Nicola Acocella (born 3 July 1939) is an

Italian Italian(s) may refer to: * Anything of, from, or related to the people of Italy over the centuries ** Italians, an ethnic group or simply a citizen of the Italian Republic or Italian Kingdom ** Italian language, a Romance language *** Regional Ita ...

economist An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are ...

and

academic An academy (Attic Greek: Ἀκαδήμεια; Koine Greek Ἀκαδημία) is an institution of secondary or tertiary higher learning (and generally also research or honorary membership). The name traces back to Plato's school of philosophy, ...

Emeritus Professor ''Emeritus'' (; female: ''emerita'') is an adjective used to designate a retired chair, professor, pastor, bishop, pope, director, president, prime minister, rabbi, emperor, or other person who has been "permitted to retain as an honorary title ...

of Economic Policy since 2014. In 1963 he graduated in

Economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...

from the “

Sapienza University of Rome The Sapienza University of Rome ( it, Sapienza – Università di Roma), also called simply Sapienza or the University of Rome, and formally the Università degli Studi di Roma "La Sapienza", is a public research university located in Rome, Ita ...

” 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.

Academic career

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 Kenneth Joseph Arrow (23 August 1921 – 21 February 2017) was an American economist, mathematician, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in Economic Sciences with John Hicks in 1972. In economics ...

Amartya Sen Amartya Kumar Sen (; born 3 November 1933) is an Indian economist and philosopher, who since 1972 has taught and worked in the United Kingdom and the United States. Sen has made contributions to welfare economics, social choice theory, econom ...

and Joseph Stiglitz and other eminent professors like

Paul De Grauwe Paul De Grauwe (; born 18 July 1946) is a Belgian economist and John Paulson Professor in European Political Economy at the London School of Economics and Political Science as head of the European Institute. He is also professor emeritus in in ...

, Alexis Jacquemin,

Adrian Pagan Adrian Rodney Pagan (born 12 January 1947 in Mungindi, Queensland) is an Australian economist and Professor of Economics in the School of Economics at the University of Sydney. From 1995 to 2000, he was a member of the board of the Reserve Ban ...

, Luigi L. Pasinetti, Douglas Hibbs, Andrew Hughes Hallett, Peter J. Hammond. He has visited, among others, the

University of Cambridge The University of Cambridge is a public collegiate research university in Cambridge, England. Founded in 1209 and granted a royal charter by Henry III in 1231, Cambridge is the world's third oldest surviving university and one of its most pr ...

Oxford Oxford () is a city in England. It is the county town and only city of Oxfordshire. In 2020, its population was estimated at 151,584. It is north-west of London, south-east of Birmingham and north-east of Bristol. The city is home to the ...

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anch ...

, Harvard,

Reading Reading is the process of taking in the sense or meaning of letters, symbols, etc., especially by sight or touch. For educators and researchers, reading is a multifaceted process involving such areas as word recognition, orthography (spelling ...

, Stanford as well as the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...

and the

United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmoniz ...

. He has been Professor of Economics with the

University of Perugia University of Perugia (Italian ''Università degli Studi di Perugia'') is a public-owned university based in Perugia, Italy. It was founded in 1308, as attested by the Bull issued by Pope Clement V certifying the birth of the Studium Generale. Th ...

; Professor of

Industrial organization In economics, industrial organization is a field that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets. Industrial organization adds real-world complications to the perf ...

and Economic Policy at the

University of Calabria The University of Calabria ( it, Università della Calabria, UNICAL) is a state-run university in Italy. Located in Arcavacata, a hamlet of Rende and a suburb of Cosenza, the university was founded in 1972. Among its founders there were Beniamino ...

; Professor of Economic Policy, Sapienza University of Rome. He has also been Head of the Department of Economics,

; Head of the Economics Graduate Studies Program, Sapienza University of Rome; Member of the Research Commission, Sapienza University of Rome

Membership and associations

* Member of the Executive Committee of the ‘Società Italiana degli Economisti’ (EN: ‘Italian Economic Association’) (2007–10). * Vice-president of the ‘Società Italiana degli Economisti’ (EN: ‘Italian Economic Association’) (2016–) * Member of the Committee for a full professorship in Macroeconomics, Wirtschaftsuniversität,

Vienna en, Viennese , iso_code = AT-9 , registration_plate = W , postal_code_type = Postal code , postal_code = , timezone = CET , utc_offset = +1 , timezone_DST ...

