Dear Guest! If you find an error on the page or you have any technical question please call the customer service center. Phone number is 06-80-203-776. The Central Bank of Hungary.
HU

Instructors 2009

Print

Instructors 2009

Fabio Canova

Fabio Canova got his Ph.D. in economics from the University of Minnesota. He has been assistant professor at Brown University and University of Rochester;  associate professor at EUI and Brown University;  and full professor at the University  of Catania, Modena, Southampton and Universitat Pompeu Fabra. He is currently an ICREA research professor, a researcher with the CEPR and program director with the BSCBC.  He has taught classes in numerous universities around the world an given  professional courses at the Bank of England, Sveriges Riksbank, Bank of Italy, Deutsche Bundesbank, ECB, Bank of Spain, Bank of Portugal, Bank of Hungary, Bank of Argentina, Banco do Brazil, Banco Central de Reserva del Perú, South African Reserve Bank, Bank Indonesia, Swiss National Bank, Bank of Israel, at the EABCN, at the Central Bank course in Genzersee, the EU commission, the UK Foreign Office and UK Treasury, among others. He has held consultancy positions with the Bank of England, the ECB, the Bank of Italy and the Bank of Spain.

He is a member of the CEPR Dating Business Cycle Committee, of the Applied Macroeconomic  Network (AMeN),  and of the Scientific Committee of several international conferences. He is program director of the Budapest Center. He has been ranked in the Econometrics and Applied Econometrics Hall of Fame and in the Top 100 most productive economists of the world in several polls over the last 10 years. He has held editorial positions with a number of journals, he is currently coeditor of the Journal of the European Economic Association.  He has published widely in international journals and his graduate textbook, Methods for Applied Macroeconomic Research, has been published in 2007 by Princeton University  Press.

Selected publications

  • "The Structural Dynamics of U.S. Output and Inflation: What Explains the Changes?" (with L. Gambetti and E. Pappa), Journal of Money, Credit and Banking, 2008, 40, 369-388

  • "Methods for Applied Macroeconomic Research" Princeton University Press, 2007
  • "Similarities and Convergence of G-7 cycles" (with M. Ciccarelli and E. Ortega), Journal of Monetary Economics, 2007, 54, 850-878.
  • "On the elusive costs and on the immaterial gains of  scal restrictions" (with E. Pappa), Journal of Public Economics, 2006, 90(8), 1391-1414.
  • "Formulation, Estimation and Testing of Bayesian Panel VAR Models" (with M. Ciccarelli), Journal of Econometrics, 2004, 120, 327-359.

Morten O. Ravn

 Morten O. Ravn is a professor of economics at the European University Institute. He is also a Research Fellow of the CEPR, Associate Editor of the Economic Journal and a Panel Member of Economic Policy. He has previously worked at London Business School, Universitat Pompeu Fabra, University of Southampton and University of Aarhus and has been a visitor at University of Pennsylvania and Princeton University. He holds a PhD from the University of Southampton. He has also taught courses on macroeconomics for Her Majesty’s Treasury, the Foreign and Commonwealth Office and the Department for International Development.
His research has focused on applied macroeconomics, macroeconomic theory, and international economics. His work has examined issues such as the determination of international relative prices, the persistence of the real exchange rate and aggregation bias, the dynamics of mark-ups in customer markets models, anticipation effects of fiscal policy, and the impact of government spending in imperfect competition open economy models. Recent research has been published in journals such as the American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, Journal of Applied Econometrics, Review of Economics and Statistics and the Journal of the European Economic Association.

Selected publications

  • “The Consumption - Tightness Puzzle”, 2007. Forthcoming in NBER International Macroeconomics Annual
  • “TheMacroeconomics of Subsistence Points” (with Stephanie Schmitt-Grohe and Martin Uribe), Macroeconomic Dynamics 2007.
  • “Pricing to Habits and the Law of One Price” (with Stephanie Schmitt-Grohe and Martin Uribe), 2007. American Economic Review 97(2), 232-38 (P&P).
  • “Deep Habits” (with Stephanie Schmitt-Grohe and Martin Uribe) Review of Economic Studies, 2006, vol. 73(1), pp. 195-218.
  • “PPP Strikes Back: Aggregation and the Real Exchange Rate” (with Jean Imbs, Haroon Mumtaz and Helene Rey),  Quarterly Journal of Economics, 2005, vol. 120 (1), pp. 1-43 (lead article)

Tommaso Monacelli

Tommaso Monacelli is Associate Professor of Economics at Universita Bocconi, Milan. He holds a Ph.D. from New York University (1999), has been Assistant Professor at Boston College (1999-2002) and at Igier-Bocconi (2002-2005). He is Research Affiliate of CEPR and Associate Editor of the Journal of Money Credit and Banking. He has been research consultant for the ECB, Visiting Scholar at IMF, ECB and Riksbank, and Visiting Professor at CEU. He has published in various refereed journals in the area of open economy macroeconomics and monetary economics.

