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Galo Nuño
@NunoGalo
Director General, Institutional and European Relations @BancoDeEspana, Professor @CEMFInews, Fellow @cepr_org, @CESifoNetwork Views are my own.
Madrid, Spain
galonuno.com
Joined November 2020
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    Galo Nuño
    @NunoGalo
    May 18
    Europe's has a big divide between fixed-rate and variable rate banking systems. It offers a great opportunity to understand how loan pricing affects monetary policy transmission. Here is a short 🧵 based on: galonuno.com/uploads/1/3/4/… 1/n (n=11)
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    Galo Nuño
    @NunoGalo
    Sep 13, 2022
    Who are the winners and losers from inflation? This may seem a well-established issue in Economics, but surprisingly, there is still some confusion among pundits, central bankers, and academics. A short-🧵that I hope clarifies certain issues
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    Galo Nuño
    @NunoGalo
    Jul 30, 2022
    Heterogeneous-agent New Keynesian models (HANKs) are at the forefront of research in monetary economics. What do we know about optimal monetary policy in these models? How does household/firm/bank heterogeneity affect MP design? A short (personal and technical) 🧵 1/12
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    Galo Nuño
    @NunoGalo
    Dec 18, 2022
    I am happy to announce that our paper "Financial Frictions and the Wealth Distribution" has been conditionally accepted for publication at @ecmaEditors sas.upenn.edu/~jesusfv/Finan… This paper makes some innovations that I hope will have a durable impact on macro A short 🧵 1/7
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    Galo Nuño
    @NunoGalo
    Dec 19, 2024
    I am happy to announce that I have been appointed Deputy Director General of Financial Stability, Regulation, and Resolution at @BancoDeEspana
    17K
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    Galo Nuño
    @NunoGalo
    Mar 1, 2024
    How does fiscal policy affect monetary policy? Many economists will think of the fiscal theory of the price level (FTPL), but in a new paper we consider an alternative possibility. Join me in a trip to the stars 🧵 1/n (n=12) galonuno.com/uploads/1/3/4/…
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    Galo Nuño
    @NunoGalo
    May 29, 2023
    Central bankers often talk about the natural rate as a structural feature of the economy, dependent on factors such as demographics, productivity... What if monetary policy itself affects the natural rate? A 🧵 based on a new paper tinyurl.com/4cvbjyub 1/n (n=8)
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    Galo Nuño
    @NunoGalo
    Apr 29, 2022
    How do asset purchases by central banks work? Duration risk extraction is typically considered the key channel, but it is hard to square with the European experience during the Covid outbreak. A short thread🧵:
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    Galo Nuño
    @NunoGalo
    Jul 2, 2022
    How does monetary policy interact with debt sustainability? Is sovereign default possible in a country issuing debt in its own currency? Is it desirable? A short thread based on a forthcoming paper in the Journal of the European Economic Association
    Equilibrium objects. The figure shows the equilibrium objects in the repayment segment of debt with $y=1$. It also includes the default frontier (panel (f)). The “baseline model” corresponds to the inflationary regime and the “no inflation” to the no-inflation regime.
    Monetary Policy and Sovereign Debt Sustainability
    From academic.oup.com
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    Galo Nuño
    @NunoGalo
    Nov 29, 2021
    Recent work by @R2Rsquared, @GitaGopinath @skalemliozcan, or @VicoVanasco has found that a decline in real rates increases misallocation. What does it mean for the conduct of monetary policy? A short thread🧵:
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    Galo Nuño
    @NunoGalo
    Nov 1, 2023
    I’m humbled to have been invited to join @cepr_org as a Research Fellow in the Monetary Economics and Fluctuations area. I will try my best to contribute to the work of that amazing group of researchers. Thanks
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    Galo Nuño
    @NunoGalo
    Jul 24, 2024
    How do asset purchases work? I am glad that our paper on that issue has just been accepted at the @JofFinance galonuno.com/uploads/1/3/4/… Here is a short 🧵 1/n (n=8)
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    Galo Nuño
    @NunoGalo
    Oct 22, 2024
    After the recent Nobel prizes, many economists are wondering how recent advances in deep learning may affect economics galonuno.com/uploads/1/3/4/…
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    Galo Nuño
    @NunoGalo
    Oct 22, 2024
    Can deep learning open new avenues for quantitative economics? In a new paper with Jesus Fernandez-Villaverde and Jesse Perla, we argue so. A very short 🧵 1/n (n=4) galonuno.com/uploads/1/3/4/…
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    Galo Nuño
    @NunoGalo
    Sep 11, 2024
    Do you want to solve HANK models with aggregate shocks globally using neural networks? We have posted the replication codes of our paper ´Inequality and the Zero Lower Bound´:
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    GitHub - jmarbet/inequality-zlb
    From github.com
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