Tommaso Monacelli is Full Professor of Economics at Bocconi University in Milan, and a Fellow of IGIER Bocconi and CEPR in London. He obtained a PhD in Economics at New York University, and he has been Assistant Professor at Boston College and Associate Professor at Bocconi University. He is associate editor of international scientific journals, including the Journal of the European Economic Association, the Journal of Money Credit and Banking, and the European Economic Review. He was Adjunct Professor at Columbia University, Visiting Professor at the Central European University, and Research Consultant for the ECB, OECD, IMF and Riksbank. His research interests concern monetary theory and policy, and international macroeconomics.