ERC Starting Grant awarded to Luca Fornaro


A total of 26 competitive grants from the European Research Council have been awarded to current Affiliated Professors of the Barcelona Graduate School of Economics.

Barcelona GSE Affiliated Professor Luca Fornaro (CREI, UPF and Barcelona GSE) has been awarded an ERC Starting Grant in the latest call from the European Research Council for his project, "Economic Fluctuations, Productivity Growth and Stabilization Policies: A Keynesian Growth Perspective."

European Research Council Starting Grants are highly competitive and awarded to research talent with less than seven years of experience and a scientific track record showing great promise, as determined by a panel of scientific peers. The ERC grants are indicators of world-class research across all academic disciplines.

Current Barcelona GSE Affiliated Professors all stages of their research careers have received a total of 26 ERC grants:

  • 12 ERC Starting Grants for promising researchers just establishing their careers
  • 7 ERC Consolidator Grants for mid-career researchers
  • 7 ERC Advanced Grants for established research leaders

Full list of ERC Grants in the Barcelona GSE research community

About this research

During the last two decades, low productivity growth has been a major source of concern in advanced economies. The traditional approach posits that weak productivity growth is the result of distortions on the supply side of the economy, and that growth can be revived only through "structural reforms."

In this project, Professor Fornaro will develop a novel Keynesian growth approach, which instead emphasizes the relationship between demand factors and productivity. Did the Great Recession contribute to the recent productivity growth slowdown? Should productivity enter the monetary policy trade-off? Did the adoption of the euro slow down growth in peripheral countries? Are capital flows from emerging to advanced economies depressing global productivity growth? These are some of the questions that he will tackle in this project.

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