GANELLI, Giovanni

The below information is as of September 30, 2017. It may differ from the current information.

GANELLI, Giovanni

GANELLI, Giovanni

Consulting Fellow (until September 30, 2017)

Deputy Head of Office, International Monetary Fund (IMF) Regional Office for Asia and the Pacific (OAP), Tokyo

Activities at RIETI


International Economics, Fiscal Policy, Structural Reforms in Japan


2002 Ph.D. in Economics, University of Warwick
1998 M.S.c in Economics, University of Warwick
1995 Laurea in Economics and Statistics, University of Rome "La Sapienza"


2015 Deputy Head of Office, IMF Office for Asia and the Pacific (OAP), Tokyo
2012 Senior Economist, IMF Office for Asia and the Pacific (OAP), Tokyo
2011 Senior Economist, IMF Institute, European Division.
2010 Economist, IMF Institute, European Division.
2009 Consultant, World Bank Cambodia Country Office and Visiting Lecturer, Royal University of Phnom Penh (while on leave from the Fund for personal reasons).
2007 Economist, IMF Institute, European Division.
2003 Economist, IMF, Fiscal Affairs and European Departments (joined in the IMF's Economist Program for young professionals)
2001 Research Fellow, Department of Economics and Institute for International Integration Studies (IIIS), Trinity College Dublin.

Selected Publications and Papers


Book Chapter on "Dynamic General Equilibrium Analysis: The Open Economy Dimension" (joint with Philip Lane), in Dynamic Macroeconomic Analysis (S. Altug, J. Chadha, C. Nolan, eds), Cambridge University Press (2003).

Working Papers

"Fiscal devaluation in a Monetary Union," (joint with Philipp Engler, Juha Tervala, and Simon Voigts). Discussion Papers 2013/18, Free University Berlin, School of Business & Economics.

"The Path to Higher Growth: Does Revamping Japan's Dual Labor Market Matter?" (joint with Chie Aoyagi), IMF Working Papers 13/202, International Monetary Fund.

"Tariff-Tax Reforms in Large Economies," (joint with Juha Tervala). IMF Working Papers 12/139, International Monetary Fund.

Papers Published in Refereed Journals

"Dynamic Scoring in Open Economies," (joint with Juha Tervala). FinanzArchiv, 70 (1), March 2014, pp. 31-66.

"International Transmission of Environmental Policy: A New Keynesian Perspective" (Joint with Juha Tervala). Ecological Economics 70 (11), September 2011, pp. 2070-2082.

"The International Effects of Public Spending Composition," Economic Modelling, 27 (3), May 2010, pp. 631-640.

"Public Infrastructure, Public Consumption, and Welfare in a New-Open-Economy-Macro Model,"(Joint with Juha Tervala). Journal of Macroeconomic 32 (3), September 2010, pp. 827-837.

"Can Government Spending Increase Private Consumption? The Role of Complementarity," (Joint with Juha Tervala). Economics Letters 103 (1), April 2009, pp. 5-7.

"Public Spending Management and Macroeconomic Interdependence," Open Economies Review 19 (2), April 2008, pp. 241-259.

"Fiscal Policy Rules in an Overlapping Generations Model with Endogenous Labour Supply," Journal of Economic Dynamics and Control 31 (3), March 2007, pp. 1015-1036.

"The Effects of Fiscal Shocks on Consumption: Reconciling Theory and Data," The Manchester School 75 (2), March 2007, pp. 193-209.

"Household Wealth in the Czech Republic: a Comparative Perspective," Economic Systems 30 (2), June 2006, pp. 184-199.

"The New Open Economy Macroeconomics of Government Debt," Journal of International Economics 65 (1), January 2005, pp. 167-184.

"Home Bias in Government Spending and Quasi Neutrality of Fiscal Shocks," Macroeconomic Dynamics 9, April 2005, pp.288-294

"Useful Government Spending, Direct Crowding-Out and Fiscal Policy Interdependence," Journal of International Money and Finance 22 (1), February 2003, pp. 87-103. [Reprinted in Norman C. Miller,
editor, Open Economy Macroeconomics, Edward Elgar Publishing Ltd., 2005.]


"Fiscal Policy and Public Investment in the New EU Member States," (joint with Ana Corbacho, Qiang Cui, Paolo Manasse, and Gerd Schwartz), in European Investment Bank Papers, Vol. 13, No. 1, pp. 114-149.

"Fiscal Impact of Remittances," in Albania: Selected Issues, IMF Staff Country Report No. 06/285.

"Macroeconomic Impact of Fiscal Policy," IMF Research Bulletin, March 2006.

"Mundell-Fleming Model" and "Marginal Propensity to Import" in International Encyclopedia of the Social Sciences, 2nd edition. 9 vols. Edited by Darity, William A., Jr. Detroit: Macmillan Reference USA, 2008.

"Effetti di Benessere della Politica Fiscale in un Modello a Due Paesi con Concorrenza Imperfetta" [Welfare Effects of Fiscal Policy in a Two-Country Model with Imperfect Competition], Annali della Fondazione Einaudi, Vol. 38 (1998).

"Variabili Fondamentali e Fenomeni di Autorealizzazione nella Crisi della Lira di Settembre 1992: un'Analisi Empirica" [Fundamentals and Self-fulfilling Phenomena in the Italian Lira Crisis in September 1992: an Empirical Analysis], Prospettive dell'Economia N. 2, (1997).

"Dal Sistema Monetario Europeo all'Unione Monetaria Europea: Alcune Proposte di Politica Economica" [From the European Monetary System to the European Monetary Union: Some Policy Proposals], Studi e Note di Economia N. 1, (1997).

"I Modelli di Crisi Valutarie: una Valutazione Critica" [Models of Currency Crises: a Critical Evaluation], Studi e Note di Economia N. 2, (1997).