Marco Pagano

Marco Pagano is Professor of Finance at the Department of Economics and Statistics of the University of Naples Federico II, where he directs the Centre for Studies in Economics and Finance (CSEF). He is also a Research Fellow of the Einaudi Institute of Economics and Finance (EIEF), the Centre for Economic Policy Research (CEPR), and the European Corporate Governance Institute (ECGI). Currently, he chairs the Scientific Council of the Swiss Finance Institute (SFI) and the Scientific Committee of the Unicredit Foundation.

Dr. Pagano earned his B.A. in Economics from Cambridge University and his Ph.D. in Economics from MIT. His academic career includes teaching positions at Bocconi University and Imperial College before joining the University of Naples. His extensive educational background has positioned him as a leading scholar in finance and economics.

Professor Pagano's research focuses on financial markets, banking, corporate finance, and market microstructure. He has made significant contributions to understanding the interface between finance and other fields including labor economics, law, and macroeconomics. More recently, his work has expanded into climate finance and pandemic-related economic issues. His scholarly output demonstrates a consistent pattern of high-impact research addressing both theoretical and policy-relevant questions in finance.

His publications span the most prestigious journals in economics and finance, including the American Economic Review, Review of Economic Studies, Quarterly Journal of Economics, Journal of Finance, and Review of Financial Studies. His influential 2013 book 'Market Liquidity: Theory, Evidence and Policy' (co-authored with Thierry Foucault and Ailsa Roëll) was updated with a second edition in 2023.

• IQAM Runner-up Award for the best investment paper published in the Review of Finance (2022)
• 2011/2012 Inquire U.K. Prize for Excellence
• 2017 CICF Best Paper Award
• Featured in The Economist (2023)
• Featured in Nov. 2022 ECGI blog
• Editor's choice and lead article in Review of Finance (2017)

Professor Pagano has held numerous leadership positions, including managing editor of the Review of Finance (2004-2011), president of the Einaudi Institute for Economics and Finance (2011-2019), and chair of the Advisory Scientific Committee of the European Systemic Risk Board (2011-2019). He received an ERC Advanced Grant for a project on Finance and Labor (2011-2017) and has coordinated the Naples Ph.D. in Economics program in recent years. His policy contributions include multiple reports for the European Systemic Risk Board and other institutions on financial stability issues.

He leads the Centre for Studies in Economics and Finance (CSEF) at the University of Naples, which produces working papers and hosts research activities in various areas of economics and finance. His current research projects include examining the intersection of climate risk, bank lending, and monetary policy, as well as studying careers and wages in family firms using matched employer-employee data.