Research Interests
International Economics and Open Economy Macroeconomics
Biography
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, G., Mavroeidi, E., Thwaites, G. and Wolf, M. Step away from the zero lower bound: small open economies in a world of secular stagnation, Journal of International Economics vol 116 (2019) pp. 88-102Corsetti, G., Dedola, L., Jarociński, M., Maćkowiak, B., and Schmidt, S. Macroeconomic stablization, monetary-fiscal interactions, and Europe's monetary union, European Journal of Political Economy (2018)
Corsetti, G., Kuester, K. and Müller, G. J. Fixed on Flexible Rethinking Exchange Rate Regimes after the Great Recession, IMF Economic Review vol 65(3) (2017) pp. 586-632
Corsetti, G. Comments on "Obstfeld and Rogoff's international macro puzzles: a quantitative assessment" by J. Eaton, S. Kortum and B. Neiman, Journal of Economic Dynamics and Control vol 72 (2016) pp. 24-28
Corsetti, G. and Dedola, L. The "mystery of the printing press" monetary policy and self-fulfilling debt crises, Journal of the European Economic Association vol 14(6) (2016) pp. 1329-1371
Cambridge Working Papers in Economics
Corsetti, G., Lafarguette, R. and Mehl, A. Fast Trading and the Virtue of Entropy: Evidence from the Foreign Exchange Market, (2019) CWPE1970Corsetti, G., Eichengreen, B., Hale, G. and Tallman, E. The Euro Crisis in the Mirror of the EMS: How Tying Odysseus to the Mast Avoided the Sirens but Led Him to Charybdis, (2019) CWPE1914
Corsetti, G., Erce, A. and Uy, T. Debt Sustainability and the Terms of Official Support, (2018) CWPE1864
Corsetti, G., Crowley, M. A. and Han, L. Invoicing and Pricing-to-Market - A Study of Price and Markup Elasticities of UK Exporters, (2018) CWPE1860
Ari, A., Corsetti, G. and Dedola, L. Debt Seniority and Sovereign Debt Crises, (2018) CWPE1831
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 - CEPRChapter in Book
Corsetti, G., Dedola, L. and Leduc, S. Optimal monetary policy in open economies, (2010) in the book: Handbook of monetary economics - North-HollandResearch Activities
Dollars and sense: The sterling depreciation and UK price competitiveness
Professor Giancarlo Corsetti, Dr. Meredith Crowley, and Lu Han have published an article for VOXeu titled "Dollars and sense: The sterling depreciation and UK price competitiveness". This column shows that UK export price response to depreciation depends on the currency in which UK firms invoice their cross-border transactions.
Published on - Wednesday 28th August 2019
Fast Trading and the Virtue of Entropy
Professor Giancarlo Corsetti, Romain Lafarguette and Arnaud Mehl have published an article for VOXeu titled "Fast Trading and the Virtue of Entropy". This column argues that high-frequency trading can increase market efficiency and the quality of trade.
Published on - Wednesday 14th August 2019
Fast Trading and the Virtue of Entropy
Professor Giancarlo Corsetti has just published a paper in the European Central Bank's (ECB) Working Paper Series. The paper "Fast Trading and the Virtue of Entropy: Evidence from the Foreign Exchange Market" is joint with Romain Lafarguette and Arnaud Mehl.
Published on - Wednesday 31st July 2019
Debt Sustainability Assessments - The State of the Art
Professor Giancarlo Corsetti was invited to discuss "Debt Sustainability Assessments - The State of the Art" at the International Monetary Fund, by the IMF Strategy and Policy Review Department, on July 15th 2019. This address continues Prof. Corsetti's research into "Debt Sustainability Assessments" that was originally commissioned by the ECON Committee of the Economic Governance Support Unit Directorate-General for Internal Policies of the Union.
Published on - Wednesday 17th July 2019
Optimal Monetary Stabilization in Response to Inefficient Capital Flows
Professor Giancarlo Corsetti has been invited to the Bank of Japan-IMES 2019 conference in Tokyo, to speak on "Optimal Monetary Stabilization in Response to Inefficient Capital Flows". The conference runs from 29th - 30th May 2019.
The Institute for Monetary and Economic Studies (IMES) has held the BOJ-IMES Conference since 1983. The conference participants include prominent academics and central bankers from around the world.
Published on - Wednesday 29th May 2019
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, Corsetti, G. and Eichengreen, B. (JHLP) Research Output
Credit Constraints and Optimal Price Setting in International Markets, Crowley, M. and Corsetti, G. (JHOR)
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
Teaching
PIIB Paper 2 - Lent - International Financial System
MPhil F510 - International Finance
Phd20 - Topics in Advanced Macroeconomics
PhD Students
Supervisor
Emile Marin
PhD Title: The Hegemon's Dilemma : Intertemporal terms of trade manipulation and expenditure-switching.
Research:
PhD Title: The Hegemon's Dilemma : Intertemporal terms of trade manipulation and expenditure-switching.
Research:
Advisor
