Nuno Cassola is a member of the Scientific Council of the Centre for European Studies (CefES) at the Department of Economics, Management and Statistics (DEMS) of the University of Milan-Bicocca, Italy. He is also an Associate Researcher at the Centre for Research in Mathematics Applied to Forecasting and Decision Making in Economics (CEMAPRE) at the University of Lisbon, and an invited Professor of Economics of European Integration at the University of Milan-Bicocca (academic year 2019-20; first semester).
He was born in Lisbon, Portugal, graduated in Economics from the University of Lisbon, and received his MSc. in Economics from the University of Lisbon, and received a PhD in Economics from the University of Kent (UK).
He worked for 20 years (1999-2019) at the European Central Bank in Frankfurt am Main (Germany) performing managerial and advisory functions in Monetary Policy Strategy, Monetary Policy Stance, Market Operations, Financial Research, Crisis Management, and Banking Supervision (SSM).
Between 1994 and 1999 he worked at the Banco de Portugal in the Economics and Research Directorate with responsibilities in Monetary Policy, Financial Markets and Banking.
Between 1983 and 1994 he was Lecturer and Assistant Professor of Economics at the University of Lisbon - Engineering School (IST) and Economics and Management School (ISEG).
Between 1977 and 1983 he was Technical Assistant at the Foreign Investment Institute (FII) in Lisbon, Portugal.
His research interests include central banking topics, financial economics and econometrics with particular reference to the macro-finance interface and the interconnection of economic and financial cycles and financial stability. He is now moving into a new research field which aims at connecting climate change disruptions and threats to financial stability.
He has published several articles in academic journals, including Applied Economics, Applied Financial Economics, Econometrica, European Journal of Finance, Journal of Banking and Finance, Journal of Empirical Finance, Journal of Financial Stability, Journal of International Money and Finance, International Journal of Central Banking, International Journal of Industrial Organisation, Journal of Policy Modelling.
Recent publications:
1. “The collateral channel of open market operations”, Journal of Financial Stability, 41, 2019, pp. 73-90 (with F. Koulischer)
2. “The ECB’s OMTs: A tale of governments, investors and the central bank”, Journal of International Money and Finance, vol. 65, July 2016, pp. 94-116 (with J. Jorge)
SSRN author page: Nuno Cassola
Most downloaded paper: “Monetary Policy and the Stock Market in the Euro Area”, Journal of Policy Modelling, 26, 2004, 387-399, (with C. Morana)
Most seen paper: “Manipulation in Money Markets”, International Journal of Central Banking, 3 (1), 2007, 113-148 (with C. Ewerhart, S. Ejerskov and N. Valla)
