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Mendicino, Caterina

Research

Division

Monetary Policy Research

Current position

Lead Economist

Fields of interest

Macroeconomics and Monetary Economics,
Financial Economics

Email

caterina.mendicino1@ecb.europa.eu

Other current responsibilities
  • 2018-2021
    Coordinator, ECB Research Task Force on Monetary Policy, Macroprudential Policy and Financial Stability
  • 2017-2018
    Coordinator, DG-Research Strategic Priority on the New Macroprudential Framework
  • 2015-2017
    Coordinator development of the financial block of the ECB-MC multi country model
  • 2015-2017
    Work-stream Coordinator, ECB Task Force on Operazionalizing Macroprudential Research (OMRTF)
  • 2014-2016
    Work-stream Coordinator, ESCB/WGEM-Low Inflation Task Force
  • 2015
    ECB representative, Basel Committee’s Policy Development Group, Research Task Force on the Integration of Regulatory Capital and Liquidity Instruments
  • 2011-2014
    Member, ESCB Research Network on Macroprudential Policy (MaRS)
  • 2008-2011
    Member, ESCB Working Group on Econometric Modelling
Education
  • 2000-2006
    PhD Economics, Stockholm School of Economics, Sweden
  • 2003-2004
    Marie-Curie PhD Fellowship Economics, Universitat Pompeu Fabra, Spain
  • 1999-2000
    MA Economics, Coripe-University of Turin, Italy
  • 1994-1999
    BA Economics, University Rome III, Italy
  • 1986-1994
    BA Classical Music, Conservatory of Classical Music “N. Piccinni” Bari, Italy
Professional experience
  • 2021-
    Senior Lead Economist, Monetary Policy Research Division, Directorate General Research, European Central Bank
  • 2020-2021
    Lead Economist, Monetary Policy Research Division, Directorate General Research, European Central Bank
  • 2015-2019
    Principal Economist, Monetary Policy Research Division, Directorate General Research, European Central Bank
  • 2013-2015
    Economist (ESCB-IO), Financial Research Division, Directorate General Research, European Central Bank
  • 2008-2013
    Research Economist, Monetary Policy Division, Economics and Research Department, Bank of Portugal
  • 2006-2008
    Economist, Monetary and Financial Analysis Department, Bank of Canada
  • 2003-2006
    PhD Researcher (Assegno di Ricerca), Economic Policy Research Group, University Rome III, Italy
  • 2005
    Summer Graduate Research Programme, Monetary Policy Research Division, Directorate General Research, European Central Bank
Teaching experience
  • 2010-2011
    Applied Macroeconomics (M.Sc) , Lecturer, Department of Economics, Catholic University, Portugal
  • 2003-2005
    Economic Policy (BA), Lecturer, Department of Economics, University Rome III, Italy
  • 2003
    Microeconomics I (PhD), Teaching Assistant, Stockholm School of Economics, Sweden
  • 2002
    Macroeconomics II (PhD), Teaching Assistant, Stockholm School of Economics, Sweden
Awards
  • 2014
    Fellowship, UECE-ISEG, Portugal
  • 2010
    Fellowship, UNICEE, Catholic University, Portugal (2010-2012)
  • 2006
    Research Fellowship, Ente Luigi Einaudi, Italy
  • 2006
    Research Grant, Louis Fraenckels stipendiefond, Sweden
  • 2004
    Research Grant, Project: "Credit Frictions and Business Cycle", Bankforskningstitutet, Sweden (2004-2006)
  • 2003
    Fellowship, Economic Policy Research Group, University of Rome III, Italy (2003-2006)
  • 2002
    Research Grant, Project "Financial Liberalization, Financial Fragility and Economic Growth" (J02/37), J. Wallander's Foundation Handelsbanken, Sweden (2002-2003)
  • 2001
    Scholarship, Liungbergs Foundation, Stockholm University, Sweden (2001-2002)
  • 2001
    Research Grant, Kocks Linberg Foundation, Sweden (2001, 2002)
  • 2001
    "Fausto Vicarelli" Undergraduate Thesis Award, Ente Luigi Einaudi, Italy
  • 2001
    Research Grant, The Royal Swedish Academy of Sciences, Stiftelsen Söderströms CC Foundation, Sweden
  • 2000
    Scholarship, Widar Bagges Foundation, Stockholm University, Sweden (2000-2001)
  • 1999
    Scholarship, CORIPE, Italy (1999-2000)
  • 1999
    Best Graduates Award, University of Rome III, Italy
  • 1994
    Scholarship, University of Rome III, Italy (1994-1997)

