Massimo Giovannini is the Manager of the Economic Research Office at the Central Bank of Malta. His research interests include DSGE modelling, quantitative macroeconomics, and applied econometrics. He has published in peer-reviewed journals such as the Journal of International Money and Finance, the Journal of Economic Dynamics and Control and Energy Economics. Prior to joining the Bank, he worked at the Joint Research Centre of the European Commission and at Università Cattolica del Sacro Cuore in Milan. He holds a BA in Economics from Bocconi University and a MA and a PhD in Economics from Boston College.

Email

Manager Economic Research Office

CBM Publications

• Crumbs make a loaf using product price data to nowcast food inflation - Research Bulletin 2025 - Article
• Details matter: loan pricing and transmission of monetary policy in the euro area - Working Paper 6/25
• A multi-country multi-sector DSGE model with environmental features - Research Bulletin 2023 - Article

External Publications

• Details matter: loan pricing and transmission of monetary policy in the euro area - ECB Working Paper Series No. 3078 (2025)
• The Euro Area’s pandemic recession: A DSGE-based interpretation - Journal of Economic Dynamics and Control (2022)
• The Euro Area's pandemic recession: A DSGE-based interpretation, with R. Cardani, O. Croitorov, P.Pfeiffer, M. Ratto and L. Vogel, Working Papers 2021-10, Joint Research Centre, European Commission
• Efficient and robust inference of models with occasionally binding constraints", with P. Pfeiffer and M. Ratto, Working Papers 2021-03, Joint Research Centre, European Commission
• Financial spillover and global risk in a multi-region model of the world economy, with O. Croitorov, S. Hohberger, M. Ratto and L. Vogel, Journal of Economic Behavior & Organization, 2020, 177, 185-218
• Euro Area and US external adjustment: The role of commodity prices and Emerging Market shocks, with S. Hohberger, R. Kollmann, M. Ratto, W. Roeger and L. Vogel, Journal of International Money and Finance, 2019, 94, 183-205
• Comparing post-crisis dynamics across Euro Area countries with the Global Multi-country model, with A. Albonico, L. Calés, R.Cardani, O. Croitorov, F. Ferroni, S. Hohberger, B. Pataracchia, F. Pericoli, R. Raciborski, M. Ratto, W. Roeger, L. Vogel, Economic Modelling, 2019, 81, 242-273
• Adjustment dynamics and business cycle heterogeneity in the EMU: Evidence from estimated DSGE models, with S. Hohberger, M. Ratto and Lukas Vogel, Working Papers 2018-08, Joint Research Centre, European Commission
• The Global Multi-Country Model (GM): An Estimated DSGE Model for the Euro Area Countries, with Alice Albonico, Ludovic Calés, Roberta Cardani, Olga Croitorov, Filippo Ferroni, Stefan Hohberger, Beatrice Pataracchia, Filippo Pericoli, Rafal Raciborski, Marco Ratto, Werner Roeger, Lukas Vogel, Working Papers 2017-010, Joint Research Centre, European Commission
• Conditional correlations in the returns on oil companies stock prices and their determinants, with A. Lanza, M. Manera and M.Grasso, Empirica, 2006, 33, 193-207
• Modeling and forecasting cointegrated relationships among heavy oil and product prices, with A. Lanza and M. Manera, Energy Economics, 2005, 27, 831-848
• Long-run models of oil stock prices, with A. Lanza, M. Manera and M. Grasso, Environmental Modelling and Software, 2005, 20, 1423-1430