Prof. Claudio Morana

University of Milano-Bicocca, Italy

Professor

Email: claudio.morana@unimib.it

Qualifications

1997 Ph.D., Economics, University of Aberdeen, UK

1994 M.Sc., Economics., University of Glasgow, UK

Publications (Selected)

1. Extreme weather in Europe: Determinants and Economic Impact (with M Chauvet, M. Silva). European Economic Review, 2026, 186, forthcoming.
2. Climate and Sustainable Energy Econometrics and Statistics (with J. Castle, Z. Miller, and T. Proietti). Environmetrics, 2025, forthcoming.
3. Introduction to the Special Issue on Macroeconomic Regime Changes: Theory, Evidence, and Policy Challenges Ahead (with P. Benigno and P. Tirelli). European Economic Review, 2025,176, forthcoming.
4. Eurozone Economic Integration: Historical Developments and New Challenges Ahead (with F.C. Bagliano). European Economic Review, 2025, 176, forthcoming.
5. Climate change risk pricing in the European stock market (with N. Cassola, E. Ossola). Applied Economics, 2025, 57, 10081-10103.
6. Euro area inflation and a new measure of core inflation. Research in Globalization, 2023, 7, 1-25.
7. Is Climate Change Time Reversible? (with F. Giancaterini, A. Hecq), Econometrics, 2022, 10, 36, 1-18.
8. A new macro-financial condition index for the euro area, Econometrics and Statistics, 2024 (online 2021), 64-87.
9. The risks of exiting too early the policy responses to the COVID-19 recession (with N. Cassola, P. De-Grauwe, P. Tirelli), Research in Globalization, 2022 (online 2021), 1-5.
10. Climate change awareness: Empirical Evidence for the European Union (with D. Baiardi). Energy Economics, 2021, 96, 1-16.
11. Climate change implications for the catastrophe bonds market: An empirical analysis (with G. Sbrana). Economic Modelling, 2019, 81, 274-294.
12. Regularized semiparametric estimation of high-dimensional dynamic conditional covariance matrices, Econometrics and Statistics, 2019, 12, 42-65.
13. Financial development and income distribution inequality in the euro area (with D. Baiardi). Economic Modelling, 2018, 70, 40-55.
14. The US$/€ exchange rate: Structural modeling and forecasting during the recent financial crises, Journal of Forecasting, 2017, 36. 919-935.
15. It ain't over till it's over: A global perspective on the Great Moderation Great Recession interconnection (with F.C. Bagliano), Applied Economics, 2017, 49, 4946-4969.
16. Macroeconomic and financial effects of oil price shocks: Evidence for the euro area. Economic Modelling, 2017, 64, 82-96.
17. The financial Kuznets curve: Evidence for the Euro Area (with D. Baiardi), 2016, Journal of Empirical Finance, 39, 265-269.
18. Semiparametric Estimation of Multivariate GARCH Models, 2015, Open Journal of Statistics, 5, 852-858.
19. Model Averaging by Stacking, 2015, Open Journal of Statistics, 5, 797-807.
20. Insights on the Global Macro-Finance Interface: Structural Sources of Risk Factors Fluctuations and the Cross-Section of Expected Stock Returns, 2014, Journal of Empirical Finance, 29, 64-79.
21. Factor Vector Autoregressive Estimation of Heteroskedastic Persistent and Non-Persistent Processes Subject to Structural Breaks, 2014, Open Journal of Statistics, 4, 292-312.
22. New Insights on the US OIS Spreads Term Structure During the Recent Financial Turmoil, 2014, Applied Financial Economics, 24, 291-317.
23. Determinants of US Financial Fragility Conditions, (with F.C. Bagliano), 2014, Research in International Business and Finance, 30, 377-392.
24. The Oil Price-Macroeconomy Relationship since the Mid-1980s: A Global Perspective, 2013, Energy Journal, 34, 153-189.
25. Oil Price Dynamics, Macro-Finance Interactions and the Role of Financial Speculation, 2013, Journal of Banking and Finance, 37, 206-226.