ECB Working Paper Series

2020
Mendicino, Caterina, Nikolov, Kalin, Suarez, Javier, Supera, Dominik, Ramirez, Juan-Rubio
Twin default crises
No 2414
2019
Mendicino, Caterina, Nikolov, Kalin, Suarez, Javier, Supera, Dominik
Bank capital in the short and in the long run
No 2286
2018
Hoerova, Marie, Mendicino, Caterina, Nikolov, Kalin, Schepens, Glenn, Heuvel, Skander Van den
Benefits and costs of liquidity regulation
No 2169
Guerrieri, Cinzia, Mendicino, Caterina
Wealth effects in the euro area
No 2157
2015
Nikolov, Kalin, Stracca, Livio, Derviz, Alexis, Mendicino, Caterina, Moyen, Stéphane, Clerc, Laurent, Suarez, Javier, Vardoulakis, Alexandros P.
Capital regulation in a macroeconomic model with three layers of default
No 1827
D'Agostino, Antonello, Mendicino, Caterina
Expectation-driven cycles: time-varying effects
No 1776
Mendicino, Caterina, Gomes, Sandra
Housing market dynamics: Any news?
No 1775
2007
Mendicino, Caterina
Credit market and macroeconomic volatility
No 743

ECB Occasional Paper Series

2013
Ciccarelli, Matteo, Hubrich, Kirstin, Ortega, Eva, Valderrama, Maria Teresa, D'Agostino, Antonello, Mendicino, Caterina, Guarda, Paolo
Working Group on Econometric Modelling of the ESCB

Ĉervená, Marianna, Haavio, Markus, Jeanfils, Philippe, Valentinyiné Endrész, Marianna

Financial shocks and the macroeconomy: heterogeneity and non-linearities
No 143

ECB Other publications

2017
Beyer, Andreas, Coeuré, Benoît, Mendicino, Caterina
The Crisis, Ten Years After: Lessons Learnt for Monetary and Financial Research

Journal publications

2021
M. Jasova, C. Mendicino, D. Supera
Policy Uncertainty, Lender of Last Resort and the Real Economy
Journal of Monetary Economics, In Press
A. D'Agostino, C. Mendicino, F. Puglisi
Expectation-Driven Cycles and the Changing Dynamics of Unemployment
Journal of Money Credit and Banking, In Press
2020
C. Mendicino, K. Nikolov, J. Suarez, D. Supera
Bank Capital in the Short and in the Long Run
Journal of Monetary Economics, Volume 115, November 2020, Pages 64-79
2019
P. Gelain, N. Iskraev, C. Mendicino, K. Lansing
Inflation Dynamics and Adaptive Expectations in an Estimated DSGE Model
Journal of Macroeconomics, Volume 59, January, Pages 258-277
2018
D. Finocchiaro, G. Lombardo, C. Mendicino, P.Weil
Optimal Inflation with Corporate Taxation and Financial Constraints
Journal of Monetary Economics, Volume 95, May 2018, Pages 18-31
C. Mendicino, Y. Zhang
Risk Shocks in a Small Open Economy: Business Cycle Dynamics in Canada
Economic Modelling, Volume 72, June 2018, Pages 391-409
C. Mendicino, K. Nikolov, J. Suarez, D. Supera
Optimal Dynamic Capital Requirements
Journal of Money Credit and Banking, Volume 50, May 2018, Pages 1271-1297
2017
S. Gomes, N. Iskrev, C. Mendicino
Monetary Policy Shocks: We Got News!
Journal of Economic Dynamics and Control, Volume 74, January 2017, Pages 108–128.
L. Lambertini, C. Mendicino, M.T. Punzi
Expectations-Driven Cycles in the Housing Market
Economic Modelling, Volume 60, January 2017, Pages 297-312.
2016
I. Christensen, P. Corrigan, C. Mendicino, S. Nishiyama
Housing Collateral, Residential Investment and the Canadian Business Cycle
Canadian Journal of Economics, February 2016, vol. 49 (1)
D.Finocchiaro, C. Mendicino
Financial Shocks, Comovement and Credit Frictions
Economics Letters, Volume 143, June 2016, Pages 20–23
2015
L. Clerc, S. Moyen, A. Derviz, C. Mendicino, K. Nikolov, L. Stracca, J. Suarez, A.Vardoulakis
Assessing Capital Requirements in a Macroeconomic Model with Three Layers of Defaults
International Journal of Central Banking, Vol. 11 No. 3, June 2015, Pages 9-63.
2014
C. Mendicino, M.T. Punzi
House Prices, Capital Inflows and Macroprudential Policy
Journal of Banking and Finance., Volume 49, December 2014, Pages 337–355
M. Haavio, C. Mendicino, M.T. Punzi
Financial and Economic Downturns in OECD Countries
Applied Economics Letters, Vol. 21(6), 2014, Pages 407-412.
C. Mendicino, M. Prado
Heterogeneous Firms and the Impact of Government Policy on Welfare and Informality
Economics Letters, Volume 124, Issue 1, July 2014, Pages 151-156
2013
L. Lambertini, C. Mendicino, M.T. Punzi
Leaning Against Boom-Bust Cycles in Credit and Housing Prices: Monetary and Macroprudential Policy
Journal Economic Dynamics and Control, Volume 37, Issue 8, August 2013, Pages 1500–1522.
L. Lambertini, C. Mendicino, M.T. Punzi
Expectation-Driven Cycles in the Housing Market: Evidence from Survey
Journal of Financial Stability, Volume 9(4), December 2013, Pages 518-529
A. Dib, C. Mendicino, Y. Zhang
Price-Level Targeting Rules and Financial Shocks: the Case of Canada
Economic Modelling, Volume 30, January 2013, Pages 941-953
with P. Gelain, M. Caterina, K.Lansing
House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy
International Journal of Central Banking, Volume 9, Number 2, June 2013, Pages 219-276.
2012
C. Mendicino
On the Amplification Role of Collateral Constraints
Economics Letters, Volume 117, Issue 2, November 2012, Pages 429–435

