Gianni De Nicoló
Last Updated: February 18, 2011Gianni De Nicolò is Senior Economist in the Research Department of the International Monetary Fund and Fellow at CESifo, Munich. Before joining the Fund, he worked as Economist in the Division of International Finance at the Board of Governors of the Federal Reserve System, was Assistant Professor at Brandeis University and Lecturer at the University of Rome I. His current research interests include macro-financial modeling of systemic risk, financial integration, and theoretical models of banking with empirical applications.
Email: gdenicolo@imf.org
Fluent In: Italian.
Education:
1992: Ph. D. , Economics, University of Minnesota
1983: Laurea (cum laude), Statistics, Università di Roma “La Sapienza”
Refereed Activities:
American Economic Review, Economic Journal, Journal of Banking and Finance, Journal of Economic Dynamics and Control, Journal of the European Economic Association, Journal of Finance, Journal of Financial Intermediation, Journal of Money, Credit and Banking, Journal of Empirical Finance, Review of Financial Studies.
Other Professional Positions:
2001-04 Senior Economist, Monetary and Financial Systems Department, International Monetary Fund.
1998-01 Economist, Division of International Finance, Board of Governors of the Federal Reserve System, Washington, D.C.
1994-98 Assistant Professor, Brandeis University, Waltham, MA, U.S.A.;
1991-94: Lecturer, Università di Roma “La Sapienza”
IMF Books and Working Papers:
Externalities and Macroprudential Policy, Staff Discussion Notes No. 12/5, June 07, 2012
Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking, Working Paper No. 12/72, March 01, 2012
Systemic Real and Financial Risks: Measurement, Forecasting, and Stress Testing, Working Paper No. 12/58, February 01, 2012
Bank Competition and Financial Stability: A General Equilibrium Exposition, Working Paper No. 11/295, December 01, 2011
Systemic Risks and the Macroeconomy, Working Paper No. 10/29, February 01, 2010
Bank Competition, Risk and Asset Allocations, Working Paper No. 09/143, July 01, 2009
Banking Crises and Crisis Dating: Theory and Evidence, Working Paper No. 09/141, July 01, 2009
Financial Intermediation, Competition, and Risk: A General Equilibrium Exposition, Working Paper No. 09/105, May 01, 2009
Global Liquidity, Risk Premiums and Growth Opportunities, Working Paper No. 09/52, March 01, 2009
Financial Integration and Risk-Adjusted Growth Opportunities, Working Paper No. 08/126, May 01, 2008
Bank Ownership, Market Structure and Risk, Working Paper No. 07/215, September 01, 2007
Financial Reforms, Financial Openness, and Corporate Borrowing: International Evidence, Working Paper No. 07/186, July 01, 2007
Economic Integration and Financial Stability: A European Perspective, Working Paper No. 06/296, December 01, 2006
Corporate Governance Quality: Trends and Real Effects, Working Paper No. 06/293, December 01, 2006
Bank Risk-Taking and Competition Revisited: New Theory and New Evidence, Working Paper No. 06/297, December 01, 2006
Financial Stability in Dollarized Economies, Occasional Paper No. 230, June 15, 2004
Financial Development in the CIS-7 Countries: Bridging the Great Divide, Working Paper No. 03/205, October 01, 2003
Crisis in Competitive versus Monopolistic Banking Systems, Working Paper No. 03/188, September 01, 2003
Dollarization of the Banking System: Good or Bad?, Working Paper No. 03/146, July 01, 2003
Bank Consolidation, Internationalization and Conglomeration: Trends and Implications for Financial Risk, Working Paper No. 03/158, July 01, 2003
Bank Risk-Taking and Competition Revisited, Working Paper No. 03/114, June 01, 2003
Systemic Risk and Financial Consolidation: Are they Related?, Working Paper No. 02/55, March 01, 2002
Publications in Refereed Journals
"Corporate Governance Quality: Trends and Real Effects", [2008], (joint with L. Laeven and K. Ueda), Journal of Financial Intermediation, Vol. 17, n.2, pp. 198-228.
“Dollarization of Bank Deposits: Causes and Consequences” [2005] (with P. Honohan and A. Ize), Journal of Banking and Finance, Vol. 29, pp. 1697-1727
“The Theory of Bank Risk-Taking and Competition Revisited” [2005] (with J. Boyd), Journal of Finance, Vol. 60, no. 3, pp. 1329-1343.
“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.
"On the Sources of Business Cycles in the G-7", [2003], (joint with F. Canova), Journal of International Economics, Vol. 59, pp. 77-100.
“The Properties of the Equity Premium and the Risk Free Rate: An Investigation Across Time and Countries", [2003] (with F. Canova), IMF Staff Papers, Volume 50, Number 2, pp. 222-249.
“Monetary Disturbances Matter for Business Fluctuations in the G-7” [2002] (with F. Canova), Journal of Monetary Economics, v49, n6, pp. 1131-1159.
“Financial Risk and Consolidation: Are They Related?”, [2002] (with M. Kwast) Journal of Banking and Finance, Vol. 26, no. 5, pp. 861-880.
“Stock Returns, Term Structure, Inflation and Real Activity: An International Perspective'' [2000], (with F. Canova), Macroeconomic Dynamics, Vol. 4, pp.343-372.
“Run-Proof Banking Without Suspension or Deposit Insurance” [1996], Journal of Monetary Economics, Vol. 38, no. 2, pp. 377-390.
“Stock Returns and Real Activity: A Structural Approach” [1995] (with F. Canova), European Economic Review, Vol. 39, no.5, pp. 981-1015.
Other IMF Publications
“Bridging the “Great Divide”” [2003] (with S. Geadah and D. Rozhkov), Finance & Development, Volume 40, Number 4, pp. 42-45.
