Research Economist @NorgesBank. PhD @UABBarcelona. From Verona, Italy. Views are my own.
Joined September 2020
- Tweets 306
- Following 460
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6 Photos and videos
Nicolò Maffei-Faccioli retweeted
Thrilled to share that I have two papers in the May issue of QE. Different papers, but related through the oil market; one on the shale supply, and one via the financial markets. Thanks to my fantastic co-authors: Knut Are Aastveit, @tsgundersen, Yoosoon Chang and Jamie Cross
Quantitative Economics Volume 17, Issue 2 (May 2026) is now online
econometricsociety.org/publi…
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The transatlantic divide in labour’s share of income
@DBergholt, @francescofurla8, @nmaffeifaccioli @NorgesBank, Evi Pappa @uc3m @EconomicsUc3m
ow.ly/zQIh50Z62nL
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Nicolò Maffei-Faccioli retweeted
On the @greg_ip point:
🥁New Working Paper Alert🥁
Why has the European labor income share evolved differently than in the US? A new paper with @DBergholt @nmaffeifaccioli and Evi Pappa explores the "Transatlantic Divide" in labor share dynamics from 1960–2023. #EconTwitter 1/N
Labor's share of output (nonfarm business) fell to 54.1% in the first quarter, the lowest since records begin going back to 1947. "not so good news for society and our politics" - @KrishnaRSGuha
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Nicolò Maffei-Faccioli retweeted
Prof. @nmaffeifaccioli and I are super happy to be @SantAnnaPisa for our annual course on Empirical Macroeconomics. Nicolo’ teaches econometrics of SVAR models while I teach applications (Phillips curve, inflation surge, hysteresis, inequality, labor share, immigration). Pisa 🥰
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This project would not have been possible without the guidance of my supervisor, @FraRavazzolo. I also thank the editor and the two anonymous referees. Finally, I am grateful for the assistance I received from @francescofurla8 and @nmaffeifaccioli
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🥁 Working paper update 🥁 #econtwitter
"Divergent Perceptions, Divergent Pay: Inflation and the Gender Wage Gap"
with @LovisaReiche
Link: norges-bank.no/en/news-event…
We establish a new link between inflation dynamics and the evolution of the gender wage gap.
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We formalize this mechanism within a two-agent New Keynesian search-and-matching model with imperfect information in which women’s pessimistic beliefs about underlying shocks generate their differential response to inflation.
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We are grateful to seminar and conference participants, and to an anonymous referee for the Norges Bank working paper series for extremely useful feedback.
Comments are very welcome. Please check out the paper and share your thoughts!
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Nicolò Maffei-Faccioli retweeted
19 Aug 2025
Forthcoming in AEJ: Macroeconomics: "What Drives the Recent Surge in Inflation? The Historical Decomposition Roller Coaster" by Drago Bergholt, Fabio Canova, Francesco Furlanetto, Nicolò Maffei-Faccioli, and Pål Ulvedal. aeaweb.org/articles?id=10.12…
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27 Oct 2025
Working paper alert 🥁 #econtwitter
"Divergent Perceptions, Divergent Pay: Inflation and the Gender Wage Gap" with @LovisaReiche
Link here: ora.ox.ac.uk/objects/uuid:c0…
We establish a new link between inflation dynamics and the gender wage gap.
We document two facts:
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27 Oct 2025
Fact 2: Women interpret inflation as a signal of deteriorating conditions in the labor market, while men perceive mild improvement.
These divergent beliefs reduce women’s willingness to negotiate, slowing their nominal wage growth relative to men’s.
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27 Oct 2025
To formalize this mechanism, we develop a New Keynesian search-and-matching model where workers do not observe the true nature of the shock and women form ambiguity averse beliefs. The model replicates the observed cyclicality of the gender wage gap.
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Nicolò Maffei-Faccioli retweeted
2 Oct 2025
The one and only Norges Bank PhD internship is back: Come to Oslo to write a paper with us! Deadline for application: November 2. Several papers have reached R&R and WP status over the last year. norges-bank.no/en/topics/Res…
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Nicolò Maffei-Faccioli retweeted
20 Sep 2025
VoxEU column with @DomenicoGiannon
Summary: Real-time GDP releases understated the strength of the post-pandemic recovery in both the EA and the US, masking demand pressures.
cepr.org/voxeu/columns/how-r…
Key chart with real-time predictions of GDP and inflation, and revised data:
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20 Aug 2025
Our paper is out in AEJ Macro!
What drives the recent inflation surge?
#EconTwitter
19 Aug 2025
Forthcoming in AEJ: Macroeconomics: "What Drives the Recent Surge in Inflation? The Historical Decomposition Roller Coaster" by Drago Bergholt, Fabio Canova, Francesco Furlanetto, Nicolò Maffei-Faccioli, and Pål Ulvedal. aeaweb.org/articles?id=10.12…
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20 Aug 2025
What this means: models that exhibit very similar IRFs to demand and supply shocks may imply wildly different historical decompositions of, for example, the recent inflation surge.
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20 Aug 2025
We propose different approaches to shrink the uncertainty around the estimated deterministic component. Once this uncertainty is taken care of, demand shocks are the main drivers of the inflation surge in the United States, the euro area, and in four small open economies.
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