Giovanni Dell'Ariccia
Last Updated: April 16, 2012
Giovanni Dell'Ariccia is an Advisor in the Research Department where he coordinates the activities of the Macro-Financial Linkages Unit. Previously he worked in the Asia and Pacific Department. His research interests include: Banking; the Macroeconomics of Credit; International Finance; and Conditionality in International Lending and Aid Programs. He is a CEPR Research Fellow.
Email: gdellariccia@imf.org
Fluent In: Italian.
Education:
Massachusetts Institute of Technology, Ph.D. in Economics (1997)
Universita’ di Roma “La Sapienza”, Laurea in Scienze Statistiche ed Economiche (Summa cum Laude).
1993-1995, Fellowship “Luciano Jona” Compagnia di San Paolo, Turin. 1995-1996, Fellowship Banca Nazionale del Lavoro, Rome.
Refereed Activities:
American Economic Review, Review of Economic Studies, Journal of Finance, Journal of Financial Economics, Econometrica, Review of Financial Studies, European Economic Review, RAND Journal of Economics, Economic Journal, IMF Staff Papers, Journal of Financial Services Research, Journal of International Economics, Review of International Economics, World Bank Economic Review, Journal of Banking and Finance, The Manchester School, Journal of Development Economics, Journal of Financial Intermediation, Journal of Money, Credit, and Banking, Journal of the European Economic Association.
Work in progress:
Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States (with Luc Laeven and Gustavo Suarez)
Interest Rates and the Bank Risk-Taking Channel (with Robert Marquez)
Creditless Recoveries (with A. Abiad and B. Li)
Bailouts, Contagion, and Bank Risk-Taking (with Lev Ratnovsky)
IMF Books and Working Papers:
Rethinking Macro Policy II: Getting Granular, Staff Discussion Notes No. 13/3, April 15, 2013
A Banking Union for the Euro Area, Staff Discussion Notes No. 13/1, February 12, 2013
Policies for Macrofinancial Stability: How to Deal with Credit Booms, Staff Discussion Notes No. 12/6, June 07, 2012
How to Deal with Real Estate Booms: Lessons from Country Experiences, Working Paper No. 11/91, April 01, 2011
Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms, Staff Discussion Notes No. 11/2, March 01, 2011
Creditless Recoveries, Working Paper No. 11/58, March 01, 2011
Monetary Policy, Leverage, and Bank Risk-Taking, Working Paper No. 10/276, December 01, 2010
Monetary Policy and Bank Risk-Taking, Staff Position Note No. 2010/9, July 27, 2010
Rethinking Macroeconomic Policy, Staff Position Note No. 2010/3, February 12, 2010
Risk and the Corporate Structure of Banks, Working Paper No. 10/40, February 01, 2010
Lessons and Policy Implications from the Global Financial Crisis, Working Paper No. 10/44, February 01, 2010
Reaping the Benefits of Financial Globalization, Occasional Paper No. 264, December 16, 2008
Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market, Working Paper No. 08/106, April 01, 2008
The Real Effect of Banking Crises, Working Paper No. 05/63, March 01, 2005
Early Birds, Late Risers, and Sleeping Beauties: Bank Credit Growth to the Private Sector in Central and Eastern Europe and in the Balkans, Working Paper No. 03/213, November 01, 2003
Budget Support versus Project Aid, Working Paper No. 03/88, April 01, 2003
Moral Hazard and International Crisis Lending: A Test, Working Paper No. 02/181, October 01, 2002
Limits of Conditionality in Poverty Reduction Programs, Working Paper No. 02/115, July 01, 2002
Competition Among Regulators, Working Paper No. 01/73, May 01, 2001
Flight to Quality or to Captivity? Information and Credit Allocation, Working Paper No. 01/20, February 01, 2001
Bank Competition and Firm Creation, Working Paper No. 01/21, January 01, 2001
Liberalizing Capital Movements:Some Analytical Issues, Economic Issues No. 17, March 16, 1999
Capital Account Liberalization: Theoretical and Practical Aspects, Occasional Paper No. 172, September 30, 1998
Exchange Rate Fluctuations and Trade Flows - Evidence from the European Union, Working Paper No. 98/107, August 01, 1998
Bank Lending and Interest Rate Changes in a Dynamic Matching Model, Working Paper No. 98/93, June 01, 1998
Publications in Refereed Journals
Monetary Policy, Leverage, and Bank Risk Taking (with Luc Laeven and Robert Marquez), Journal of Economic Theory, forthcoming
How to Deal with Real Estate Booms: Lessons from Country Experiences, (with Chris Crowe, Deniz Igan, and Pau Rabanal), Journal of Financial Stability, forthcoming
Credit Booms and Lender Behavior: Evidence from the Subprime Mortgage Market (with Deniz Igan and Luc Laeven, Journal of Money, Credit, and Banking, 2012, Vol. 44, No. 2-3 (March-April), pp. 367-84.
