Claudio Michelacci



Bajola Parisani Professor, Einaudi Institute for Economics and Finance
Research Fellow, Center for Economic Policy Research


London School of Economics, Ph.D., 1998
London School of Economics, MSc., 1994


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Research Interests

Growth, search, labour, business cycle

Selected Publications

Ambiguous Policy Announcements“ (with L.Paciello), Review of Economic Studies, forthcoming.

Labor Supply with Job Assignment under Balanced Growth”, (with J. Pijoan), Journal of Economic Theory, 2016, Volume 163, pages 110-140.

Optimal Life Cycle Unemployment Insurance,” (with H. Ruffo), American Economic Review, 2015, Volume 105, Issue 2, pages 2930-81.

Does Idiosyncratic Business Risk Matter for Growth?,” (with F. Schivardi), Journal of the European Economic Association, 2013, Volume 11, Issue 2, pages 343-368.

“Intertemporal Labor Supply with Search Frictions,” (with J. Pijoan), Review of Economic Studies, 2012, Volume 79, Issue 3, pages 899-931.

“Financial Markets and Wages,” (with V. Quadrini), Review of Economic Studies, 2009, Volume 76, Issue 2, pages 795-827.

“Technology Shocks and Job Flows,” (with D. Lopez Salido), 2007, Review of Economic Studies, Volume 74, Issue 4, pages 1195-1227.

“Why So Many Local Entrepreneurs?,” (with O. Silva), Review of Economics and Statistics, 2007, Volume 89, Issue 4, pages 615-633.

“Incomplete Wage Posting,” (with J. Suarez), Journal of Political Economy, 2006, Volume 114, Issue 6, pages 1098-1123.

“Business Creation and the Stock Market,” (with J. Suarez), Review of Economic Studies, 2004, Volume 71, Issue 2, pages 459-481.

Working Papers

From Weber to Kafka: Political Instability and the Rise of an Inefficient Bureaucracy, (with G. Gratton, L. Guiso and M. Morelli), EIEF WP 17/08, June 2017.

Are They All Like Bill, Mark, and Steve? The Educational Premium for Entrepreneurs” (with F. Schivardi), EIEF WP 16/12, August 2016.

“The Optimal Price of Collateral” (with A. Pozzi), 2015.

“Make it in America? Business subsidies and Employment in the Great Recession”, (with V. Quadrini and A. Galesi), 2014.

“Job Destruction without Job Creation: Structural transformation in the Over-borrowed America”, (with A. Galesi), 2014

Honors, Awards and Fellowships

Editor, Journal of the European Economic Association, January 2014-

ERC Advanced Grant 2012-2017

Editor, Spanish Economic Review, January 2004-December 2007


Phone: +39.06.4792.4959
Fax: +39.06.4792.4872
E-mail: c.michelacci1968[at]

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