Damiano Sandri

Last Updated: November 15, 2020

Damiano Sandri

Damiano Sandri is Deputy Division Chief in the Macro-Financial Division of the IMF Research Department. Prior to his current assignment, he was Deputy Division Chief in the World Economic Studies Division where he led the work on several analytical chapters of the World Economic Outlook. Damiano was also a Senior Economist for Brazil and a program reviewer for Greece and Ukraine. During his IMF career, he joined Article IV and program missions to Brazil, Germany, Norway, Slovakia, the United Kingdom, and Ukraine. He holds a PhD in Economics from the Johns Hopkins University and his main research interests are in macroeconomics, international finance, and monetary policy. Damiano has published in top academic journals, including the American Economic Journal: Macroeconomics, Journal of International Economics, and Journal of Development Economics, and has contributed to various IMF policy publications, among which IMF Board Papers, Staff Discussion Notes, and the World Economic Outlook. Damiano is a CEPR Research Fellow.

Email: DSANDRI@imf.org

Personal WebPage: http://sites.google.com/site/damianosandri/

Fluent In: Italian.

Education:

PhD in Economics, 2009, Johns Hopkins University

MA in Economics, 2006, Johns Hopkins University

Post-Graduate Diploma in International Relations, 2004, School of Advanced International Studies (JHU)


Referee Activities:

American Economic Review, American Economic Journal: Macroeconomics, Journal of Monetary Economics, Journal of the European Economic Association, Review of Economics and Statistics, Journal of International Economics, Journal of Development Economics, Journal of Economic Theory, Quantitative Economics, Economic Journal, Review of Economic Dynamics, IMF Economic Review, Berkeley Electronic Journal of Macroeconomics, Journal of International Money and Finance, Macroeconomic Dynamics, Journal of Financial Stability.


Field of Expertise:

Macro-Financial Issues

International Finance

Monetary Policy

IMF Books and Working Papers:

Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age , Working Paper No. 2020/282 , December 11, 2020

Protecting Lives and Livelihoods with Early and Tight Lockdowns , Working Paper No. 20/234 , November 08, 2020

Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)? , Working Paper No. 20/106 , June 26, 2020

FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability , Working Paper No. 20/90 , June 12, 2020

The Expansionary Lower Bound: Contractionary Monetary Easing and the Trilemma , Working Paper No. 18/236 , November 02, 2018

Structural Reform Priorities for Brazil , Working Paper No. 18/224 , October 08, 2018

Trade-offs in Bank Resolution , February 09, 2018

Dealing with Systemic Sovereign Debt Crises: Fiscal Consolidation, Bail-ins or Official Transfers? , Working Paper No. 15/223 , October 16, 2015

Capital Controls or Macroprudential Regulation? , Working Paper No. 15/218 , October 01, 2015

How Delaying Fiscal Consolidation Affects the Present Value of GDP , Working Paper No. 15/52 , March 05, 2015

Debt and Growth: Is There a Magic Threshold? , Working Paper No. 14/34 , February 13, 2014

Balance-Sheet Shocks and Recapitalizations , Working Paper No. 12/68 , March 01, 2012

Precautionary Savings in the Great Recession , Working Paper No. 12/42 , February 01, 2012

The Eurozone Crisis : How Banks and Sovereigns Came to Be Joined At the Hip , Working Paper No. 11/269 , November 01, 2011

Precautionary Savings and Global Imbalances in World General Equilibrium , Working Paper No. 11/122 , June 01, 2011

Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia , Working Paper No. 11/46 , March 01, 2011

Growth and Capital Flows with Risky Entrepreneurship , Working Paper No. 10/37 , February 01, 2010

U.S. Consumption after the 2008 Crisis , Staff Position Note No. 2010/01 , January 15, 2010

Macro-Hedging for Commodity Exporters , Working Paper No. 09/229 , October 01, 2009

Other Published Materials

"The Great Lockdown: Dissecting the Economic Effects," with F. Caselli, F. Grigoli, and W. Lian, World Economic Outlook, Chapter 2, October 2020.

"Dampening Global Financial Shocks in Emerging Markets: Can Macroprudential Regulation Help?" with K. Bergant, F. Grigoli, and N. Hansen, World Economic Outlook, Chapter 3, April 2020.

"The Yin and Yang of Capital Flow Management: Balancing Capital Inflows with Capital Outflows," with J. Benes, J. Guajardo and J. Simon, World Economic Outlook, Chapter 4 Fall 2013.

"The Dog that Didn't Bark: Has Inflation Been Muzzled or Was It Just Sleeping?," with T. Matheson and J. Simon, World Economic Outlook, Chapter 3 Spring 2013.

"The Good, the Bad, and the Ugly: 100 Years of Dealing with Public Debt Overhangs," with A. Pescatori and J. Simon, World Economic Outlook, Chapter 3 Fall 2012.

