{
  "title": "Alessia De Stefani",
  "sourceUrl": "https://www.imf.org/en/research/researcher-cv/author/alessia-destefani",
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  "summary": "Alessia De Stefani is an Economist in the Macro-Financial Division of the IMF's Research Department. Prior to joining the IMF, Alessia was a Research Economist at the Danish Central Bank (Danmarks Nationalbank) and an Economist at the OECD. Her research focuses on housing markets and household finance. Alessia holds a PhD from the University of Edinburgh and a MSc in Economics and Social Sciences from Bocconi University.",
  "authors": [
    "Alessia De Stefani"
  ],
  "sections": [
    {
      "heading": "Biography",
      "content": "Alessia De Stefani is an Economist in the Macro-Financial Division of the IMF's Research Department. Prior to joining the IMF, Alessia was a Research Economist at the Danish Central Bank (Danmarks Nationalbank) and an Economist at the OECD. Her research focuses on housing markets and household finance. Alessia holds a PhD from the University of Edinburgh and a MSc in Economics and Social Sciences from Bocconi University."
    },
    {
      "heading": "Education",
      "content": "- PhD in Economics, University of Edinburgh, 2017\n\n- MSc Economics and Social Sciences, Bocconi University, 2011"
    },
    {
      "heading": "Previous Experience",
      "content": "- 2020-2023: Economist, Asia and Pacific Department, International Monetary Fund\n\n- 2017-2020: Research Economist, Danmarks Nationalbank\n\n- 2016-2017: Economist/Policy Analyst, Organization for Economic Cooperation and Development"
    },
    {
      "heading": "Referee Activities",
      "content": "- The Review of Economics and Statistics; Journal of Money Credit and Banking; Journal of Housing Economics; Economic Letters; Scandinavian Journal of Economics; International Journal of Central Banking"
    },
    {
      "heading": "Country work or Mission Assignment",
      "content": "- Cambodia (2020-2023)\n\n- Lao PDR (2020-2023)"
    },
    {
      "heading": "IMF Direct Blog Posts",
      "content": "- Housing is One Reason not all Countries Feel Same Pinch of Higher Interest Rates"
    },
    {
      "heading": "IMF Books and Working Papers",
      "content": "- Missing Home-Buyers and Rent Inflation: The Role of Interest Rates and Mortgage Underwriting Standards, Working Paper No. 2025/090 , May 9, 2025\n\n- Long-Term Debt and Short-Term Rates: Fixed-Rate Mortgages and Monetary Transmission, Working Paper No. 2025/024 , January 24, 2025\n\n- Accelerating Innovation and Digitalization in Asia to Boost Productivity, Departmental Paper No 2023/001 , January 9, 2023\n\n- Household Vulnerability to Income Shocks in Emerging and Developing Asia: the Case of Cambodia, Nepal and Vietnam, Working Paper No. 2022/064 , April 1, 2022"
    },
    {
      "heading": "IMF Country Reports",
      "content": "- 2023- Lao PDR Staff Report\n\n- 2022- Cambodia Staff Report\n\n- 2021- Cambodia Staff Report"
    },
    {
      "heading": "F&D articles",
      "content": "- Housing Markets and Monetary Policy"
    },
    {
      "heading": "Other Published Materials",
      "content": "- World Economic Outlook, April 2024, Chapter 2: Feeling the Pinch? Tracing the Effects of Monetary Policy through Housing Markets"
    },
    {
      "heading": "Publications in Journals (Referred)",
      "content": "- \"Spending Response to a Predictable Increase in Mortgage Repayments: Evidence from Expiring Interest-Only Loans\", with Henrik Yde Andersen and Stine Ludvig Bech, The Review of Economics and Statistics, 106 (1), Pages 277-285, 2024\n\n- \"House Price History, Biased Expectations and Credit Cycles: the Role of Housing Investors\" Real Estate Economics, 49: 1238– 1266 , 2021\n\n- \"Debt, Inequality and House Prices: Explaining the Dynamics of Household Borrowing Prior to the Great Recession\" , Journal of Housing Economics, 47: 2020"
    },
    {
      "heading": "Publications in Books and Conference Volumes",
      "content": "- \"Beliefs and Risk Taking\", with Kaspar Zimmermann In \"Leveraged: The New Economics of Debt and Financial Fragility\", Chicago University Press, 2022"
    },
    {
      "heading": "Other Published Materials",
      "content": "- \"The Geography of Firm Dynamics\" , OECD Publishing, Paris, 2017"
