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Elisa Faraglia

Elisa Faraglia

Title of research: Union Debt Management

Union Debt Management - The advent of the EURO and the recent European debt crisis have sparked a huge economic literature that studies how idiosyncratic and aggregate shocks can be managed in a currency union once the individual countries give up their monetary policy independence. In this project we want to analyse how debt management could help each country to smooth different types of fiscal shocks. The aim of the project is twofold. The first is empirical: using a data set of debt portfolios of five Euro Area governments, we want run a battery of panel VARs identifying separately idiosyncratic and aggregate spending shocks to study whether government portfolios have been effective to absorb idiosyncratic and aggregate shocks. The second aim is theoretical. We study the role of government debt maturity in a two country currency union model without fiscal transfers, aiming to identify conditions and bond characteristics under which debt management can complete the markets.

Project Update - August 2019

Project Update - April 2019

Project Update - August 2018


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NEW VACANCIES - CERF research Assistants/Associates

Dec 19, 2019

We are looking to recruit a Research Assistant/Associate to work at the Cambridge Endowment for Research in Finance (CERF) based in Central Cambridge at the University of Cambridge Judge Business School.

CERF Fellow Dr. Bang Dang Nguyen - paper will be presented at the AFA Annual Meeting 2020 in San Diego

Sep 26, 2019

Political Connections and Firm Value: Evidence from Close Gubernatorial Elections, joint with Q.A. Do (SciencesPo Paris) and Yen-Teik Lee (Curtin University), is accepted and will be presented at the AFA Annual Meeting 2020 in San Diego.

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