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Giovanni Favara


  • Ph.D., Economics, Stockholm University
  • M.Sc., Econometrics, London School of Economics
  • Economist

    Board of Governors of the Federal Reserve System

    2012 - present
  • Economist

    International Monetary Fund

    2009 - 2012
  • Assistant Professor

    HEC University of Lausanne

    2006 - 2009
  • Financial Stability Considerations for Monetary Policy: Empirical Evidence and Challenges
    Nina Boyarchenko, Giovanni Favara, and Moritz Schularick
    Finance and Economics Discussion Series (2022)
  • GSIB Surcharges and Bank Lending: Evidence from US Corporate Loan Data
    Giovanni Favara, Ivan Ivanov, and Marcelo Rezende
    Journal of Financial Economics (2021)
  • Uncertainty, Access to Debt, and Firm Precautionary Behavior
    Giovanni Favara, Janet Gao, and Mariassunta Giannetti
    Journal of Financial Economics (2021)
  • U.S. Zombie Firms: How Many and How Consequential?
    Giovanni Favara, Camelia Minoiu, and Ander Perez-Orive
    FEDS Notes (2021)
  • Monetary Policy Uncertainty and Monetary Policy Surprises
    Michiel De Pooter, Giovanni Favara, Michele Modugno, and Jason Wu
    Journal of International Money and Finance (2021)
    See also » FRB Working Paper (2020)
  • Forced Asset Sales and the Concentration of Outstanding Debt: Evidence from the Mortgage Market
    Giovanni Favara and Mariassunta Giannetti
    Journal of Finance (2017)
  • Debt Enforcement, Investment, and Risk Taking Across Countries
    Giovanni Favara, Erwan Morellec, Enrique Schroth, and Philip Valta
    Journal of Financial Economics (2017)
  • Recession Risk and the Excess Bond Premium
    Giovanni Favara, Simon Gilchrist, Kurt F. Lewis, and Egon Zakrajšek
    FEDS Notes (2016)
  • Credit Supply and the Price of Housing
    Giovanni Favara and Jean Imbs
    American Economic Review (2015)
  • House Price Dynamics with Dispersed Information
    Giovanni Favara and Zheng Song
    Journal of Economic Theory (2014)
  • Externalities and Macroprudential Policy
    Gianni De Nicolò, Giovanni Favara, and Lev Ratnovski
    Journal of Financial Perspectives (2014)
  • Strategic Default and Equity Risk across Countries
    Giovanni Favara, Enrique Schroth, and Philip Valta
    Journal of Finance (2012)
  • Agency Problems and Endogenous Investment Fluctuations
    Giovanni Favara
    Review of Financial Studies (2012)
  • Reconsidering the Role of Money for Output, Prices and Interest Rates
    Giovanni Favara and Paolo Giordani
    Journal of Monetary Economics (2009)
  • An Empirical Reassessment of the Relationship Between Finance and Growth
    Giovanni Favara
    IMF Working Papers (2003)
  • American Economic Review
  • American Economic Journal: Macroeconomics
  • Canadian Journal of Economics
  • Economica
  • Economic Letters
  • European Economic Review
  • Journal of Economic Theory
  • Journal of Economics Dynamics and Control
  • Journal of European Economic Association
  • Journal of Development Economics
  • Journal of Finance
  • Journal of Financial Intermediation
  • Journal of International Economics
  • Journal of Monetary Economics
  • Journal of Money Credit and Banking
  • Review of Economic Studies
  • Review of Economics and Statistics
  • Review of Financial Studies
  • Theoretical Economics
Last update: October 3, 2022