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Research Interests

International Economics and Open Economy Macroeconomics


Ph.D. from Yale (1992), his contributions range from theoretical and empirical work on fiscal and monetary policy, to analyses of currency and financial crises and their international contagion. Serves as co-editor of the Journal of International Economics, Programme Director at Centre for Economic Policy Research in London, and scientific consultant to the Bank of England and the European Central Bank.

Recent Publications

Published Papers

Corsetti, C., Kuester, K. and Müller, G. J. Fixed on Flexible Rethinking Exchange Rate Regimes after the Great Recession, (2017) IMF Economic Review
Corsetti, G. Comments on "Obstfeld and Rogoff's international macro puzzles: a quantitative assessment" by J. Eaton, S. Kortum and B. Neiman, (2016) Journal of Economic Dynamics and Control
Corsetti, G. and Dedola, L. The mystery of the printing press: monetary policy and self-fulfilling debt crises, (2016) Journal of the European Economic Association
Corsetti, G. Roots of the Eurozone crisis: incomplete development and imperfect credibility of institutions, (2015) Geneva Reports on the World Economy
Corsetti, G., Dedola, L., and Leduc, S. The international dimension of productivity and demand shocks in the US economy, (2014) Journal of the European Economic Association

Cambridge Working Papers in Economics

Corsetti, G., Kuester, K. and Müller, G. J. Fixed on Flexible Rethinking Exchange Rate Regimes after the Great Recession, (2017) CWPE1729
Corsetti, G., Erce, A. and Uy, T. Official Sector Lending Strategies During the Euro Area Crisis, (2017) CWPE1730
Corsetti, G., Kuester, K. and Müller, G. J. The Case for Flexible Exchange Rates in a Great Recession, (2016) CWPE1644
Corsetti, G., Mavroeidi, E., Thwaites, G. and Wolf, M. Step away from the zero lower bound: Small open economies in a world of secular stagnation, (2016) CWPE1645
Corsetti, G., Dedola, L., Jarocinski, M., Mackowiak, B. and Schmidt, S. Macroeconomic Stabilization, Monetary-fiscal Interactions, and Europe’s monetary Union, (2016) CWPE1675

Authored Book

Giancarlo, C., Feld, L.P., Lane, P.R., Reichlin, L A new start for the Eurozone: dealing with debt, (2015) Monitoring the Eurozone - CEPR

Chapter in Book

Corsetti, G., Dedola, L. and Leduc, S. Optimal monetary policy in open economies, (2010) in the book: Handbook of monetary economics - North-Holland

Recent Activities

Faculty Members to talk at the INET 'Reawakening' Conference - Publication Date: 2017-10-16
Professor Giancarlo Corsetti, Professor Sanjeev Goyal and Dr. Pontus Rendahl will all give talks on 'INET and economics in Cambridge' at the INET 'Reawakening' conference in Edinburgh, on Saturday October 21, 2017.

Prof Corsetti's Vox Article Published - Publication Date: 2017-09-20
Professor Giancarlo Corsetti, Gernot Müller and Keith Kuester's article "In a Great Recession, the case for flexible exchange rates is alive and well" has been published on the Vox website.

Prof. Corsetti to speak at the RFAs Research Seminar in Singapore - Publication Date: 2017-09-06
Professor Giancarlo Corsetti will speak at the 1st Joint Regional Financing Arrangements (RFAs) Research Seminar (AMRO, ESM and FLAR) in Singapore, Sept 7th 2017, on "Official lending strategies during the euro area crisis" (joint paper with Aitor Erce and Timothy Uy).

Prof. Corsetti to talk at the Annual MacCaLM Conference - Publication Date: 2017-06-07
Professor Giancarlo Corsetti is giving a talk on 'Capital flows and monetary policy trade-offs' at the Annual MacCaLM Conference, University of Edinburgh on 21st June 2017.

A conversation with Prof. Maurice Obstfeld (IMF) - Publication Date: 2017-05-11
The world outlook and the international monetary system: A conversation with Prof. Maurice Obstfeld, Chief Economist at the IMF will take place at Corpus Christi College on 29th May 2017, 5.00 - 6.00pm.

Research Grants

Cambridge-INET Institute (INET)
The impact of trade policy and exchange rate shocks on trade (ESRC)
A Dynamic Economic And Monetary Union (Ademu) (ECH2020 SOCIETAL CHALLENGES (SC))
Working Towards A Stable And Sustainable Growth Path (Macro Centre) (LONDON SCHOOL OF ECONOMICS (FB ESRC))

Keynes Fund Sponsored Projects

The Making of the Euro-area Crisis: Lessons from Theory and History with Eichengreen, B. (JHLP)

Handbook of Monetary Economics

Optimal monetary policy in open economies joint with Luca Dedola and Sylvain Leduc, published in the Handbook of Monetary Economics, vol. III, Edited by Ben Friedman and Michael Woodford, 2010. Note: I keep this copy clean of (the few) typos. If you read the book, please refer to HANDBOOK: ERRATA


PIIB Paper 2 - Lent - International Financial System
F510 - International Finance
Phd20 - Topics in Advanced Macroeconomics

PhD Students


Samuel Mann
PhD Title: Macroeconomic Stabilisation and Capital Controls
Research: International Macroeconomics & Finance
Emile Marin
PhD Title: Self-fulfilling Crises and Country Solidarity
Seung Hyun Maeng
PhD Title:


Anil Ari
PhD Title: Sovereign Risk and Fiscal Policy in an Open Economy Framework
Research: Sovereign Risk, Macro-Finance, Open Economy Macroeconomics
(Edward) Rafe Martyn
PhD Title: Supply-Side Policies at the Zero-lower bound in a Rotemberg Wage Setting
Research: Labour economics; Macroprudential policy; Zero-Lower-Bound
Lidia Smitkova
PhD Title: Effects of trade on de-industrialization
Daniel Wales
PhD Title: The Impact of Large Scale Asset Purchases on Wealth Inequality

Professor Giancarlo Corsetti

Professor of Macroeconomics

Research Group:

CV: Curriculum Vitae

Personal Site:

Contact Details
Room: 35
College: Fellow of Clare College