Paolo Surico

Professor of Economics; Academic Director, Leadership Programmes

BA (Bari) Master in Economics (Universitat Ponpeu Fabra) PhD (Bocconi)

Professor Paolo Surico received his PhD in 2004 from Bocconi University and worked as a Research Advisor of the External Members of the Monetary Policy Committee of the Bank of England, before joining the Economics Department at London Business School in 2009.

Giá máy bắn cáHis recent work focuses on assessing the aggregate effects and distributional impact of large public programme interventions such as government spending and tax reforms, giving particular emphasis to the role played by household debt in the transmission mechanism.

He is a Research Affiliate at the Centre for Economic Policy Research (London) and an academic consultant at the Bank of England. Paolo’s main research interests are in macroeconomics, fiscal policy and monetary economics. His work has been recently published in leading international academic journals and he has worked as an external consultant for the European Central Bank.

He was awarded the Best MBA Teacher Prize, as voted for by students, in the biennium 2011-2012. He is the holder of the Leverhulme Prize 2012 for the best economist in the UK under the age of 35 and he is a recipient of the British Academic mid-career fellowship in 2014.

Research Awards

Sep 14-Aug 15: British Academy Mid-career Fellowship.
Dec 14: Observatoire Français des Conjonctures Economiques, Science Po Keynote Speaker,Giá máy bắn cá workshop on “Empirical Monetary Economics”.
Sep 13: Centre for International Macroeconomics and Finance, University of Cambridge Keynote Speaker,Giá máy bắn cá conference on “Modern Macroeconomic Policy making”.
Apr 12: Euro Area Business Cycle Network and Bank of England Keynote SpeakerGiá máy bắn cá, conference on “Money is Back”.
Nov 11: The Leverhulme Trust, Philip Leverhulme Prize 2011, as outstanding young research scholar under the age of 36 based in the U.K. who has made original and significant contributions in the field of Economics.
Jul 11: London Business School Student Association MBA Best Teacher Award 2011, determined by student vote.
Jun 11: Kiel Institute for the World Economy Excellence Award in Global Economic Affairs 2011, Porsche Scholarship, as best economist under the age of 35 in the research area of global economic affairs.
Nov 10-Oct 14: European Research Council Starting Independennt ResearchGiá máy bắn cá (Grant 263429).
Nov 10: London Business School Student Association MBA First Year Teaching Award 2010Giá máy bắn cá as most appreciated professor by first year students for outstanding efforts teaching.
Sep 08: CEPR/ESI, Best Central Bank Research Prize 2008Giá máy bắn cá for the paper ‘Household External Finance and Consumption’, with Tim Besley and Neil Meads.
Sep 06: CEPR/ESI, Best Central Bank Research Nomination 2006 for the paper ‘Evolving International Inflation Dynamics: World and Country-Specific Factors’, with Haroon Mumtaz.
Apr 02: Scottish Economic SocietyGiá máy bắn cá, Glasgow Cairncross Prize, with Efrem Castelnuovo.
Sep 01-Aug 04: Bocconi UniversityGiá máy bắn cá, Milan, Fellow of the PhD in Economics.

Macroeconomics
Monetary policy
Fiscal policy and applied econometrics
Heterogeneous behaviour
Great moderation
International co-movements (nominal and real)
Macrofinance model of the term structure of interest rates
Forecasting
Consumption and access to mortgage finance
Money neutrality
Bank lending channel

2020

2019

Consumer spending and property taxes

Surico P; Trezzi R

Giá máy bắn cáJournal of the European Economic Association 2019 April Vol 17:2 p 606-649

Regional transfer multipliers

Corbi R; Papaioannou E; Surico P

Giá máy bắn cáReview of Economic Studies 2019 Vol 86:5 p 1901-1934

2018

Policy uncertainty and aggregate fluctuations

Mumtaz H; Surico P

Journal of Applied Econometrics 2018 Apr/May Vol 33:3 p 319-331

The consumption response to positive and negative income shocks

Bunn P; Le Roux J; Reinold K; Surico P

Journal of Monetary Economics 2018 June Vol 96 p 1-15

2017

Household debt and the dynamic effects of income tax changes

Cloyne J; Surico P

Review of Economic Studies 2017 Vol 84:1 p 45-81

2016

International fiscal spillovers

Faccini R; Mumtaz H; Surico P

Giá máy bắn cáJournal of International Economics 2016 Vol 99 p 31-45

2015

2014

Consumption, income changes, and heterogeneity: evidence from two fiscal stimulus programs

Misra K; Surico P

Giá máy bắn cáAmerican Economic Journal: Macroeconomics 2014 Vol 6:4 p 84-106

The incidence of transaction taxes: Evidence from a stamp duty holiday

Giá máy bắn cáBesley T; Meads N; Surico P

Giá máy bắn cáJournal of Public Economics 2014 November Vol 119 p 61-70

2013

Bank lending and monetary transmission in the euro area

De Santis R; Surico P

Giá máy bắn cáEconomic Policy 2013 Vol 28:75 p 423-457

2012

2011

International comovements, business cycle and inflation: A historical perspective

