Carlo Favero

Research Unit Director. Carlo Favero holds a PhD from Oxford University. He has been professor of Econometrics at Bocconi University from 1994 to 2001 and professor of Economics since 2002. In 2009 he joined the Dept of Finance at Bocconi University, where he taught Econometrics. In 2023, he rejoined the Dept. of Economics at Bocconi.  

He is a research fellow of CEPR (Centre for Economic Policy Research) in the International Macroeconomics programme,  and a fellow  of the Innocenzo Gasparini Institute for the Economic Research (Igier) at Bocconi University. He is advisor to the Italian Ministry of Economy and Finance for the deployment of a stock-flow consistent  econometric model of the Italian economy. He has been consulting the European Commission, the World Bank and the European Central Bank, on monetary policy and the monetary transmission mechanism and bond markets. Since October 2024, he has been member of the Monetary Policy Expert Panel for the Committee of Economic and Monetary Affairs (ECON) at the European Parliament.

He is author of several books, among which the one with A. Alesina and F. Giavazzi "Austerity. When it Works and When it Doesn't" (Princeton University Press 2019). The book won the Hayek Book Prize of the Manhattan Institute in May 2020.