Publications in Journals (Refereed)

"Optimal Reserves in Financially Closed Economies," with O. Jeanne, Journal of International Money and Finance, 104: 102178, 2020.

"Dealing with Systemic Sovereign Debt Crises: Fiscal Consolidation, Bail-ins or Bail-outs?," IMF Economic Review, 66(4): 665-693, 2018.

"Unconventional Monetary Policies in the Euro Area, Japan and the UK," with G. Dell'Ariccia and P. Rabanal. Journal of Economic Perspectives, 32(4): 147-172, 2018.

"Capital Controls or Macroprudential Regulation?," with A. Korinek, Journal of International Economics, 99(s1): 27-42, 2016.

"Growth and Capital Flows with Risky Entrepreneurship," American Economic Journal: Macroeconomics, 6(3): 102-123, 2014.

"Financial Crises and Recapitalizations," with F. Valencia, Journal of Money, Credit and Banking, 45(s2): 59-86, 2013.

"Macro-Hedging for Commodity Exporters," with E. Borensztein and O. Jeanne, Journal of Development Economics, 101: 105-116, 2013.

"The Eurozone Crisis: How Banks and Sovereigns Came to be Joined at the Hip," with A. Mody, Economic Policy, 27(70): 199-230, 2012.

"Precautionary Savings in the Great Recession," with A. Mody and F. Ohnsorge, IMF Economic Review, 60(1): 114-138, 2012.

"Measuring Distortions to Agricultural Incentives, Revisited," with K. Anderson et al., World Trade Review, 7(4): 675-704, 2008.

"Distortions in Farmer Prices since the 1950s: South Africa in International Perspective," with K. Anderson et al., Agrekon, 46(4): 427-459, 2007.

Publications in Books and Conference Volumes

"Agricultural Distortion Patterns since the 1950s: What Needs Explaining," with K. Anderson et al., Ch.2 in The Political Economy of Agricultural Price Distortions, 2010, Cambridge University Press

"Distortions to Agricultural Incentives in Ecuador," with E. Valenzuela and S. Wong, Ch.7 in Distortions to Agricultural Incentives in Latin America, 2008, published by the World Bank, Washington DC

"Methodology for Measuring Distortions to Agricultural Incentives," with K. Anderson et al., Appendix A in the Distortions to Agricultural Incentives volumes for Latin America (2008), Europe's Transition Economies (2008), Africa (2009), and Asia (2009), published by the World Bank, Washington DC

Damiano Sandri

Damiano Sandri is Deputy Division Chief in the Macro-Financial Division of the IMF Research Department. Prior to his current assignment, he was Deputy Division Chief in the World Economic Studies Division where he led the work on several analytical chapters of the World Economic Outlook. Damiano was also a Senior Economist for Brazil and a program reviewer for Greece and Ukraine. During his IMF career, he joined Article IV and program missions to Brazil, Germany, Norway, Slovakia, the United Kingdom, and Ukraine. He holds a PhD in Economics from the Johns Hopkins University and his main research interests are in macroeconomics, international finance, and monetary policy. Damiano has published in top academic journals, including the American Economic Journal: Macroeconomics, Journal of International Economics, and Journal of Development Economics, and has contributed to various IMF policy publications, among which IMF Board Papers, Staff Discussion Notes, and the World Economic Outlook. Damiano is a CEPR Research Fellow.

Email: DSANDRI@imf.org

Personal WebPage: http://sites.google.com/site/damianosandri/

Fluent In: Italian.

Education:

PhD in Economics, 2009, Johns Hopkins University

MA in Economics, 2006, Johns Hopkins University

Post-Graduate Diploma in International Relations, 2004, School of Advanced International Studies (JHU)


Referee Activities:

American Economic Review, American Economic Journal: Macroeconomics, Journal of Monetary Economics, Journal of the European Economic Association, Review of Economics and Statistics, Journal of International Economics, Journal of Development Economics, Journal of Economic Theory, Quantitative Economics, Economic Journal, Review of Economic Dynamics, IMF Economic Review, Berkeley Electronic Journal of Macroeconomics, Journal of International Money and Finance, Macroeconomic Dynamics, Journal of Financial Stability.


Field of Expertise:

Macro-Financial Issues

International Finance

Monetary Policy

IMF Books and Working Papers:

Mobility under the COVID-19 Pandemic: Asymmetric Effects across Gender and Age , Working Paper No. 2020/282 , December 11, 2020

Protecting Lives and Livelihoods with Early and Tight Lockdowns , Working Paper No. 20/234 , November 08, 2020

Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)? , Working Paper No. 20/106 , June 26, 2020

FX Intervention to Stabilize or Manipulate the Exchange Rate? Inference from Profitability , Working Paper No. 20/90 , June 12, 2020

The Expansionary Lower Bound: Contractionary Monetary Easing and the Trilemma , Working Paper No. 18/236 , November 02, 2018

Structural Reform Priorities for Brazil , Working Paper No. 18/224 , October 08, 2018

