Giovanni Ganelli
Last Updated: July 17, 2020
Giovanni Ganelli, an Italian national, is a Senior Economist in the Open Economy Macroeconomics Division of the Research Department. He previously worked in the Asia and Pacific Department--including as Deputy Head of Office in the IMF's Regional Office for Asia and the Pacific (OAP) in Tokyo, senior desk for Malaysia, and mission chief for Samoa--as well as in the European, Fiscal Affairs, and Institute for Capacity Development departments. During his IMF career, Giovanni has participated in different capacity in program, surveillance, and capacity building missions to various countries and RTACs, including Albania, Czech Republic, Georgia, Japan, Malaysia, Mauritius, Moldova, Samoa (as mission chief), Slovenia, the Joint Vienna Institute and the Singapore Training Institute. Giovanni has a PhD in Economics from the University of Warwick and an undergraduate degree in Economics and Statistics from the University of Rome "La Sapienza". His research has been published in various academic journals (including the IMF Economic Review, Journal of International Economics, Macroeconomic Dynamics and the Journal of Economic Dynamics and Control) and focuses on the effects of open economy macroeconomics, fiscal policy, structural reforms, and inclusive growth.
Email: GGANELLI@imf.org
Personal WebPage: http://ideas.repec.org/e/pga55.html
Fluent In: Italian, Japanese.
Education:
2002: PhD in Economics, University of Warwick (UK).
1998: MSc in Economics, University of Warwick (UK).
1995: Laurea in Economics and Statistics, University of Rome "La Sapienza" (Italy).
Referee Activities:
Applied Financial Economics; Bulletin of Economic Research; Comparative Economic Studies; Czech Journal of Economics and Finance; Decisions in Economics and Finance; Economics Bulletin; Economic Modelling; Economic and Social Review; European Economic Review; European Journal of Finance; IMF Staff Papers; International Economics and Economic Policy; International Journal of Finance and Economics; Journal of the European Economic Association; Journal of International Economics; Journal of International Money and Finance; Journal of Macroeconomics; Journal of Money, Credit and Banking; Macroeconomic Dynamics; Oxford Economic Papers; Scottish Journal of Political Economy; The B.E. Journal of Macroeconomics; The Economic Journal; The Manchester School.
Other Professional Positions:
July 2020-present: Senior Economist in the Open Economy Macroeconomics Division, Research Department.
September 2017-June 2020: Senior Economist in the Asia and Pacific Department (mission chief for Samoa; senior desk for Malaysia)
September 2015-August 2017: Deputy Head of Office, IMF Regional Office for Asia and the Pacific
August 2012-present: Senior Economist, IMF Office for Asia and the Pacific (OAP), Tokyo.
November 2011-July 2012: Senior Economist, IMF Institute
Oct 2007-October 2011: Economist, IMF Institute.
November 2009-Nov 2010: Consultant, World Bank Cambodia Country Office and Visiting Lecturer, Royal University of Phnom Penh (while on leave from the Fund).
October 2003-September 2007: Economist, European and Fiscal Affairs Departments, International Monetary Fund.
2002-2003: Research Fellow, Department of Economics and Institute for International Integration Studies, Trinity College Dublin.
