Orari di ricevimento
Previo appuntamento via email
Curriculum
Professional appointments
Since Nov 2024:Vice-Dean, Faculty of Political Sciences, Sociology, Communication, Sapienza Università di Roma
Since Sep 2016: Professor of Economics (SECS-P/01), Dep.t of Social Science and Economics, Sapienza Università di Roma
Jul - Dec 2021: Principal Economist, DG-R, Monetary Policy Research Division, European Central Bank
2010 - 2016: Associate Professor of Economics (SECS-P/01), Dep.t of Social Science and Economics, Sapienza Università di Roma
2007 - 2010: Assistant Professor of Economics (SECS-P/01), Faculty of Law, Università degli Studi di Roma “Tor Vergata”
Other professional positions and affiliations
Since Jun 2019: Member of Advisory Board, EURISPES Research Institute
Since Oct 2017: Member of Executive Board, Raffaele D’Addario Foundation, Sapienza Università di Roma
Since 2011: Member of Managing Board, Arcelli Center for Monetary and Financial Studies (CASMEF)
2018 - 2024: Member of Advisory Board, Centro Europa Ricerche
2018 - 2021: Vice-Dean, Faculty of Political Sciences, Sociology, Communication, Sapienza Università di Roma
2015 - 2019: Member of Executive Board, ESPERO Pension Fund
Fellow Euro Area Business Cycle Network (EABCN)
Member American Economic Association, European Economic Association, Royal Economic Society
Main research interests
Dynamic Stochastic General Equilibrium (DSGE) Models for Monetary and Fiscal Policy analysis, Central Banking, Open-Economy Macroeconomics, International Finance
Education
Jan 2004: Ph.D. in Economics (Dottorato di Ricerca in Economia delle Istituzioni e dei Mercati Monetari e Finanziari),
Università degli Studi di Roma “Tor Vergata”
Jul 1998: B.A. in Economics (Laurea Summa cum Laude), LUISS Guido Carli, Rome
Visiting positions
2020: Department of Economics, University of Melbourne, Melbourne AUS, Short-term Visiting Scholar
2017: CREI, Universitat Pompeu Fabra, Barcelona ESP, Visiting Researcher
2014: School of Economics, Drexel University, Philadelphia USA, Short-term Visiting Scholar
2010: Department of Economics, Northwestern University, Evanston USA, Short-term Visiting Scholar
2009: Department of Economics, New York University, New York USA, Research Scholar
2006: Department of Economics, New York University, New York USA, Post-Doc Research Scholar
2002: Warwick Business School, University of Warwick, Coventry UK, Visiting Scholar
1996-1997: Department of Economics, University of Exeter, Exeter UK, Visiting Student
Teaching (selected)
since 2018: Advanced Macroeconomics, Dep.t of Social Science and Economics, Sapienza Università di Roma
since 2018: Macroeconomics, Dep.t of Social Science and Economics, Sapienza Università di Roma
since 2016: Topics in Advanced Macroeconomics (PhD), Doctoral School of Economics, Sapienza Università di Roma
2018 - 2021: Monetary Policy and Central Bank’s Watching, EDHEC Business School, MSc Financial Economics, Nice
2015 - 2018: Monetary Economics and Policy, Dep.t of Social Science and Economics, Sapienza Università di Roma
2013 - 2018: International Money and Finance, Dep.t of Social Science and Economics, Sapienza Università di Roma
2016: Advanced Macroeconomics (joint with A. Riboni), Dep.t of Economics and Finance, Master Program, LUISS Guido Carli
2011 - 2015: Topics in International Finance, Doctoral School of Economics, Sapienza Università di Roma
2013 - 2014: Monetary Policy and Central Banking, ALMA Mater Graduate School, MBA Program, Università di Bologna
2013 - 2014: International Monetary Economics, Dep.t of Social Science and Economics, Sapienza Università di Roma
2010 - 2013: Principles of Economics, Dep.t of Political Sciences, Sapienza Università di Roma
2008 - 2010: Macroeconomics, Faculty of Economics, LUISS Guido Carli
2006 - 2008: Monetary Economics, Faculty of Economics, LUISS Guido Carli
Honors, awards and grants (selected)
2022 - 2025: PRIN 2020, Scientific Coordinator of local unit, “Persistent Slumps, Policy, and Heterogeneity”
