Cristiano Cantore

Cristiano Cantore

Professor of Economics

Department of Economics and Law

Sapienza University of Rome

I am a Professor of Economics at the Department of Economics and Law of Sapienza University of Rome. I am also an affiliate at the Centre for Macroeconomics and a Fellow at the Rimini Centre for Economic Analysis.

What’s new?

Interests

  • Business Cycles
  • Monetary and Fiscal Policy
  • Labor Market
  • Inequality

Education

  • PhD in Economics, 2010

    University of Kent

  • MSc in Economics, 2005

    Universitat Pompeu Fabra

  • BSc in Economics and Statistics, 2004

    Università Commerciale Luigi Bocconi

Biography

I was born in Potenza, Basilicata (Italy), on the 5th of May 1981. In 2004 I graduated from Bocconi University and I moved to Barcelona to study an MSc in Economics at Pompeu Fabra University. After a one-year scholarship at Carlos III University in Madrid, in 2006 I moved to the University of Kent in Canterbury (UK) as a Ph.D. student. In September 2009 I started as a Lecturer (Assistant Professor) at the University of Surrey where I have also contributed to the creation and development of the Centre for International Macroeconomic Studies. In April 2013 I was promoted to Senior Lecturer and in August 2018 to Reader. In September 2018 I joined the Research Hub of the Bank of England as a Senior Research Economist. In July 2021 I have been promoted to Research Advisor. In March 2023 I left the Bank of England and the University of Surrey to join Sapienza University of Rome as a Full Professor in Economics. Over the years I’ve also been at OECD and ECB as an intern, at the Banco de España as a research fellow, at the University of California San Diego as a visiting professor, a pole lead director at the Centre for Macroeconomics and a Guest teacher of Monetary Economics in the MSc of the London School of Economics .

Web Analytics Made Easy - StatCounter

Work in Progress

Cristiano Cantore, Giovanni Di Bartolomeo, Francesco Saverio Gaudio (2025). The Unequal Costs of Pollution: Carbon Tax, Inequality, and Redistribution. Submitted.

Working Paper

Cristiano Cantore, Vedanta Dhamija (2024). The Perils of a Dual Mandate. Submitted.

Working Paper

Cristiano Cantore, Filippo Ferroni, Haroon Muntaz, Angeliki Theophilopoulou (2023). A tail of labor supply and a tale of monetary policy. R & R, Journal of the European Economic Association.

Chicago Fed Letter Non-technical summary CFM WP

Publications

Cristiano Cantore, Edoardo Leonardi (2025). Monetary-Fiscal Interaction and the Liquidity of Government Debt. European Economic Review, Forthcoming.

Published Version - Open access Codes

Cristiano Cantore, Pascal Meichtry (2024). Unwinding quantitative easing: state dependency and household heterogeneity. European Economic Review, vol 170, 104865.

Published Version Online Appendix Code Banque de France WP (2024) Bank of England SWP (2023)

Cristiano Cantore, Lukas B. Freund (2021). Workers, Capitalists, and the Government: Fiscal Policy and Income (Re)Distribution. Journal of Monetary Economics, vol 119 Pages 58-74.

Published Version - Open access Online Appendix Working Paper Codes

Cristiano Cantore, Filippo Ferroni, Miguel León-Ledesma (2020). The Missing Link: Monetary Policy and The Labor Share. Journal of the European Economic Association, vol 19, Issue 3, 1592-1620.

Published Version BoE SWP Online Appendix CEPR WP Codes Bank Underground VoXEU Bloomberg view Slides

Cristiano Cantore, Paul Levine, Joseph Pearlman, Bo Yang (2019). Optimal Fiscal And Monetary Policy, Debt Crisis, And Management. Macroeconomic Dynamics, vol. 23(3), pages 1166-1204, April.

Published Version Ungated

Cristiano Cantore, Filippo Ferroni, Miguel León-Ledesma (2017). The Dynamics of hours worked and technology. Journal of Economic Dynamics and Control, vol. 82, pages 67-82.

