Details about Giorgio Topa

E-mail:
Homepage:	http://www.newyorkfed.org/research/economists/topa/index.html
Workplace:	Research and Statistics Group, Federal Reserve Bank of New York, (more information at EDIRC) Federal Reserve Bank of New York, (more information at EDIRC) IZA@LISER Network, Luxembourg Institute of Socio-Economic Research (LISER), (more information at EDIRC)

Access statistics for papers by Giorgio Topa.

Last updated 2026-02-16. Update your information in the RePEc Author Service.

Short-id: pto149

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Working Papers

2026

1. Do Job Postings Show Early Labor‑Market Effects of AI?
   Liberty Street Economics, Federal Reserve Bank of New York

2025

2. How Businesses Set Prices—In Their Own Words
   Liberty Street Economics, Federal Reserve Bank of New York

2024

3. The Anatomy of Labor Demand Pre‑ and Post‑COVID
   Liberty Street Economics, Federal Reserve Bank of New York
4. The Survey of Consumer Expectations: A Look Back at the Past Decade
   Liberty Street Economics, Federal Reserve Bank of New York

2023

5. Consumers’ Perspectives on the Recent Movements in Inflation
   Liberty Street Economics, Federal Reserve Bank of New York View citations (2)
6. Estimates of Cost-Price Passthrough from Business Survey Data
   Staff Reports, Federal Reserve Bank of New York View citations (3)
   Also in Working Papers, Federal Reserve Bank of Cleveland (2023) View citations (3)
   FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2023) View citations (3)
   Working Papers, Federal Reserve Bank of Cleveland (2023) View citations (3)
7. How Do Firms Adjust Prices in a High Inflation Environment?
   Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
8. What Has Driven the Labor Force Participation Gap since February 2020?
   Liberty Street Economics, Federal Reserve Bank of New York View citations (2)
9. Why Do Forecasters Disagree about Their Monetary Policy Expectations?
   Liberty Street Economics, Federal Reserve Bank of New York

2022

10. A New Approach to Assess Inflation Expectations Anchoring Using Strategic Surveys
    Staff Reports, Federal Reserve Bank of New York View citations (21)
    See also Journal Article A new approach to assess inflation expectations anchoring using strategic surveys, Journal of Monetary Economics, Elsevier (2022) View citations (16) (2022)
11. New SCE Charts Include a Measure of Longer-Term Inflation Expectations
    Liberty Street Economics, Federal Reserve Bank of New York
12. The Curious Case of the Rise in Deflation Expectations
    Staff Reports, Federal Reserve Bank of New York
13. What Are Consumers’ Inflation Expectations Telling Us Today?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (2)
14. What Do Consumers Think Will Happen to Inflation?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)

2021

15. COVID-19 and Small Businesses: Uneven Patterns by Race and Income
    Liberty Street Economics, Federal Reserve Bank of New York
16. Have Consumers’ Long-Run Inflation Expectations Become Un-Anchored?
    Liberty Street Economics, Federal Reserve Bank of New York
17. Job Seekers’ Beliefs and the Causes of Long-Term Unemployment
    Liberty Street Economics, Federal Reserve Bank of New York
18. Job seekers’ perceptions and employment prospects: heterogeneity, duration dependence, and bias
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (78)
    Also in CEPR Discussion Papers, Centre for Economic Policy Research (2019) View citations (7)
    NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (15)
    See also Journal Article Job Seekers' Perceptions and Employment Prospects: Heterogeneity, Duration Dependence, and Bias, American Economic Review, American Economic Association (2021) View citations (83) (2021)
19. Racial and Income Gaps in Consumer Spending following COVID-19
    Liberty Street Economics, Federal Reserve Bank of New York
20. The Heterogeneous Impact of Referrals on Labor Market Outcomes
    Working Papers, Federal Reserve Bank of Philadelphia View citations (4)
    Also in Staff Reports, Federal Reserve Bank of New York (2021) View citations (4)

2020

21. Coronavirus Outbreak Sends Consumer Expectations Plummeting
    Liberty Street Economics, Federal Reserve Bank of New York View citations (5)
22. Did State Reopenings Increase Consumer Spending?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (2)
23. How Did Market Perceptions of the FOMC’s Reaction Function Change after the Fed’s Framework Review?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
24. How Did State Reopenings Affect Small Businesses?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
25. How Economic Crises Affect Inflation Beliefs: Evidence from the COVID-19 Pandemic
    Staff Reports, Federal Reserve Bank of New York View citations (7)
    See also Journal Article How economic crises affect inflation beliefs: Evidence from the Covid-19 pandemic, Journal of Economic Behavior & Organization, Elsevier (2021) View citations (67) (2021)
26. How Robust Are Makeup Strategies to Key Alternative Assumptions?
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (14)
27. How Widespread Is the Impact of the COVID-19 Outbreak on Consumer Expectations?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
28. Inflation Expectations in Times of COVID-19
    Liberty Street Economics, Federal Reserve Bank of New York View citations (5)
29. Is the Tide Lifting All Boats? A Closer Look at the Earnings Growth Experiences of U.S. Workers
    Liberty Street Economics, Federal Reserve Bank of New York
30. The Shadow Margins of Labor Market Slack
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article The Shadow Margins of Labor Market Slack, Journal of Money, Credit and Banking, Blackwell Publishing (2020) View citations (15) (2020)