2017 - 2020: PRIN 2015, Research Associate to local unit, “The Architecture of Markets and Institutions after the Crisis: Theoretical Foundations and Policy Implications”
2014 - 2019: ERC Consolidator Grant, Investigator (P.I. Pierpaolo Benigno), “MONPMOD: New Directions for Monetary Policy Analysis”
2014: Sapienza Research Grant, Principal Investigator, “Conventional and unconventional policies in financial crises”
2013: Sapienza Research Grant, Principal Investigator, “Macroeconomic policies in the aftermath of the sovereign crisis”
2011: ”Sapienza Ricerca” 2011 Award for Excellence in Research, Sapienza Università di Roma
2013 - 2016: PRIN 2010, Research Associate to local unit, “Asimmetrie informative, costi di aggiustamento ed efficienza allocativa: fondamenti microeconomici e implicazioni macroeconomiche”
2009 - 2014: ERC Starting Grant, Investigator (P.I. Pierpaolo Benigno), “MACROMOD: Advanced Issues in Macroeconomic Modeling”
2010 - 2012: PRIN 2008, Research Associate to local unit, “Implicazioni macroeconomiche e costi sociali dei mercati finanziari imperfetti: Profili teorici, politiche economiche e analisi empiriche”
2007: Post-Doc Research Fellowship, Dep.t of Economics, Università “G. D’Annunzio”, Pescara
2008 - 2010: PRIN 2006, Research Associate to local unit, “L'importanza delle imperfezioni nei mercati finanziari per la stabilità, la crescita e le politiche economiche”
2002 - 2006: Post-Doc Research Fellowship, Dep.t of Economics and Business, LUISS Guido Carli
1998: Gold Medal and Distinction for Dissertation Thesis, LUISS Guido Carli
Working papers and work in progress
2022: “Unconventional Policy and Idiosyncratic Risk”, DISSE Working Paper n.7/2022, October 2022
with Marialaura Seccareccia
2020: “The U-Shaped Growth Equation”, in progress
with Marco D’Amico
Peer-reviewed publications
2025: “The Economics of Helicopter Money”
Journal of Monetary Economics*, forthcoming
with Pierpaolo Benigno
2024: “Optimal Monetary Policy and Rational Asset Bubbles”
European Economic Review*, vol. 170 (10), 104851
with Jacopo Bonchi
2020: “Non-Neutrality of Open-Market Operations”
American Economic Journal: Macroeconomics*, vol. 12 (3), pp. 175-226
with Pierpaolo Benigno
2018: “Government Spending and the Exchange Rate”
International Review of Economics and Finance*, vol. 54, pp. 55-73
with Giorgio Di Giorgio and Guido Traficante
2017: “Safe Assets, Liquidity and Monetary Policy”
American Economic Journal: Macroeconomics*, vol. 9 (2), pp. 1-47 (lead article)
with Pierpaolo Benigno
2016: “Optimal Monetary Policy and Financial Stability in a non-Ricardian Economy”
Journal of the European Economic Association*, vol. 14 (5), pp. 1225-1252
2015: “Fiscal Shocks and the Exchange Rate in a Generalized Redux Model”
Economic Notes, vol. 44 (3), pp. 419-435
with Giorgio Di Giorgio and Guido Traficante
2015: “Learning, Monetary Policy and Asset Prices”
Journal of Money, Credit and Banking*, vol. 47 (7), pp. 1273-1307
with Marco Airaudo and Luis Felipe Zanna
2013: “Second-Order Approximation of Dynamic Models with Time-Varying Risk”
Journal of Economic Dynamics and Control*, vol. 37 (7), pp. 1231-47 (lead article)
with Gianluca Benigno and Pierpaolo Benigno
2013: “Productivity Shocks, Stabilization Policies and the Dynamics of Net Foreign Assets”
Journal of Economic Dynamics and Control*, vol. 37 (1), pp. 210-230
with Giorgio Di Giorgio
2012: “Monetary Policy and Stock-Price Dynamics in a DSGE Framework”
Journal of Macroeconomics*, vol. 34 (1), pp. 126-146
2012: “International Portfolio Allocation under Model Uncertainty”
American Economic Journal: Macroeconomics*, vol. 4 (1), pp. 144-189
with Pierpaolo Benigno
2012: “Risk, Monetary Policy and the Exchange Rate”
NBER Macroeconomics Annual 2011, vol. 26, pp. 247-309, (D. Acemoglu and M. Woodford eds.), University of Chicago Press
with Gianluca Benigno and Pierpaolo Benigno
2010: “Stock Market Conditions and Monetary Policy in a DSGE Model for the U.S.”