Selected publications

  • “Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints” (June 2006), in Campbell, John Y. (ed.), Asset Prices and Monetary Policy, NBER and University of Chicago Press.
  • “Optimal Interest Rate Rules, Asset Prices and Credit Frictions”, (with E. Faia), Journal of Economic Dynamics and Control (2006).
  • “Monetary Policy and Exchange Rate Volatility in a Small Open Economy” (with J. Gali), Review of Economic Studies, Volume 72, Number 3 (July 2005).
  • "Monetary Policy in a Low Pass-Through Environment”, Journal of Money Credit and Banking, Vol. 37, N. 6. 1047-1066.
  • “Into the Mussa Puzzle: Monetary Policy Regimes and the Real Exchange Rate in a Small Open Economy”, Journal of International Economics Volume 62, Issue 1, Pages 1-243, 2004.

Gianni De Nicolo

 Gianni De Nicolo is a Senior Economist at the Research Department of the International Monetary Fund. Before joining the Fund, he worked as Economist in the Division of International Finance at the Board of Governors of the Federal Reserve System, specializing in Banking Institutions; he was Assistant Professor at Brandeis University and lecturer at the University of Rome “La Sapienza”. He has also recently taught at Georgetown University and the University of St. Gallen.
He has been conducting financial systems analysis and banking systems stress tests in the  context of the IMF Financial System Assessment Program (FSAP) in several countries (Argentina, Luxembourg, Kyrgyz Republic, Azerbaijan, Italy), and participated to IMF Art. IV  consultations for the United States, Canada and the Euro area analyzing risk profiles and systemic risk potential at large and complex banking organizations and their impact on the macroeconomy. His main research interests include the macroeconomic determinants of financial systemic risk, financial integration and the relationship between bank risk-taking and market structure. He has extensively published in academic journals, including the Journal of Finance, the Journal of Monetary Economics and the Journal of International Economics. 

Selected publications

  • “Corporate Governance Quality: Trends and Real Effects“, 2008 (with L. Laeven and K. Ueda), Journal of Financial Intermediation, Vol, 17, 198-228.
  • “The Theory of Bank Risk-Taking and Competition Revisited” 2005 (with J. Boyd), Journal of Finance, Vol. 60, no. 3, pp. 1329-1343.
  • “Dollarization of Bank Deposits: Causes and Consequences” (with P. Honohan and A. Ize), Journal of Banking and Finance, forthcoming.
  • “Bank Consolidation, Internationalization and Conglomeration: Trends and Implications for Financial Risk”, 2004 (with P. Bartholomew, J. Zaman and M. Zephirin), Financial Markets, Institutions & Instruments, Vol. 13, No. 4, pp.173-217
  • “Crises in Competitive versus. Monopolistic Banking Systems” 2004 (with J. Boyd and B. Smith), Journal of Money, Credit, and Banking 36, no. 3, (part 2), pp. 487-506.
  • “Monetary Disturbances Matter for Business Fluctuations in the G-7” 2002 (with F. Canova), Journal of Monetary Economics, v49, n6, pp. 1131-1159.

Stefano Neri

Stefano Neri earned his PhD in Economics at Universitat Pompeu Fabra (Barcelona) in 2003. He joined the Monetary Analysis Division in the Research Department of the Banca d’Italia in 2000. Since 2006 he is head of the Monetary Policy unit in the Monetary Analysis Division. He has been member of a working group on DSGE modeling at the Research Department. His research has focused on monetary policy and its transmission mechanism, structural VAR and dynamic general equilibrium models and the role of financial frictions in the transmission of monetary policy.  He has published articles in the Journal of Monetary Economics and the European Journal of Political Economy. He is currently working credit and housing market spillover for monetary policy decisions. 

Selected publications

  • “What does a technology shock do? A VAR analysis with model-based sign restrictions” Journal of Monetary Economics, Vol. 54, No. 2, pp. 512-549, 2007 (with L. Dedola)
  • “Information variables for monetary policy in a small structural model of the euro area?" Journal of Monetary Economics, Vol. 54, No. 4, pp. 1256-1270, 2007 (with F. Lippi)
  • “The effects of fiscal policy in Italy: Evidence from a VAR model?” European Journal of Political Economy, Vol. 23, No. 3, pp. 707-733, 2007 (with R. Giordano, S. Momigliano, R. Perotti)
  • “Credit and Banking in a DSGE model of the euro area?” mimeo, Banca d'Italia, 2008 (with A. Gerali, L. Sessa and F. M. Signoretti)
  • “The transmission of monetary policy shocks from the US to the euro area?” Temi di discussione No. 606, Banca d'Italia, December 2006 (joint with A. Nobili). Under revision
  • “Housing Market Spillovers: Evidence from an Estimated DSGE Model?” Temi di discussione No. 659, January 2008, Banca d'Italia (joint with M. Iacoviello)

