Filippo Ferroni is a policy economist on the macroeconomics team in the economic research department at the Federal Reserve Bank of Chicago. In that position, Ferroni provides research and analysis on macroeconomics and applied econometrics. Prior to joining the Fed, he worked as senior economist at the Banque de France and at the European Commission. Ferroni’s research has been published in the Journal of Econometrics, Journal of Applied Econometrics and Quantitative Economics. Ferroni