Ugo Panizza
I am Professor of Economics, Department Head, and Pictet Chair in Finance and Development at the Geneva Graduate Institute. I am also the Director of the International Centre for Monetary and Banking Studies (ICMB), a Vice President of CEPR, Fellow of the Fondazione Luigi Einaudi, deputy director of the Centre for Finance and Development, and Editor of Oxford Open Economics. Prior to joining the Institute, I was the Chief of the Debt and Finance Analysis Unit at the United Nations Conference on Trade and Development (UNCTAD) and a Senior Economist in the Research Department of the Inter-American Development Bank. I also worked at the World Bank and taught at the American University of Beirut and at the University of Torino. You can find more about my research by looking at my VoxEU pieces, or visiting my Google Scholar and REPEC pages. I come from here. For a picture of the best things I ever produced click here. Follow me on BlueSky @upanizza.bsky.social
A classic paper that I coordinated
(check out the list of authors)
New(ish) stuff
Constitutional debt wrangles - redux, Financial Times Alphaville (with Aditya Bamzai and Mitu Gulati)
On the Benefits of Repaying, (forthcoming) Journal of the European Economic Association (with Francesca Caselli, Matilde Faralli and Paolo Manasse) CEPR DP 16539. Also on VoxEU
The Economic Consequences of the Second Trump Administration: A Preliminary Assessment 2025 (editor, with Gary Gensler, Simon Johnson, and Beatrice Weder di Mauro), CEPR,
Why are bond vigilantes holding back their fire?, (with Mitu Gulati), Reuters Markets, July 2025
IMF Programs and Borrowing Costs: Does Size Matter? 2025 European Economic Review (with S. Chahine and G. Suedekum) CEPR DP 19015 & IHEID WP 2025
Do Countries Default in Bad Times? The Role of Alternative Detrending Techniques, 2025 Economics Letters also CEPR DP, IHEID WP.
Long-Term Debt Sustainability in Emerging Market Economies: A Counterfactual Analysis, 2025 Review of Development Finance also HEID WP, UN DESA WP
Corporate Foreign Bond Issuance and Interfirm Loans in China, Journal of International Economics 2024 (with Y. Huang and R. Portes)
Bank Ownership Around the World, Journal of Banking and Finance 2024 also CEPR DP and IHEID WP
Public Investment Quality and its Implications for Sovereign Risk and Debt Sustainability (with A. Adarov) CEPR DP and IHEID WP
Environmental Damage News and Stock Returns: Evidence from Latin America (with E. Cavallo and A. Cepeda) IADB WP and CEPR DP
Delicate and Embarrassing: U.S. Loans to Suppress Haitian Independence (with M. Gulati, K. Oosterlinck and M. Weidemaier) IHEID DP
Some wild speculation about Ukrenergo bond prices (with Mitu Gulati and Mark Weidemaier) FT Alphaville, March 25, 2024
Obscure Contract Terms: An Inadvertent Pricing Experiment Capital Markets Law Journal 2024 (with S. Choi, M. Gulati, R. Scott, and M. Weidemaier) IHEID WP.
The 2012 Greek Retrofit and Borrowing Costs in the European Periphery, Journal of Law and Empirical Analysis, 2024 (with P. Bolton, X. Fu,and M. Gulati)
Risk, Contract Terms and Maturity in the Sovereign Bond Market, Journal of Financial Regulation, 2024 (with M. Bradley, I. De LiraSalvatierra, and M. Gulati)
A Generation of Italian Economists, Labour Economics 2024 (with Enrico Nano and Martina Viarengo) CEPR DP 16135. Also on VoxEU