Gross Credit Flows (with Pietro Garibaldi), Review of Economic Studies, 2005, Vol. 72, No. 3.
Other/Non-IMF Publications
Property Prices and Bank Risk Taking in "Property Markets and Financial Stability", A. Heath, F. Packer and C. Windsor Eds., Reserve Bank of Australia, 2012 www.rba.gov.au/publications/confs/2012/dellariccia.pdf
Speed Kills? Mortgage Credit Boom and the Crisis (with Deniz Igan and Luc Laeven), 2010, in Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future , ed. Robert Kolb, Wiley: New York.
Rethinking macro policy (with Olivier Blanchard and Paolo Mauro), 2010, VoxEU.ORG
Cinque domande per il dopo crisi (with Olivier Blanchard and Paolo Mauro), 2010, LaVoce.info
Discussion of "The Age of Reason: Financial Decisions over the Life Cycle and Implications for Regulation", Brookings Papers on Economic Activity , Fall, 2009
Asset Price Booms: How Can They Best Be Managed? Finance and Development, June 2009.
The Relationship between the Recent Boom and the Current Delinquencies in Subprime Mortgages (with Deniz Igan and Luc Laeven), 2008, in The First Global Financial Crisis of the 21st Century, eds. Andrew Felton and Carmen Reinhart, CEPR: London, UK
The U.S. Subprime Mortgage Crisis: A Credit Boom Gone Bad? (with Deniz Igan, and Luc Laeven), 2008, Proceedings, Federal Reserve Bank of Chicago, May, 201-204.
Credit Booms: the Good, the Bad, and the Ugly. Thailand: Selected Issues, 2006.
Giovanni Dell'Ariccia is an Advisor in the Research Department where he coordinates the activities of the Macro-Financial Linkages Unit. Previously he worked in the Asia and Pacific Department. His research interests include: Banking; the Macroeconomics of Credit; International Finance; and Conditionality in International Lending and Aid Programs. He is a CEPR Research Fellow.
Email: gdellariccia@imf.org
Fluent In: Italian.
Education:
Massachusetts Institute of Technology, Ph.D. in Economics (1997)
Universita’ di Roma “La Sapienza”, Laurea in Scienze Statistiche ed Economiche (Summa cum Laude).
1993-1995, Fellowship “Luciano Jona” Compagnia di San Paolo, Turin. 1995-1996, Fellowship Banca Nazionale del Lavoro, Rome.
Refereed Activities:
American Economic Review, Review of Economic Studies, Journal of Finance, Journal of Financial Economics, Econometrica, Review of Financial Studies, European Economic Review, RAND Journal of Economics, Economic Journal, IMF Staff Papers, Journal of Financial Services Research, Journal of International Economics, Review of International Economics, World Bank Economic Review, Journal of Banking and Finance, The Manchester School, Journal of Development Economics, Journal of Financial Intermediation, Journal of Money, Credit, and Banking, Journal of the European Economic Association.
