LUCIO D’AGUANNO
UNIVERSITY OF WARWICK
Contact Information
University of Warwick
Department of Economics
Social Sciences Building
Coventry CV4 7AL
l.d-aguanno@warwick.ac.uk
personal site
Office Line: 0044 2476573461
Mobile: 0044 7501022418
Personal Information
Birthdate: April the 2nd, 1984
Citizenship: Italian
Research Fields
Monetary Economics, International Macroeconomics
Research Papers
“Monetary Policy and Welfare in a Currency Union” (job market paper)
“Monetary Policy and Wealth Effects with External Positions” (working paper)
“Unemployment and Welfare in a Currency Union” (preliminary work in progress)
Education
2010 on
University of Warwick
Doctoral candidate in Economics
Thesis: “Essays in International Monetary
Economics”
November 2010
University of Warwick
Master of Science in Economics (Dist.)
Thesis: “Fiscal Policy and Speculative Bubbles”
December 2007
Università Commerciale Luigi Bocconi
Laurea Specialistica in General Management
Thesis: “Rules of Origin and Corporate Strategy:
the Case of the Textile Industry”
Fall 2006
VSE – University of Economics Prague
Erasmus Programme (Graduate Courses)
October 2005
Università Commerciale Luigi Bocconi
Laurea in Business Administration
Thesis: “Reforming the US Pension System”
Awards and Positions
2012 on
Teaching Fellowship
University of Warwick
2006 - 2007
ISU Fellowship
Università Commerciale Luigi Bocconi
Summaries of Research Papers
“Monetary Policy and Welfare in a Currency Union” (job market paper)
I explore the welfare implications of subjecting two economies to a single monetary authority when
macroeconomic shocks are asymmetric and international risk-sharing is imperfect. I incorporate the
analysis in a DSGE model with incomplete international asset markets, local currency pricing and
monetary barriers to trade. I find that the welfare gain from monetary unification depends crucially
on the strength of the trade frictions and on the international correlation of the shocks. I estimate
the model on data from Italy, France, Germany and Spain using Bayesian methods, and find that
these countries enjoy substantial welfare gains from sharing a common currency.
“Monetary Policy and Wealth Effects with External Positions” (working paper)
I investigate the impact of external positions on the international transmission of macroeconomic
shocks and their effect on the conduct of monetary policy. I develop a two-country DSGE model
where households receive dividends from foreign firms, and I show that in this environment
disturbances spill over across countries through wealth effects. I find numerically that this affects
the stance of monetary policy against inflation and output fluctuations.
“Unemployment and Welfare in a Currency Union” (preliminary work in progress)
I study how asymmetric movements in unemployment across countries amplify the welfare costs of
business cycles in a monetary union with imperfect risk-sharing, and examine how this affects the
domain of applicability of a single currency. I do so in the context of a DSGE model with indivisible
labour and incomplete international asset markets.
Teaching Experience
Fall 2012, 2013, 2014, 2015
Economic Analysis: Macro (Postgraduate Module)
University of Warwick
Spring 2013
Topics in Global Finance (Postgraduate Module)
University of Warwick
Fall 2011, 2012 and Spring 2012, 2013
Economics 1 (Undergraduate Module)
University of Warwick
Research Experience and Other Employment
July 2008 - May 2009
3M Italia SpA
Internship at Automotive and Aerospace
Department
January 2007 - April 2007
International Trade Centre WTO/UNCTAD
Internship at Division of Product and Market
Development, Market Analysis Section
Other Information
Languages:
English (fluent), French (intermediate),
Spanish (elementary), Italian (native)
Informatics:
MATLAB, European Computer Driving Licence
References
Dr Roberto Pancrazi
University of Warwick
0044 2476150587
r.pancrazi@warwick.ac.uk
Prof Marcus Miller
University of Warwick
0044 2476523049
marcus.miller@warwick.ac.uk
Prof Herakles Polemarchakis
University of Warwick
0044 2476150051
h.polemarchakis@warwick.ac.uk