Published Version Ungated Online Appendix

Cristiano Cantore, Paul Levine, Joseph Pearlman, Bo Yang (2015). CES technology and business cycle fluctuations. Journal of Economic Dynamics and Control, vol. 61(C), pages 133-151.

Published Version Ungated Online Appendix

Cristiano Cantore, Paul Levine, Giovanni Melina (2014). A Fiscal Stimulus and Jobless Recovery. Scandinavian Journal of Economics, vol. 116(3), pages 669-701, July.

Published Version IMF WP Online Appendix

Cristiano Cantore, Miguel León-Ledesma, Peter McAdam, Alpo Willman (2014). Shocking Stuff: Technology, Hours, And Factor Substitution. Journal of the European Economic Association, vol. 12(1), pages 108-128, February.

Published Version Ungated Online Appendix

Cristiano Cantore, Paul Levine, Giovanni Melina, Bo Yang (2012). A fiscal stimulus with deep habits and optimal monetary policy. Economics Letters, vol. 117(1), pages 348-353.

Published Version Ungated

Cristiano Cantore, Paul Levine (2012). Getting normalization right: Dealing with ‘dimensional constants’ in macroeconomics. Journal of Economic Dynamics and Control, vol. 36(12), pages 1931-1949.

Published Version Ungated Codes

Discussions

M. Brzoza-Brzezina, J. Jablonska, M. Kolasa, K. Makarski (2024). For whom the bill tolls: redistributive consequences of a monetary-fiscal stimulus. Vienna Macro Workshop - 18/10/2024.

PDF

J. Ha, D. Kim, M. A. Kose, E. S. Prasad (2024). Resolving Puzzles of Monetary Policy Transmission in Emerging Markets. ICMAIF Crete - 1/06/2024.

PDF

A. Lanteri and A. Rampini (2023). Adoption of Clean Technology. FINPRO 3 - Banca d’Italia - 08/06/2023.

PDF

P. Belda, E. Gerba, L.E. Rojas (2023). The Fiscal Channel of Quantitative Easing. ASSA Meetings - 8/01/2023.

PDF

P. Hubert, F. Savignac (2022). Monetary Policy and Labor Income Inequality. Household Heterogeneity Conference, Banque de France - 28/11/2022.

PDF

B. Petrongolo (2022). Gender balance in the household and workplace in the Covid recovery. Royal Economic Society Keynote Address - University of Reading - 11/04/2022.

PDF video

N. Amberg, T. Jansson, M. Klein, A. Rogantini Picco (2021). Five Facts about the Distributional Income Effects of Monetary Policy Shocks. ESCB Research Cluster on Monetary Economics, Fifth Annual workshop - 8/11/2021.

PDF

H. Zhou (2020). Open economy, redistribution, and the aggregate impact of external shocks. 6th BdF-BoE International Macroeconomics Workshop - Bank of England - 3/12/2020.

PDF

K. F. Lewis, F. Vazquez-Grande (2020). Measuring the Natural Rate of Interest: A Note on Transitory Shocks. XXV Meeting of the Central Bank Researchers Network - Banco Central del Uruguay - 28/10/2020.

PDF

J. Abad (2018). Breaking the Feedback Loop: Macroprudential Regulation of Banks' Sovereign Exposures. 17th Workshop on Macroeconomic Dynamics: Theory and Applications - LUISS University Rome - 21/12/2018.

PDF

C. Pizzinelli, F. Zanetti (2017). State Dependence in Labor Market Fluctuations: Evidence, Theory and Policy Implications. 16th Workshop on Macroeconomic Dynamics: Theory and Applications Universita' Cattolica Milano - 21/12/2017.

PDF

T. Assenza, D. Delli Gatti (2013). E Pluribus Unum: Macroeconomic Modelling for Multi-agent Economies. Macro Banking and Finance Workshop - Universita’ degli Studi Milano Bicocca - 20/09/2013.