    }
  ],
  "bullets": [
    "PhD in Economics, University of Edinburgh, 2017",
    "MSc Economics and Social Sciences, Bocconi University, 2011",
    "2020-2023: Economist, Asia and Pacific Department, International Monetary Fund",
    "2017-2020: Research Economist, Danmarks Nationalbank",
    "2016-2017: Economist/Policy Analyst, Organization for Economic Cooperation and Development",
    "The Review of Economics and Statistics; Journal of Money Credit and Banking; Journal of Housing Economics; Economic Letters; Scandinavian Journal of Economics; International Journal of Central Banking",
    "Cambodia (2020-2023)",
    "Lao PDR (2020-2023)",
    "[Housing is One Reason not all Countries Feel Same Pinch of Higher Interest Rates](https://www.imf.org/en/Blogs/Articles/2024/04/08/housing-is-one-reason-not-all-countries-feel-same-pinch-of-higher-interest-rates)",
    "[Missing Home-Buyers and Rent Inflation: The Role of Interest Rates and Mortgage Underwriting Standards](https://www.imf.org/en/publications/wp/issues/2025/05/09/missing-home-buyers-and-rent-inflation-the-role-of-interest-rates-and-mortgage-underwriting-566798), Working Paper No. 2025/090 , May 9, 2025",
    "[Long-Term Debt and Short-Term Rates: Fixed-Rate Mortgages and Monetary Transmission](https://www.imf.org/en/publications/wp/issues/2025/01/24/long-term-debt-and-short-term-rates-fixed-rate-mortgages-and-monetary-transmission-560270), Working Paper No. 2025/024 , January 24, 2025",
    "[Accelerating Innovation and Digitalization in Asia to Boost Productivity](https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2023/01/08/accelerating-innovation-and-digitalization-in-asia-to-boost-productivity-523807), Departmental Paper No 2023/001 , January 9, 2023",
    "[Household Vulnerability to Income Shocks in Emerging and Developing Asia: the Case of Cambodia, Nepal and Vietnam](https://www.imf.org/en/publications/wp/issues/2022/04/01/household-vulnerability-to-income-shocks-in-emerging-and-developing-asia-the-case-of-515960), Working Paper No. 2022/064 , April 1, 2022",
    "[2023- Lao PDR Staff Report](https://www.imf.org/en/Publications/CR/Issues/2023/05/22/Lao-People-s-Democratic-Republic-2023-Article-IV-Consultation-Press-Release-Staff-Report-533636)",
    "[2022- Cambodia Staff Report](https://www.imf.org/en/Publications/CR/Issues/2022/12/15/Cambodia-2022-Article-IV-Consultation-Press-Release-Staff-Report-and-Statement-by-the-526993)",
    "[2021- Cambodia Staff Report](https://www.imf.org/en/Publications/CR/Issues/2021/12/08/Cambodia-2021-Article-IV-Consultation-Press-Release-and-Staff-Report-510848)",
    "[Housing Markets and Monetary Policy](https://www.imf.org/en/publications/fandd/issues/2024/12/housing-markets-and-monetary-policy-mehdi-andaloussi)",
    "[World Economic Outlook, April 2024, Chapter 2: Feeling the Pinch? Tracing the Effects of Monetary Policy through Housing Markets](https://www.imf.org/en/Publications/WEO/Issues/2024/04/16/world-economic-outlook-april-2024)",
    "[\"Spending Response to a Predictable Increase in Mortgage Repayments: Evidence from Expiring Interest-Only Loans\", with Henrik Yde Andersen and Stine Ludvig Bech, The Review of Economics and Statistics, 106 (1), Pages 277-285, 2024](https://direct.mit.edu/rest/article-abstract/106/1/277/108826/Spending-Response-to-a-Predictable-Increase-in?redirectedFrom=fulltext)",
    "[\"House Price History, Biased Expectations and Credit Cycles: the Role of Housing Investors\" Real Estate Economics, 49: 1238– 1266 , 2021](https://onlinelibrary.wiley.com/doi/abs/10.1111/1540-6229.12328)",
    "[\"Debt, Inequality and House Prices: Explaining the Dynamics of Household Borrowing Prior to the Great Recession\" , Journal of Housing Economics, 47: 2020](https://www.sciencedirect.com/science/article/abs/pii/S1051137717302693)",
    "[\"Beliefs and Risk Taking\", with Kaspar Zimmermann In \"Leveraged: The New Economics of Debt and Financial Fragility\", Chicago University Press, 2022](https://press.uchicago.edu/ucp/books/book/chicago/L/bo154076466.html)",
    "[\"The Geography of Firm Dynamics\" , OECD Publishing, Paris, 2017](https://www.oecd.org/en/publications/the-geography-of-firm-dynamics_9789264286764-en.html)",
    "**Alessia De Stefani: Curriculum Vitae**"
  ],
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