About

Veronica Guerrieri is the Ronald E. Tarrson Distinguished Service Professor of Economics and Willard Graham Faculty Scholar at the University of Chicago. Her professional title indicates a distinguished position within the university's economics department, reflecting her significant contributions to the field. The page provides her contact information and references her CV/Bio, but does not include specific details about her research focus, background, or key contributions. Therefore, based solely on the provided information, her biography highlights her academic standing and affiliation with the University of Chicago.

Research topics

• Economics
• Monetary economics
• Business
• Microeconomics
• Financial economics

Selected publications

• The Macroeconomic Effects of Neighborhood Policies: a Dynamic Analysis

  SSRN Electronic Journal · 2026-01-01

  preprintOpen access
  PublisherDOI

• The Macroeconomic Effects of Neighborhood Policies: a Dynamic Analysis

  SSRN Electronic Journal · 2026-01-01

  preprintOpen access
  PublisherDOI

• The Macroeconomic Effects of Neighborhood Policies: a Dynamic Analysis

  National Bureau of Economic Research · 2026-01-01

  reportOpen access

  We study the macroeconomic effects of neighborhood-specific policies in a general equilibrium model of a city with endogenous residential sorting and educational investment.A key feature of the model is the presence of endogenous local spillovers that depend on the distribution of families across neighborhoods.We analyze three policies: a housing-voucher policy inspired by the MTO program, which enables poor families to relocate to low-poverty neighborhoods; a place-based transfer (PBT) policy that provides monetary transfers to families in poor neighborhoods; and a place-based investment (PBI) policy that invests resources in local institutions, such as public schools, to directly enhance local spillovers.We find that the MTO policy generates substantial income gains for children of recipient families, but scaling up the program dampens these gains and induces large welfare losses for non-recipients.By contrast, the PBT policy delivers larger average welfare gains but is less effective in reducing inequality and segregation.Finally, the PBI policy produces smaller short-run effects but, over time, resolves the trade-off by raising average welfare while simultaneously reducing inequality, lowering segregation, and improving intergenerational mobility.

  PublisherDOI

• Macroeconomic Uncertainty, the ECB Monetary Policy Stance and their Communication

  Archivio istituzionale della ricerca (Alma Mater Studiorum Università di Bologna) · 2026-01-01

  bookOpen access

  This paper assesses the ECB’s monetary policy stance and communication amid declining inflation, persistent uncertainty, and renewed external risks. It documents how trade-policy shocks and global spillovers affect inflation surprises, highlights substantial cross-country inflation heterogeneity within the euro area, and shows that common shocks generate uneven national responses. Using a novel multi-agent LLM framework, it evaluates ECB communication, revealing strengths during active policy adjustments but gaps in addressing inflation dispersion and uncertainty communication.

  PublisherOA PDF

• Tariffs as Cost-Push Shocks: Implications for Optimal Monetary Policy

  SSRN Electronic Journal · 2025-01-01 · 3 citations

  articleOpen accessSenior author
  PublisherDOI

• Global Price Shocks and International Monetary Coordination

  SSRN Electronic Journal · 2025-01-01

  preprintOpen access1st authorCorresponding
  PublisherDOI

• Global Price Shocks and International Monetary Coordination

  National Bureau of Economic Research · 2025-05-01 · 4 citations

  reportOpen access1st authorCorresponding

  Individual central banks respond to global supply shocks that transmit inflationary pressures-such as oil prices, shipping costs, and bottlenecks in global supply chains-taking these conditions as given.However, their combined global response determines global demand and, thus, the resulting global price pressure.This paper builds a simple monetary open economy model to explore the economic implications of this channel.We show that, following a negative world supply shock, uncoordinated monetary policy may be excessively loose.Our mechanism for this "expansionary bias" applies to an aggregate shock in a symmetric world economy of small open economies having no individual control over their terms of trade.In these ways, it is distinct from asymmetric shocks and terms-of-trade manipulation motives emphasized in the monetary coordination literature.

  PublisherDOI

• Tariffs as Cost-Push Shocks: Implications for Optimal Monetary Policy

  National Bureau of Economic Research · 2025-05-01 · 1 citations

  reportOpen accessSenior author

  We study the optimal monetary policy response to the imposition of tariffs in a model with imported intermediate inputs.In a simple open-economy framework, we show that a tariff maps exactly into a cost-push shock in the standard closed-economy New Keynesian model, shifting the Phillips curve upward.We then characterize optimal monetary policy, showing that it partially accommodates the shock to smooth the transition to a more distorted long-run equilibrium-at the cost of higher short-run inflation.

  PublisherDOI

• The Conduct of ECB Monetary Policy Under International Uncertainty

  Archivio istituzionale della ricerca (Alma Mater Studiorum Università di Bologna) · 2025-01-01

  bookOpen access

  This paper examines ECB monetary policy amid rising international uncertainty. We focus on three global risks: renewed trade protectionism, euro appreciation, and US fiscal fragility. Using inflation forecasts and survey data, we evaluate the ECB’s evolving policy framework. A potential US fiscal crisis poses risks but also creates an opportunity for Europe to supply a global safe asset. We argue that a European Debt Agency issuing common debt could mitigate contagion and enhance Europe’s financial sovereignty

  PublisherOA PDFDOI

• Global Price Shocks and International Monetary Coordination

  SSRN Electronic Journal · 2025-01-01

  articleOpen access1st authorCorresponding
  PublisherDOI

Frequent coauthors

• Guido Lorenzoni

  70 shared

• Péter Kondor

  67 shared

• Joseph Vavra

  University of Chicago

  39 shared

• David Berger

  Duke University

  38 shared

• Iván Werning

  21 shared

• Ludwig Straub

  19 shared

• Robert Shimer

  University of Chicago

  12 shared

• Randall Wright

  Wisconsin School of Professional Psychology

  9 shared

Awards & honors

• Bernácer Prize (2015)
• Carlo Alberto medal (2013)
• Alfred P. Sloan Research Fellowship (2011)
• Excellence Award in Global Economic Affairs (2010) from the…