Field of Expertise:
Open Economy Macroeconomics
IMF Books and Working Papers:
Role of Individual Characteristics and Policies in Driving Labor Informality in Vietnam , Working Paper No. 2020/273 , December 11, 2020
Determinants of Inclusive Growth in ASEAN , Working Paper No. 20/118 , July 03, 2020
The Welfare Multiplier of Public Infrastructure Investment , Working Paper No. 16/40 , February 29, 2016
Foreign Help Wanted : Easing Japan’s Labor Shortages , Working Paper No. 15/181 , July 30, 2015
How Inclusive Is Abenomics? , Working Paper No. 15/54 , March 13, 2015
Asia’s Quest for Inclusive Growth Revisited , Working Paper No. 15/42 , February 26, 2015
Value of WTO Trade Agreements in a New Keynesian Model , Working Paper No. 15/37 , February 25, 2015
Fiscal Devaluation in a Monetary Union , Working Paper No. 14/201 , October 30, 2014
Unstash the Cash! Corporate Governance Reform in Japan , Working Paper No. 14/140 , August 04, 2014
The Path to Higher Growth : Does Revamping Japan’s Dual Labor Market Matter? , Working Paper No. 13/202 , October 01, 2013
Tariff-Tax Reforms in Large Economies , Working Paper No. 12/139 , May 01, 2012
Tax Reforms, "Free Lunches", and "Cheap Lunches" in Open Economies , Working Paper No. 08/227 , September 01, 2008
Public Infrastructures, Public Consumption, and Welfare in a New-Open-Economy-Macro Model , Working Paper No. 07/67 , March 01, 2007
The International Effects of Government Spending Composition , Working Paper No. 05/4 , January 01, 2005
Public Spending Management and Macroeconomic Interdependence , Working Paper No. 04/102 , June 01, 2004
Other Published Materials
“Reforming Dual Labor Market in Advanced Economies” IMF Research Bulletin, December 2013
“Macroeconomic Impact of Fiscal Policy” IMF Research Bulletin, March 2006.
“Fiscal Impact of Remittances” in Albania: Selected Issues, IMF Staff Country Report No. 06/285.
Books
“Dynamic General Equilibrium Analysis: The Open Economy Dimension” (joint with Philip Lane), in Dynamic Macroeconomic Analysis (S. Altug, J. Chadha, C. Nolan, eds), Cambridge University Press (2003).
Publications in Journals (Refereed)
“Welfare Multiplier of Public Investment” (with Juha Tervala). IMF Economic Review, vol. 68(2), pages 390-420, June, (2020)
“Fiscal deficits as a source of boom and bust under a common currency,” (with Neil Rankin), Journal of International Money and Finance, vol. 104 (C), June, (2020).
“Spillovers from Japan’s Unconventional Monetary Policy to Emerging Asia: a Global VAR Approach” (with Nour Tawk). Economic Modelling, Vol. 77, pp. 147-163 (2019)
“Minimum Wage as a Wage Policy Tool in Japan” (with Chie Aoyagi and Nour Tawk). Forthcoming in The Japanese Political Economy, Vol. 42, pp. 72-88 (2018)
“Fiscal Devaluation in a Monetary Union” (with Philipp Engler, Juha Tervala, and Simon Voigts). IMF Economic Review, Vol. 65, Issue 2, 2017, pp. 241-272
“Unstash the Cash: Corporate Governance Reform in Japan” (with Chie Aoyagi). Journal of Banking and Financial Economics, Vol. 1, Issue 7, 2017, pp. 51-69
“How Inclusive is Abenomics?” (with Chie Aoyagi and Kentaro Murayama). Journal of International Commerce, Economics and Policy, Vol. 07, Issue 01, February (2016)
“Tariff-Tax Reforms in Large Economies” (with Juha Tervala). The World Economy, vol. 38 (12), pp.1990–2012 (2015)
“Asia’s Quest for Inclusive Growth Revisited” (joint with Chie Aoyagi). Journal of Asian Economics, October 2015, vol. 40(C), pages 29-46.
“Value of WTO Trade Agreements in a New Keynesian Model” (joint with Juha Tervala). Journal of Macroeconomics, September 2015, vol. 45(C), pages 347-362.
“Does Revamping Japan’s Dual Labor Market Matters?” (joint with Chie Aoyagi). Economic Systems, June 2015, vol. 39 (2), pages 339-357.
“Dynamic Scoring in Open Economies” (joint with Juha Tervala). Finanzarchiv, 70. March 2014, pp. 31-66.
“International Transmission of Environmental Policy: A New Keynesian Perspective” (Joint with Juha Tervala). Ecological Economics 70 (11), September 2011, pp. 2070-2082.
“The International Effects of Public Spending Composition” Economic Modelling, 27 (3), May 2010, pp. 631-640.
“Public Infrastructure, Public Consumption, and Welfare in a New-Open-Economy-Macro Model”.(Joint with Juha Tervala). Journal of Macroeconomic 32 (3), September 2010, pp. 827-837.
