Carlo Favero
Carlo Favero holds a D.Phil. from Oxford University, where he was a member of the Oxford Econometrics Research Centre. He has been professor of Econometrics at Bocconi University from 1994 to 2001 and professor of Economics since 2002. In 2009 he joined the newly formed Dept of Finance at Bocconi University, where he teaches Financial Econometrics. He has published in scholarly journals on the econometric modelling of bond and stock prices, applied econometrics, monetary policy and time-series models for macroeconomics and finance. He is a research fellow of CEPR in the International Macroeconomics programme. He is president of the Innocenzo Gasparini Institute for the Economic Research at Bocconi University and a member of the scientific committee of the Centro Interuniversitario Italiano di Econometria (CIDE). He has been advisor to the Italian Ministry of Treasury for the construction of an econometric model of the Italian economy. He has been consulting the European Commission, the World Bank and the European Central Bank, on monetary policy and the monetary transmission mechanism and bond markets. He is member of the editorial board of the Bocconi Springer Series in Mathematics, Statistics, Finance and Economics.
Research
How to Restart the Economy and Save Lives: Simulations on Northern Italy
Italian officials have to choose the optimal strategy to end the lockdown. A policy that sends all the active population back to...
Covid-19
The Case for Lockdown: in Italy’s Lombardy, It Can Reduce Covid-19 Potential Fatalities from 160,000 to 25,000
According to an analysis by Bocconi University professor Carlo Favero, the number of people infected with the coronavirus in Lombardy, Northern Italy, is 120,000, while...
Latest news
Antitrust and Competition
A World With Far Fewer Mergers
Brooke Fox and Walter Frick analyze research and ideas presented at the Stigler Center Antitrust and Competition Conference that question the value of mergers.
Commentary
The Banking Risks of Central Bank Digital Currencies
The implementation of central bank digital currencies as the primary medium of exchange would exacerbate the flaws of our current fiat system which encourage banks to overextend credit and create liabilities that they cannot redeem. This will worsen the already recurring cycles of financial crises, writes Vibhu Vikramaditya.
Antitrust and Competition
The Whig History of the Merger Guidelines
A pervasive "Whig" view of United States antitrust history among scholars and practitioners celebrates the Merger Guidelines' implementation of increasingly sophisticated economic methods since their...
Antitrust and Competition
Algorithmic Collusion in the Housing Market
While the development of artificial intelligence has led to efficient business strategies, such as dynamic pricing, this new technology is vulnerable to collusion and consumer harm when companies share the same software through a central platform. Gabriele Bortolotti highlights the importance of antitrust enforcement in this domain for the second article in our series, using as a case study the RealPage class action lawsuit in the Seattle housing market.
Antitrust and Competition
The Future Markets Model Explains Meta/Within: A Reply to Herb Hovenkamp
In response to both Herb Hovenkamp’s February 27 article in ProMarket and, perhaps more importantly, also to Hovenkamp’s highly regarded treatise, Lawrence B. Landman, first, shows that the Future Markets Model explains the court’s decision in Meta/Within. Since Meta was not even trying to make a future product, the court correctly found that Meta would not enter the Future Market. Second, the Future Markets Model is the analytical tool which Hovenkamp says the enforcers lack when they try to protect competition to innovate.
Book Excerpts
The Chicago Boys and the Chilean Neoliberal Project
In a new book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism, Sebastian Edwards details the history of neoliberalism in Chile over the past seventy years. The Chicago Boys—a group of Chilean economists trained at the University of Chicago through the U.S. State Department’s “Chile Project”—played a central role in neoliberalism’s ascent during General Augusto Pinochet’s rule. What follows is an excerpt from the book on University of Chicago economist Milton Friedman’s 1975 visit to Chile to meet with Pinochet and business leaders.
Antitrust and Competition
Creating a Modern Antitrust Welfare Standard that Integrates Post-Chicago and Neo-Brandeisian Goals
Darren Bush, Mark Glick, and Gabriel A. Lozada argue that the Consumer Welfare Standard is inconsistent with modern welfare economics and that a modern approach to antitrust could integrate traditional Congressional goals as advocated by the Neo-Brandesians. Such an approach could be the basis for an alliance between the post-Chicago economists and the Neo-Brandesians.
