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Fabrizio Perri's Mug ShotAssociate Professor of Economics at the University of Minnesota
Consultant at the Federal Reserve Bank of Minneapolis

Main Topics: business cycles and economic development; general and international macro economics, international income differences and inequality; stock markets

Professional Profile:

Fabrizio Perri is Associate Professor of Economics at the University of Minnesota and a consultant at the Federal Reserve Bank of Minneapolis. Prior to his current position, he was Berkley Professor of Economics and Business at New York University, Associate Professor at the Department of Economics of the Stern School of Business at New York University, Senior Economist at the Federal Reserve Bank of Minneapolis and Fellow at the International Economics Section at the Department of Economics at Princeton University.

Professor Perri’s research is in macroeconomics and international macroeconomics, inequality and he is interested in understanding risk sharing possibilities among individuals and countries. In a addition to his work, he has been a visiting scholar at the Federal Reserve Banks of New York and Philadelphia and the International Monetary Fund, and has taught at the University of Pennsylvania, the University of Wisconsin, and Northwestern University. He is also an affiliate of the National Bureau of Economic Research and the Centre for Economic Policy Research.
His articles have appeared in such publications as Econometrica, the Review of Economic Studies, and the Journal of Monetary Economics. He is an associate editor at Quantitative Economics, at the Review of Economic Dynamics, at the Journal of the European Economic Association and the Journal of Economic Theory.

He received numerous grants and honours during his career:

  • NSF grant “How do households respond to income shocks: evidence, theory and implications”, 2008-2010
  • Peter Kenen Fellowship, International Economics Section, Princeton University, 2001-2002
  • Carey Prize for Outstanding Dissertation in Economics, University of Pennsylvania, 2000
  • Finalist in the “Sole 24 ore” Competition for Best Italian Young Economist, 1999
  • Alfred P. Sloan Foundation, Dissertation Fellowship, 1996-97
  • Hiram Haney Prize for Best Paper, University of Pennsylvania, 1997
  • Q8 International Economics Prize, University of Rome, 1997
  • University of Pennsylvania Fellowship, 1993-1994

    Professor Perri is an excellent speaker and frequent and renown lecturer on national and international conferences.



  • University of Pennsylvania, Philadelphia, PA
  • Ph.D. in Economics, 1999, Dissertation: “Topics in Risk Sharing and Macroeconomics”
  • MA in Economics, 1995
  • Universitá Bocconi, Milan, Italy, Laurea cum Laude in Economics and Social Sciences (DES), 1992



Selected Works: Published and forthcoming research papaer
  • “Public versus private risk sharing” (with D. Krueger), Journal of Economic Theory, Forthcoming, 2011e
  • “Tax Buyouts” (with M. Del Negro and F. Schivardi), Journal of Monetary Economics, July 2010, 57(5), 576-595
  • Comment on: “From Great Depression to Great Credit Crisis: Similarities,Differences and Lessons”, by M. Almunia, A. Benetrix, B. Eichengreen, K. O’Rourke and G. Rua, Economic Policy, April 2010, 62, 254-258
  • “Cross sectional facts for macroeconomists” (with D. Kreuger, L. Pistaferri and G. Violante), Review of Economic Dynamics, January 2010, 13(1), 1-14
  • “Unequal We Stand: An Empirical Analysis of Economic Inequality in the United States, 1967-2006” (with J. Heathcote and G. Violante), Review of Economic Dynamics, January 2010, 13(1), 15-51
  • Comment on: “Planning to cheat: EU fiscal policy in real time" by R. Beetsma, M. Giuliodori and P. Wierts, Economic Policy, October 2009, 60, 797-801
  • Comment on: “Unsecured Credit markets Are Not Insurance Markets” by K. Athreya, X. S. Tam and E. R. Young, Journal of Monetary Economics, January 2009, 56, 104-108
  • “Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data” (with D. Krueger and H. Lustig), Journal of the European Economic Association (Papers and Proceedings), April-May 2008, 6/2-3, 715-726
  • Comment on: ‘‘Optimal saving distortions with recursive preferences’’ by Emmanuel Fahri and Ivan Werning. Journal of Monetary Economics January 2008, 55, 43-47
  • “Default and Enforcement Constraints” in S. Durlauf and L. Blume (eds) The New Palgrave Dictionary of Economics, 2nd edition, Palgrave Macmillan (Basingstoke and New York), 2008
  • “The Great Moderation and the US External Imbalance” (with A. Fogli), Monetary and Economic Studies, December 2006, 24, 209-225
  • “Does Income Inequality lead to Consumption Inequality? Evidence and Theory” (with D. Krueger), Review of Economic Studies, March 2006, 73, 163-193
  • “Understanding consumption smoothing: Evidence from the U.S. Consumer Expenditure Data” (with D. Krueger), Journal of the European Economic Association (Papers and Proceedings), April-May 2005, 3/2-3, p. 340-349
  • “Business Cycles in Emerging Economies: the Role of Interest Rates’’ (with A. Neumeyer) Journal of Monetary Economics, March 2005, 52/2, 345-380
  • “The Great Depression in Italy: Trade Restrictions and Real Wage Rigidities” (with V. Quadrini), Review of Economic Dynamics, January 2002, 5/1, 128-151
    Reprinted in “Great Depressions of the Twentieth Century”, Tim Kehoe and Ed Prescott (eds), Federal Reserve Bank of Minneapolis, 2007, 167-190
  • “Comment to: Current accounts in the long and short run”, in M. Gertler and K. Rogoff (eds) NBER Macroeconomics Annual 2002, 95-105, MIT Press, Cambridge 2003
  • “L’integrazione europea: un’analisi empirica” (with M. De Cecco), Moneta e Credito, March 1996, 193, 89-121 (In Italian)