“Can Government Spending Increase Private Consumption? The Role of Complementarity”(Joint with Juha Tervala). Economics Letters 103 (1), April 2009, pp. 5-7.
“Public Spending Management and Macroeconomic Interdependence”. Open Economies Review 19 (2), April 2008, pp. 241-259.
“Fiscal Policy Rules in an Overlapping Generations Model with Endogenous Labour Supply”. Journal of Economic Dynamics and Control 31 (3), March 2007, pp. 1015-1036.
“The Effects of Fiscal Shocks on Consumption: Reconciling Theory and Data”. The Manchester School 75 (2), March 2007, pp. 193-209.
“Household Wealth in the Czech Republic: a Comparative Perspective”. Economic Systems 30 (2), June 2006, pp. 184-199.
“Home Bias in Government Spending and Quasi Neutrality of Fiscal Shocks”. Macroeconomic Dynamics 9, April 2005, pp.288-294
“The New Open Economy Macroeconomics of Government Debt”, Journal of International Economics 65 (1), January 2005, pp. 167-184.
“Useful Government Spending, Direct Crowding-Out and Fiscal Policy Interdependence”, Journal of International Money and Finance 22 (1), February 2003, pp. 87-103.
Publications in Books and Conference Volumes
“Labor Market Reform: Vital to the Success of Abenomics" (joint with Chie Aoyagi), in "Can Abenomics Succeed? Overcoming the Legacy of Japan's Lost Decades" (D. Botman, S. Danninger, J. Schiff, eds), International Monetary Fund (2015).
Other Published Materials
“Fiscal Policy and Public Investment in the New EU Member States” (joint with Ana Corbacho, Qiang Cui, Paolo Manasse, and Gerd Schwartz), in European Investment Bank Papers, Vol. 13, No. 1, pp. 114-149.
“Mundell-Fleming Model” and “Marginal Propensity to Import” in International Encyclopedia of the Social Sciences, 2nd edition. 9 vols. Edited by Darity, William A., Jr. Detroit: Macmillan Reference USA, 2008.
Giovanni Ganelli, an Italian national, is a Senior Economist in the Open Economy Macroeconomics Division of the Research Department. He previously worked in the Asia and Pacific Department--including as Deputy Head of Office in the IMF's Regional Office for Asia and the Pacific (OAP) in Tokyo, senior desk for Malaysia, and mission chief for Samoa--as well as in the European, Fiscal Affairs, and Institute for Capacity Development departments. During his IMF career, Giovanni has participated in different capacity in program, surveillance, and capacity building missions to various countries and RTACs, including Albania, Czech Republic, Georgia, Japan, Malaysia, Mauritius, Moldova, Samoa (as mission chief), Slovenia, the Joint Vienna Institute and the Singapore Training Institute. Giovanni has a PhD in Economics from the University of Warwick and an undergraduate degree in Economics and Statistics from the University of Rome "La Sapienza". His research has been published in various academic journals (including the IMF Economic Review, Journal of International Economics, Macroeconomic Dynamics and the Journal of Economic Dynamics and Control) and focuses on the effects of open economy macroeconomics, fiscal policy, structural reforms, and inclusive growth.
Email: GGANELLI@imf.org
Personal WebPage: http://ideas.repec.org/e/pga55.html
Fluent In: Italian, Japanese.
Education:
2002: PhD in Economics, University of Warwick (UK).
1998: MSc in Economics, University of Warwick (UK).
1995: Laurea in Economics and Statistics, University of Rome "La Sapienza" (Italy).
Referee Activities:
Applied Financial Economics; Bulletin of Economic Research; Comparative Economic Studies; Czech Journal of Economics and Finance; Decisions in Economics and Finance; Economics Bulletin; Economic Modelling; Economic and Social Review; European Economic Review; European Journal of Finance; IMF Staff Papers; International Economics and Economic Policy; International Journal of Finance and Economics; Journal of the European Economic Association; Journal of International Economics; Journal of International Money and Finance; Journal of Macroeconomics; Journal of Money, Credit and Banking; Macroeconomic Dynamics; Oxford Economic Papers; Scottish Journal of Political Economy; The B.E. Journal of Macroeconomics; The Economic Journal; The Manchester School.
