Luca Fornaro

CREI, UPF and BSE

PhD, London School of Economics

Research interests

  • International Macroeconomics
  • Monetary Economics
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Contact

Teaching at the Barcelona School of Economics

Luca Fornaro is a Senior Researcher at CREI, a Ramón y Cajal Fellow at UPF, and an Affiliated Professor of the Barcelona School of Economics (BSE).

He is also a Research Affiliate of the Centre for Economic Policy Research (CEPR) in London. He has been a Visiting Scholar at the Bank of England, the Federal Reserve Bank of Minneapolis and the Federal Reserve Bank of New York.

Awards, Grants, and Honors

  • ERC Consolidator Grant, “Macroeconomic Policies for Productivity Growth” (2024)
  • ECB Wim Duisenberg Research Fellowship (2022)
  • ERC Starting Grant, “Economic Fluctuations, Productivity Growth and Stabilization Policies: A Keynesian Growth Perspective” (2019)
  • BSE-“la Caixa” Foundation Research Grants on Socioeconomic Well-being (2017)
  • BSE Seed Grant, “Aggregate Demand Externalities in a Global Liquidity Trap” (2016)
  • BSE Seed Grant, “Financial Intermediation and Inequality over the Business Cycle” (2014)

Working Papers

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Working Paper
Background

Fiscal Stagnation

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BSE Working Paper 1488
April 2025
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Martin Wolf and Luca Fornaro
Working Paper
Background

Fiscal Stimulus with Supply Constraints

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BSE Working Paper 1458
September 2024
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Luca Fornaro
Working Paper
Background

Fragmented Monetary Unions

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BSE Working Paper 1437
April 2024
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Christoph Grosse-Steffen and
Luca Fornaro
Working Paper
Background

Monetary Cooperation during Global Inflation Surges

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BSE Working Paper 1313
January 2022
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Federica Romei and Luca Fornaro
Working Paper
Background

Monetary Policy in the Age of Automation

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BSE Working Paper 1290
September 2021
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Martin Wolf and Luca Fornaro
Working Paper
Background

Reserve Accumulation, Growth and Financial Crises

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BSE Working Paper 1279
July 2021
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Michael Wolf,
Gianluca Benigno and Luca Fornaro
Working Paper
Background

The scars of supply shocks: Implications for monetary policy

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BSE Working Paper 1214
November 2020
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Martin Wolf and Luca Fornaro
Working Paper
Background

Covid-19 Coronavirus and Macroeconomic Policy

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BSE Working Paper 1168
April 2020
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Martin Wolf and Luca Fornaro
Working Paper
Background

The Global Financial Resource Curse

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BSE Working Paper 1165
April 2020
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Martin Wolf,
Gianluca Benigno and Luca Fornaro
Working Paper
Background

A Theory of Monetary Union and Financial Integration

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BSE Working Paper 1138
December 2019
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Luca Fornaro
Working Paper
Background

The Paradox of Global Thrift (Plus Appendix)

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BSE Working Paper 1039
May 2018
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Federica Romei and Luca Fornaro
Working Paper
Background

International Debt Deleveraging

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BSE Working Paper 931
October 2016
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Luca Fornaro
Working Paper
Background

Monetary Policy for a Bubbly World

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BSE Working Paper 921
September 2016
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Jaume Ventura,
Alberto Martin, Luca Fornaro and Vladimir Asriyan
Working Paper
Background

Stagnation Traps

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BSE Working Paper 832
September 2015
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Gianluca Benigno and
Luca Fornaro

Publications

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Publication
Recognition Program

Open Access
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Martin Wolf, Luca Fornaro,
Publication
Recognition Program

teacher
Martin Wolf, Gianluca Benigno, Luca Fornaro,
Publication
Recognition Program

Open Access
teacher
Luca Fornaro,
Publication
Recognition Program

teacher
Luca Fornaro,
Publication
Recognition Program

Open Access
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Jaume Ventura, Alberto Martin, Luca Fornaro, Vladimir Asriyan,
Publication
Recognition Program

teacher
Federica Romei, Luca Fornaro,
Publication
Recognition Program

teacher
Gianluca Benigno, Luca Fornaro,
Publication
Recognition Program

teacher
Luca Fornaro,
Publication
Recognition Program

teacher
Gianluca Benigno, Luca Fornaro,
Publication
Recognition Program

teacher
Gianluca Benigno, Luca Fornaro,
Publication
Recognition Program

teacher
Luca Fornaro,
Publication
Recognition Program

Open Access
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1165
BSE Working Paper: 1165 |
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Martin Wolf, Gianluca Benigno, Luca Fornaro,

BSE Focus

Visit BSE Focus to read non-technical summaries of papers and projects by Luca Fornaro and other BSE researchers.

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BSE Focus
Feb 2025
Fragmented Monetary Unions
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The Global Financial Resource Curse

BSE Focus
Feb 2021
Read more
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Video: Economic Fluctuations, Productivity Growth and Stabilization Policies: A Keynesian Growth Perspective (ERC Starting Grant)

BSE Focus
Jan 2020
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Related News

News
February 25
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Luca Fornaro awarded ERC Consolidator Grant
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News
September 19
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ERC Starting Grant awarded to Luca Fornaro
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