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Luca Fornaro earned his Ph.D. from the London School of Economics. He is a Senior Researcher at the Center for Research in International Economics (CREi), Adjunct Professor at Universitat Pompeu Fabra (UPF), and Research Professor at the Barcelona School of Economics. He is also a Research Affiliate at the Centre for Economic Policy Research (CEPR) in London, and has been a Visiting Scholar at the Bank of England, the Federal Reserve Bank of Minneapolis and the Federal Reserve Bank of New York. His research interests include international macroeconomics, monetary economics and economic growth.

Selected Publications

• “Monetary Policy for a Bubbly World”, (with Asriyan, A. Martin and J. Ventura), The Review of Economic Studies, forthcoming.
• “The Paradox of Global Thrift”, (with F. Romei), American Economic Review, 109 (11), 2019, 3745-3779.
• “Stagnation Traps”, (with G. Benigno), The Review of Economic Studies, 85 (3), 2018, 1425-1470.
• “International Debt Deleveraging”, Journal of the European Economic Association, 16 (5), 2018, 1394-1432.
• “Financial Crises and Exchange Rate Policy”, Journal of International Economics, 95 (2), 2015, 202-215.

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“How Fiscal Choices and Trade Strategy Shape Europe’s Productivity”, by L. Fornaro and M. Á. González-Simón, FUNCAS Europe Podcast, # 87, 28/11/2025.

“Hysteresis, Endogenous Growth, and Aggregate Demand Policies”, by L. Fornaro, Macro Musings with David Beckworth Podcast, 19/05/25.

“Managing Capital Flows in the 21st Century” , by L. Fornaro, International Finance, 22 (2), 2019, 439-446.