Gianni De Nicolò is Senior Economist in the Research Department of the International Monetary Fund and Fellow at CESifo, Munich. Before joining the Fund, he worked as Economist in the Division of International Finance at the Board of Governors of the Federal Reserve System, was Assistant Professor at Brandeis University and Lecturer at the University of Rome I. His current research interests include macro-financial modeling of systemic risk, financial integration, and theoretical models of banking with empirical applications.
Email: gdenicolo@imf.org
Fluent In: Italian.
Education:
1992: Ph. D. , Economics, University of Minnesota
1983: Laurea (cum laude), Statistics, Università di Roma “La Sapienza”
Refereed Activities:
American Economic Review, Economic Journal, Journal of Banking and Finance, Journal of Economic Dynamics and Control, Journal of the European Economic Association, Journal of Finance, Journal of Financial Intermediation, Journal of Money, Credit and Banking, Journal of Empirical Finance, Review of Financial Studies.
Other Professional Positions:
2001-04 Senior Economist, Monetary and Financial Systems Department, International Monetary Fund.
1998-01 Economist, Division of International Finance, Board of Governors of the Federal Reserve System, Washington, D.C.
1994-98 Assistant Professor, Brandeis University, Waltham, MA, U.S.A.;
1991-94: Lecturer, Università di Roma “La Sapienza”
IMF Books and Working Papers:
Externalities and Macroprudential Policy, Staff Discussion Notes No. 12/5, June 07, 2012
Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking, Working Paper No. 12/72, March 01, 2012
Systemic Real and Financial Risks: Measurement, Forecasting, and Stress Testing, Working Paper No. 12/58, February 01, 2012
Bank Competition and Financial Stability: A General Equilibrium Exposition, Working Paper No. 11/295, December 01, 2011
Systemic Risks and the Macroeconomy, Working Paper No. 10/29, February 01, 2010
Bank Competition, Risk and Asset Allocations, Working Paper No. 09/143, July 01, 2009
Banking Crises and Crisis Dating: Theory and Evidence, Working Paper No. 09/141, July 01, 2009
Financial Intermediation, Competition, and Risk: A General Equilibrium Exposition, Working Paper No. 09/105, May 01, 2009
Global Liquidity, Risk Premiums and Growth Opportunities, Working Paper No. 09/52, March 01, 2009
Financial Integration and Risk-Adjusted Growth Opportunities, Working Paper No. 08/126, May 01, 2008
Bank Ownership, Market Structure and Risk, Working Paper No. 07/215, September 01, 2007
Financial Reforms, Financial Openness, and Corporate Borrowing: International Evidence, Working Paper No. 07/186, July 01, 2007
Economic Integration and Financial Stability: A European Perspective, Working Paper No. 06/296, December 01, 2006
Corporate Governance Quality: Trends and Real Effects, Working Paper No. 06/293, December 01, 2006
Bank Risk-Taking and Competition Revisited: New Theory and New Evidence, Working Paper No. 06/297, December 01, 2006
Financial Stability in Dollarized Economies, Occasional Paper No. 230, June 15, 2004
Financial Development in the CIS-7 Countries: Bridging the Great Divide, Working Paper No. 03/205, October 01, 2003
Crisis in Competitive versus Monopolistic Banking Systems, Working Paper No. 03/188, September 01, 2003
Dollarization of the Banking System: Good or Bad?, Working Paper No. 03/146, July 01, 2003
Bank Consolidation, Internationalization and Conglomeration: Trends and Implications for Financial Risk, Working Paper No. 03/158, July 01, 2003
Bank Risk-Taking and Competition Revisited, Working Paper No. 03/114, June 01, 2003
Systemic Risk and Financial Consolidation: Are they Related?, Working Paper No. 02/55, March 01, 2002
Publications in Refereed Journals
"Corporate Governance Quality: Trends and Real Effects", [2008], (joint with L. Laeven and K. Ueda), Journal of Financial Intermediation, Vol. 17, n.2, pp. 198-228.
“Dollarization of Bank Deposits: Causes and Consequences” [2005] (with P. Honohan and A. Ize), Journal of Banking and Finance, Vol. 29, pp. 1697-1727
“The Theory of Bank Risk-Taking and Competition Revisited” [2005] (with J. Boyd), Journal of Finance, Vol. 60, no. 3, pp. 1329-1343.
“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.
"On the Sources of Business Cycles in the G-7", [2003], (joint with F. Canova), Journal of International Economics, Vol. 59, pp. 77-100.
“The Properties of the Equity Premium and the Risk Free Rate: An Investigation Across Time and Countries", [2003] (with F. Canova), IMF Staff Papers, Volume 50, Number 2, pp. 222-249.
“Monetary Disturbances Matter for Business Fluctuations in the G-7” [2002] (with F. Canova), Journal of Monetary Economics, v49, n6, pp. 1131-1159.
“Financial Risk and Consolidation: Are They Related?”, [2002] (with M. Kwast) Journal of Banking and Finance, Vol. 26, no. 5, pp. 861-880.
“Stock Returns, Term Structure, Inflation and Real Activity: An International Perspective'' [2000], (with F. Canova), Macroeconomic Dynamics, Vol. 4, pp.343-372.
“Run-Proof Banking Without Suspension or Deposit Insurance” [1996], Journal of Monetary Economics, Vol. 38, no. 2, pp. 377-390.
“Stock Returns and Real Activity: A Structural Approach” [1995] (with F. Canova), European Economic Review, Vol. 39, no.5, pp. 981-1015.
Other IMF Publications
“Bridging the “Great Divide”” [2003] (with S. Geadah and D. Rozhkov), Finance & Development, Volume 40, Number 4, pp. 42-45.