Carlo Favero

Carlo Favero is Professor of Economics and holds Deutsche Bank Chair in Quantitative Finance and Asset Pricing. He holds a PhD from Oxford University, where he was a member of the Oxford Econometrics Research Centre. At Bocconi University, he served as Professor of Econometrics from 1994 to 2001, before becoming Professor of Economics in 2002. In 2009, he joined the newly established Department of Finance, where he continued to teach Econometrics, and since 2023 he has held a dual affiliation with both the Department of Economics and the Department of Finance.

His research has been published in leading scholarly journals and covers econometric modelling of bond and stock prices, applied econometrics, monetary and fiscal policy, and time-series models for macroeconomics and finance. He is a research fellow of CEPR in the International Macroeconomics programme, as well as a fellow of the Innocenzo Gasparini Institute for Economic Research and the newly created Institute for European Policymaking at Bocconi University.

Professor Favero has advised the Italian Ministry of Treasury on the development of a stock-flow consistent econometric model of the Italian economy, and has consulted for the European Commission, the World Bank, and the European Central Bank on issues related to monetary policy, the transmission mechanism, and bond markets.

He is also co-author, with Alberto Alesina and Francesco Giavazzi, of the book Austerity: When It Works and When It Doesn’t (Princeton University Press, 2019), which has been translated into Chinese, Spanish, and Italian. In May 2020, the book was awarded the Hayek Book Prize by the Manhattan Institute.