2018

31. Do the Employed Get Better Job Offers?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
32. Job Referrals and Skills
    2018 Meeting Papers, Society for Economic Dynamics View citations (1)
33. Whither Labor Force Participation?
    Liberty Street Economics, Federal Reserve Bank of New York

2017

34. How Do People Find Jobs?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
35. How Much Is Priced In? Market Expectations for FOMC Rate Hikes from Different Angles
    Liberty Street Economics, Federal Reserve Bank of New York
36. Job Search Behavior among the Employed and Non-Employed
    IZA Discussion Papers, IZA Network @ LISER View citations (71)
    Also in 2014 Meeting Papers, Society for Economic Dynamics (2014) View citations (4)
    NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (53)
    2016 Meeting Papers, Society for Economic Dynamics (2016) View citations (5)
    See also Journal Article Job Search Behavior Among the Employed and Non‐Employed, Econometrica, Econometric Society (2022) View citations (41) (2022)
37. Job Search and the Gender Wage Gap
    2017 Meeting Papers, Society for Economic Dynamics View citations (1)

2016

38. An overview of the Survey of Consumer Expectations
    Staff Reports, Federal Reserve Bank of New York View citations (16)
    See also Journal Article An overview of the Survey of Consumer Expectations, Economic Policy Review, Federal Reserve Bank of New York (2017) View citations (74) (2017)
39. How Do People Revise Their Inflation Expectations?
    Liberty Street Economics, Federal Reserve Bank of New York View citations (4)
40. Subjective Intertemporal Substitution
    2016 Meeting Papers, Society for Economic Dynamics View citations (3)
    Also in Staff Reports, Federal Reserve Bank of New York (2015) View citations (30)
    See also Journal Article Subjective intertemporal substitution, Journal of Monetary Economics, Elsevier (2022) View citations (43) (2022)
41. Who Is Driving the Recent Decline in Consumers Inflation Expectations?
    Liberty Street Economics, Federal Reserve Bank of New York
42. Working Hard in the Wrong Place: A Mismatch-Based Explanation to the UK Productivity Puzzle
    IZA Discussion Papers, IZA Network @ LISER View citations (34)
    Also in CEPR Discussion Papers, Centre for Economic Policy Research (2016) View citations (34)
    Staff Reports, Federal Reserve Bank of New York (2016) View citations (27)
    See also Journal Article Working hard in the wrong place: A mismatch-based explanation to the UK productivity puzzle, European Economic Review, Elsevier (2016) View citations (32) (2016)

2015

43. Searching for Higher Wages
    Liberty Street Economics, Federal Reserve Bank of New York
44. The Survey of Consumer Expectations Turns Two!
    Liberty Street Economics, Federal Reserve Bank of New York

2014

45. Do Informal Referrals Lead to Better Matches? Evidence from a Firm's Employee Referral System
    IZA Discussion Papers, IZA Network @ LISER View citations (17)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (25)
    Staff Reports, Federal Reserve Bank of New York (2012) View citations (15)
    See also Journal Article Do Informal Referrals Lead to Better Matches? Evidence from a Firm's Employee Referral System, Journal of Labor Economics, University of Chicago Press (2016) View citations (92) (2016)
46. Neighborhood and Network Effects
    CEPR Discussion Papers, Centre for Economic Policy Research View citations (7)
    See also Chapter Neighborhood and Network Effects, Handbook of Regional and Urban Economics, Elsevier (2015) View citations (52) (2015)
47. Why Is the Job-Finding Rate Still Low?
    Liberty Street Economics, Federal Reserve Bank of New York

2013

48. Introducing the FRBNY Survey of Consumer Expectations: Household Finance Expectations
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
49. Introducing the FRBNY Survey of Consumer Expectations: Labor Market Expectations
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)
50. Introducing the FRBNY Survey of Consumer Expectations: Measuring Price Inflation Expectations
    Liberty Street Economics, Federal Reserve Bank of New York View citations (3)
51. Introducing the FRBNY Survey of Consumer Expectations: Survey Goals, Design and Content
    Liberty Street Economics, Federal Reserve Bank of New York View citations (1)

