Angela Maddaloni

Angela Maddaloni is a prominent researcher specializing in financial economics and macroeconomics at the European Central Bank (ECB), where she currently serves as Head of Section in Financial Research and Team Leader of the ECB research group on Macro-finance and macroprudential policy. She also holds a position as Research Fellow at the Leibniz Institute SAFE.

Her educational background includes:

• Ph.D. in Finance from Columbia University (2002)
• M.Phil. from Columbia University (2000)
• Laurea cum Laude in Statistics and Economics from the University of Siena, Italy (1993)

Dr. Maddaloni's research focuses on the intersection of financial economics, macroeconomics, and monetary policy. Her work examines how monetary policy interacts with financial stability, banking regulation, and credit markets. She has made significant contributions to understanding the credit channel of monetary policy, the impact of negative interest rates on bank behavior, and the relationship between prudential regulation and financial stability. Her research often employs micro-level banking data to analyze macroeconomic phenomena, bridging the gap between theoretical models and empirical evidence from real-world financial markets.

Her recent publications reveal a strong focus on contemporary challenges in monetary policy and financial regulation, including the impact of climate change on sovereign credit ratings, the effects of the pandemic on lending practices, and the architecture of financial supervision. Her work consistently addresses policy-relevant questions with rigorous empirical methodology, making significant contributions to both academic literature and central banking practice.

Her notable awards include:

• Isaak Kerstenetzky Award 2010, Honourable Mention for "Trusting the bankers: a new look at the credit channel of monetary policy"
• Columbia University Graduate School of Business full tuition fellowship and assistantship (1995-2000)
• Fellowship from Monte dei Paschi di Siena for visiting scholarship at Columbia University (1994-1995)

As Team Leader of the ECB research group on Macro-finance and macroprudential policy and former Coordinator of the ECB Research Task Force on Monetary Policy, Macroprudential Policy and Financial Stability, Dr. Maddaloni has supervised numerous researchers and contributed to major research initiatives at the ECB. Her work has informed central bank policy discussions on monetary policy transmission, banking regulation, and financial stability.

Dr. Maddaloni leads research teams focused on understanding the complex interactions between monetary policy, financial regulation, and banking behavior. Her teams have produced influential research on topics including the architecture of supervision, the impact of negative interest rates on bank risk-taking, and the role of non-bank financial intermediation in the euro area.