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 Jordi Galí 

Jordi Galí

PhD, Massachusetts Institute of Technology
Director, CREI; Barcelona GSE Research Professor
Barcelona GSE Affiliated Professor
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Macroeconomic Policy and Financial Markets, GPEFM, International Trade, Finance, and Development


Prof. Galí earned his PhD in Economics at the Massachusetts Institute of Technology (MIT) in 1989. Prior to joining the Barcelona economics community, he held academic positions at New York University and Columbia University, and was Visiting Professor at MIT.

In 2005 Prof. Galí received the Yrjö Jahnsson Award in Economics. He also won the Rei Jaume I Prize for Economics (2004), the VII Prize of the Catalan Society of Economics (2008) and the Catalan National Research Prize (2011).

His main areas of research are macroeconomics, monetary theory, and macroeconometrics. His influential findings have had a large impact on a variety of topics, particularly business cycles, inflation, exchange rates and the conduct of monetary policy.

Prof. Galí has been cited as the most productive Spanish researcher from 1990-2004 (“Publishing Performance of Spanish Academics: 1970-2004” by D. Rodriguez, Spanish Economic Review, 2006). He has also been ranked as the 8th most cited researcher worldwide in Economics and Business (Thomson Scientific’s Essential Science Indicators SM, data from January 1997-October 2007).

Prof. Galí is Fellow of the Econometric Society and member of the Council of the European Economic Association (EEA). He has served as Vice President of the EEA and was President of that organization in 2012.

Prof. Galí holds Research positions at the Center for Economic Policy Research (CEPR) in London, and at the US National Bureau of Economic Research (NBER).

In addition to being a Research Professor at the Barcelona GSE and Professor at the UPF, Prof. Galí is Director of the Centre for Research in International Economics (CREI).

 Research interests:

Macroeconomic theory
Monetary economics

 Selected publications:


Unemployment Fluctuations and Stabilization Policies: A New Keynesian Perspective (MIT Press, 2011).

Monetary Policy, Inflation, and the Business Cycle (Princeton University Press, 2008).

Journal Articles

The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence (with L. Gambetti), American Economic Journal: Macroeconomics, forthcoming

Patterns of Convergence and Divergence in the Euro Area (with A. Estrada and D. López-Salido), IMF Economic Review, vol. 61(4), 601-630, 2013

Monetary Policy and Rational Asset Price Bubbles, American Economic Review, vol. 104(3), 721-752, 2014

Perceptions and Misperceptions of Fiscal Inflation: A Comment, in A. Alesina and F. Giavazzi eds. Fiscal Policy after the Financial Crisis, The University Chicago Press, 299-305, 2013

 Working papers:

Hysteresis and the European Unemployment Problem Revisited (June 2015)
by Jordi Galí

The Effects of a Money-Financed Fiscal Stimulus (September 2014)
by Jordi Galí

Understanding the Gains from Wage Flexibility: The Exchange Rate Connection (December 2013)
by Jordi Galí, Tommaso Monacelli