Marco Pagano was born in 1956, holds a B.A. in Economics at Cambridge
University (UK) and a Ph.D. in Economics at MIT. After teaching
at the University of Naples, at Bocconi University and at the UniversitÓ di Salerno, he is now a Professor in the Economics Faculty at UniversitÓ di Napoli Federico II.
He is Co-Director of the Research Programme in Financial Economics
of the Centre for Economic Policy Research and a member of the
Council of the European Economic Association. He is a consultant
to the Italian Treasury on the reform of security markets, and
a member of the Treasury's commission for privatisations.
In 1997 he was awarded the BACOB European Prize for Economic and
Financial Research, jointly with Ailsa R÷ell. Most of his
work is in the area of financial economics, especially in the
field of stock market microstructure, where he has investigated
the relationship between stock market thinness, price volatility
and liquidity; the differences between dealer and auction markets;
and the competition between trading systems in European equity
markets. Recently, his research interests have also included topics
in banking and corporate finance.
He has also done research in macroeconomics, especially on saving
behavior and on the relationships between financial markets and
the macroeconomy. His publications have appeared in several journals,
such as The American Economic Review, The Review of Economic Studies,
The Quarterly Journal of Economics, The Journal of Finance, The
Review of Financial Studies, the European Economic Review, and
the Economic Journal.