Other publications

2017
K.Nikolov, C.Mendicino, D.Supera
Capital Regulation: Lessons from a Macroeconomic Model
Achieving Financial Stability Challenges to Prudential Regulation, World Schientific Publishing Co., D. D Evanoff, G. G Kaufman, A. Leonello & S. Manganelli
2016
Colciago, A., Fahr, S. , Hurtado, S., Mendicino, C., Nikolov, K., Supera, D.
Capital requirements in a model for the SSM area with three layers of default
Macroprudential Bulletin, European Central Bank, vol. 1
2014
C. Mendicino
House prices and expectations
Research Bulletin, European Central Bank, vol. 21, pages 12-15
L. Clerc, S. Moyen, A. Derviz, C. Mendicino, K. Nikolov, L. Stracca, J. Suarez, A.Vardoulakis
Macroprudential capital tools: assessing their rationale and effectiveness
Financial Stability Review, Banque de France, issue 18, pages 183-194, April.
L. Clerc, S. Moyen, A. Derviz, C. Mendicino, K. Nikolov, L. Stracca, J. Suarez, A.Vardoulakis
The 3D Model: a Framework to Assess Capital Regulation
Economic Bulletin Article, Bank of Portugal
2013
C. Mendicino, M. T. Punzi
Confidence and economic activity: the case of Portugal
Economic Bulletin Article, Bank of Portugal
2011
C. Mendicino, M.T. Punzi
Boom-Bust Cycles and Stabilization Policy
Macroprudential Regulation and Policy, Bank for International Settlements, ISBN: 1609-0381.
C. Mendicino, M. T. Punzi
"Stabilization Policy and Boom-Bust Cycles - Monetary and Macro-Prudential Rules
Economic Bulletin Article, Bank of Portugal
2010
C. Mendicino, M. T. Punzi
Housing Market and Macroeconomic Boom-Bust Cycles
Moneda y Crédito, vol. 230, 2010. ISSN:0026-959X.
2009
C. Mendicino
Monetary Policy Expectations and Boom-Bust Cycles in the Housing Market
Economic Bulletin Article, Bank of Portugal
2006
C. Mendicino
Financial Market Imperfections, Business Cycle Fluctuations and Economic Growth
The Economics Institute for Research EFI, ISBN: 91-7258-705-9.
2004
A. Bonfiglioni, C. Mendicino
Financial Liberalization, Bank Crises and Growth: Assessing the links
SSE/EFI Working Paper Series in Economics and Finance 567, Stockholm School of Economics