Surico P; Mumtaz H; Simonelli S

Review of Economic Dynamics 2011 Vol 14:1 p 176-198

Two illustrations of the quantity theory of money breakdowns and revivals

Surico P; Sargent T

Giá máy bắn cáAmerican Economic Review 2011 Vol 101:1 p 113-132

2010

Monetary policy, inflation expectations and the price puzzle

Giá máy bắn cáSurico P; Castelnuovo E

Economic Journal 2010 Vol 120:549 p 1262-1283

The Lucas critique and the stability of empirical models

Giá máy bắn cáSurico P; Lubik T

Giá máy bắn cáJournal of Applied Econometrics 2010 Vol 25:1 p 177-194

2009

2008

2007

The fed's monetary policy rule and U.S. inflation: the case of asymmetric preferences

Surico P

Journal of Economic Dynamics and Control 2007:31 p 305-324

The monetary policy of the ECB

Surico P

Scandinavian Journal of Management 2007:109 p 115-135

2004

Model uncertainty, optimal monetary poliy and the preferences of the fed

Giá máy bắn cáSurico P; Castelnuovo E

Giá máy bắn cáScottish Journal of Political Economy 2004:51 p 105-126

2003

2020

2019

Employment and the collateral channel of monetary policy

Giá máy bắn cáBahaj S; Foulis A; Pinter G; Surico P

Giá máy bắn cáBank of England staff working paper

2018

Monetary policy, corporate finance and investment

Giá máy bắn cáCloyne J; Ferreira C; Froemel M; Surico P

Giá máy bắn cáNBER Working Paper

Regional transfer multipliers

Giá máy bắn cáCorbi R; Papaioannou E; Surico P

Giá máy bắn cáCEPR Discussion Paper

2017

Policy uncertainty and aggregate fluctuations

Giá máy bắn cáMumtaz H; Surico P

Working Paper

Regional transfers

Corbi R; Papaioannou E; Surico P

NBER Working Paper

2016

Consumer spending and fiscal consolidation: evidence from a housing tax experiment

Giá máy bắn cáSurico P; Trezzi R

Social Sciences Research Network

Monetary policy when households have debt : new evidence on the transmission mechanism

Cloyne J; Ferreira C; Surico P

Giá máy bắn cáBank of England Working Papers

2014

Federal transfer multipliers: quasi-experimental evidence from Brazilian municipalities

Giá máy bắn cáPapaioannou E; Corbi R; Surico P

Giá máy bắn cáWorking Paper

Teaching portfolio

Our teaching offering is updated annually. Faculty and programme material are subject to change.

Masters Degrees electives

Optional courses providing a deep dive into specialist areas.
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Emerging Markets

The aim of the course is to give a balanced evaluation of the opportunities and pitfalls for businesses in the main emerging markets of Russia, Central and Eastern Europe, Latin America, South and East Asia, Middle East, and Africa. A detailed framework will be provided within which to evaluate the risks and gains from doing business in a wide variety of emerging markets, particularly the BRIC (Brazil, Russia, India and China) economies.
PROGRAMMES WITH THIS ELECTIVE

Executive MBA Dubai

Executive MBA London

EMBA-Global Asia

Masters in Analytics and Management

MBA

Masters in Financial Analysis

Masters in Finance Full-time

Masters in Finance Part-time

Masters in Management

LBS Sloan Masters in Leadership and Strategy

The Economics of a Pandemic

The Economics of a Pandemic
PROGRAMMES WITH THIS ELECTIVE

Executive MBA Dubai

Executive MBA London

EMBA-Global Americas & Europe

EMBA-Global Asia

Masters in Analytics and Management

MBA

Masters in Financial Analysis

Masters in Finance Full-time

Masters in Finance Part-time

Masters in Management

World Economy: Problems & Prospects

The aim of this course is to provide you with the knowledge of what the major issues affecting the global economy and financial markets are likely to be in the next five years and beyond. Therefore, as well as providing a deeper insight into policy and market issues, the course aims to give you greater experience in applying analytical tools developed during Understanding the International Macroeconomy (or a similar basic macroeconomics course) as well as extending your existing theoretical toolkit. We analyse developments of countries and regions of the world as examples on the basis of which we build the understanding of broad economic issues.
PROGRAMMES WITH THIS ELECTIVE

Executive MBA Dubai

Executive MBA London

EMBA-Global Americas & Europe

EMBA-Global Asia

Masters in Analytics and Management

MBA

Masters in Finance Full-time

Masters in Finance Part-time

Masters in Management
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PhD courses

The first step to academic excellence.
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Macroeconomics II

Macroeconomics II
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