Trade-offs in Bank Resolution , February 09, 2018

Dealing with Systemic Sovereign Debt Crises: Fiscal Consolidation, Bail-ins or Official Transfers? , Working Paper No. 15/223 , October 16, 2015

Capital Controls or Macroprudential Regulation? , Working Paper No. 15/218 , October 01, 2015

How Delaying Fiscal Consolidation Affects the Present Value of GDP , Working Paper No. 15/52 , March 05, 2015

Debt and Growth: Is There a Magic Threshold? , Working Paper No. 14/34 , February 13, 2014

Balance-Sheet Shocks and Recapitalizations , Working Paper No. 12/68 , March 01, 2012

Precautionary Savings in the Great Recession , Working Paper No. 12/42 , February 01, 2012

The Eurozone Crisis : How Banks and Sovereigns Came to Be Joined At the Hip , Working Paper No. 11/269 , November 01, 2011

Precautionary Savings and Global Imbalances in World General Equilibrium , Working Paper No. 11/122 , June 01, 2011

Current Account Rebalancing and Real Exchange Rate Adjustment Between the U.S. and Emerging Asia , Working Paper No. 11/46 , March 01, 2011

Growth and Capital Flows with Risky Entrepreneurship , Working Paper No. 10/37 , February 01, 2010

U.S. Consumption after the 2008 Crisis , Staff Position Note No. 2010/01 , January 15, 2010

Macro-Hedging for Commodity Exporters , Working Paper No. 09/229 , October 01, 2009

Other Published Materials

"The Great Lockdown: Dissecting the Economic Effects," with F. Caselli, F. Grigoli, and W. Lian, World Economic Outlook, Chapter 2, October 2020.

"Dampening Global Financial Shocks in Emerging Markets: Can Macroprudential Regulation Help?" with K. Bergant, F. Grigoli, and N. Hansen, World Economic Outlook, Chapter 3, April 2020.

"The Yin and Yang of Capital Flow Management: Balancing Capital Inflows with Capital Outflows," with J. Benes, J. Guajardo and J. Simon, World Economic Outlook, Chapter 4 Fall 2013.

"The Dog that Didn't Bark: Has Inflation Been Muzzled or Was It Just Sleeping?," with T. Matheson and J. Simon, World Economic Outlook, Chapter 3 Spring 2013.

"The Good, the Bad, and the Ugly: 100 Years of Dealing with Public Debt Overhangs," with A. Pescatori and J. Simon, World Economic Outlook, Chapter 3 Fall 2012.

Publications in Journals (Refereed)

"Optimal Reserves in Financially Closed Economies," with O. Jeanne, Journal of International Money and Finance, 104: 102178, 2020.

"Dealing with Systemic Sovereign Debt Crises: Fiscal Consolidation, Bail-ins or Bail-outs?," IMF Economic Review, 66(4): 665-693, 2018.

"Unconventional Monetary Policies in the Euro Area, Japan and the UK," with G. Dell'Ariccia and P. Rabanal. Journal of Economic Perspectives, 32(4): 147-172, 2018.

"Capital Controls or Macroprudential Regulation?," with A. Korinek, Journal of International Economics, 99(s1): 27-42, 2016.

"Growth and Capital Flows with Risky Entrepreneurship," American Economic Journal: Macroeconomics, 6(3): 102-123, 2014.

"Financial Crises and Recapitalizations," with F. Valencia, Journal of Money, Credit and Banking, 45(s2): 59-86, 2013.

"Macro-Hedging for Commodity Exporters," with E. Borensztein and O. Jeanne, Journal of Development Economics, 101: 105-116, 2013.

"The Eurozone Crisis: How Banks and Sovereigns Came to be Joined at the Hip," with A. Mody, Economic Policy, 27(70): 199-230, 2012.

"Precautionary Savings in the Great Recession," with A. Mody and F. Ohnsorge, IMF Economic Review, 60(1): 114-138, 2012.

"Measuring Distortions to Agricultural Incentives, Revisited," with K. Anderson et al., World Trade Review, 7(4): 675-704, 2008.

"Distortions in Farmer Prices since the 1950s: South Africa in International Perspective," with K. Anderson et al., Agrekon, 46(4): 427-459, 2007.

Publications in Books and Conference Volumes

"Agricultural Distortion Patterns since the 1950s: What Needs Explaining," with K. Anderson et al., Ch.2 in The Political Economy of Agricultural Price Distortions, 2010, Cambridge University Press

"Distortions to Agricultural Incentives in Ecuador," with E. Valenzuela and S. Wong, Ch.7 in Distortions to Agricultural Incentives in Latin America, 2008, published by the World Bank, Washington DC

"Methodology for Measuring Distortions to Agricultural Incentives," with K. Anderson et al., Appendix A in the Distortions to Agricultural Incentives volumes for Latin America (2008), Europe's Transition Economies (2008), Africa (2009), and Asia (2009), published by the World Bank, Washington DC