(2009).

Research and contributions to economic analysis

Prof. Acocella has developed his expertise in several research fields. He worked first on

industrial organisation In economics, industrial organization is a field that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets. Industrial organization adds real-world complications to the perf ...

and

globalization Globalization, or globalisation (English in the Commonwealth of Nations, Commonwealth English; American and British English spelling differences#-ise, -ize (-isation, -ization), see spelling differences), is the process of foreign relation ...

. 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

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 Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production proces ...

dynamics. He has also investigated

monetary Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are ...

and

fiscal policy In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variab ...

, both in abstract terms (dealing in particular with: conditions for their effectiveness, existence of a non vertical long-run

Phillips curve The Phillips curve is an economic model, named after William Phillips hypothesizing a correlation between reduction in unemployment and increased rates of wage rises within an economy. While Phillips himself did not state a linked relationship ...

, optimal

inflation rate In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reductio ...

) and with reference to the European institutional architecture (optimality of co-ordinated fiscal action and monetary policy orientation). A final path of analysis has led him to lay down a systematic approach to economic policy as a discipline to some extent autonomous from the rest of economic science, by enquiring on the various needs to heal market failures as well as the directions and the design of

public policy Public policy is an institutionalized proposal or a decided set of elements like laws, regulations, guidelines, and actions to solve or address relevant and real-world problems, guided by a conception and often implemented by programs. Public p ...

. About one of his contributions the

Nobel prize The Nobel Prizes ( ; sv, Nobelpriset ; no, Nobelprisen ) are five separate prizes that, according to Alfred Nobel's will of 1895, are awarded to "those who, during the preceding year, have conferred the greatest benefit to humankind." Alfr ...

has said: Of specific interest is his reformulation (together with Giovanni Di Bartolomeo and Andrew Hughes Hallett) of the classical theory of economic policy laid down by

Jan Tinbergen Jan Tinbergen (; ; 12 April 19039 June 1994) was a Dutch economist who was awarded the first Nobel Memorial Prize in Economic Sciences in 1969, which he shared with Ragnar Frisch for having developed and applied dynamic models for the analysis o ...

, Theil and

Ragnar Frisch Ragnar Anton Kittil Frisch (3 March 1895 – 31 January 1973) was an influential Norwegian economist known for being one of the major contributors to establishing economics as a quantitative and statistically informed science in the early 20th ce ...

in a setting immune from Lucas critique. This offers a novel contribution to the analysis of conditions not only for policy effectiveness or neutrality (showing the limits of validity of many currently accepted propositions on the effects of rational expectations and time inconsistency as well as on the role of policy announcements), but also for existence, uniqueness or multiplicity of the equilibrium in strategic games. The theory is of use also in an institutional perspective as a theory of conflict resolutions and optimal institution setting.

Notable publishing activities

Referee for various journals and international institutions. Among them:

Cambridge University Press Cambridge University Press is the university press of the University of Cambridge. Granted letters patent by King Henry VIII in 1534, it is the oldest university press in the world. It is also the King's Printer. Cambridge University Pre ...

Canadian Journal of Economics The ''Canadian Journal of Economics/Revue canadienne d'économique'' is a peer-reviewed academic journal of economics published quarterly by Wiley-Blackwell on behalf of the Canadian Economics Association. In 1967 the journal was established fro ...

Journal of Macroeconomics The ''Journal of Macroeconomics'' is a peer-reviewed academic journal established in 1979 that covers research on a broad range of issues in monetary economics and macroeconomics, including economic growth, fluctuations, fiscal policy, and macroeco ...

, Journal of Public Economic Theory,

Scottish Journal of Political Economy ''Scottish Journal of Political Economy'' is a scholarly political economy journal published by the Scottish Economic Society.United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmoniz ...

Honours and fellowships

* First Medal from the University of Rome ‘La Sapienza’ for 'excellence research' in the theory of economic policy in a strategic context (2009). * Fellow of the

British Academy The British Academy is the United Kingdom's national academy for the humanities and the social sciences. It was established in 1902 and received its royal charter in the same year. It is now a fellowship of more than 1,000 leading scholars spa ...