Work in progress:
Bank Leverage and Monetary Policy’s Risk-Taking Channel: Evidence from the United States (with Luc Laeven and Gustavo Suarez)
Interest Rates and the Bank Risk-Taking Channel (with Robert Marquez)
Creditless Recoveries (with A. Abiad and B. Li)
Bailouts, Contagion, and Bank Risk-Taking (with Lev Ratnovsky)
IMF Books and Working Papers:
Rethinking Macro Policy II: Getting Granular, Staff Discussion Notes No. 13/3, April 15, 2013
A Banking Union for the Euro Area, Staff Discussion Notes No. 13/1, February 12, 2013
Policies for Macrofinancial Stability: How to Deal with Credit Booms, Staff Discussion Notes No. 12/6, June 07, 2012
How to Deal with Real Estate Booms: Lessons from Country Experiences, Working Paper No. 11/91, April 01, 2011
Policies for Macrofinancial Stability: Options to Deal with Real Estate Booms, Staff Discussion Notes No. 11/2, March 01, 2011
Creditless Recoveries, Working Paper No. 11/58, March 01, 2011
Monetary Policy, Leverage, and Bank Risk-Taking, Working Paper No. 10/276, December 01, 2010
Monetary Policy and Bank Risk-Taking, Staff Position Note No. 2010/9, July 27, 2010
Rethinking Macroeconomic Policy, Staff Position Note No. 2010/3, February 12, 2010
Risk and the Corporate Structure of Banks, Working Paper No. 10/40, February 01, 2010
Lessons and Policy Implications from the Global Financial Crisis, Working Paper No. 10/44, February 01, 2010
Reaping the Benefits of Financial Globalization, Occasional Paper No. 264, December 16, 2008
Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market, Working Paper No. 08/106, April 01, 2008
The Real Effect of Banking Crises, Working Paper No. 05/63, March 01, 2005
Early Birds, Late Risers, and Sleeping Beauties: Bank Credit Growth to the Private Sector in Central and Eastern Europe and in the Balkans, Working Paper No. 03/213, November 01, 2003
Budget Support versus Project Aid, Working Paper No. 03/88, April 01, 2003
Moral Hazard and International Crisis Lending: A Test, Working Paper No. 02/181, October 01, 2002
Limits of Conditionality in Poverty Reduction Programs, Working Paper No. 02/115, July 01, 2002
Competition Among Regulators, Working Paper No. 01/73, May 01, 2001
Flight to Quality or to Captivity? Information and Credit Allocation, Working Paper No. 01/20, February 01, 2001
Bank Competition and Firm Creation, Working Paper No. 01/21, January 01, 2001
Liberalizing Capital Movements:Some Analytical Issues, Economic Issues No. 17, March 16, 1999
Capital Account Liberalization: Theoretical and Practical Aspects, Occasional Paper No. 172, September 30, 1998
Exchange Rate Fluctuations and Trade Flows - Evidence from the European Union, Working Paper No. 98/107, August 01, 1998
Bank Lending and Interest Rate Changes in a Dynamic Matching Model, Working Paper No. 98/93, June 01, 1998
Publications in Refereed Journals
Monetary Policy, Leverage, and Bank Risk Taking (with Luc Laeven and Robert Marquez), Journal of Economic Theory, forthcoming
How to Deal with Real Estate Booms: Lessons from Country Experiences, (with Chris Crowe, Deniz Igan, and Pau Rabanal), Journal of Financial Stability, forthcoming
Credit Booms and Lender Behavior: Evidence from the Subprime Mortgage Market (with Deniz Igan and Luc Laeven, Journal of Money, Credit, and Banking, 2012, Vol. 44, No. 2-3 (March-April), pp. 367-84.
Gross Credit Flows (with Pietro Garibaldi), Review of Economic Studies, 2005, Vol. 72, No. 3.
Other/Non-IMF Publications
Property Prices and Bank Risk Taking in "Property Markets and Financial Stability", A. Heath, F. Packer and C. Windsor Eds., Reserve Bank of Australia, 2012 www.rba.gov.au/publications/confs/2012/dellariccia.pdf
Speed Kills? Mortgage Credit Boom and the Crisis (with Deniz Igan and Luc Laeven), 2010, in Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future , ed. Robert Kolb, Wiley: New York.
Rethinking macro policy (with Olivier Blanchard and Paolo Mauro), 2010, VoxEU.ORG
Cinque domande per il dopo crisi (with Olivier Blanchard and Paolo Mauro), 2010, LaVoce.info
Discussion of "The Age of Reason: Financial Decisions over the Life Cycle and Implications for Regulation", Brookings Papers on Economic Activity , Fall, 2009
Asset Price Booms: How Can They Best Be Managed? Finance and Development, June 2009.
The Relationship between the Recent Boom and the Current Delinquencies in Subprime Mortgages (with Deniz Igan and Luc Laeven), 2008, in The First Global Financial Crisis of the 21st Century, eds. Andrew Felton and Carmen Reinhart, CEPR: London, UK
The U.S. Subprime Mortgage Crisis: A Credit Boom Gone Bad? (with Deniz Igan, and Luc Laeven), 2008, Proceedings, Federal Reserve Bank of Chicago, May, 201-204.
Credit Booms: the Good, the Bad, and the Ugly. Thailand: Selected Issues, 2006.