PDF

F. Alvarez-Cuadrado, N. Van Long, M. Poschke (2012). Capital-Labor Substitution, Structural Change and Growth. Structural Change and Macroeconomic Dynamics Workshop - University of Cagliari - 18/05/2012.

PDF

J. Imbs, C. Montenegro, R. Wacziarg (2012). Economic Integration and Structural Change. 2nd workshop on Structural Change and Macroeconomic Dynamics - University of Surrey - 16/11/2012.

PDF

Media and links

In the Media

Teaching

2024 - 2025

  • Teorie e Politiche Macroeconomiche (Master in Economia Politica - Sapienza University)

    Scarica il programma

    Le lezioni inizieranno lunedì 23 settembre 2024 con il seguente calendario:

    • Martedì ore 8-10 (Edificio: RM019 - Aula di Matematica)
    • Mercoledì ore 16-18 (Edificio: RM019 - Aula di Matematica)

  • Politica Economica (Undergraduate - Sapienza University)

    Il corso è finalizzato a fornire la conoscenza delle teorie, dei modelli e degli strumenti della politica economica e la capacità di applicarla con riferimento alle problematiche nazionali e internazionali, aziendali e istituzionali.

    Programma: Politica economica ed economia politica. Fallimenti del mercato microeconomici e macroeconomici. La teoria normativa della politica economica. I fallimenti dello stato e la teoria positiva della politica economica. L’analisi costi-benefici. Gli strumenti di politica microeconomica. Le politiche antimonopolistiche. Le politiche in presenza di esternalità e di beni pubblici. Le politiche redistributive e lo stato sociale. Gli obiettivi e gli strumenti macroeconomici in un’economia aperta. La politica monetaria. La politica fiscale. La politica dei redditi e dei prezzi. Le politiche per la bilancia dei pagamenti. Politica economica e crescita economica. Le regole automatiche, gli interventi discrezionali e le incoerenze temporali. Politica economica e l’integrazione finanziaria internazionale.

    Acocella N., Politica economica e strategie aziendali, Carocci, Roma.

    L’esame consiste in una prova scritta e in una prova orale obbligatoria per poter ottenere un voto superiore al 25.

    La prova scritta consiste in circa 20 domande a risposta multipla, comprendente anche domande su grafici e alcuni esercizi numerici, a cui si deve rispondere in 30 minuti.

    In linea con quanto stabilito dalla facoltà, non sono previste prove intermedie o preappelli. Gli esami si terranno nelle finestre temporali previste dalla Facoltà.

    Le lezioni inizieranno lunedì 18 settembre 2023 con il seguente calendario:

    • Martedì ore 16-18 (Edificio: RM019 - Aula 5 Federico Caffè)
    • Mercoledì ore 18-20 (Edificio: RM020 - Aula 10)
    • Venerdì ore 14-16 (Edificio: RM019 -Aula 5 Federico Caffè)

  • Office Hours - Orario di ricevimento

    Tuesdays from 14.30 to 15.30 during term.

    Martedì dalle 14.30 alle 15.30 durante il periodo di lezione.

Past Teaching

2023 to date: Sapienza University of Rome - Teorie e Politiche Macroeconomiche - Laurea Magistrale in Economia Politica; Politica Economica - Laurea Triennale in Economia e Finanza.

2023: Economic Policy - MSc in Economics Sapienza University.

2022: London School of Economics - MSc ‘Monetary Economics and Aggregate Fluctuations’.

2009-2023: University of Surrey - Macroeconomics at all levels; International trade, Data analyisis and Contemporary issues in Economics at undergraduate level.

Over the years I have been teaching various courses on Dynamic Stochastic General Equilibrium (DSGE) models construction, simulation and estimations using Dynare at the University of Surrey or in New Delhi, Porto, Glasgow, Birmingham, Cagliari, Abuja, Berlin and Turin.