Contact Information:
Email: “gm1310” at “nyu.edu”
Phone: 773-865-6337
Mail: 19 West 4th Street 10012, New York, NY 10012
Personal Information:
Date of birth: November 22, 1975.
Marital status: Married to טל כורם (Tal Correm).
Children: Agata and עליזה (Aliza).
Citizenship: Italian, US Permanent Resident
Current Positions:
Professor: Dept. of Economics, New York University, NY, 2018-.
Research Associate: National Bureau of Economic Research, MA, 2013-.
International Fellow: Dale T. Mortensen Center, Aarhus University, DK, 2017-.
Previous Positions:
Consultant: Federal Reserve Bank of Minneapolis, MN, 2016-2017.
Professor: Dept of Economics, University of Pennsylvania, PA, 2016-2018.
Visiting Associate Professor: Dept of Economics, Princeton University, NJ, 2012-2013.
Associate Professor: Dept of Economics, University of Pennsylvania, PA, 2011-2016.
National Fellow: Hoover Institution, Stanford University, CA, 2007-2008.
Assistant Professor: Dept of Economics, University of Pennsylvania, PA, 2005-2011.
Short-Term Visiting Positions:
Visiting Scholar: EIEF Rome, June 2012-2018, May 2023, June 2025.
Visiting Scholar: FRB Saint Louis, MO, May 2025.
Distinguished Visitor: Boston University, Boston, MA, December 2022.
Visiting Scholar: Becker-Friedman Institute, University of Chicago, IL, November 2022.
Visiting Scholar: Federal Reserve Bank of Minneapolis, MN, October 2022.
Visiting Professor: Tel Aviv University, June 2022.
Grainger Visitor: University of Wisconsin Madison, WI, May 2017.
Visiting Scholar: University of Western Ontario, ON, April 2017.
IGM Fellow: University of Chicago, IL, May 2015.
Visiting Scholar: UC Los Angeles, CA, May 2013.
Visiting Scholar: FRB Saint Louis, MO, October 2012.
Visiting Scholar: FRB Philadelphia, PA, May 2009, 2011, October 2012, 2013.
Visiting Scholar: Cowles Foundation, Yale University, CT, October 2010.
Visiting Scholar: University of Western Ontario, ON, April 2010.
PER Visitor: Columbia University, NY, November 2009.
Visiting Scholar: FRB Minneapolis, MN, December 2008.
Editorial Positions:
Editor: Review of Economic Dynamics, 2022-.
Board of Editors: American Economic Journal: Macro, 2020-.
Guest Editor: Journal of Economic Theory, Special Issue on Decentralized Markets, 2023.
Editorial Board: International Economic Review, 2011-2018.
Guest Editor: Review of Economic Dynamics, Special Issue in honor of Dale Mortensen, 2015.
Education:
Ph.D.: Economics, Northwestern University, Evanston, IL, 2005
Dissertation: The Wage Policy of the Firm:
Micro-foundations and Macro Implications
Committee Chairperson: Professor Dale T. Mortensen
M.A.: Economics, Northwestern University, Evanston, IL, 2002.
B.A.: Economics, University of Torino, Italy, 1994-1999, Summa cum Laude.
Honors, Scholarships and Grants:
Fellow of the Econometric Society, 2022.
Society of Economic Dynamics: Dale Mortensen Plenary Lecture, 2021.
Carlo Alberto Medal for Best Italian Economist Under 40, 2015.
National Bureau of Economic Research: Research Associate, 2013-.
National Bureau of Economic Research: Faculty Research Fellow, 2009-2013.
Duke University: Young Macroeconomists Jamboree, 2008.
Hoover Institution: W. Glenn Campbell and Rita Ricardo-Campbell Fellowship, 2007-08.
University of Pennsylvania: Kravis Award for Undergraduate Teaching, 2007.
Northwestern University: Graduate School Dissertation Year Fellowship, 2004-05.
Northwestern University: Graduate Fellow, 2003-04.
Northwestern University: Teaching Assistant Award, 2003.
Northwestern University: Distinction on Preliminary Examinations, 2001.
Medio Credito Centrale: Scholarship Marco Fanno, 2000-02.
Alleanza Assicurazioni: Best Thesis Award, 2000.
Publications:
[33] “Intermediation as Rent Extraction,” with Maryam Farboodi (MIT), Gregor Jarosch (Duke University), and Ursula Wiriadinata (IMF), Journal of Economic Theory, 2025, 227.
[32] “The Alpha Beta Gamma of the Labor Market,” with Victoria Gregory (Federal Reserve Bank of Saint Louis) and David Wiczer (Federal Reserve Bank of Atlanta), Journal of Monetary Economics, 150.
[31] “Search Theory of Imperfect Competition with Decreasing Returns to Scale,” Journal of Economic Theory, 2024, 218.
[30] “Production and Learning in Teams,” with Kyle Herkenhoff (University of Minneapolis), Jeremy Lise (University of Minneapolis) and Gordon Phillips (Dartmouth University), Econometrica, 2024, 92 (2): 467-504.
[29] “Market Freezes,” with Chao Gu (University of Missouri), Randall Wright (University of Wisconsin-Madison) and Yu Zhu (Bank of Canada), Journal of Money, Credit and Banking, 2024, 56 (6): 1291-1320.
[28] “Vertical Differentiation in Frictional Product Markets,” with James Albrecht (Georgetown University) and Susan Vroman (Georgetown University), Journal of Political Economy: Macro, 2023, 1 (3): 586-632.
[27] “Optimal Product Design: Implications for Competition and Growth under Declining Search Frictions.” Econometrica, 2023, 91 (2): 605-639.
