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Claudio Morana

Visiting Scholar 2021-2022 (Fall 2021)

Residency Dates: September 1, 2021 – December 31, 2021 (Virtual)


Claudio Morana

Claudio Morana is professor of economics at the Department of Economics, Management and Statistics (DEMS) at the University of Milano-Bicocca (Italy). He received his Ph.D. in economics from the University of Aberdeen. His research interests include macroeconomics, financial and climate change economics, and econometrics, with particular reference to the macro-finance interface and the interconnection of economic and financial cycles.

At the Minda de Gunzburg Center for European Studies (CES). Morana will work on a project, focusing on the pricing of climate change risk in the European stock market. It will also assess the implications of the COVID-19 pandemic in fostering investors’ awareness of the economic costs of climate change and the opportunities made available by the European Green Deal.

This information is accurate for the time period that the visiting scholar is affiliated with CES.


  • Professor of Economics, University of Milano-Bicocca
  • Visiting Scholar 2021-2022, Minda de Gunzburg Center for European Studies, Harvard University

Research Topic

Financial implications of climate change


  • Macroeconomics
  • Macro-Finance
  • Climate Change
  • Econometrics

Areas of Expertise

  • Macro
  • Financial
  • Climate Change Economics and Econometrics (with particular reference to the macro-finance interface and the interconnection of economic and financial cycles)


Baiardi, D. and Morana, C. (2021). ‘Climate change awareness: Empirical Evidence for the European Union.’ Energy Economics, 96. (forthcoming)

Morana, C. and Sbrana, G. (2019). ‘Climate change implications for the catastrophe bonds market: An empirical analysis.’ Economic Modelling, 81, pp.274–294.

Morana, C. (2019). ‘Regularized semiparametric estimation of high dimensional dynamic conditional covariance matrices.’ Econometrics and Statistics, 12, pp.42–65.

Other Affiliations

  • Director, The Center for European Studies, University of Milano-Bicocca
  • President and Director, Rimini Center for Economic Analysis - Europe (RCEA-Europe ETS)