(1977) * Fellow of the Canadian Social Sciences and Humanities Research Council (1980) * Fellow of the American Council of Learned Societies (1980) * Evaluator for EU research projects (2008, 2010, 2012)

List of publications

A selection of his published works follows:The complete list of essays and books written by Prof. Acocella is available online on the website of the Department of Methods and Models for Economics, Territory and Financ
Sapienza University of Rome
.

Monographs in English language

* Acocella, N.

998 Year 998 ( CMXCVIII) was a common year starting on Saturday (link will display the full calendar) of the Julian calendar. Events By place Europe * Spring – Otto III retakes Rome and restores power in the papal city. Crescenti ...

‘''The foundations of economic policy. Values and techniques''’, Cambridge University Press, Cambridge, p. 519, translated into Chinese, Polish, Croatian, . * Acocella, N.

005 ''005'' is a 1981 arcade game by Sega. They advertised it as the first of their RasterScan Convert-a-Game series, designed so that it could be changed into another game in minutes "at a substantial savings". It is one of the first examples of a ...

‘''Economic policy in the age of globalisation''’, Cambridge University Press, Cambridge, p. 509, . * Acocella, N. and Leoni, R. (eds.) 007 ‘''Social pacts, employment and growth: a reappraisal of Ezio Tarantelli’s thought''’, Springer Verlag, Heidelberg, . * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A.

013 013 is a music venue in Tilburg, the Netherlands. The venue opened in 1998 and replaced the ''Noorderligt'', the ''Bat Cave'' and the ''MuziekKantenWinkel''. 013 is the largest popular music venue in the southern Netherlands. There are two concer ...

‘''The theory of economic policy in a strategic context''’, Cambridge University Press, Cambridge, . * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A.

016 HV-016 is a former military unit of Norway, that was a part of the Home Guard. It was established after 1985 to "stop terror- or sabotage actions that could weaken or paralyze Norway's ability to mobilize its military and its ability to resist". ...

‘''Macroeconomic paradigms and economic policy. From the Great Depression to the Great Recession''’, Cambridge University Press, Cambridge, . * Acocella, N. 018 ‘''Rediscovering Economic Policy as a Discipline''’, Cambridge University Press, Cambridge, . * Acocella, N.

020 020 is the national dialling code for London in the United Kingdom. All subscriber numbers within the area code consist of eight digits and it has capacity for approaching 100 million telephone numbers. The code is used at 170 telephone exch ...

‘''The European Monetary Union: Europe at the Crossroads''’, Cambridge University Press, Cambridge, .

Main monographs in Italian language

* Acocella, N.

975 Year 975 ( CMLXXV) was a common year starting on Friday (link will display the full calendar) of the Julian calendar. Events By place Byzantine Empire * Arab–Byzantine War: Emperor John I raids Mesopotamia and invades Syria, using ...

‘''Imprese multinazionali e investimenti diretti. Le cause dello sviluppo''’, Giuffrè, Milano. * Acocella, N.

983 Year 983 ( CMLXXXIII) was a common year starting on Monday (link will display the full calendar) of the Julian calendar. Events By place Europe * Summer – Diet of Verona: Emperor Otto II (the Red) declares war against the Byza ...

‘''L'impresa pubblica italiana e la dimensione internazionale: il caso dell'IRI''’, Einaudi, Torino, . * Acocella, N.

994 Year 994 ( CMXCIV) was a common year starting on Monday (link will display the full calendar) of the Julian calendar. Events By place Byzantine Empire * September 15 – Battle of the Orontes: Fatimid forces, under Turkish gener ...

‘''Fondamenti di politica economica. Valori e tecniche''’, Nuova Italia Scientifica, Roma, (5th ed., Carocci, Rome, 2011), . * Acocella, N.

999 999 or triple nine most often refers to: * 999 (emergency telephone number), a telephone number for the emergency services in several countries * 999 (number), an integer * AD 999, a year * 999 BC, a year Books * ''999'' (anthology) or ''999: T ...

‘''Politica economica e strategie aziendali''’, Carocci, Roma (5th ed., 2012).

Main articles in English language

* Acocella, N.

992 Year 992 ( CMXCII) was a leap year starting on Friday (link will display the full calendar) of the Julian calendar. Events By place Worldwide * Winter – A superflare from the sun causes an Aurora Borealis, with visibility as fa ...

