Meet the Economists

Marco Macchiavelli
[email protected]
Education
- Ph.D., Economics, Boston College, 2015
- M.A., Economics, University of Bologna, 2010
- Bank Runs and Rollover Risk
- Macro-Finance
Principal Economist
Board of Governors of the Federal Reserve System
2021 - presentSenior Economist
Board of Governors of the Federal Reserve System
2018 - 2021Economist
Board of Governors of the Federal Reserve System
2015 - 2018
- Funding Liquidity and Market Liquidity: the Broker-Dealer Perspective
Marco Macchiavelli and Xing
Management Science (Forthcoming)
https://doi.org/10.1287/mnsc.2021.4053 - Liquidity Restrictions, Runs, and Central Bank Interventions: Evidence from Money Market Funds
Lei Li, Yi Li, Marco Macchiavelli, and Xing (Alex) Zhou
Review of Financial Studies (2021)
https://doi.org/10.1093/rfs/hhab065 - Liquidity Regulation and Financial Intermediaries
Marco Macchiavelli and Luke Pettit
Journal of Financial and Quantitative Analysis (2021)
https://doi.org/10.1017/S0022109020000654
See also » FRB Working Paper (2018) - Primary Markets for Short-term Debt and the Stabilizing Effects of the PDCF
Mark Carlson and Marco Macchiavelli
FEDS Notes (2021)
https://doi.org/10.17016/2380-7172.2917 - Emergency Loans and Collateral Upgrades: How Broker-Dealers Used Federal Reserve Credit During the 2008 Financial Crisis
Mark Carlson and Marco Macchiavelli
Journal of Financial Economics (2020)
https://doi.org/10.1016/j.jfineco.2020.03.005 - Bank Lending Networks and the Propagation of Natural Disasters
Ivan Ivanov, Marco Macchiavelli, and João A. C. Santos
Working Papers (SSRN) (2020) - Private Supply of Safe Assets: Shadow Banks versus Traditional Banks
Stefan Gissler, Marco Macchiavelli, and Borghan Narajabad
American Economic Review: Papers and Proceedings (2020)
https://doi.org/10.1257/pandp.20201098 - Endogenous Debt Maturity and Rollover Risk
Emanuele Brancati and Marco Macchiavelli
Financial Management (2020)
https://doi.org/10.1111/fima.12250
See also » FRB Working Paper (2016) - Pirates without Borders: The Propagation of Cyberattacks through Firms' Supply Chains
Matteo Crosignani, Marco Macchiavelli, and André F. Silva
Staff reports (Federal Reserve Bank of New York) (2020) - Shining a Light on the Shadows: Dealer Funding and Internalization
Marco Macchiavelli and Luke Pettit
FEDS Notes (2019)
https://doi.org/10.17016/2380-7172.2419 - The Information Sensitivity of Debt in Good and Bad Times
Emanuele Brancati and Marco Macchiavelli
Journal of Financial Economics (2019)
https://doi.org/10.1016/j.jfineco.2019.01.002 - Interest on Reserves and Arbitrage in Post-Crisis Money Markets
Thomas Keating and Marco Macchiavelli
FEDS Notes (2018)
https://doi.org/10.17016/2380-7172.2136
See also » FRB Working Paper (2017) - The Systemic Nature of Settlement Fails
Rajkamal Iyer and Marco Macchiavelli
FEDS Notes (2017)
https://doi.org/10.17016/2380-7172.1997 - Primary Dealers' Behavior during the 2007-08 Crisis: Part II, Intermediation and Deleveraging
Rajkamal Iyer and Marco Macchiavelli
FEDS Notes (2017)
https://doi.org/10.17016/2380-7172.1998 - Primary Dealers' Behavior during the 2007-08 Crisis: Part I, Repo Runs
Rajkamal Iyer and Marco Macchiavelli
FEDS Notes (2017)
https://doi.org/10.17016/2380-7172.1996 - The Political Origin of Home Bias: The Case of Europe
Filippo De Marco and Marco Macchiavelli
Finance and Economics Discussion Series (2016)
https://doi.org/10.17016/FEDS.2016.060 - The Role of Dispersed Information in Pricing Default: Evidence from the Great Recession
Emanuele Brancati and Marco Macchiavelli
Finance and Economics Discussion Series (2015)
https://doi.org/10.17016/FEDS.2015.079
seminar
12-2018Boston Fed
Emergency Collateral Upgrades and The Broker of Last Resort
conference
11-2018NY Fed-Bank of Italy Conference on Post-Crisis Regulation
Liquidity Regulation and Financial Intermediaries
conference
05-2018Fifth Annual Conference on Financial Market Regulation (SEC)
Primary Dealers' Behavior During the 2007-08 Crisis
conference
05-2018Workshop on Reserves and Money Markets Analysis (NY Fed)
Who is Trading Fed Funds?
discussion
03-2018Chicago Financial Institution Conference
Hedge Fund Liquidity Management
conference
03-2018Midwest Finance Association Conference
Primary Dealers' Behavior During the 2007-08 Crisis
conference
07-2017Fighting a Financial Crisis Conference (Yale SOM)
Access to Safe Assets and Financial Fragility
discussion
03-2017Chicago Financial Institution Conference
Self-fulfilling Fire Sales: Fragility of Collateralized Short-term Debt Markets
discussion
10-2016Monetary Policy Implementation in the Long Run (Minneapolis Fed)
ON RRP and Stability of the Tri-party Market
conference
09-2016IMF/Board Workshop on Monetary Policy and Financial Stability
Access to Safe Assets and Financial Fragility
conference
06-20165th MoFiR Workshop on Banking (DePaul)
The Political Origin of Home Bias: the Case of Europe
conference
03-2016Chicago Financial Institution Conference
The Role of Dispersed Information in Pricing Default: Evidence from the Great Recession
conference
01-2016MFM Meeting (NYU Stern)
The Role of Dispersed Information in Pricing Default: Evidence from the Great Recession
seminar
09-2015Yale School of Management
The Role of Dispersed Information in Pricing Default: Evidence from the Great Recession
Awards
- 2014
Becker Friedman Institute - University of Chicago
MFM Fellowship
Conference Organization
2021
Short-Term Funding Market Conference
Co-Organizer
Referee
- AER Insights
- Financial Management
- International Journal of Central Banking
- Journal of Financial Economics
- Journal of Financial Stability
- Journal of Money, Credit, and Banking
- Review of Financial Studies