Leonardo Gambacorta

Research Adviser
Monetary and Economic Department

Before taking up his current position, Leonardo Gambacorta was head of Monetary Policy in MED (2010-12) and head of the Money and Credit Unit in the Economic Outlook and Monetary Policy Department of the Bank of Italy (2007-09). He holds an MSc in economics from Warwick University and a PhD from the University of Pavia. He worked as a financial analyst in the Supervision Department of the Milan branch of the Bank of Italy before becoming head of the Banking Sector Unit of the former Research Department (2004-06). In 2002-03 he was a visiting scholar at the NBER. Author of many articles on the monetary transmission mechanism, his other research interests include the study of the financial structure of advanced and emerging market economies, banks' profitability and the business cycle, the links between financial stability and monetary policy, the optimal institutional arrangement for a monetary union, and the functioning of the securitisation market. He is a research fellow of the Centre for Economic Policy Research (CEPR).

Fields of interest

  • Banking
  • Macroeconomics
  • Monetary policy

Date BIS research papers
Sep 2017

The real effects of relationship lending

BIS Working Papers No 662

Other authors: Ryan Niladri Banerjee and Enrico Sette

Sep 2017

What are the effects of macroprudential policies on macroeconomic performance?

BIS Quarterly Review September 2017

Other authors: Codruta Boar, Giovanni Lombardo and Luiz Awazu Pereira da Silva

Jun 2017

Macroprudential policy and bank risk

BIS Working Papers No 646

Other authors: Yener Altunbas and Mahir Binici

Jun 2017

The shifting drivers of global liquidity

BIS Working Papers No 644

Other authors: Stefan Avdjiev, Linda Goldberg and Stefano Schiaffi

Jun 2017

The international dimensions of macroprudential policies

BIS Working Papers No 643

Other authors: Pierre-Richard Agénor, Enisse Kharroubi, Giovanni Lombardo and Luiz Awazu Pereira da Silva

May 2017

The impact of macroprudential policies and their interaction with monetary policy: an empirical analysis using credit registry data

BIS Working Papers No 636

Other authors: Andrés Murcia Pabón

Apr 2017

How post-crisis regulation has affected bank CEO compensation

BIS Working Papers No 630

Other authors: Vittoria Cerasi, Sebastian M Deininger and Tommaso Oliviero

Mar 2017

Changing business models in international bank funding

BIS Working Papers No 614

Other authors: Adrian Van Rixtel and Stefano Schiaffi

Feb 2017

Monetary policy and bank lending in a low interest rate environment: diminishing effectiveness?

BIS Working Papers No 612

Other authors: Claudio Borio

Feb 2017

The effects of tax on bank liability structure

BIS Working Papers No 611

Other authors: Giacomo Ricotti, Suresh Sundaresan and Zhenyu Wang