo Cacciatore, Dmitry Matveev, Rodrigo Sekkel

  Central banks face considerable uncertainty when conducting monetary policy. The COVID-19 pandemic brought this issue back to the forefront of policy discussions. We draw from academic literature to review key sources of uncertainty and how they affect the conduct of monetary policy.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Central bank research, Monetary policy and uncertainty, Potential output JEL Code(s): E, E3, E5