Biography

Other Affiliation

International Monetary Fund
Email: nbatini@imf.org

Nicoletta Batini received a Laurea cum laude from the University of Pisa in Economics and a Diploma di Perfezionamento and a Ph.D. in International Finance from the Scuola Superiore di Studi Universitari e di Perfezionamento of Pisa. She then received a Master of Social Sciences in Economics from the University of Birmingham and a degree of Doctor of Philosophy in Economics from the University of Oxford, St. Antony’s College, with a doctoral dissertation focusing on monetary economics in a DSGE context. She joined the Bank of England in the fall of 1997, soon after the Bank was granted operational independence under inflation targeting, and contributed to shaping much of the current monetary policy framework through a series of research and policy papers on inflation targeting. In 1999 she was appointed Research Advisor to the Monetary Policy Committee working with Professor William Buiter, Dr DeAnne Julius and Dr Sushil Wadhwani, and in 2000 with Professor Stephen Nickell.

At the end of 2003 she resigned from the Bank and joined the Research Department of the International Monetary Fund in Washington D.C., working on the Global Economic Model and writing model-based analytical chapters on fiscal and monetary policy, global imbalances and demographics for the World Economic Outlook during 2004-2005. In early 2006 she was appointed Resident Representative of the Fund in Peru where she moved and lives to date. She has worked extensively on emerging markets, keeping an active research agenda on the design of demand policies for advanced economies. She was appointed Professor of Economics at the University of Surrey in 2007 on a part-time basis.

Research Interests

Professor Batini's general research area is in open economy macroeconomics with a particular focus on policy rules, asset prices and inflation dynamics. Other research interests include the study of global imbalances, the macroeconomic impact of demographic change and modelling emerging market economies. She has numerous publications in leading economics journals including the Journal of Monetary Economics, the Journal of Money, Credit and Banking,the Journal of Economic Dynamics and Control, and Oxford Economic Papers. She is editor of a book, Monetary Policy in Emerging Markets and Other Developing Countries. Other activities include: consultancy for Latin American, Central and Eastern European central banks, visiting researcher at the ECB and external member of the Research Council of the Czech National Bank since 2001.

Publications

• “Inflation Targeting During Asset and Commodity Price Booms”, 2010, Oxford Review of Economic Policy, 26(1): 15-35 (with E. Tereanu).
• “Monetary Rules in Emerging Economies with Financial Market Imperfections”, 2009, in International Dimensions of Monetary Policy, J. Galí and M. Gertler (eds.) University of Chicago Press, (with P.Levine and J. Pearlman). Paper presented to the NBER Conference in S'Agaro, Spain, June 11-13, 2007.
• “Productivity and Global Imbalances: The Role of Non-tradable Total Factor Productivity in Advanced Economies”, 2008, IMF Staff Papers, 55: 312–325 (with P. Cova, M Pisani and A. Rebucci).

View more publications since 2007

Selected Working Papers

• “The U.S. Fiscal Gap: Who Should Pay and How?”, 2010, International Monetary Fund Working Paper, forthcoming July 2010 (with G. Callegari and J. Guerreiro).

• “Production and Jobs: Can We Have One Without the Other?”, 2010, International Monetary Fund Working Paper, forthcoming June 2010 (with M. Estevao and G. Keim).
• “Interpreting Currency Movements During the Crisis; What’s the Role of Interest Rate Differentials?”, 2010, International Monetary Fund Working Paper, forthcoming July 2010 (with T. Dowling).
• “Informality and Optimal Monetary Policy”, 2010, International Monetary Fund Working Paper, forthcoming July 2010 (with P. Levine, E. Lotti and B. Yang).
• “A Floating Versus Managed Exchange Rate Regime in a DSGE Model of India”, 2010, University of Surrey, DP in Economics DP 04/10.
• “The Costs and Benefits of Informalization in a Two-Sector New Keynesian Model”, 2010, International Monetary Fund Working Paper, forthcoming July 2010 (with P. Levine and E. Lotti).
• “Informal Labor and Credit Markets: A Survey”, 2010, International Monetary Fund Working Paper, 10/42 (with P. Levine, K. Young-Bae, E. Lotti).
• "What Should Inflation Targeting Countries Do When Oil Prices Rise and Drop Fast?", 2009, International Monetary Fund Working Paper, 09/101 (with E. Tereanu).
• “Monetary and Fiscal Rules in a Two-Country Model with Financial Frictions”, 2009, International Monetary Fund Working Paper, 09/22 (with P. Levine and J. Pearlman).
• “Inflation Persistence in Latin America”, 2006, International Monetary Fund Working Paper, forthcoming. Paper presented at LACEA 2006, Mexico City. IMF Working Paper, forthcoming (with R.. Garcia Saltos, B. Barkbu).
• “Inflation Targeting and the IMF”, 2006, Board Paper, International Monetary Fund (with N. Batini, P. Breuer, K. Kochhar, and S. Roger).
• “Demographic Change and the Global Economy”, 2006, International Monetary Fund Working Paper 06/9, (with T. Callen and W. McKibbin).
• “The Domestic and Global Impact of Japan’s Policies for Growth”, 2006, International Monetary Fund Working Paper  05/209, also published as Proceedings from Federal Reserve Bank of San Francisco Pacific Basin Conference (with P. N’Diaye and A. Rebucci).
• “Indeterminacy with Inflation-Forecast-Based Rules in the Large Open Economy”, 2005, ECB Discussion Paper no. 340 and FRB Discussion paper no. 794.(with P.Levine, and J. Pearlman). Presented at the International Research Forum on Monetary Policy in Washington, DC, November, 2003.
• “Unique and Stable Equilibria with Forward-Looking Rules in a Two-Country Model”, 2005, Federal Reserve Board International Finance Discussion Papers No. 797 (with P. Levine and J.Pearlman).