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Nicola Acocella

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Nicola Acocella

Nicola Acocella (born 3 July 1939) is an Italian economist and academic, Emeritus Professor of Economic Policy since 2014.

In 1963 he graduated in Economics from the “Sapienza University of Rome” with a thesis on ‘Time lags in economic policy’, under the supervision of Federico Caffè. After becoming full professor (1980), he got a reputation for his holistic contribution to systematisation and development of Economic policy. He also introduced remarkable innovations in the theory of economic policy as well as in monetary and fiscal policy and the theory of social pacts.

During his career Prof. Acocella had the opportunity to exchange views or to co-operate with some of the most important economists of the twentieth century, such as Kenneth Arrow, Amartya Sen and Joseph Stiglitz and other eminent professors like Paul De Grauwe, Alexis Jacquemin, Adrian Pagan, Luigi L. Pasinetti, Douglas Hibbs, Andrew Hughes Hallett, Peter J. Hammond.[citation needed]

He has visited, among others, the University of Cambridge, Oxford, Toronto, Harvard, Reading, Stanford as well as the European Union and the United Nations.

He has been Professor of Economics with the University of Perugia; Professor of Industrial organization and Economic Policy at the University of Calabria; Professor of Economic Policy, Sapienza University of Rome. He has also been Head of the Department of Economics, University of Calabria; Head of the Economics Graduate Studies Program, Sapienza University of Rome; Member of the Research Commission, Sapienza University of Rome

Prof. Acocella has developed his expertise in several research fields. He worked first on industrial organisation and globalization. Among his numerous contributions in this field: a dynamic version of the static limit pricing model by Bain, Modigliani and Sylos Labini and a model for transfer pricing by multinational firms as well as a number of essays on the distributional and employment effects of globalization

He has also contributed to the theory of social pacts, their substitutability with other institutions – such as a conservative central banker – in order to ensure monetary stability, their implementation, with specific reference to the long-term Italian issue of a low productivity dynamics.

He has also investigated monetary and fiscal policy, both in abstract terms (dealing in particular with: conditions for their effectiveness, existence of a non vertical long-run Phillips curve, optimal inflation rate) and with reference to the European institutional architecture (optimality of co-ordinated fiscal action and monetary policy orientation).

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