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Luca Gagliardone

Postdoctoral Fellow · Cowles Foundation, Yale University

Postdoctoral Fellow at Yale's Cowles Foundation for 2025-2027, with a PhD from New York University in 2025. Works on dynamic firm pricing, heterogeneity and real rigidities, and monetary policy.

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Forthcoming American Economic Journal: Macroeconomics

Oil Prices, Monetary Policy and Inflation Surges

Luca Gagliardone · Mark Gertler

Gagliardone and Gertler ask why the US inflation surge that began in mid-2021 was both sudden and persistent, and whether a simple structural model can account for it without targeting inflation in …

Monetary Policy Inflation Macro Dynamics Expectations

Published American Economic Review Online 1 Nov 2025 Published Nov 2025

Anatomy of the Phillips Curve: Micro Evidence and Macro Implications

Luca Gagliardone · Mark Gertler · Simone Lenzu · Joris Tielens

This paper addresses a fundamental puzzle in macroeconomics: why do estimates of the New Keynesian Phillips curve (NKPC) slope differ sharply depending on whether real marginal cost or the output gap …

Monetary Policy Macroeconomics Firm Dynamics Free Read ↗