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Terlizzese, Daniele

Overview
Works: 34 works in 104 publications in 2 languages and 535 library holdings
Roles: Author, Honoree
Classifications: HG3879, 332.042
Publication Timeline
Key
Publications about Daniele Terlizzese
Publications by Daniele Terlizzese
Most widely held works by Daniele Terlizzese
Earnings uncertainty and precautionary saving by Luigi Guiso( Book )
11 editions published between 1989 and 1992 in English and Italian and held by 64 libraries worldwide
How deep are the deep parameters? by Filippo Altissimo( Book )
5 editions published in 1999 in English and Italian and held by 45 libraries worldwide
Young households' saving and the life cycle of opportunities : evidence from Japan and Italy by Albert Ando( Book )
7 editions published in 1992 in English and held by 44 libraries worldwide
Why is Italy's saving rate so high? by Luigi Guiso( Book )
10 editions published in 1992 in English and held by 44 libraries worldwide
Are model-based inflation forecasts used in monetary policymaking? : a case study by Stefano Siviero( Book )
6 editions published in 1999 in English and Italian and held by 42 libraries worldwide
Macroeconomic forecasting : debunking a few old wives' tales by Stefano Siviero( Book )
5 editions published between 2001 and 2008 in English and held by 40 libraries worldwide
The forecasting profession, especially when producing forecasts intended to support economic policy, does not currently enjoy a good reputation. Complaints are sometimes voiced about its lack of scientific discipline, which in turn implies that the forecast results may be viewed as arbitrary. At other times, it is the excessively mechanical nature of the forecasting process which is criticised, on the grounds that it prevents a proper evaluation of any information concerning changes that alter the functioning of the economic system. Moreover, the use of structural models is often deemed superfluous, or even dangerous, and reduced forms are suggested as a preferable alternative. Drawing on the actual forecasting experience at the Bank of Italy, this paper argues that these views stem largely from a biased perception of how forecasting works, what it consists of and which goals it pursues. In particular, forecasting does not simply amount to producing a set of figures: rather, it aims at assembling a fullyfledged view - one may call it a "story behind the figures" - of what could happen: a story that has to be internally consistent, whose logical plausibility can be assessed, whose structure is sufficiently articulated to allow one to make a systematic comparison with the wealth of information that accumulates as time goes by. This implies that the forecasts are not the result of a black-box process that completely lacks discipline; neither are they the outcome of a purely mechanical process that cannot take new information into account. This paper tries to show that forecasting can be rigorous, not mechanical, informative, and useful even in the face of unprecedented situations
On incentive-compatible sharing contracts by Daniele Terlizzese( Book )
6 editions published in 1989 in English and held by 39 libraries worldwide
Time consistency and subgame perfection : the difference between promises and threats by Luigi Guiso( Book )
8 editions published in 1990 in English and Italian and held by 39 libraries worldwide
Delegated screening and reputation in a theory of financial intermediaries by Daniele Terlizzese( Book )
8 editions published in 1988 in English and Italian and held by 37 libraries worldwide
Economia dell'incertezza e dell'informazione : scelte individuali - mercati - contratti by Luigi Guiso( Book )
2 editions published in 1994 in Italian and held by 28 libraries worldwide
Why is Italy's savings rate so high? by Luigi Guiso( Book )
2 editions published in 1991 in English and held by 14 libraries worldwide
Shocks temporanei e aggiustamento dinamico: una interpretazione contrattuale della CIG by Luigi Guiso( Book )
4 editions published in 1987 in Italian and held by 14 libraries worldwide
I canali di trasmissione della politica monetaria nel modello econometrico trimestrale della Banca d'Italia by Sergio Nicoletti Altimari( Book )
1 edition published in 1997 in Italian and held by 13 libraries worldwide
Facoltà di scelta : una modesta proposta per salvare l'università italiana by Andrea Ichino( Book )
3 editions published in 2013 in Italian and held by 11 libraries worldwide
Macroeconomic Forecasting : Debunking a Few Old Wives' Tales by Stefano Siviero( Article )
2 editions published in 2008 in English and held by 10 libraries worldwide
The forecasting profession, especially when producing forecasts intended to support economic policy, does not currently enjoy a good reputation. Complaints are sometimes voiced about its lack of scientific discipline, which in turn implies that the forecast results may be viewed as arbitrary. At other times, it is the excessively mechanical nature of the forecasting process which is criticised, on the grounds that it prevents a proper evaluation of any information concerning changes that alter the functioning of the economic system. Moreover, the use of structural models is often deemed superfluous, or even dangerous, and reduced forms are suggested as a preferable alternative. Drawing on the actual forecasting experience at the Bank of Italy, this paper argues that these views stem largely from a biased perception of how forecasting works, what it consists of and which goals it pursues. In particular, forecasting does not simply amount to producing a set of figures: rather, it aims at assembling a fullyfledged view - one may call it a "story behind the figures"--Of what could happen: a story that has to be internally consistent, whose logical plausibility can be assessed, whose structure is sufficiently articulated to allow one to make a systematic comparison with the wealth of information that accumulates as time goes by. This implies that the forecasts are not the result of a black-box process that completely lacks discipline; neither are they the outcome of a purely mechanical process that cannot take new information into account. This paper tries to show that forecasting can be rigorous, not mechanical, informative, and useful even in the face of unprecedented situations
Monetary transmission in the Euro area : does the interest rate channel explain all? by Ignazio Angeloni( Book )
4 editions published in 2003 in English and held by 7 libraries worldwide
Drawing on recent Eurosystem research that uses a range of econometric techniques and a number of new data sets, we propose a comprehensive description of how monetary policy affects the euro area economy. We focus mainly on three questions: (1) what are the stylized facts concerning the transmission of monetary policy for the area as a whole and for individual countries? (2) can the classic' interest rate channel (IRC) alone, without capital market imperfections, explain these facts? (3) if not, is the bank lending channel a likely candidate to complete the story? We find plausible euro-area wide monetary policy responses for prices and output that are similar to those generally reported for the U.S. However, investment (relative to consumption) seems to play a larger role in euro area monetary policy transmission than in the U.S. We cannot reject the hypothesis that the IRC completely characterizes transmission in a few countries, and estimate it to be substantial in almost all. Where the IRC is not dominant, there is normally some direct evidence supporting the presence of a bank lending channel (or other financial transmission channel). The cases where financial effects appear important can be further split according to whether they primarily relate to consumption or investment
Monetary transmission in the Euro area : where do we stand? by Ignazio Angeloni( Book )
1 edition published in 2002 in English and held by 6 libraries worldwide
Aspettative e politica economica by Luigi Guiso( Article )
in Italian and held by 2 libraries worldwide
Il modello econometrico della Banca d' Italia : una versione in scala 1:15 by Daniele Terlizzese( Article )
1 edition published in 1994 in Italian and held by 2 libraries worldwide
The output composition puzzle : a difference in the monetary transmission mechanism in the Euro area and U.S. by Ignazio Angeloni( Book )
3 editions published in 2003 in English and held by 2 libraries worldwide
We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the predominant driver of output changes, while in the U.S. consumption shifts are significantly more important. We dub this difference the output composition puzzle and explore its implications and several potential explanations for it. While the evidence seems to point at differences in consumption responses, rather than investment, as the proximate cause for this fact, the source of the consumption difference remains a puzzle
 
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Alternative Names
Terlizzese, D.
Terlizzese, D. (Daniele)
Languages
English (72)
Italian (18)
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