‘''Trade and direct investment within the EC: The impact of strategic considerations''’, in: Cantwell, J. (ed.), ‘''Multinational investment in modern Europe''’, E. Elgar, Cheltenham. * Acocella, N. and Ciccarone, G.

997 Year 997 (Roman numerals, CMXCVII) was a common year starting on Friday (link will display the full calendar) of the Julian calendar. Events By place Japan * 1 February: Empress Teishi gives birth to Princess Shushi - she is the first ...

‘''Trade unions, non neutrality and stagflation''’, in: ‘''Public Choice''’, 91(2): 161–178. * Acocella, N. and Di Bartolomeo, G.

006 Alec Trevelyan (006) is a fictional character and the main antagonist in the 1995 James Bond film '' GoldenEye'', the first film to feature actor Pierce Brosnan as Bond. Trevelyan is portrayed by actor Sean Bean. The likeness of Bean as Ale ...

‘''Tinbergen and Theil meet Nash: controllability in policy games''’, in: ‘''Economics Letters''’, 90(2): 213–18. * Acocella, N.

‘''Distributive issues in the provision and use of global public goods''’, in: ‘''Studi economici''’, 88(1): 23–42. * Acocella, N., Di Bartolomeo, G. and Tirelli, P. 007 ‘''Monetary conservatism and fiscal coordination in a monetary union''’, in: ‘''Economics Letters''’, 94(1): 56–63. * Acocella, N. and Di Bartolomeo, G. 007 ‘''Is corporatism feasible?''’, in: ‘''Metroeconomica''’, 58(2): 340–59. * Acocella, N., Di Bartolomeo, G. and Tirelli, P. 007 ‘''Fiscal leadership and coordination in the EMU''’, in: ‘''Open Economies Review''’, 18(3): 281–9. * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A. 007 ‘''Dynamic controllability with overlapping targets: or why target independence may not be good for you''’, in: ‘''Macroeconomic Dynamics''’, 11(2): 202–13. * Acocella, N., Di Bartolomeo, G. and Hibbs, D.A. 008 ‘''Labor market regimes and the effects of monetary policy''’, in: ‘''Journal of Macroeconomics''’, 30: 134–56. * Acocella, N., Di Bartolomeo, G. and Tirelli, P. 009 ‘''The macroeconomics of social pacts''’, in: ‘''Journal of Economic Behavior & Organization''’, 72(1): 202–13. * Acocella, N., Di Bartolomeo, G. and Piacquadio, P.G. 009 ‘''Conflict of interest, (implicit) coalitions and Nash policy games''’, in: ‘''Economics Letters''’, 105(3): 303–05. * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A.

010 010 may refer to: * 10 (number) * 8 (number) in octal numeral notation * Motorola 68010, a microprocessor released by Motorola in 1982 * 010, the telephone area code of Beijing * 010, the Rotterdam Rotterdam ( , , , lit. ''The Dam on the R ...

‘''Policy games, policy neutrality and Tinbergen controllability under rational expectations''’, in: ‘''Journal of Macroeconomics''’, 32(1): 55–67. * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A.

011 The following is a list of different international call prefixes that need to be dialled when placing an international telephone call from different countries. Countries by international prefix Countries using optional carrier selection code ...

‘''Tinbergen controllability and n-player LQ-games''’, in: ‘''Economics Letters''’, 113(1): 32–4. * Acocella, N.

‘''The deflationary bias of exit strategies in the EMU countries''’, in: ‘''Review of economic conditions in Italy''’, 2–3: 471–93. * Acocella, N. and Di Bartolomeo, G.

‘''The cost of social pacts''’, in: ‘''Bulletin of Economic Research''’, (doi: 10.1111/j.1467-8586.2011.00405.x). * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A. 012 ‘''A general theory of controllability and expectations anchoring for small-open economies''’, in: ‘''Journal of International Money and Finance''’, 31(2): 397–411. * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A. 012 ‘''Expectations dynamics: policy, announcements and limits to dynamic inconsistency''’, in: ‘''Studies in Nonlinear Dynamics & Econometrics''’, 16(2), DOI: 10.1515/1558-3708, April. * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A. 012 ‘''Central banks and economic policy after the crisis: what have we learned?''’, ch. 5 in: Baker, H.K. and Riddick, L.A. (eds.), ‘''Survey of International Finance''’, Oxford University Press. * Acocella, N., Di Bartolomeo, G. and Tirelli, P. 012 ‘''Inflation targets and endogenous markups in a New Keynesian model''’, in: ‘''Journal of Macroeconomics''’, 34(2): 391–403. * Acocella, N., Di Bartolomeo, G. and Hughes Hallett, A. and Piacquadio, P.G.

