Economist
Research Department
Federal Reserve Bank of Kansas City
1 Memorial Drive
Kansas City, MO 64198
E-mail 
Curriculum Vitae

Roberto M. Billi joined the Federal Reserve Bank of Kansas City in September 2005 as an Economist in the Economic Research Department. He is an expert on optimal inflation goals and the design of monetary policy strategies to manage downside risks in the presence of a zero lower bound on nominal interest rates. He also investigates the effects of monetary and fiscal policy interactions in low-inflation economies.

Mr. Billi was awarded in 2005 a doctorate in economics summa cum laude by Goethe University Frankfurt. He also holds an MSc from the London School of Economics. In 2005 he was a research visitor with the Directorate General Research of the European Central Bank, and in 2004 he was a dissertation intern with the Division of Monetary Affairs at the Federal Reserve Board.

• "Optimal Inflation for the U.S. Economy"
  American Economic Journal: Macroeconomics, forthcoming
  
• "Monetary Conservatism and Fiscal Policy"
  with Klaus Adam, Journal of Monetary Economics, 2008, 55 (8), 1376-1388
• "Discretionary Monetary Policy and the Zero Lower Bound on Nominal Interest Rates"
  with Klaus Adam, Journal of Monetary Economics, 2007, 54 (3), 728-752
• "Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates"
  with Klaus Adam, Journal of Money, Credit, and Banking, 2006, 38 (7), 1877-1905

• "Output Gaps and Monetary Policy at Low Interest Rates" 
  First Quarter 2011
• "Was Monetary Policy Optimal During Past Deflation Scares?" 
  Third Quarter 2009
• "What Is the Optimal Inflation Rate?" 
  with George A. Kahn, Second Quarter 2008

• "Distortionary Fiscal Policy and Monetary Policy Goals" 
  with Klaus Adam, RWP 10-10
• "Price-Level Targeting and Risk Management in a Low-Inflation Economy" 
  RWP 08-09
• "Optimal Inflation for the U.S. Economy" 
  RWP 07-03
• "Monetary Conservatism and Fiscal Policy" 
  with Klaus Adam, RWP 07-01
• "Discretionary Monetary Policy and the Zero Lower Bound on Nominal Interest Rates" 
  with Klaus Adam, RWP 05-08
• "Optimal Monetary Policy under Commitment with a Zero Bound on Nominal Interest Rates" 
  with Klaus Adam, RWP 05-07