Journal of Economic Dynamics and Control*, vol. 34 (9), pp. 1700-1731
with Efrem Castelnuovo
2010: “Trend Growth and Optimal Monetary Policy”
Journal of Macroeconomics*, vol. 32 (3), pp. 797-815
with Fabrizio Mattesini
2007: “Monetary Policy and Stock Prices in an Open Economy”
Journal of Money, Credit and Banking*, vol. 39 (8), pp. 1947-1985
with Giorgio Di Giorgio
2007: “The Welfare Loss from Unstable Inflation”
Economics Letters*, vol. 96 (1), pp. 51-57
* “Class A” journal according to the Italian Ranking of Economics Journals (ANVUR)
Books and other publications
2024: “Recensione di `La Missione Possibile', di Luigi Marattin”
Libro Aperto, n. 119, pp. 215-220
2022: “La Moneta, tra un passato di metallo e un futuro digitale”
34° Rapporto Italia 2022, Eurispes, Rubbettino Editore, Soveria Mannelli
2019: “Criptovalute, Sovranismo e Sistema Monetario”
Individuo, Libertà e Potere - Studi in Onore di Lorenzo Infantino, (R. Cubeddu and P. Reichlin Eds.), Rubbettino Editore, Soveria Mannelli
2017: Problemi di Economia e Politica Monetaria (2nd Edition), Wolters Kluwer - Cedam
with Giorgio Di Giorgio, Alessandro Pandimiglio and Guido Traficante
2014: “Suona la campana per la BCE”
Rivista Bancaria-Minerva Bancaria, Anno LXX, n.2/3
with Giorgio Di Giorgio
2011: “Modello Neo-Keynesiano Dinamico”
Bankpedia Review, vol. 1 (1), pp. 75--86
2011: “Mundell-Fleming Model”
Bankpedia, E-encyclopedia of Banking, Stock Exchange and Finance
2010: “Dynamic New Keynesian Model”
Bankpedia, E-encyclopedia of Banking, Stock Exchange and Finance
2006: “Stock Prices and Monetary Policy: Theory and Methods”
Monetary Policy and Institutions, (G. Di Giorgio and F. Neri Eds.), Rome: LUISS University Press
2005: Problemi di Economia e Politica Monetaria, Padova: Cedam
with Giorgio Di Giorgio and Alessandro Pandimiglio
2004: “Dall'Euforia alla Crisi: Etica e Fiducia nei Mercati Finanziari”
Intermediari e Mercati Finanziari, (G. Di Giorgio and C. Di Noia Eds.), Bologna: Il Mulino
2000: “Review of `The Prudential Regulation of Bank', by Dewatripont and Tirole”
Rivista di Politica Economica, Anno XC, Serie III
1999: “La trasmissione della politica monetaria tra intermediari finanziari e imprese”
Rivista Bancaria-Minerva Bancaria, Anno LV, n.2
1999: “L'impostazione di una politica monetaria comune: l’eterogeneità territoriale del sistema industriale europeo e l'asimmetria nella trasmissione degli impulsi monetari”
18° Rapporto sui mercati monetari e creditizi, OCSM, LUISS Guido Carli
Op-eds
2020: “Coronavirus, come saremo dopo la pandemia?”
L’Eurispes.it, May 8
2020: “Linee di credito a lungo termine per convincere i rigoristi del Nord”
Il Sole 24 Ore, March 26
with Nicola Borri and Pietro Reichlin
2019: “Perché non basta dire ‘e allora il QE?’”
LaVoce.info, May 10 (replica)
2019: “Perché il QE non ha prodotto inflazione”
LaVoce.info, May 7
2018: “Sembra facile cancellare il debito, ma la storia dice no”
LaVoce.info, June 5
2018: “Quella lezione di economia che ci dà la storia”
LaVoce.info, June 1
2015: “Grecia ed Euro alle porte dell’Ade?”
