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CODOGNO, LORENZO Print E-mail

 
Lorenzo Codogno's Mug ShotVisiting Professor, London School of Economics and founder and chief economist of LC Macro Advisor Ltd, London, UK.
Former chief economist of the Italian Treasury, Ministry of Economy and Finance.


Main Topics:

  • Trends in the world economy and in financial markets
  • Eurozone and Italy’s macroeconomic developments
  • Eurozone monetary and fiscal policy
  •  the future of Europe, economic growth and structural reforms
  • EU economic governance. 

 

 

Professional Profile:

Lorenzo Codogno is visiting professor at the London School of Economics and Political Science, European Institute, and founder and chief economist of his own consulting vehicle, LC Macro Advisors Ltd. He is also Senior Fellow of the LUISS School of European Political Economy – SEP.

He was chief economist of the Italian Treasury, Ministry of Economy and Finance, from Apr 2006 to Feb 2015, in charge of the economic analysis and planning directorate. He held responsibility for macroeconomic forecasts, analysis on the Italian/international economy and domestic/international monetary and financial issues. He coordinated the technical preparation of Italy’s official economic and financial planning documents. Throughout this period, he was head of the Italian delegation at the Economic Policy Committee of the European Union, which he chaired from Jan 2010 to Dec 2011, thus attending Ecofin/Eurogroup meetings with Ministers.

At the OECD, he headed the Italian delegation at the Economic Policy Committee, the Economic and Development Review Committee and the Working Party 1, which he chaired from Jan 2013 to Feb 2015.

Codogno had worked for Bank of America over the previous 11 years. He was managing director, senior economist and co-head of European Economics based in London. Before that, he worked in the research department of Credito Italiano (Unicredit).

He was member of the Board of Directors of ENEL, EU’s second largest power company between June 2006 and May 2014 and member of the Board of Directors of MTS (now part of the London Stock Exchange) in 1999/2003.

Author of several articles on newspapers and academic journals, speaker at conferences, established commentator on economic and market issues. He writes regular op-ed on Il Sole 24 Ore.

 

 

 

Education:
  • Master Degree in Finance, Syracuse University, New York

 

 

Selected Publications
recent policy briefs:
 
  • “Italy is stretching budget flexibility to the limit, raising a number of issues over EU fiscal rules”, LSE EUROPP, 8 October, 2015 and “Italy’s Budget Outlook - Stretching Flexibility to the Limit”, LUISS School of European Political Economy, Policy Brief 10/2015, October 1, 2015.
  • “Can Italy’s immigration crisis trigger socio-political disruptions?”, LUISS School of European Political Economy, Policy Brief 9/2015, September 2, 2015.
  • “Grexit remains unlikely, but time is against the Greek government”, LSE EUROPP, July 7, 2015.
  • “Greece: Scenarios after the vote” article published as Policy Brief by the LUISS School of European Political Economy, July 7, 2015.
  • “Does Europe Need a Debt Relief ? A widespread debt relief program is not necessary and not desirable”, The International Economy, Spring 2015. 
  • “Are Renzi’s Reforms Running Out of Steam?” article published as Policy Brief by the LUISS School of European Political Economy, April 27, 2015 and republished in Current Economics under the same title, April 2015. A shorter version of the article was published in the March 2015 OMFIF Bulletin.
  • “Both Greece and its creditors must compromise or a Grexit is now a real possibility” LSE EUROPP, with Paul De Grauwe, March 26, 2015.
  • “Why Denmark should either abandon its peg to the euro or join the single currency” LSE EUROPP, with Paul De Grauwe, March 12, 2015.
selected articles: 
  • “Revitalising Europe’s Economy: Towards Growth” Chapter 9 of the book “Achieving Dynamism in an Anaemic Europe” edited by Luigi Paganetto, April 2015, Springer International.
  • “Measuring Italy’s External Competitiveness”, with Luigi Paganetto (editors), Rubbettino, 2011.
  • “The Use of Targets in the Lisbon Strategy”, with Guillaume Odinet and Flavio Padrini, Rivista di Politica Economica, pp. 3-21, Issue I-III, January-March 2009.
  • “Two Italian Puzzles: Are Productivity Growth and Competitiveness Really so Depressed?”, in Marco Buti (editor) “Italy in EMU: The Challenges of Adjustment and Growth”, Chapter 3, Palgrave Macmillan, 2009.
  • “Assessing Italy’s Reform Challenges: What Do Growth Accounting and Structural Indicators Say?” with Francesco Felici, Rivista di Politica Economica, pp. 43-118, Issue IX-X, September-October 2008. 
  • “Are Italy’s Public Finances Sustainable? The Role of Demography, Productivity and Labour Markets” with Paolo Biraschi, Federico Giammusso, Manuela Nenna and Juan Pradelli, in the Bank of Italy’s book on “Fiscal Sustainability: Analytical Developments and Emerging Policy Issues”, Rome, 2008.
  • “Budget Safety Margins: Some Considerations” with Francesco Nucci, in the Bank of Italy’s book on “Fiscal Policy: Current Issues and Challenges” Rome, 2007.
  • “Yield Spreads on EMU Government Bonds” with Carlo Favero and Alessandro Missale, Economic Policy, issue 37, October 2003, pp. 505-532; also published in the book EMU: Assessing the Impact of the Euro edited by Richard Baldwin, Giuseppe Bertola and Paul Seabright.
  • “The Decomposition of Observed Spreads in the Euro-Area Government Bond Markets” with Carlo Favero and Alessandro Missale, report for the EU Commission, Directorate-General for Economic and Financial Affairs, January 2002.
  • “Assessing Bond Market Developments Post-EMU”, Journal of Applied Corporate Finance, Volume 11 no. 3, Fall 1998, pp. 66-81.