Catalin Dragomirescu-Gaina- PhD in Economics
- Associate Professor at Università Cattolica del Sacro Cuore
Catalin Dragomirescu-Gaina
- PhD in Economics
- Associate Professor at Università Cattolica del Sacro Cuore
About
27
Publications
1,720
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142
Citations
Introduction
I am an Associate Professor of Economics at Universita Cattolica del Sacro Cuore, Milano. I have 20+ years of professional and academic experience in diverse policy environments. My research interests span across macroeconomics, macrofinance, international and public finance, political economy, and applied econometrics.
Current institution
Additional affiliations
May 2016 - March 2017
Foundation for European Progressive Studies
Position
- Economist
March 2012 - March 2015
Joint Research Centre, European Commission
Position
- Economist
July 2004 - March 2012
Education
October 2016 - April 2020
Publications
Publications (27)
The transition to a low-carbon economy poses significant challenges for investors in energy markets, entailing higher uncertainty and not just higher risks. On the back of the ongoing greening in investment preferences, we focus on investors' group behaviour with respect to U.S. energy equities, which lie at the crossroads in this energy transition...
The paper proposes a novel point-wise entropy approach to measure the time-varying losses in the value of information that investors associate with market signals, financial and economic indicators, and news. We cast our approach in a Bayesian framework and assume that market agents update their beliefs to incoming signals based on a prior informat...
The paper analyses the strategic interactions of fiscal policies in the European Union context, by modelling the interdependencies arising between public and private sectors' saving-investment balances. In a global vector autoregressive framework, we use two empirical specifications to reflect some important differences in the sequencing of the pol...
The Chinese-led Belt and Road Initiative has created unprecedented economic opportunities for developing and underdeveloped countries that became more active in international trade, including in energy exports. The dynamics overlap with a worrying trend in democratic governance and accountability in these same countries, raising policy challenges f...
Donald Trump’s use of Twitter was unprecedented. Many of Trump’s strong statements in reference to the U.S. oil & gas industry were intended to advertise his domestic policy agenda aimed at supporting re-industrialization and investment. Did his Twitter messages actually reach domestic oil producers, refiners and transport operators, or rather spec...
Data and Matlab code to replicate
We analyse a sample of significant European financial intermediaries that fall under the Single Supervisory Mechanism, which is part of the existing institutional supervisory architecture of the Eurozone. Theory suggests that herding among financial intermediaries raises cross-sectional correlations and has negative implications for systemic risk....
Although COVID-19 is a global shock, governments adopted non-pharmaceutical policy responses that were rather heterogeneous, depending on cultural and institutional characteristics. At the country level, the stringency of ‘lockdown’-type policies should be set to achieve the best possible trade-off between economic and fatality dynamics, obviously...
We use stock market returns and a new, weekly available, GDP tracker to estimate a structural VAR identified with long-run restrictions. We find that global ‘news’ contribute more than local ‘news’ shocks to explaining the recent variance of equity returns from developing and small developed countries. Since data do not (yet) point to an increase i...
Active managers operating quick portfolio adjustments, backed only by some rough estimates and loose predictions, might improve their market timing performances to benefit in turbulent times, but oversimplification can lead to an inability to profit in calm markets. By selecting accuracy levels upfront, through different data-filtering techniques,...
No matter its source, financial- or policy-related, uncertainty can feed onto itself, inflicting the real economic sector, altering expectations and behaviours, and leading to identification challenges in empirical applications. The strong intertwining between policy and financial realms prevailing in Europe, and in Euro Area in particular, might c...
In a multi-sector model estimated on U.S. data, we apply standard long-run restrictions to investigate the labour market consequences of investment-specific and neutral technology shocks. We set up a global VAR model where aggregate technology shocks feed onto sector-specific dynamics and then propagate back through the network structure of the eco...
We empirically characterise Millennials’ policy preferences with respect welfare provision across nine EU member states. Starting from the observation that technology is increasingly seen as a means to climb the social ladder, we expose the link between local economic context and young people policy preferences. Our main findings indicate two diffe...
We present a comparative analysis of two empirical methods grounded on a common vector autoregressive framework. In this setting, we investigate the time-varying nature and direction of volatility spillovers between some major stock indexes spanning across Europe, China and US. We find evidence that drawing on partial Granger causality brings more...
This paper makes two important contributions. Firstly, it uncovers some of the main economic determinants driving the dynamics of public education spending in Europe. Drawing mainly on the insights provided by Baumol’s cost theory, the baseline specification uses unit labour costs and real GDP per capita as its main determinants. Some important ins...
This paper strives to answer the question whether Europe will reach its tertiary education attainment target by 2020. We model the dynamics behind education decisions as a balance between investment and consumption motivations. We use a panel approach and a wide range of statistical tests to insure that model specifications are stable and robust. I...
Skills are at the core of improving individuals’ employment outcomes and increasing countries productivity and growth while ensuring social cohesiveness. This is particularly relevant as today’s global competition is characterized by a higher share of knowledge-based content which heavily relies on high-level cognitive and behavioral skills. The 19...
This brief synthesizes doubts about the presently prevailing European
Institutions’ narrative, which we will call ‘the received wisdom’. We concentrate
on the long-term challenges and plead for more thinking on the
allegedly positive relation between innovation, employment and growth in
the face of opposing evidence coming from international organi...
We investigate the volatility dynamics of some major European Monetary Union sovereign bond markets. We provide an endogenous identification in terms of two Markov switching regimes for market volatility and analyze the impact of capital and trade flows together with policy actions on the persistence of volatility swings.
The empirical findings ind...