L’Esuberante, July 9
2015: “Quantitative Easing: Who's Backing Currency?“
VoxEu, June 15
with Pierpaolo Benigno
2014: “La replica a Paladini e Visco”
LaVoce.info, March 7 (replica)
with Nicola Borri, Giuseppe Ragusa and Pietro Reichlin
2014: “Cambiare l'Irpef pensando al lavoro”
LaVoce.info, February 11
with Nicola Borri, Giuseppe Ragusa and Pietro Reichlin
Selected presentations and invited lectures
Paris School of Economics, Università di Verona, University of Navarra, Bank of Finland, CREI-UPF, Drexel University, ECB, EIEF, Federal Reserve Bank of New York, LUISS Guido Carli, Norges Bank, Northwestern University, Oxford University, Princeton University, Università Cattolica di Milano, Università di Ancona, Università di Bologna, Università di Milano “Bicocca”, Università di Padova, Università di Perugia, Università di Roma “Tor Vergata”, Università di Siena, Università di Urbino, Università “G. D’Annunzio" di Pescara, Università “Parthenope” di Napoli, University of Copenhagen, University of Melbourne
Editorial activity
Associate Editor: Economia Italiana (2017-…), Economic Notes (2012-2017)
Advisory Board: Rivista di Politica Economica (2019-…)
Invited Reviews: American Economic Review, Journal of Political Economy, the Review of Economic Studies, Journal of the European Economic Association, the Economic Journal, Economic Inquiry, European Economic Review, Review of Economics and Statistics, International Economic Review, Journal of Economic Surveys, American Economic Journal: Macroeconomics, Journal of Monetary Economics, Journal of International Economics, Journal of Money Credit and Banking, Review of Economic Dynamics, Journal of Financial Stability, International Journal of Central Banking, Journal of Economic Dynamics and Control, Macroeconomic Dynamics, Journal of Banking and Finance, Journal of Macroeconomics, Economica, Economic Change and Restructuring, Economic Modelling, Economic Notes, Economics Bulletin, Economics Letters, International Review of Economics and Finance, Journal of Economics and Business, Journal of Risk Finance, Manchester School, Oxford Bulletin of Economics and Statistics, Quantitative Economics, Research in Economics, Rivista Bancaria, Rivista di Politica Economica, Studies in non-Linear Dynamics and Econometrics, the B.E. Journal of Macroeconomics, the Scandinavian Journal of Economics, Italian Treasury Department WP Series
Selected conferences, workshops and training schools
2024, Sep 6-8 4th Sailing the Macro Workshop
Sapienza Università di Roma, Siracusa, Italy (organizer)
2024, Jun 6-7 Heterogenous Households, Inflation and the Green Transition
Sapienza Università di Roma, Rome, Italy (organizer)
2023, Sep 7-9 3rd Sailing the Macro Workshop
Sapienza Università di Roma, Siracusa, Italy (organizer)
2022, Nov 10-11 25th Annual DNB Research Conference “Inflation Strikes Back: Drivers and Policy Reactions”
De Nederlandsche Bank, Amsterdam, Netherlands (discussant)
2022, Sep 18-20 2nd Sailing the Macro Workshop
Sapienza Università di Roma, Ventotene, Italy
2022, May 26-27 Padova Macro Talks, 2022 Edition
Università degli Studi di Padova, Padua, Italy
2021, Sep 16-18 1st Sailing the Macro Workshop
Sapienza Università di Roma, Ventotene, Italy
2019, Oct 7-8 ECB Conference on Monetary Policy: Bridging Science and Practice
European Central Bank, Frankfurt am Main, Germany (discussant)
2018, Sep 20-21 Seventh BI-CEPR Conference on Money, Banking and Finance
Banca d’Italia, Rome, Italy (discussant)
2017, Nov 9-10 Workshop on “Aggregate and Distributive Effects of Unconventional Monetary Policies”
Swiss National Bank and Study Center Gerzensee, Gerzensee, SUI
2017, Oct 9-10 20th Annual DNB Research Conference “Fiscal and Monetary Policy in a changing Economic and Political Environment”
De Nederlandsche Bank, Amsterdam, Netherlands
2016, Apr 18-19 Workshop on “Non-Standard Monetary Policy Measures”
European Central Bank, Frankfurt-am-Main, Germany
2015, Nov 5-6 16th Jacques Polak Annual Research Conference
