Tommaso Monacelli Awarded a Research Grant by the Fondation Banque de France

Tommaso Monacelli, Department of Economics, has been awarded one of the four research grants assigned this year by the Fondation Banque de France. The grant was awarded to his research, to be developed with Jordi Galí of the Centre de Recerca en Economia Internacional (CREI), on the theme of wage flexibility.

The Fondation Banque de France awards each year 4 research grants, for a total 120,000 euro, for projects that may take 12-18 months on topics relative to policy-relevant work on money, finance and banking. The project should aim to produce a single paper suitable for submission to a major journal and the researchers will present their work at a seminar at the Banque de France.

The project of Monacelli and Galí will analyse the virtues of greater wage flexibility in economies which are part of a currency union.