Meet the Economists
Marco Macchiavelli
marco.macchiavelli@frb.gov
Education
- Ph.D., Economics, Boston College, 2015
- M.A., Economics, University of Bologna, 2010
- Bank Runs and Rollover Risk
- Macro-Finance
Senior Economist
Board of Governors of the Federal Reserve System
2018 - presentEconomist
Board of Governors of the Federal Reserve System
2015 - 2018
- Macchiavelli, Marco, and Xing (Alex) Zhou (forthcoming). "Funding Liquidity and Market Liquidity: the Broker-Dealer Perspective," Management Science.
- Macchiavelli, Marco, and Luke Pettit (forthcoming). "Liquidity Regulation and Financial Intermediaries," Journal of Financial and Quantitative Analysis.
- Crosignani, Matteo, Marco Macchiavelli, and André F. Silva (2020). "Pirates without Borders: The Propagation of Cyberattacks through Firms' Supply Chains," Federal Reserve Bank of New York Staff Report, No. 937.
- Gissler, Stefan, Marco Macchiavelli, and Borghan Narajabad (2020). "Private Supply of Safe Assets: Shadow Banks versus Traditional Banks," AEA Papers and Proceedings, vol. 110, pp. 477-481.
- Ivanov, Ivan, Marco Macchiavelli, and João A. C. Santos (2020). "Bank Lending Networks and the Propagation of Natural Disasters," SSRN Electronic Journal.
- Carlson, Mark, and Marco Macchiavelli (2020). "Emergency Loans and Collateral Upgrades: How Broker-Dealers Used Federal Reserve Credit During the 2008 Financial Crisis," Journal of Financial Economics, vol. 137, no. 3 pp. 701-722.
- Brancati, Emanuele, and Marco Macchiavelli (2020). "Endogenous Debt Maturity and Rollover Risk," Financial Management, vol. 49, no. 1, pp. 69-90.
- Macchiavelli, Marco, and Luke Pettit (2019). "Shining a Light on the Shadows: Dealer Funding and Internalization," FEDS Notes 2019-12-20. Board of Governors of the Federal Reserve System (U.S.).
- Brancati, Emanuele, and Marco Macchiavelli (2019). "The Information Sensitivity of Debt in Good and Bad Times," Journal of Financial Economics., vol. 133, no. 1, pp. 99-112.
- Carlson, Mark, and Marco Macchiavelli (2018). "Emergency Collateral Upgrades," Finance and Economics Discussion Series 2018-078. Board of Governors of the Federal Reserve System (U.S.).
- Keating, Thomas, and Marco Macchiavelli (2018). "Interest on Reserves and Arbitrage in Post-Crisis Money Markets," FEDS Notes 2018-03-01. Board of Governors of the Federal Reserve System (U.S.).
- Macchiavelli, Marco, and Luke Pettit (2018). "Liquidity Regulation and Financial Intermediaries," Finance and Economics Discussion Series 2018-084. Board of Governors of the Federal Reserve System (U.S.).
- Iyer, Rajkamal, and Marco Macchiavelli (2017). "Primary Dealers' Behavior during the 2007-08 Crisis: Part II, Intermediation and Deleveraging," FEDS Notes 2017-06-28. Board of Governors of the Federal Reserve System (U.S.).
- Iyer, Rajkamal, and Marco Macchiavelli (2017). "Primary Dealers' Behavior during the 2007-08 Crisis: Part I, Repo Runs," FEDS Notes 2017-06-22. Board of Governors of the Federal Reserve System (U.S.).
- Iyer, Rajkamal, and Marco Macchiavelli (2017). "The Systemic Nature of Settlement Fails," FEDS Notes 2017-07-03. Board of Governors of the Federal Reserve System (U.S.).
- Keating, Thomas, and Marco Macchiavelli (2017). "Interest on Reserves and Arbitrage in Post-Crisis Money Markets," Finance and Economics Discussion Series 2017-124. Board of Governors of the Federal Reserve System (U.S.).
- Brancati, Emanuele, and Marco Macchiavelli (2016). "Endogenous Debt Maturity and Rollover Risk," Finance and Economics Discussion Series 2016-074. Board of Governors of the Federal Reserve System (U.S.).
- De Marco, Filippo, and Marco Macchiavelli (2016). "The Political Origin of Home Bias: The Case of Europe," Finance and Economics Discussion Series 2016-060. Board of Governors of the Federal Reserve System (U.S.).
- Brancati, Emanuele, and Marco Macchiavelli (2015). "The Role of Dispersed Information in Pricing Default: Evidence from the Great Recession," Finance and Economics Discussion Series 2015-079. Board of Governors of the Federal Reserve System (U.S.).
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