Professor Formi is Professore Ordinario, Econometrics, in the Department of Economics "Marco Biagi" at the University of Modena and Reggio Emilia. His PhD in Economics was from the University of Bologna (1983 -1987). He has been a consultant to the European Commission in 1997 and 1998, to Banca d'Italia in 2000 and 2002, and to Banque de France in 2001. His main theoretical research interests include: Time Series Analysis, Dynamic Factor Models, Monetary and Fiscal Policy, Business Cycle Analysis