Carlo Alberto Medal Lecture: “The Global Capital Allocation Project”

ONLINE EVENT

“The Global Capital Allocation Project”

Matteo Maggiori

Stanford Graduate School of Business | recipient of the 2019 Carlo Alberto Medal

Introduction by Paolo Ghirardato, University of Turin and Fondazione Collegio Carlo Alberto

In recent decades, global flows of assets and goods have grown rapidly relative to GDP and have shifted aggressively during crises such as the global financial crisis and the current pandemic. Corporations and governments increasingly borrow from foreign investors, who face more options for allocating their capital in terms of asset class, currency, and geography. A sense of “who owns what” around the world, and why, is required to understand what these trends mean for the global economy. The lecture will provide an overview of Prof. Maggiori’s research exploring key elements driving global capital allocation. The lecture will focus in particular on the role of the dollar and offshore financial centers in shaping global capital allocations.

Matteo Maggiori is an associate professor of finance at Stanford Graduate School of Business. His research focuses on international macroeconomics and finance. He is a co-founder and director of the Global Capital Allocation Project. His research topics have included the analysis of exchange rate dynamics, global capital flows, the international financial system, the role of the dollar as a reserve currency, tax havens, bubbles, expectations and portfolio investment, and very long-run discount rates. His research combines theory and data with the aim of improving international economic policy. He is a faculty research fellow at the National Bureau of Economic Research and a research affiliate at the Center for Economic Policy Research. He received his PhD from the University of California at Berkeley.

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