Other Professional Positions:
July 2020-present: Senior Economist in the Open Economy Macroeconomics Division, Research Department.
September 2017-June 2020: Senior Economist in the Asia and Pacific Department (mission chief for Samoa; senior desk for Malaysia)
September 2015-August 2017: Deputy Head of Office, IMF Regional Office for Asia and the Pacific
August 2012-present: Senior Economist, IMF Office for Asia and the Pacific (OAP), Tokyo.
November 2011-July 2012: Senior Economist, IMF Institute
Oct 2007-October 2011: Economist, IMF Institute.
November 2009-Nov 2010: Consultant, World Bank Cambodia Country Office and Visiting Lecturer, Royal University of Phnom Penh (while on leave from the Fund).
October 2003-September 2007: Economist, European and Fiscal Affairs Departments, International Monetary Fund.
2002-2003: Research Fellow, Department of Economics and Institute for International Integration Studies, Trinity College Dublin.
Field of Expertise:
Open Economy Macroeconomics
IMF Books and Working Papers:
Role of Individual Characteristics and Policies in Driving Labor Informality in Vietnam , Working Paper No. 2020/273 , December 11, 2020
Determinants of Inclusive Growth in ASEAN , Working Paper No. 20/118 , July 03, 2020
The Welfare Multiplier of Public Infrastructure Investment , Working Paper No. 16/40 , February 29, 2016
Foreign Help Wanted : Easing Japan’s Labor Shortages , Working Paper No. 15/181 , July 30, 2015
How Inclusive Is Abenomics? , Working Paper No. 15/54 , March 13, 2015
Asia’s Quest for Inclusive Growth Revisited , Working Paper No. 15/42 , February 26, 2015
Value of WTO Trade Agreements in a New Keynesian Model , Working Paper No. 15/37 , February 25, 2015
Fiscal Devaluation in a Monetary Union , Working Paper No. 14/201 , October 30, 2014
Unstash the Cash! Corporate Governance Reform in Japan , Working Paper No. 14/140 , August 04, 2014
The Path to Higher Growth : Does Revamping Japan’s Dual Labor Market Matter? , Working Paper No. 13/202 , October 01, 2013
Tariff-Tax Reforms in Large Economies , Working Paper No. 12/139 , May 01, 2012
Tax Reforms, "Free Lunches", and "Cheap Lunches" in Open Economies , Working Paper No. 08/227 , September 01, 2008
Public Infrastructures, Public Consumption, and Welfare in a New-Open-Economy-Macro Model , Working Paper No. 07/67 , March 01, 2007
The International Effects of Government Spending Composition , Working Paper No. 05/4 , January 01, 2005
Public Spending Management and Macroeconomic Interdependence , Working Paper No. 04/102 , June 01, 2004
Other Published Materials
“Reforming Dual Labor Market in Advanced Economies” IMF Research Bulletin, December 2013
“Macroeconomic Impact of Fiscal Policy” IMF Research Bulletin, March 2006.
“Fiscal Impact of Remittances” in Albania: Selected Issues, IMF Staff Country Report No. 06/285.
Books
“Dynamic General Equilibrium Analysis: The Open Economy Dimension” (joint with Philip Lane), in Dynamic Macroeconomic Analysis (S. Altug, J. Chadha, C. Nolan, eds), Cambridge University Press (2003).
Publications in Journals (Refereed)
“Welfare Multiplier of Public Investment” (with Juha Tervala). IMF Economic Review, vol. 68(2), pages 390-420, June, (2020)
“Fiscal deficits as a source of boom and bust under a common currency,” (with Neil Rankin), Journal of International Money and Finance, vol. 104 (C), June, (2020).
