Full Professor of Economics. Research Associate of the National Bureau of Economic Research (NBER) and research fellow of the Centre for Economic Policy Research (CEPR). He was Vice-Rector of Research-Assessment-Human Resources Development (2000-2002) and previously he has taught econometrics, mathematical economics and political economics at the Universities of Essex (GB), Padova, Venezia and Bologna. Co-editor of the European Economic Review from 1991 to 1999. Visiting professor, MIT, 1999 to 2012. Adviser for the Italian Government for its Spending Review (2012). Adviser to the Federal Reserve Bank of New York (2013). International monetary economics, in particular issues related to European monetary integration. Public debt sustainability and fiscal stabilization. Monetary policy and financial institutions.