Professor Pierpaolo Benigno, a LUISS professor and head of the Master of Science in Economics program, has won a consolidator grant awarded by the European Research Council (ERC), for his research on New Directions for Monetary Policy Analysis. This is the second ERC grant that Professor Benigno has been awarded since the ERC Starting Grant for 2009-2014.
The project’s aim is to analyze the management of monetary policy under extraordinary circumstances, such as the recent sub-prime mortgage crisis in the U.S. or the sovereign debt crisis in Europe. It will look into the role that conventional and unconventional monetary policies can have in dealing with the deterioration of the quality of certain financial assets and the reduction in financial levers on the part of economic agents.
Out of 3,673 applicants, 312 grants were awarded. Italy, the country ranked second by number of grants, can boast 46 of the selected research projects, only two less than the top-ranked country, Germany. Italy had far more winners than France (33), the United Kingdom (31) or The Netherlands (27). Of these 46 projects, only 20 will be carried out in Italy, two of which will be in the area of the social sciences, including Professor Benigno’s project.