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Lucrezia Reichlin

Professor of Economics

  • Laurea (Modena) PhD (New York)

Lucrezia Reichlin is Professor of Economics at London Business School; Non-Executive Director of UniCredit Banking Group; Research Director at the Centre for Economic Policy Research; and Chair of the Scientific Council at the Brussels-based think-tank, Bruegel.

She served as Director General of Research at the European Central Bank (between March 2005 and September 2008). She is a co-founder and director of Now-Casting Economics ltd. She is a columnist for the Italian daily paper Il Corriere della Sera. She received her PhD in economics from New York University and has held a number of academic positions, including Professor of Economics at the Université Libre de Bruxelles.

Professor Reichlin has been a consultant for several central banks around the world, including the Board of Governors of the Federal Reserve. She has been Chairman of the Centre for Economic Policy Research (CEPR) Euro Area Business Cycle Dating Committee and was co-founder and scientist in charge of the Euro Area Business Cycle Network. She is a Fellow of the British Academy, a Fellow of the European Economic Association and a member of the Council of the Royal Economic Society. She is also on the advisory board of several research and policy institutions around the world.

She has published numerous papers on econometrics and macroeconomics. She is an expert on forecasting, business cycle analysis and monetary policy. The econometric methods she has developed for short term forecasting (now-casting) are widely used in central banks around the world.

Her papers have appeared in top scientific journals, including the American Economic Review, Review of Economic Studies, Review of Economics and Statistics, Journal of Econometrics, Journal of Monetary Economics and Journal of the American Statistical Association.

2014

Monetary Policy and Banks in the Euro Area: The Tale of Two Crises

Reichlin L

Journal of Macroeconomics

2013

Now-Casting and the Real-Time Data-Flow

Reichlin L; Giannone D; Banbura M; Modugno M

Oxford Handbook on Economic Forecasting

2012

A Two-Step Estimator for Large Approximate Dynamic Factor Models Based on Kalman Filtering

Reichlin L; Doz C; Giannone D

Review of Economics and Statistics

The ECB and the Interbank Market

Giannone D; Lenza M; Pill H; Reichlin L

Economic Journal

A Maximum Likelihood Approach to Dynamic Factor Analysis in Large Panels

Reichlin L; Doz C; Giannone D

Review of Economics and Statistics

2011

A maximum likelihood approach to dynamic factor analysis in large panels

Reichlin L; Doz C; Giannone D

Journal of Econometrics

Short Term Forecasts Of Euro Area GDP Growth

Reichlin L; Angelini E; Camba-Mendez G; Giannone D; Ruensler G

Econometric Journal

Non-standard Monetary Policy Measures and Monetary Developments

Reichlin L; Giannone D; Lenza M; Pill H

2010

Bayesian VARS with Large Panels

Reichlin L; Banbura M; Giannone D

Journal of Applied Econometrics

Monetary Policy in Exceptional Times

Reichlin L; Lenza M; Pill H

Economic Policy

Opening the Black Box: The Econometrics of Structural Factor Models

Reichlin L; Forni M; Giannone D; Lippi M

Econometric Theory

Nowcasting Euro Area Economic Activity in Real-time: The Role of Confidence Indicator

Reichlin L; Gianoone D; Simonelli S

National Institute Economic Review

Monetary Analysis and Monetary Policy in the Euro Area 1999-2006

Reichlin L; Fischer B; Lenza M; Pill H

Journal of International Money and Finance

Euro Area Business Cycles

Reichlin L; Giannone D; Lenza M

Forecasting economic and financial variables using global VAR

Reichlin L; Giannone D

International Journal of Forecasting

Explaining the Great Moderation: It Is Not The Shocks

Reichlin L; Giannone D; Lenza M

Journal of European Economic Association

Discussion, macroeconomic dynamic in the euro area

Reichlin L; Boivin J; Mojon B

NBER International Macroeconomics Annual 2008

Nowcasting GDP and Inflation: The Real Time Informational Content of Macroeconomic Data Releases

Reichlin L; Giannone D; Small D

Journal of Monetary Economics

Money and monetary policy: The ECB experience 1999-2006

Reichlin L; Fischer B; Lenza M; Pill H

2007

Two-step estimator for large approximate dynamic factor models based on Kalman filtering

Reichlin L; Doz C; Giannone D

Review of Economics and Statistics

2006

Does information help recovering structural shocks from past observations?

Reichlin L; Giannone D

Journal of the European Economic Association

2005

A core inflation indicator for the Euro area

Reichlin L; Cristadoro R; Forni M; Veronese G

The generalised dynamic factor model: One sided estimation and forecasting

Forni M; Hallin M; Lippi M

Journal of the American Statistical Association

2004

The generalised dynamic factor model consistency and rates

Forni M; Hallin M; Lippi M; Rechlin L

Journal of Econometrics

2003

Do financial variables help forecasting inflation and real activity in the Euro area?

Reichlin L; Forni M; Hallin M; Lippi M

Journal of Monetary Economics

2001

A measure of co-movement for economic variables, theory and empirics

Reichlin L; Croux C; Forni M

Review of Economics and Statistics

Coincident and leading indicators for the Euro area

Reichlin L; Forni M; Hallin M; Lippi M

Economic Journal

Federal policies and local economies: Europe and the U.S.

Reichlin L; Forni M

European Economic Review

2000

The generalised dynamic factor model: identification and estimation

Forni M; Hallin M; Lippi M; Reichlin L

Review of Economics and Statistics

1999

Risk and potential insurance in Europe

Reichlin L; Forni M

European Economic Review

1996

Dynamic common factors in large cross-sections

Reichlin L; Forni M

Empirical Economics

Common and uncommon trends and cycles

Reichlin L; Lippi M

European Economic Review

Information forecasts and the measurement of the business cycle

Reichlin L; Evans G

Journal of Monetary Economics

VAR analysis, non-fundamental representations, blashke matrices

Reichlin L; Lippi M

Journal of Econometrics

1993

The dynamic effects of aggregate demand and supply disturbances: Comment

Lippi M; Reichlin R

American Economic Review

1992

On persistence of shocks to economic variables: a common misconception

Reichlin L; Lippi M

Journal of Monetary Economics

1989

Testing for structural change: discussion

Reichlin L

Econometric Review

Structural change and unit roots econometics

Reichlin L

Economics Letters

Segmented trends and non-stationary time series

Reichlin L; Rappoport P

Economic Journal

EMBA Dubai, Understanding the International Macroeconomy, SPR15

World Economy, Dubai AUT14, SPR15, SPR15 Block

Understanding the International Macroeconomy, AUT14

Banking and Monetary Policy in the Global Economy, SUM14


Research Interests

Monetary policy, applied macroeconomics and time series (developing econometric models to study high dimensional data), business cycle.