Eric M. Leeper

 Eric Leeper is a professor of economics at Indiana University, received a Ph.D. in economics from the University of Minnesota in 1989 and a B.S. in economics from George Mason University in 1980. Prior to joining the faculty at Indiana University in 1995, Leeper was a research officer in the macropolicy group at the Federal Reserve Bank of Atlanta and he spent four years as a staff economist in the International Finance Division of the Board of Governors.
Leeper is the director of the Center for Applied Economics and Policy Research at Indiana University and a Research Associate at the National Bureau of Economic Research. He also serves as an external advisor to the Swedish central bank (Sveriges Riksbank) and is a regular visitor to the Federal Reserve Board, the European Central Bank, several Federal Reserve Banks, and other central banks around the world.
His research focuses on theoretical and empirical models of macro policy. His theoretical work emphasizes that monetary and fiscal policies interact dynamically in complicated ways. His recent work examines the implications of treating policy as fluctuating over time between different policy regimes. Another branch of Leeper’s research attempts to isolate exogenous changes in monetary policy and fiscal policy and to quantify their dynamic impacts on macroeconomic variables. Leeper has also researched how central banks that desire to be transparent can best achieve that objective.  His articles have been published in the American Economic Review, Journal of Political Economy and Journal of Monetary Economics among many others.

Selected publications

  • “Generalizing the Taylor Principle” (with Troy Davig), American Economic Review 97(3): 607-635, 2007 
  • “Monetary and Fiscal Policy Switching” (with Troy Davig and Hess Chung), Journal of Money, Credit and Banking 39(4), 2007, 809-842 
  • “Fluctuating Macro Policies and the Fiscal Theory” in Daron Acemoglu, Kenneth Rogoff and Michael Woodford, eds., NBER Macroeconomics Annual 2006 (Cambridge: MIT Press): 247-298 (with Troy Davig).
  • “Putting ‘M’ Back in Monetary Policy,” (with Jennifer E. Roush), Journal of Money, Credit and Banking 35, December, Part 2, 2003, 1217-1256.
  • “Equilibria Under‘Active’ and ‘Passive’ Monetary and Fiscal Policies,” Journal of Monetary Economics 27, February 1991, 129-147
  • “The Dynamic Impacts of Monetary Policy: An Exercise in Tentative Identification” (with David B. Gordon), Journal of Political Economy 102, December 1994, 1228-1247 
  • “What Does Monetary Policy Do?” (with Christopher A. Sims and Tao Zha), Brookings Papers on Economic Activity 2:1996, 1-78.

Giancarlo Corsetti

Giancarlo Corsetti obtained his Ph.D. from. Yale He is Pierre Werner Chair, joint professor at the Robert Schuman Centre for Advanced Studies and the Department of Economics at the European University Institute, on leave from the University of Rome III, where he is Professor of Economics. He has previously taught at the Universities of Bologna, Yale and Columbia. His main field of interest is international economics and his contributions include general equilibrium models of the international transmission mechanisms and optimal monetary policy in open economies, analyses of currency and financial crises and their international contagion, and models of international policy cooperation and international financial architecture. He has published articles in many international journals including Brookings Papers on Economic Activity, Economic Policy, Economics and Politics, European Economic Review, Journal of Economic Dynamics and Control, Journal of Monetary Economics, Quarterly Journal of Economics, Review of Economic Studies, and the Journal of International Economics.
Professor Corsetti is currently co-editor of the Journal of International Economics. He is co-Director of the International Macroeconomic Programme of the Centre for Economic Policy Research in London, and a member of the European Economic Advisory Group at CESifo in Munich, publishing a yearly Report on the European Economy. Professor Corsetti has been a scientific consultant to the European Central Bank and the Bank of Italy, and a visiting scholar at the Federal Reserve Bank of New York and the International Monetary Fund.

Selected publications

  • “International Risk Sharing and the International Transmission of Productivity Shocks” (with Luca Dedola and Sylvain Leduc), Review of Economic Studies 2008, vol 75 (2) 443-473.
  • High exchange rate volatility and low pass-through (with Luca Dedola and Sylvain Leduc), Journal of Monetary Economics Sept 2008
  • “Productivity spillovers, terms of trade and the home market effect”  (with Philippe Martin and Paolo Pesenti), Journal of International Economics. 2007, 73(1): 99-127.
  • “International Lending of Last Resort and Moral Hazard: a model of IMF’s catalytic finance” (with Bernardo Guimaraes and Nouriel Roubini), Journal of Monetary Economics, 2006, 53 pp 441-471.
  • “Fiscal Imbalances and the Dynamics of Currency Crises” (with Bartosz Mackowiak), European Economic Review, 2006, 50 pp 1317-1338.