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Paolo Surico

Professor of Economics


BA (Bari), Master in Economics (Universitat Ponpeu Fabra), PhD (Bocconi)

Professor Paolo Surico received his PhD in 2004 from Bocconi University and worked as a Research Advisor of the External Members of the Monetary Policy Committee of the Bank of England, before joining the Economics Department at London Business School in 2009.

His recent work focuses on assessing the aggregate effects and distributional impact of large public programme interventions such as government spending and tax reforms, giving particular emphasis to the role played by household debt in the transmission mechanism.

He is a Research Affiliate at the Centre for Economic Policy Research (London) and an academic consultant at the Bank of England. Paolo’s main research interests are in macroeconomics, fiscal policy and monetary economics. His work has been recently published in leading international academic journals and he has worked as an external consultant for the European Central Bank.

He was awarded the Best MBA Teacher Prize, as voted for by students, in the biennium 2011-2012. He is the holder of the Leverhulme Prize 2012 for the best economist in the U.K. under the age of 35 and he is a recipient of the British Academic mid-career fellowship in 2014.

Research Awards


  • Sep 14-Aug 15: British Academy Mid-career Fellowship.

  • Dec 14: Observatoire Français des Conjonctures Economiques, Science Po Keynote Speaker, workshop on “Empirical Monetary Economics”.

  • Sep 13: Centre for International Macroeconomics and Finance, University of Cambridge Keynote Speaker, conference on “Modern Macroeconomic Policy making”.

  • Apr 12: Euro Area Business Cycle Network and Bank of England Keynote Speaker, conference on “Money is Back”.

  • Nov 11: The Leverhulme Trust, Philip Leverhulme Prize 2011, as outstanding young research scholar under the age of 36 based in the U.K. who has made original and significant contributions in the field of  Economics.

  • Jul 11: London Business School Student Association MBA Best Teacher Award 2011, determined by student vote.

  • Jun 11: Kiel Institute for the World Economy Excellence Award in Global Economic Affairs 2011, Porsche Scholarship, as best economist under the age of 35 in the research area of global economic affairs.

  • Nov 10-Oct 14: European Research Council Starting Independennt Research (Grant 263429).

  • Nov 10: London Business School Student Association MBA First Year Teaching Award 2010 as most appreciated professor by first year students for outstanding efforts teaching.

  • Sep 08: CEPR/ESI, Best Central Bank Research Prize 2008 for the paper ‘Household External Finance and Consumption’, with Tim Besley and Neil Meads.

  • Sep 06: CEPR/ESI, Best Central Bank Research Nomination 2006 for the paper ‘Evolving International Inflation Dynamics: World and Country-Specific Factors’, with Haroon Mumtaz.

  • Apr 02: Scottish Economic Society, Glasgow Cairncross Prize, with Efrem Castelnuovo.

  • Sep 01-Aug 04: Bocconi University, Milan, Fellow of the PhD in Economics.

Research Interest

  • Macroeconomics
  • Monetary policy
  • Fiscal policy and applied econometrics
  • Heterogeneous behaviour
  • Great moderation
  • International co-movements (nominal and real)
  • Macrofinance model of the term structure of interest rates
  • Forecasting
  • Consumption and access to mortgage finance
  • Money neutrality
  • Bank lending channel