Simone Arrigoni

Dublin has become a true home, so leaving definitely feels bittersweet. But I’m truly excited to move to Paris, join the amazing Econ community there, and start working on European issues. Exciting times ahead!

See you in Paris, at conferences, or around!🚀

Huge thanks to everyone who supported, advised, and inspired me on this journey! I’ve grown a lot, learned tons, and made lifelong friends. Grateful to my supervisors, the whole faculty at TCD, co-authors, family, friends, and UCD for welcoming me this academic year.

What an incredible journey the PhD has been! Yesterday I graduated from @tcddublin.bsky.social and I'm officially Dr. Arrigoni! 🎓☘️

And as this chapter ends, a new one is about to begin. I’m thrilled to share that in September I will join the @banquedefrance-off.bsky.social as a Research Economist!

🧵 A summary thread on the paper is available here: x.com/simone_arrig...

📑 The full paper can be accessed here (open access): link.springer.com/article/10.1...

Ireland seems to defy the rise of "inheritocracy."

The article links this to rapid economic growth. Our paper finds inheritance in Ireland has little impact on wealth inequality, unlike in Europe, due to inheritances aiding property ownership, rising asset prices, and a wage-rental income shifts.

Fantastic to see @economist.com covering our data and paper, published in The Journal of Economic Inequality (with @taramcindoecalder.bsky.social Laura Boyd)! 🚀

econ.st/41jIFXF

The piece examines inheritance's renewed role in wealth, inequality, and marriage choices, among rich countries.

Today marks the third anniversary of Russia’s unjustified invasion of Ukraine.

We continue to stand with the people of Ukraine, who have been suffering through this horrific aggression.

This is such an amazing effort and a public good for macro research!

x.com/KarstenMueII...

#econsky

The Global Distribution of Authorship in Economics Journals Aigner E, Greenspon J, Rodrik D. The Global Distribution of Authorship in Economics Journals. 2025.

"The Global Distribution of Authorship in Economics Journals" (w/ E Aigner and J Greenspon)--a much revised and updated version now forthcoming at World Development. (Incidentally, my very first academic publication was in that same journal back in 1981!) drodrik.scholar.harvard.edu/publications...

Thank you very much for including my paper!

Grazie Andrea!!

#EconSky

Thank you Rebecca!

My dissertation examines dynamics within and between international macro and wealth/income inequality dimensions.

~ JMP (Ch4): lnkd.in/d5v8xTsm
~ Ch1: lnkd.in/gJUWPn7e (IMF Econ Rev)
~ Ch2: lnkd.in/dtz6prz9 ( J Econ Inequal)
~ Ch3: lnkd.in/d-pnJhD3 (JMacro)

Exciting news! I successfully defended my PhD thesis yesterday at @tcdeconomics.bsky.social ☘️🎉

A huge thanks to the viva commission - Mark Spiegel, Paul Scanlon, @fontananicola.bsky.social - for the invaluable feedback + my supervisors A. Bénétrix & @davideromelli.bsky.social , for their guidance!

I've set up a Starter Park for academic economists in Ireland and those abroad with a strong Irish connection. Keen to add more, esp PhDs and postdocs, so let me know!
(Women make up 50% of the 80 academic economists in Dublin but are a far smaller share of this list so far... Help me fix that!)

I am looking forward to presenting my JMP tomorrow at the Worshop for Young Researchers jointly organised by SNDE & IIF!

Online, tune in if interested in US monetary policy spillovers and inequality!
sndeecon.org/filer/dokume...

Thread of my JMP here: bsky.app/profile/simo...

Recently posted about my JMP, Thanks Khoa!
bsky.app/profile/simo...

People made me notice that if you click on my website link it does not work.
This is because bluesky truncates the https.

Type this full link or you can just use the one in my bio
"https://www.simone-arrigoni.com/home"

🔚 The End! (for now😉)

Huge thanks to my supervisors Agustín Bénétrix & @davideromelli.bsky.social, co-authors, Ph.D. colleagues, and everyone at @tcdeconomics.bsky.social for their invaluable support along the journey!

🌐 More about my research: simone-arrigoni.com
👉 JMP: tinyurl.com/4e2y9598
11/11

⚖️ High US interest rates in recent years underscore the importance of this study. Recipient countries can use these findings to inform policies that mitigate spillover effects (e.g., redistribution, capital controls).

🔮 Future research: spillovers from other CBs, types of monetary policy.

10/11

Model's bottom line: inequality shapes foreign monetary policy spillovers to GDP mainly via the financial channel.

Do the data support this? Yes.
I study the interaction between inequality and financial openness. Financially closed (open): higher inequality = weaker (stronger) spillovers.

9/11

Bond mkt access within-country: constrained ×, unconstrained ✓.
But unconstrained HHs differ btwn countries (home bias, fees,...).

I raise foreign bond holding cost for country 3, now representing an EME. This replicates the empirical result for EMEs: higher inequality = weaker spillovers.

8/11

In the baseline scenario (classic spillover), US monetary tightening causes a GDP contraction in foreign countries, a stronger dollar, and reduced exports.

As in the empirics, higher inequality (higher proportion of constrained households) amplifies negative spillovers in foreign countries.

7/11

Why? 🔍Theoretical framework
Scope: understand what drives the discrepancy of the effects between AEs and EMEs.

Open-economy model of Eichenbaum et al. (2021)
+ household heterogeneity: financially constrained vs unconstrained HHs. Gini generated by income differences between the two HHs.

6/11

🗝️ Results

Inequality does influence how foreign GDP responds to a US tightening. GDP contracts 2/3 times more when inequality is higher than average.

But... Greater inequality amplifies the negative spillover effects to GDP in AEs, while it mitigates them in EMEs.

5/11

📊 Data
- US monetary policy shock: constructed as in Iacoviello & Navarro (2019)
- Disposable income inequality (Gini): SWIID
- GDP: World Bank

📈 Empirical analysis
State-dependent local projections to disentangle average effects from effects at higher inequality (75th/90th percentiles).

4/11

RQ: How does income inequality within foreign economies affect the transmission of US monetary policy to their GDP?

⚙️ Setting:
United States (origin country)
Foreign economies (recipient countries)
- Outcome: GDP
- Inequality amplifies/mitigates spillovers to GDP

3/11

🧩 Background. We know: US monetary policy significantly impacts foreign economies + Household heterogeneity is relevant for domestic monetary policy transmission

However, little is known about how domestic inequality influences the effects of foreign monetary policy shocks.

2/11

📢I'm on the #EconJobMarket!

My #EconJMP studies how inequality in foreign economies shapes the effects of Fed's tightening on their GDP.

Spoiler: higher ineq = larger (smaller) GDP drop in AEs (EMEs). Mainly via financial channel.

👉 tinyurl.com/4e2y9598
🌐 simone-arrigoni.com

#EconSky
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