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Stephen G. Cecchetti

Research Associate (NBER); Brandeis professor · Brandeis University

Economist at Brandeis International Business School working on monetary policy, financial stability and macroeconomics. Headed the Monetary and Economic Department at the BIS and was editor of the Journal of Money, Credit and Banking.

2 papers tracked 2 classics ⌁ Follow this author

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Published Classic Federal Reserve Bank of St. Louis Review Published May 1995

Distinguishing Theories of the Monetary Transmission Mechanism

Stephen G. Cecchetti

This 1995 Federal Reserve Bank of St. Louis Review paper by Stephen Cecchetti surveys the empirical literature attempting to distinguish two competing theories of how monetary policy affects the real …

Monetary Policy Transmission Financial Frictions Banking Credit

Published Classic IMF Economic Review Online 14 Feb 2020 Published Mar 2020

US or Domestic Monetary Policy: Which Matters More for Financial Stability?

Stephen G. Cecchetti · Tommaso Mancini-Griffoli · Machiko Narita · Ratna Sahay

Across nearly 1,000 listed financial firms in 21 countries, prolonged monetary easing raises leverage -- and for non-US firms, sustained easing in the United States raises leverage by more than easing …

Monetary Policy Transmission Financial Stability International Macroprudential Policy Capital Flows

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Career

2013 – present Barbara and Richard M Rosenberg Professor of Global Finance, Brandeis International Business School
2008 – 2013 Economic Adviser and Head of Monetary and Economic Department, Bank for International Settlements
2003 – 2008 Barbara and Richard M Rosenberg Professor of Global Finance, Brandeis International Business School
1997 – 1999 Executive Vice President and Director of Research, Federal Reserve Bank of New York
1987 – 2002 Assistant Professor to Professor, Ohio State University
1982 – 1987 Assistant Professor, New York University Graduate School of Business Administration

Editorial roles

Editor Journal of Money, Credit and Banking1992–2001

Research topics

Monetary Policy Transmission×2 Financial Frictions Banking Credit Financial Stability International Macroprudential Policy Capital Flows

Co-authors in the warehouse

Tommaso Mancini-Griffoli Machiko Narita Ratna Sahay

Profile compiled from public sources, checked 2026-10-04: [1] · [2]