International Monetary Fund, Washington DC, USA
2015, Oct 22-24 56th Annual Conference of the Italian Economic Society (SIE)
Università degli Studi di Napoli “Parthenope”, Naples, Italy
2015, Mar 30-Apr 1 Royal Economic Society Conference 2015
University of Manchester, Manchester, UK
2014, Oct 16-17 XIII Macroeconomic Policy Workshop on the Changing Role of Central Bank's Post Crises
Magyar Nemzeti Bank and CEPR, Budapest, Hungary
2014, Jul 4-5 5th Summer Workshop in International & Macro Finance
Sciences Po, Paris, France
2014, Jan 23 2nd Padova Macroeconomics Meetings
Università degli Studi di Padova, Padua, Italy
2013, Sep 27-29 11th Hydra Workshop on Dynamic Macroeconomics
Taormina, Italy
2011, Dec 5-7 XX International Conference on Money, Banking and Finance: Actors, Rules and Policies after the Global Financial Crisis
Università degli Studi di Roma “Tor Vergata”, Rome, Italy
2011, Oct 14-15 NBER Workshop on Methods and Applications for DSGE Models
Federal Reserve Bank of Philadelphia, USA
2011, Aug 31-Sep Stanford Institute for Theoretical Economics, Summer 2011 Workshop
Stanford University, Palo Alto, USA
2011, Jun 29-Jul 1 XVII International Conf. on Computing in Economics and Finance
Society for Computational Economics, FRB of San Francisco, USA
2011, Apr 8-9 XXVI NBER Annual Conference on Macroeconomics
National Bureau of Economic Research, Boston, USA
2010, Dec 15-17 EABCN Training School: Bayesian Inference in Macroeconomic Model
National Bank of Belgium, Brussels, Belgium
2010, Oct 22-23 Conference on International Risk Sharing
Solvay Brussels School of Economics and Management, Belgium
2010, Oct 15 V PIERO MONCASCA Money-Macro Workshop
Università Commerciale Luigi Bocconi, Milan, Italy
2010, Sep 20-21 Advances in International Economics and Economic Dynamics - A Conference in Honour of Giancarlo Gandolfo
Sapienza Università di Roma, Rome, Italy
2010, Jul 15-18 XVI International Conf. on Computing in Economics and Finance
Society for Computational Economics, City University of London, UK
2010, Feb 24-27 Midwest Finance Association 2010 Conference
Las Vegas, USA
2009, Oct 30 Monetary Policy and the Business Cycle
Università di Milano “Bicocca”, Milan, Italy
2009, Oct 22-24 50th Annual Congress of the Italian Economic Association (SIE)
Bank of Italy and LUISS Guido Carli, Rome, Italy
2009, Aug 23-27 24th Annual Congress of the European Economic Association
UPF and Universitat Autònoma de Barcelona, Spain
2008, Sep 4-5 IV DYNARE Conference
Federal Reserve Bank of Boston, USA
2008, Jun 26-28 XIV International Conf. on Computing in Economics and Finance
Society for Computational Economics, Sorbonne Paris, France
2008, Mar 3-7 EABCN Training School: DSGE Models for Quantitative Business Cycle Analysis
Banco de Espana, Madrid, ESP
2008, Feb 1-2 Central Banks, Fiscal Policies and Unionized Labor Markets: The Role of Different Institutions
Sapienza Università di Roma, Rome, Italy
2007, Sep 17 II PIERO MONCASCA Money-Macro Workshop
Università degli Studi di Padova, Padua, Italy
2007, Jul 2-3 II Meeting on Open Macroeconomics and Development
Université de la Mèditerraneé, CEDERS, Aix-en-Provence, France
2007, Jun 14-16 XIII International Conference on Computing in Economics and Finance
Society for Computational Economics, HEC Montreal, Canada
2007, Mar 30-31 Monetary and Fiscal Policy, the Exchange Rate and the Term Structure
Università Commerciale Luigi Bocconi, Milan
2006, Jun 22-24 XII International Conference on Computing in Economics and Finance
Society for Computational Economics, Limassol, Cyprus
2005, Oct 21-22 XLVI Annual Meeting of the Italian Economic Association (SIE)
Università degli Studi di Napoli, Italy
2004, May 21 Monetary Policy, Banks and Institutions - Conference in Memory of Mario Arcelli
LUISS Guido Carli, Rome, Italy
2003, May 15-17 Research in Economics: Methodology, Coherence, Effectiveness
Ph.D. Conference, Università degli Studi di Siena, Siena, Italy