Ferrucci, Gianluigi



Monetary Policy Strategy

Current position

Senior Economist



Other current responsibilities
  • Senior Economist in DG-Economics
Professional experience
  • ECB, Senior economist, Euro Area External Sector & Euro Adoption Division (from January 2017)
  • ECB, Senior economist, Monetary Policy Strategy Division (July 2014 – January 2017)
  • IMF, Advisor to the Permanent ECB Representative/IMF Observer (June 2013 – July 2014)
  • ECB, Senior economist, Monetary Policy Strategy Division (December 2011 – May 2013)
  • ECB, Senior economist, Euro Area Macroeconomic Developments Division (August 2007 - November 2011)
  • ECB, Economist, International Policy Analysis and Emerging Economies Division (January 2006 - July 2007)
  • Bank of England, Economist, International Economic Analysis Division (January 2004 - December 2005)
  • Bank of England, Economist, International Finance Division (October 2000 - December 2003)
  • San-Paolo-IMI, Financial analyst, Large Corporate Division (September 1998 - October 2000)

Journal publications

Gianluigi Ferrucci, Valerie Herzberg, Farouk Soussa and Ashley Taylor
Understanding Capital Flows to Emerging Market Economies within a Push/Pull Framework
Bank of England Financial Stability Review (June 2004)
Gianluigi Ferrucci
Empirical Determinants of Emerging Market Economies’ Sovereign Bond Spreads
Bank of England Working Paper, n. 205 (October 2003)
Gianluigi Ferrucci and Adrian Penalver
Assessing Sovereign Debt under Uncertainty
Bank of England Financial Stability Review (June 2003)
Rodrigo Cifuentes, Gianluigi Ferrucci and Hyun Hong Shin
Liquidity Risk and Contagion
Journal of the European Economic Association, vol 3, No 2-3, pp 556-566, (April-May 2005)
Gianluigi Ferrucci
The output losses and fiscal costs of the financial crisis
In Vincenzo D’Apice and Giovanni Ferri (eds), Financial Instability: Toolkit for Interpreting Boom and Bust Cycles, Palgrave Macmillan Studies in Banking and Financial Institutions, (June 2010)
Gianluigi Ferrucci, Rebeca Jiménez-Rodríguez and Luca Onorante
Food price pass-through in the euro area: non-linearities and the role of the common agricultural policy
International Journal of Central Banking, vol 8, No 1, pp 179-217 (March 2012)
Olivier Biau, Heinz Dieden, Gianluigi Ferrucci, Roberta Friz and Staffan Linden
Consumers’ quantitative inflation perceptions and expectations in the euro area: an evaluation
Paper presented at the Conference by the Federal Reserve Bank of New York “Consumer Inflation Expectations”, (November 2010)
Roland Beck, Gianluigi Ferrucci, Arno Hantzsche and Matthias Rau-Göhring
Determinants of sub-sovereign bond yield spreads – The role of fiscal fundamentals and federal bailout expectations
Journal of International Money and Finance, vol 79, pp. 72-98 (December 2017)