Ugo Panizza is an Italian economist. He is a professor of International Economics and Pictet Chair in Finance and Development at the

Graduate Institute of International and Development Studies The Graduate Institute of International and Development Studies, or the Geneva Graduate Institute (french: Institut de hautes études internationales et du développement), abbreviated IHEID, is a government-accredited postgraduate institution ...

Geneva Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the List of cities in Switzerland, second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaki ...

. He is a vice-president of the Centre for Economic Policy Research (CEPR), the director of the International Center for Monetary and Banking Studies, the editor in Chief of Oxford Open Economics and

International Development Policy Development studies is an Interdisciplinarity, interdisciplinary branch of social science. Development studies is offered as a specialized master's degree in a number of reputed universities around the world. It has grown in popularity as a subject ...

, and the deputy director of the

Centre for Finance and Development The Centre for Finance and Development (CFD) is an interdisciplinary research centre at the Graduate Institute of International and Development Studies which is housed at the Maison de la paix in Geneva. The Centre is staffed by several prominent ...

Diplomas

Panizza holds a PhD in economics from the

Johns Hopkins University Johns Hopkins University (Johns Hopkins, Hopkins, or JHU) is a private university, private research university in Baltimore, Maryland. Founded in 1876, Johns Hopkins is the oldest research university in the United States and in the western hem ...

and a Laurea (BA) from the

University of Turin The University of Turin (Italian: ''Università degli Studi di Torino'', UNITO) is a public research university in the city of Turin, in the Piedmont region of Italy. It is one of the oldest universities in Europe and continues to play an impo ...

Contributions

Panizza is known for co-establishing the concept of

original sin Original sin is the Christian doctrine that holds that humans, through the fact of birth, inherit a tainted nature in need of regeneration and a proclivity to sinful conduct. The biblical basis for the belief is generally found in Genesis 3 (t ...

in development economics, alongside economists

Barry Eichengreen Barry Julian Eichengreen (born 1952) is an American economist and economic historian who holds the title of George C. Pardee and Helen N. Pardee Professor of Economics and Political Science at the University of California, Berkeley, where he ha ...

and

Ricardo Hausmann Ricardo Hausmann (born 1956) is the former Director of the Center for International Development currently leading the Center for International Development’s Growth Lab and is a Professor of the Practice of Economic Development at the John F. ...

. His work on the costs of

sovereign default A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it wi ...

(joint with Eduardo Borensztein, Eduardo Levy Yeyati,

Federico Sturzenegger Federico Sturzenegger (born 11 February 1966 in Rufino, Santa Fe) is an Argentine economist who was President of the Central Bank between 2015 and 2018. Sturzenegger has a PhD in Economics from Massachusetts Institute of Technology. He was ...

, and Jeromin Zettelmeyer), on the links between finance and economic development (joint with Jean Louis Arcand and Enrico Berkes), and on the relationship between public debt and economic growth (joint with Andrea Presbitero) has been widely cited in the international press. In 2012 Panizza coauthored (with

Jean-Louis Arcand Jean-Louis Arcand (born 1964) is a Canadian economist. He is a professor of International Economics at the Graduate Institute of International and Development Studies in Geneva, where he also head of the PhD Development Economics programme. Arca ...

and Enrico Berkes) an

IMF The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

working paper titled

Too Much Finance "Too Much Finance?" is a scholarly paper by Jean-Louis Arcand, Enrico Berkes, and Ugo Panizza. The paper was originally described in a 2011 VoxEU column, in 2012 it was issued as IMF working paper, and in 2015 was published by the Journal of Econ ...

showing that the relationship between financial development and economic growth goes from being positive to negative when the financial sector becomes too large. In 2016 he coauthored a paper with

titled "A Surplus of Ambitions". The paper concludes that Europe’s crisis countries are unlikely to be able to run primary budget surpluses as large and persistent as officially projected. He has contributed to the debate on

Quantitative Easing Quantitative easing (QE) is a monetary policy action whereby a central bank purchases predetermined amounts of government bonds or other financial assets in order to stimulate economic activity. Quantitative easing is a novel form of monetary pol ...

in Europe and on the monetary and fiscal stimulus in the Eurozone. In 2017 he coauthored with

David Miles David Kenneth Miles (born 1959) is a British economist. Born in Swansea, he has spent his working life in London, in teaching, business and the public sector. He is a professor at Imperial College London, and was Chief UK Economist of Morgan ...

Ricardo Reis Ricardo A. M. R. Reis (born 1 September 1978) is a Portuguese economist and the A. W. Phillips professor of economics at the London School of Economics. In a 2013 ranking of young economists by Glenn Ellison, Reis was considered the top economi ...

, and Angel Ubide the 19th Geneva Report on the World Economy titled ''And Yet It Moves''. The report asks why inflation has remained so stable in the aftermath of the

Great Recession The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At ...

. In 2017 he co-authored (with Jeromin Zettelmeyer and Eike Kreplin) a

Peterson Institute The Peterson Institute for International Economics (PIIE), known until 2006 as the Institute for International Economics (IIE), is an American think tank based in Washington, D.C. It was founded by C. Fred Bergsten in 1981 and has been led by A ...

working paper aimed at assessing debt sustainability in Greece and wrote a

Project Syndicate Project Syndicate is an international media organization that publishes and syndicates commentary and analysis on a variety of global topics. All opinion pieces are published on the ''Project Syndicate'' website, but are also distributed to a wi ...

piece with

discussing the possibility of creating an odiousness rating system.

Career

He has taught at the

and at the

American University of Beirut The American University of Beirut (AUB) ( ar, الجامعة الأميركية في بيروت) is a private, non-sectarian, and independent university chartered in New York with its campus in Beirut, Lebanon. AUB is governed by a private, aut ...

. He also worked at the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

, the

Inter-American Development Bank The Inter-American Development Bank (IDB or IADB) is an international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribb ...

, and at the

United Nations Conference on Trade and Development The United Nations Conference on Trade and Development (UNCTAD) is an intergovernmental organization within the United Nations Secretariat that promotes the interests of developing countries in world trade. It was established in 1964 by the ...

(UNCTAD) where he was the head of the Debt and Finance Analysis Unit. Currently Panizza is professor of International Economics and Pictet Chair in Finance and Development at the

in Geneva, where he is also the deputy director of the

. Panizza is a CEPR Research Fellow, and a former editor of Economia (the Journal of Latin American and Caribbean Economic Association, LACEA). He is a member of the editorial board of several other academic journals.

References

{{DEFAULTSORT:Panizza, Ugo Living people Italian economists Academic staff of the Graduate Institute of International and Development Studies Johns Hopkins University alumni Year of birth missing (living people)