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Sydney Ludvigson is the New Tommaso Padoa Schioppa Visiting Professor

, by Weiwei Chen
A Professor of Economics at New York University will cover the position financed by the European Central Bank in Spring 2022

Sydney Ludvigson (New York University - NYU) is the Tommaso Padoa-Schioppa Visiting Professor at Bocconi for the academic year 2021-2022. She will be at Bocconi for the Spring 2022 semester.

The Professorship is funded by the European Central Bank (ECB) in memory of one of Bocconi's most illustrious alumni, among the founding fathers of the Euro and member of the Executive Board of the ECB from 1998 to 2005.

Ludvigson is the Julius Silver, Roslyn S. Silver, and Enid Silver Winslow Professor of Economics at New York University, as well as being the Chair of the Economics Department.

Since 2019, she has been the Co-Director of the National Bureau of Economic Research Asset Pricing Program.

Her research interests are at the interplay between asset markets and macroeconomic activity, with recent applications to the pricing and risk premia of stock, bond, and housing markets, the role of heterogeneity and wealth inequality in housing and stock market valuations, and the dynamic causal effects of uncertainty for business cycle fluctuations.

Professor Ludvigson succeeds Marco Di Maggio, Professor at Harvard Business School, who was the Tommaso-Padoa Schioppa Visiting Professor in the past academic year (2020-2021).

During his semester in Bocconi, Professor Di Maggio further fostered his research agenda by focusing on different lines of research. He shed new light on the economic effects of uncertainty, and more generally, on how asset prices might affect the real economy. In the same vein, he examined the effect of monetary policy on inequality. He also estimated a structural model of broker choice to quantitatively decompose the value that institutional investors attach to broker services.

Finally, in another project about underbanked households in the US, he concluded that aggressive bank practices create a demand for alternative financial services, thus highlighting an important link between the traditional and alternative financial systems and the role played by banks in limiting financial inclusion.

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