People

Lorenzo Esposito

Lorenzo Esposito is a Research Scholar at the Institute for Sustainable Prosperity and an economist at the Bank of Italy (Milan). Lorenzo graduated from Bocconi University (Milan) in Political Economy with a dissertation on classical political economy in 1995. In 1998 he started to work for the Bank of Italy in the area of financial and banking supervision. While working for the Bank of Italy he received a Doctorate in Institutional Economics at La Sapienza University (Rome) with a dissertation on monetary policy and distributional conflict in 2002. After working in London for the Bank of Italy, he moved to the Milan branch of the Bank of Italy and later headed the unit that supervises foreign banks. Lorenzo published many articles on international banking and banking supervision. He also participated in several international technical cooperation missions to help other countries improve their banking supervision framework. Since 2013, he collaborates with the Cattolica University (Milan) doing research and didactic activity concerning the theory of banking regulation. At the present he teaches the courses on Economic Policy and Monetary Economics. He has co-authored papers on various topics including labor markets and financial stability.

Research Scholar and Economist at the Bank of Italy

Publications

Rethinking Economic Policy in the Age of Financialization: Why the Barro-Ricardo Theory Cannot Make Sense

“The 2008 crisis brought forth a rethinking of the role of economic policies. We would like to analyze a specific point of this debate: the effect of financialization on fiscal policy. In doing so, we find it useful to analyze the debate on the Barro-Ricardo equivalence (BRE)..."

An Employer of Last Resort Program for Italy: It’s cheaper than you think

“Public money used to contain the crisis in 2009 amounted to about $23 trillion already. To save US and EU banks alone, their governments used $14 trillion, which could have funded 20 years worth of ELR programs in these economies."
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