Professor of Economics , LUISS University
Research Fellow, Einaudi Institute for Economics and Finance (EIEF)
Aree di ricerca: Macroeconomics, Monetary Economics
Search keywords: Monetary Economics, Sticky Price Models, Money Demand, Welfare Cost of Inflation, Price Setting Behavior
Departments: Dipartimento di Economia e Finanza
Francesco Lippi is full professor at Luiss University and a senior fellow at the Einaudi Institute of Economics and Finance in Rome (EIEF). His research mainly concerns monetary economics, a field where he has published about the propagation of monetary shocks, models of money demand and the cash-credit choice, and monetary institutions (monetary unions and their interactions with wage setting institutions). He received his PhD from the Tinbergen Institute of Rotterdam in 1997. Between 1998 and 2006 he was a member, and later the head, of the Monetary Analysis Unit at the Research Department of the Bank of Italy. He has been published in top peer-reviewed international journals in economics, such as the American Economic Review, Econometrica, the Quarterly Journal of Economics, the Review of Economic Studies, and has been awarded several prestigious international grants such as the prize of the Foundation Banque de France (twice) and a 5-year Advanced Grant by the European Research Council in 2013. He is currently an Editor of the Economic Journal of the Royal economic society.
Main publications (last 10 years)
- Alvarez, Fernando; Lippi, Francesco; Robatto, Roberto (2019). Cost of inflation in inventory theoretical models. REVIEW OF ECONOMIC DYNAMICS, p. 206-226. ISSN 1094-2025. https://doi.org/10.1016/j.red.2018.11.001.
- Alvarez, Fernando; Lippi, Francesco; Paciello, Luigi (2018). Monetary shocks in models with observation and menu costs. JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION, p. 353-382. ISSN 1542-4766. https://doi.org/10.1093/jeea/jvx013.
- Alvarez, Fernando; Lippi, Francesco (2017). Cash burns: An inventory model with a cash-credit choice. JOURNAL OF MONETARY ECONOMICS, p. 99-112. ISSN 0304-3932. https://doi.org/10.1016/j.jmoneco.2017.07.001.
- Alvarez, F; Lippi, F; Paciello, L (2016). Monetary shocks in models with inattentive producers. REVIEW OF ECONOMIC STUDIES, p. 421-459. ISSN 0034-6527. https://doi.org/10.1093/restud/rdv050.
- Alvarez, Fernando; Le Bihan, Hervé; Lippi, Francesco (2016). The real effects of monetary shocks in sticky price models: A sufficient statistic approach. THE AMERICAN ECONOMIC REVIEW, p. 2817-2851. ISSN 0002-8282. https://doi.org/10.1257/aer.20140500.
- Alvarez, Fernando; Lippi, Francesco; Passadore, Juan (2016). Are state- and time- dependent models really different?. NBER MACROECONOMICS ANNUAL, p. 379-457. ISSN 0889-3365. https://doi.org/10.1086/690243.
- Lippi, F; N, Trachter; S, Ragni (2015). Optimal monetary policy with heterogeneous money holdings. JOURNAL OF ECONOMIC THEORY, p. 339-368. ISSN 0022-0531. https://doi.org/10.1016/j.jet.2015.07.005.
- Lippi, Francesco; Schivardi, Fabiano (2014). Corporate Control and Executive Selection. QUANTITATIVE ECONOMICS, p. 417-456. ISSN 1759-7323. https://doi.org/10.3982/QE244.
- Lippi, F; Alvarez, F (2014). Persistent Liquidity Effect and Long Run Money Demand. AMERICAN ECONOMIC JOURNAL. MACROECONOMICS, p. 71-107. ISSN 1945-7707. https://doi.org/10.1257/mac.6.2.71.
- Alvarez, F; Lippi, F (2014). Price setting with menu cost for multi-product firms. ECONOMETRICA, p. 89-135. ISSN 0012-9682. https://doi.org/10.3982/ECTA10662.
- Lippi, F; Alvarez, F (2013). The demand of liquid assets with uncertain lumpy expenditures. JOURNAL OF MONETARY ECONOMICS, p. 753-770. ISSN 0304-3932. https://doi.org/10.1016/j.jmoneco.2013.05.008.
- Lippi, F; Nobili, A (2012). Oil and the macroeconomy: a quantitative structural analysis. JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION, p. 1059-1083. ISSN 1542-4766. https://doi.org/10.1111/j.1542-4774.2012.01079.x.
- Lippi, F; Alvarez, F; L., GUISO L (2012). Durable consumption and asset management with transaction and observation costs. THE AMERICAN ECONOMIC REVIEW, p. 2272-2300. ISSN 0002-8282. https://doi.org/10.1257/aer.102.5.2272.
- Lippi, F; ALVAREZ F., E; Paciello, L (2011). Optimal price setting with observation and menu costs. QUARTERLY JOURNAL OF ECONOMICS, p. 1909-1960. ISSN 0033-5533. https://doi.org/10.1093/qje/qjr043.
- Lippi, Francesco; Alvarez, F. E. (2009). Financial innovation and the transactions demand for cash. ECONOMETRICA, p. 363-402. ISSN 0012-9682. https://doi.org/10.3982/ECTA7451.
- Lippi, F; Alessandro, Secchi (2009). Technological change and the households’ demand for currency. JOURNAL OF MONETARY ECONOMICS, p. 222-230. ISSN 0304-3932. https://doi.org/10.1016/j.jmoneco.2008.11.001.