I am Chief of the Macro-Financial Analysis section in the Division of Monetary Affairs at the Board of Governors of the Federal Reserve System.
I was also an adjunct professor at Johns Hopkins University in 2018, and taught Macroeconomic Theory in the Masters' in Applied Economics program.
Here you can find my official webpage at the Board.
My primary research fields are Macroeconomics, Financial Economics and Applied Econometrics.
New FEDS Working Paper "Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms", with Nina Boyarchenko, François Gourio, and Andrea Tambalotti
New FEDS Working Paper "Monetary Policy Tradeoffs and the Federal Reserve's Dual Mandate", with Isabel Cairó, Vasco Cúrdia, Thomas A. Lubik, and Albert Queralto
Core and Crust was accepted for publication in the Review of Financial Studies.
Financial Stability and Optimal Interest-Rate Policy was accepted for publication in the International Journal of Central Banking.
Winter 2016 - 2017
Visited the Chicago Fed and the London School of Economics while on sabbatical leave from the Federal Reserve Board.
Presented 'Term Premium, Credit Risk Premium, and Monetary Policy' at the Chicago Fed, University of York, London School of Economics, Bank of Italy, University of Oxford.
Presented 'Term Premium, Credit Risk Premium, and Monetary Policy'. Find the slides from the Dynare Conference here.
'Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations', was published in the August 2016 volume of the American Economic Review.
Presented new work on Financial Stability and Optimal Interest-Rate Policy at the annual Swiss National Bank Research Conference.
Ben Bernanke reviews our work on financial stability and optimal interest-rate policy on his blog.
Presented new work on Financial Stability and Optimal Interest-Rate Policy at the annual San Francisco Fed Macroeconomic Conference "The New Normal for Monetary Policy".
New Paper Available. Comments are welcome!
Financial Stability and Optimal Interest-Rate Policy, with Thomas Laubach, David López-Salido and Taisuke Nakata
Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations, second revision requested at the American Economic Review.
Core and Crust: Consumer Prices and the Term Structure of Interest Rates was presented at the NBER Summer Institute (Asset Pricing meeting) in Cambridge, MA.
Email: andrea.ajello [at] frb.gov
Title: Section Chief
Board of Governors of the Federal Reserve System,
Division of Monetary Affairs, Macro Financial Analysis
1801 K Street NW
Washington DC, 20006
Last update: April 2015