2012

52. Inflation Expectations and Behavior: Do Survey Respondents Act on their Beliefs?
    2012 Meeting Papers, Society for Economic Dynamics
    Also in Staff Reports, Federal Reserve Bank of New York (2011) View citations (10)
    Liberty Street Economics, Federal Reserve Bank of New York (2011) View citations (34)
    See also Journal Article INFLATION EXPECTATIONS AND BEHAVIOR: DO SURVEY RESPONDENTS ACT ON THEIR BELIEFS?, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2015) View citations (113) (2015)
53. Measuring Mismatch in the US Labor Market
    2012 Meeting Papers, Society for Economic Dynamics View citations (7)
54. Mismatch Unemployment
    CEPR Discussion Papers, Centre for Economic Policy Research View citations (21)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (17)
    Staff Reports, Federal Reserve Bank of New York (2012) View citations (10)
    See also Journal Article Mismatch Unemployment, American Economic Review, American Economic Association (2014) View citations (149) (2014)
55. Nudging Inflation Expectations: An Experiment
    Liberty Street Economics, Federal Reserve Bank of New York
56. The price is right: updating of inflation expectations in a randomized price information experiment
    Staff Reports, Federal Reserve Bank of New York View citations (27)
    See also Journal Article The Price Is Right: Updating Inflation Expectations in a Randomized Price Information Experiment, The Review of Economics and Statistics, MIT Press (2016) View citations (210) (2016)

2011

57. Do Referrals Lead to Better Matches? Evidence from a Firm's Employee
    2011 Meeting Papers, Society for Economic Dynamics View citations (1)
58. Expectations of inflation: the biasing effect of thoughts about specific prices
    Staff Reports, Federal Reserve Bank of New York View citations (60)
    See also Journal Article Expectations of inflation: The biasing effect of thoughts about specific prices, Journal of Economic Psychology, Elsevier (2011) View citations (62) (2011)
59. The Empirical Content of Models with Multiple Equilibria in Economies with Social Interactions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (25)
    Also in Staff Reports, Federal Reserve Bank of New York (2011) View citations (18)
60. What Is Driving the Recent Rise in Consumer Inflation Expectations?
    Liberty Street Economics, Federal Reserve Bank of New York

2010

61. Mismatch in the Labor Market
    2010 Meeting Papers, Society for Economic Dynamics View citations (8)
62. The effect of question wording on reported expectations and perceptions of inflation
    Staff Reports, Federal Reserve Bank of New York View citations (10)

2009

63. Cultural transmission, socialization and the population dynamics of multiple-trait distributions
    PSE-Ecole d'économie de Paris (Postprint), HAL View citations (23)
    Also in Post-Print, HAL (2009) View citations (21)
    See also Journal Article Cultural transmission, socialization and the population dynamics of multiple‐trait distributions, International Journal of Economic Theory, The International Society for Economic Theory (2009) View citations (30) (2009)
64. Household inflation experiences in the U.S.: a comprehensive approach
    Working Paper Series, Federal Reserve Bank of San Francisco View citations (8)
65. Measuring consumer uncertainty about future inflation
    Staff Reports, Federal Reserve Bank of New York View citations (7)
    See also Journal Article Measuring consumer uncertainty about future inflation, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (2011) View citations (79) (2011)
66. Neighborhood Effects: Accomplishments and Looking Beyond Them
    Discussion Papers Series, Department of Economics, Tufts University, Department of Economics, Tufts University View citations (7)
    See also Journal Article NEIGHBORHOOD EFFECTS: ACCOMPLISHMENTS AND LOOKING BEYOND THEM*, Journal of Regional Science, Wiley Blackwell (2010) View citations (49) (2010)
67. Peer Effects vs Personal Preferences in Smoking Choices: Estimating a Social Interactions Model
    2009 Meeting Papers, Society for Economic Dynamics View citations (1)

2008

68. Rethinking the measurement of household inflation expectations: preliminary findings
    Staff Reports, Federal Reserve Bank of New York View citations (38)

2007

69. Risk Sharing, Informal Networks and Living Arrangements
    2007 Meeting Papers, Society for Economic Dynamics

2006

70. The Empirical Content of Models with Multiple Equilibria
    2006 Meeting Papers, Society for Economic Dynamics View citations (1)

2005

71. Place of Work and Place of Residence: Informal Hiring Networks and Labor Market Outcomes
    Working Papers, Economic Growth Center, Yale University View citations (81)
    Also in Working papers, University of Connecticut, Department of Economics (2005) View citations (61)
    Working Papers, U.S. Census Bureau, Center for Economic Studies (2005) View citations (59)
    Center Discussion Papers, Yale University, Economic Growth Center (2005) View citations (58)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (65)
    See also Journal Article Place of Work and Place of Residence: Informal Hiring Networks and Labor Market Outcomes, Journal of Political Economy, University of Chicago Press (2008) View citations (542) (2008)