“Spillovers from Japan’s Unconventional Monetary Policy to Emerging Asia: a Global VAR Approach” (with Nour Tawk). Economic Modelling, Vol. 77, pp. 147-163 (2019)
“Minimum Wage as a Wage Policy Tool in Japan” (with Chie Aoyagi and Nour Tawk). Forthcoming in The Japanese Political Economy, Vol. 42, pp. 72-88 (2018)
“Fiscal Devaluation in a Monetary Union” (with Philipp Engler, Juha Tervala, and Simon Voigts). IMF Economic Review, Vol. 65, Issue 2, 2017, pp. 241-272
“Unstash the Cash: Corporate Governance Reform in Japan” (with Chie Aoyagi). Journal of Banking and Financial Economics, Vol. 1, Issue 7, 2017, pp. 51-69
“How Inclusive is Abenomics?” (with Chie Aoyagi and Kentaro Murayama). Journal of International Commerce, Economics and Policy, Vol. 07, Issue 01, February (2016)
“Tariff-Tax Reforms in Large Economies” (with Juha Tervala). The World Economy, vol. 38 (12), pp.1990–2012 (2015)
“Asia’s Quest for Inclusive Growth Revisited” (joint with Chie Aoyagi). Journal of Asian Economics, October 2015, vol. 40(C), pages 29-46.
“Value of WTO Trade Agreements in a New Keynesian Model” (joint with Juha Tervala). Journal of Macroeconomics, September 2015, vol. 45(C), pages 347-362.
“Does Revamping Japan’s Dual Labor Market Matters?” (joint with Chie Aoyagi). Economic Systems, June 2015, vol. 39 (2), pages 339-357.
“Dynamic Scoring in Open Economies” (joint with Juha Tervala). Finanzarchiv, 70. March 2014, pp. 31-66.
“International Transmission of Environmental Policy: A New Keynesian Perspective” (Joint with Juha Tervala). Ecological Economics 70 (11), September 2011, pp. 2070-2082.
“The International Effects of Public Spending Composition” Economic Modelling, 27 (3), May 2010, pp. 631-640.
“Public Infrastructure, Public Consumption, and Welfare in a New-Open-Economy-Macro Model”.(Joint with Juha Tervala). Journal of Macroeconomic 32 (3), September 2010, pp. 827-837.
“Can Government Spending Increase Private Consumption? The Role of Complementarity”(Joint with Juha Tervala). Economics Letters 103 (1), April 2009, pp. 5-7.
“Public Spending Management and Macroeconomic Interdependence”. Open Economies Review 19 (2), April 2008, pp. 241-259.
“Fiscal Policy Rules in an Overlapping Generations Model with Endogenous Labour Supply”. Journal of Economic Dynamics and Control 31 (3), March 2007, pp. 1015-1036.
“The Effects of Fiscal Shocks on Consumption: Reconciling Theory and Data”. The Manchester School 75 (2), March 2007, pp. 193-209.
“Household Wealth in the Czech Republic: a Comparative Perspective”. Economic Systems 30 (2), June 2006, pp. 184-199.
“Home Bias in Government Spending and Quasi Neutrality of Fiscal Shocks”. Macroeconomic Dynamics 9, April 2005, pp.288-294
“The New Open Economy Macroeconomics of Government Debt”, Journal of International Economics 65 (1), January 2005, pp. 167-184.
“Useful Government Spending, Direct Crowding-Out and Fiscal Policy Interdependence”, Journal of International Money and Finance 22 (1), February 2003, pp. 87-103.
Publications in Books and Conference Volumes
“Labor Market Reform: Vital to the Success of Abenomics" (joint with Chie Aoyagi), in "Can Abenomics Succeed? Overcoming the Legacy of Japan's Lost Decades" (D. Botman, S. Danninger, J. Schiff, eds), International Monetary Fund (2015).
Other Published Materials
“Fiscal Policy and Public Investment in the New EU Member States” (joint with Ana Corbacho, Qiang Cui, Paolo Manasse, and Gerd Schwartz), in European Investment Bank Papers, Vol. 13, No. 1, pp. 114-149.
“Mundell-Fleming Model” and “Marginal Propensity to Import” in International Encyclopedia of the Social Sciences, 2nd edition. 9 vols. Edited by Darity, William A., Jr. Detroit: Macmillan Reference USA, 2008.