De Fiore, Fiorella



Monetary Policy Research

Current position


Fields of interest

Other Special Topics


Other current responsibilities
  • Adviser, Monetary Policy Research Division
  • Member of the Editorial Board of the ECB Working Paper
  • PhD in Economics, 2000. European University Institute, Florence, Italy.
  • Msc in Economics, 1995. London School of Economics, UK.
  • BA in Economics and Social Sciences, 1993. Bocconi University, Italy.
Professional experience
  • Research Fellow, CEPR, Monetary Economics and Fluctuations Programme, 2016 - today
  • Adviser, Financial Research Division, 2013-2015
  • Secretary of the ESCB Macro-prudential Research Network, 2012-2014
  • Principal economist, Capital Markets Division, DG-Economics, ECB, 2012.
  • Principal economist, Monetary Policy Division, DG Research, ECB, 1999-2011.
  • Ente Einaudi, Resident Research Fellow, 1998
  • International Monetary Fund, Economist Internship, 1997.
  • EU Commission, Macroeconomic Analysis and Policy Division, Expert, 1993-94.
  • EU Commission, DG Economic and Financial Affairs. Economist internship, 1992.

ECB Working Paper Series

ECB Occasional Paper Series

ECB Research bulletin

Journal publications

De Fiore, F. , and Z. Liu
Does Trade Openness Matter for Aggregate Instability?
Journal of Economic Dynamics and Control, 29, pp. 1165-1192, 2005.
De Fiore, F., and P. Teles
The Optimal Mix of Taxes on Money, Consumption, and Income
Journal of Monetary Economics, 50 (4), pp 871-887, 2003.
De Fiore, F., and W. Roeger
Growth and Employment Effects of Tax Reforms in Europe
Oxford Economic Papers, 51, pp. 200-222, 1999.
De Fiore, F., and O. Tristani
Credit and the Natural Rate of Interest
Journal of Money, Credit and Banking, 43(2-3), pp. 407-440, 2011.
De Fiore, F. and H. Uhlig
Bank Finance versus Bond Finance
Journal of Money, Credit and Banking, 43 (7), pp. 1395-1418, 2011.
De Fiore, F. and O. Tristani
Optimal Monetary Policy in a Model of the Credit Channel
Economic Journal, Vol. 123, Issue 571, pp. 906-931, 2012.
De Fiore, F. , P. Teles and O. Tristani
Monetary Policy and the Financing of Firms
American Economic Journal: Macroeconomics, 3, pp.1-31, 2011.
De Fiore, F. and H. Uhlig
Corporate Debt Structure and the Financial Crisis
Journal of Money, Credit and Banking, 47 (8), pp. 1571-1598, 2015.