2001

72. Does Microcredit Reach the Poor and Vulnerable? Evidence from Northern Bangladesh
    CID Working Papers, Center for International Development at Harvard University View citations (6)
    Also in CID Working Papers, Center for International Development at Harvard University (1999) View citations (30)
    Working Papers, Chicago - Graduate School of Business (2000) View citations (2)
    See also Journal Article Does microcredit reach the poor and vulnerable? Evidence from northern Bangladesh, Journal of Development Economics, Elsevier (2003) View citations (143) (2003)

1997

73. Social Interactions, Local Spillovers and Unemployment
    Working Papers, C.V. Starr Center for Applied Economics, New York University View citations (16)
    See also Journal Article Social Interactions, Local Spillovers and Unemployment, The Review of Economic Studies, Review of Economic Studies Ltd (2001) View citations (461) (2001)

Journal Articles

2024

1. Gasoline price changes and consumer inflation expectations: Experimental evidence
   Journal of Economic Behavior & Organization, 2024, 220, (C), 66-80 View citations (4)

2022

2. A new approach to assess inflation expectations anchoring using strategic surveys
   Journal of Monetary Economics, 2022, 129, (S), S82-S101 View citations (16)
   See also Working Paper A New Approach to Assess Inflation Expectations Anchoring Using Strategic Surveys, Staff Reports (2022) View citations (21) (2022)
3. Job Search Behavior Among the Employed and Non‐Employed
   Econometrica, 2022, 90, (4), 1743-1779 View citations (41)
   See also Working Paper Job Search Behavior among the Employed and Non-Employed, IZA Discussion Papers (2017) View citations (71) (2017)
4. Subjective intertemporal substitution
   Journal of Monetary Economics, 2022, 126, (C), 118-133 View citations (43)
   See also Working Paper Subjective Intertemporal Substitution, 2016 Meeting Papers (2016) View citations (3) (2016)

2021

5. How economic crises affect inflation beliefs: Evidence from the Covid-19 pandemic
   Journal of Economic Behavior & Organization, 2021, 189, (C), 443-469 View citations (67)
   See also Working Paper How Economic Crises Affect Inflation Beliefs: Evidence from the COVID-19 Pandemic, Staff Reports (2020) View citations (7) (2020)
6. Job Seekers' Perceptions and Employment Prospects: Heterogeneity, Duration Dependence, and Bias
   American Economic Review, 2021, 111, (1), 324-63 View citations (83)
   See also Working Paper Job seekers’ perceptions and employment prospects: heterogeneity, duration dependence, and bias, LSE Research Online Documents on Economics (2021) View citations (78) (2021)

2020

7. The Shadow Margins of Labor Market Slack
   Journal of Money, Credit and Banking, 2020, 52, (S2), 355-391 View citations (15)
   See also Working Paper The Shadow Margins of Labor Market Slack, NBER Working Papers (2020) View citations (16) (2020)

2019

8. Social and spatial networks in labour markets
   Oxford Review of Economic Policy, 2019, 35, (4), 722-745 View citations (8)

2017

9. An overview of the Survey of Consumer Expectations
   Economic Policy Review, 2017, (23-2), 51-72 View citations (74)
   See also Working Paper An overview of the Survey of Consumer Expectations, Staff Reports (2016) View citations (16) (2016)
10. The Advantages of Probabilistic Survey Questions
    Review of Economic Analysis, 2017, 9, (1), 1-32 View citations (8)

2016

11. Do Informal Referrals Lead to Better Matches? Evidence from a Firm's Employee Referral System
    Journal of Labor Economics, 2016, 34, (1), 161 - 209 View citations (92)
    See also Working Paper Do Informal Referrals Lead to Better Matches? Evidence from a Firm's Employee Referral System, IZA Discussion Papers (2014) View citations (17) (2014)
12. The Price Is Right: Updating Inflation Expectations in a Randomized Price Information Experiment
    The Review of Economics and Statistics, 2016, 98, (3), 503-523 View citations (210)
    See also Working Paper The price is right: updating of inflation expectations in a randomized price information experiment, Staff Reports (2012) View citations (27) (2012)
13. Working hard in the wrong place: A mismatch-based explanation to the UK productivity puzzle
    European Economic Review, 2016, 84, (C), 42-56 View citations (32)
    See also Working Paper Working Hard in the Wrong Place: A Mismatch-Based Explanation to the UK Productivity Puzzle, IZA Discussion Papers (2016) View citations (34) (2016)

2015

14. INFLATION EXPECTATIONS AND BEHAVIOR: DO SURVEY RESPONDENTS ACT ON THEIR BELIEFS?
    International Economic Review, 2015, 56, (2), 505-536