014 014 may refer to: * Argus As 014 * BIND-014 * 014 Construction Unit * Divi Divi Air Flight 014 * Pirna 014 * Tyrrell 014 The Tyrrell 014 was a Formula One car, designed for Tyrrell Racing by Maurice Philippe for use in the season. The cars wer ...

‘''Announcement wars as an equilibrium selection device''’, Oxford Economic Papers 66(1): 325-347. * Di Bartolomeo , G., Tirelli P., Acocella, N.

‘''Trend inflation, the labor market wedge, and the non-vertical Phillips curve''’, Journal of Policy Modeling, 36(6): 1022-1035. * Di Bartolomeo , G., Tirelli P., Acocella, N. 015 ‘''The comeback of inflation as an optimal public finance tool''’, International Journal of Central Banking, 11(1): 43-70. * Acocella, N. 017 ‘''Rise and decline of economic policy as an autonomous discipline: A critical survey''’, Journal of Economic Surveys, 31(3): 661-902, 10.1111/joes.12168. * Hughes Hallett, A., Acocella, N. 017 ‘''Stabilization and expanded commitment: A theory of forward guidance for economies with rational expectations''’, Macroeconomic Dynamics, 2016
Cambridge.org
. * Acocella, N.

‘''How to reform the EU and EMU''’, Economia Internazionale/International Economics, 73(3), 325-350.

Main articles in Italian language

* Acocella, N.

976 Year 976 ( CMLXXVI) was a leap year starting on Saturday (link will display the full calendar) of the Julian calendar. Events By place Byzantine Empire * January 10 – Emperor John I Tzimiskes dies at Constantinople, after re ...

‘''I prezzi di trasferimento nelle imprese multinazionali: problemi di analisi e di politica''’, in: ‘''Note Economiche''’, n. 6. * Acocella, N.

979 Year 979 ( CMLXXIX) was a common year starting on Wednesday (link will display the full calendar) of the Julian calendar. Events By place Byzantine Empire * March 24 – Second Battle of Pankaleia: An Ibero-Byzantine expeditionary ...

‘''L'equilibrio oligopolistico in un contesto dinamico''’, in: ‘''Note Economiche''’, n. 5. * Acocella, N. and Ciccarone, G.

995 Year 995 ( CMXCV) was a common year starting on Tuesday (link will display the full calendar) of the Julian calendar. Events By place Japan * 17 May - Fujiwara no Michitaka (imperial regent) dies. * 3 June: Fujiwara no Michikane gain ...

‘''Moderazione salariale e scambio politico: un'analisi micro fondata''’, in: ‘''Rivista Italiana di Economia''’, numero zero, ottobre. * Acocella, N., Leoni, R. and Tronti, L.

‘''Per un nuovo patto sociale sulla produttività e sulla crescita''’
http://www.pattosociale.altervista.org
* Acocella, N. and Leoni, R.

‘''La riforma della contrattazione: redistribuzione perversa o produzione di reddito? ''’, in: ‘''Rivista italiana degli Economisti''’, 2: 237–74. * Acocella, N.

‘''Teoria e pratica della politica economica: l’eredità del recente passato''’, Rivista di Storia Economica, August 2013, 29 (2): 221-46.

References

External links

*
Profile on the “IDEAS”RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis Department
{{DEFAULTSORT:Acocella, Nicola 1939 births Living people People from Calitri Academic staff of the Sapienza University of Rome Sapienza University of Rome alumni Harvard Fellows Stanford University fellows Fellows of the British Academy Academics of the University of Oxford Academics of the University of Cambridge Academics of the University of Reading 20th-century Italian economists 21st-century Italian economists 20th-century Italian writers 21st-century Italian writers Writers from Campania Public economists Labor economists Macroeconomists Microeconomists Monetary economists

Academic career

Membership and associations

Research and contributions to economic analysis

Notable publishing activities

Honours and fellowships

List of publications

Monographs in English language

Main monographs in Italian language

Main articles in English language

Main articles in Italian language

See also

References

External links