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, (2019) Journal of International EconomicsCorsetti, G., Dedola, L., Jarociński, M., Maćkowiak, B., and Schmidt, S. Macroeconomic stablization, monetary-fiscal interactions, and Europe's monetary union, (2018) European Journal of Political Economy
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
Cambridge Working Papers in Economics
Corsetti, 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) CWPE1914Corsetti, G., Erce, A. and Uy, T. Debt Sustainability and the Terms of Official Support, (2018) CWPE1864
Corsetti, G., Crowley, M. 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
Corsetti, G., Dedola, L. and Leduc, S. Exchange Rate Misalignment, Capital Flows, and Optimal Monetary Policy Trade-offs, (2018) CWPE1822
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
Call for Papers
Paper proposals are invited for a conference to celebrate the 100th anniversary of the publication of J. M. Keynes's The Economic Consequences of the Peace. The "Economic Consequences of the Peace Centenary Conference" will take place on 9th-10th September 2019, at King's College, Cambridge.
Published on - Friday 22nd March 2019
The Euro Crisis in the Mirror of the European Monetary System
Professor Giancarlo Corsetti, Barry Eichengreen, Galina Hale and Eric Tallman have published an article for VOXeu titled "The euro crisis in the mirror of the European Monetary System", which looks at why the recovery from the euro area crisis was delayed for a decade and the role suitable backstops could have played in speeding up the recovery from the crisis.
Published on - Saturday 16th February 2019
Official Lending and Debt Sustainability in the Euro Area
Professor Giancarlo Corsetti, Aitor Erce and Timothy Uy have published an article for VOXeu titled "Official lending in the euro area: Lessons for debt sustainability", that looks at how lengthening loan maturities and managing debt repayment flows has substantial effects on sustainability.
Published on - Wednesday 13th February 2019
Debt Sustainability Assessments
Professor Giancarlo Corsetti spoke at the European Stability Mechanism (ESM) on "Debt Sustainability Assessments: The state of the art". The seminar took place at the ESM premises, Luxembourg on January 25th 2019.
Published on - Tuesday 29th January 2019
Keynote Speech at Ridge Conference
Professor Giancarlo Corsetti's was the keynote speaker at the Ridge Conference in Montevideo, and debated "Capital flows, monetary and macroprudential policies, exchange rates, international reserve accumulation, sovereign debt and international spillovers" with the President of the Banco Central del Uruguay, Alberto Graña, Nicolas Ernesto Magud, International Monetary Fund, and Adrián Armas, Banco Central de Reserva del Perú, December 6 and 7 2018.
Published on - Wednesday 9th January 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
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