[26] “Stubborn Beliefs in Search Equilibrium.” NBER Macro Annual, 2022, 37, 239-297, edited by M. Eichenbaum, E. Hurst and V. Ramey, University of Chicago Press.
[25] “Jacks of All Trades and Masters of One: Declining Search Frictions and Unequal Growth,” with Paolo Martellini (Federal Reserve Bank of Minneapolis). American Economic Review: Insights, 2021, 3 (3): 336-352.
[24] “Revisiting the Hypothesis of High Discounts and High Unemployment,” with Paolo Martellini (Federal Reserve Bank of Minneapolis) and Ludo Visschers (University of Edinburgh), Economic Journal, 2021, 131 (637): 2203-2232.
[23] “Declining Search Frictions, Unemployment and Growth,” with Paolo Martellini (University of Pennsylvania), Journal of Political Economy, 2020, 128 (12): 4387-4437. Lead Article.
[22] “Pandemic Recession: L or V Shaped?” with Victoria Gregory (New York University) and David Wiczer (Stony Brook University), Quarterly Review, 2020, 40: 1-28.
[21] “Agency Business Cycles,” with Mikhail Golosov (University of Chicago), Theoretical Economics, 2020, 15: 123-158.
[20] “Relative Price Dispersion: Evidence and Theory,” with Greg Kaplan (University of Chicago), Leena Rudanko (Federal Reserve Bank of Philadelphia), Nicholas Trachter (Federal Reserve Bank of Richmond), American Economic Journal: Microeconomics, 2019, 11 (3): 68-124.
[19] “Intra Firm Bargaining and Shapley Values,” with Bjoern Brugemann (Free University of Amsterdam) and Pieter Gautier (Free University of Amsterdam), Review of Economic Studies, 2019, 86 (2): 564-592.
[18] “The (Q,S,s) Pricing Rule,” with Ken Burdett (University of Pennsylvania), Review of Economic Studies, 2018, 85 (2), 892-928.
[17] “Equilibrium Price Dispersion Across and Within Stores,” with Nicholas Trachter (Federal Reserve Bank of Richmond), Review of Economic Dynamics, 2018, 28 (2), 205-220.
[16] “Evidence on the Relationship between Recruiting and Starting Wage,” with Jason Faberman (Federal Reserve Bank of Chicago), Labour Economics, 2018, 50 (1), 67-79.
[15] “The (Q,S,s) Pricing Rule: A Quantitative Analysis,” with Ken Burdett (University of Pennsylvania), Research in Economics, 2017, 71 (4), 784-797.
[14] “Shopping Externalities and Self-Fulfilling Unemployment Fluctuations,” with Greg Kaplan (Princeton University), Journal of Political Economy, 2016, 124 (3), 771-825.
[13] “Directed Search over the Life Cycle,” with Irina Telyukova (University of California at San Diego) and Ludo Visschers (University of Edinburgh), Review of Economic Dynamics, 2016, 19 (1), 38-62.
[12] “Equilibrium Price Dispersion with Sequential Search,” with Nicholas Trachter (Federal Reserve Bank of Richmond), Journal of Economic Theory, 160 (6), 188-215.
[11] “The Morphology of Price Dispersion,” with Greg Kaplan (Princeton University), International Economic Review, 2015, 56 (4), 1165-1206.
[10] “Taxation and Redistribution of Residual Income Inequality,” with Mikhail Golosov (Princeton University) and Pricila Maziero (University of Pennsylvania), Journal of Political Economy, 2013, 121 (6), 1160-1204.
[9] “Monetary Theory with Non-Degenerate Distributions,” with Shouyong Shi (University of Toronto) and Hongfei Sun (Queen’s University), Journal of Economic Theory, 2013, 148 (6), 2266-2312.
[8] “Sticky Prices: A New Monetarist Approach,” with Allen Head (Queen’s University), Lucy Qian Liu (IMF) and Randall Wright (University of Wisconsin-Madison), Journal of the European Economic Association, 2012, 10 (5), 939-973. Lead article.
[7] “Efficient Search on the Job and the Business Cycle,” with Shouyong Shi (University of Toronto), Journal of Political Economy, 2011, 119 (3), 468-510.
[6] “Job Search with Bidder Memories,” with Carlos Carillo-Tudela (University of Essex) and Eric Smith (University of Essex), International Economic Review, 2011, 52 (3), 639-655.
[5] “Inflation and Unemployment in the Long Run,” with Aleksander Berentsen (University of Basel) and Randall Wright (University of Wisconsin-Madison), American Economic Review, 2011, 101 (1), 371-398.
[4] “Worker Replacement,” with Espen Moen (Norwegian School of Management), Journal of Monetary Economics, 2010, 57 (6), 623-636. Lead article.
[3] “Directed Search on the Job, Heterogeneity and Aggregate Fluctuations,” with Shouyong Shi (University of Toronto), American Economic Review, 2010, 100 (2), 327-332.
[2] “Block Recursive Equilibria for Stochastic Models of Search on the Job,” with Shouyong Shi (University of Toronto), Journal of Economic Theory, 2010, 145 (4), 1453-1494.
[1] “A Theory of Partially Directed Search,” Journal of Political Economy, 2007, 115 (5), 748-769.
Working Papers:
“Markups: A Search-Theoretic Perspective,” NBER Working Paper 32888, Revise and Resubmit at the Journal of Political Economy, April 2025.
“A Quantitative Theory of Heterogeneous Returns to Wealth,” with Saverio Spinella (NYU), NBER Working Paper 33253, May 2025.
“More on onetary Economics,” with Saverio Spinella (NYU), Manuscript, July 2025.
“Efficient Imperfect Competition with an Application to International Trade,” NBER Working Paper 33253, December 2024.
“Private and Social Learning in Frictional Product Markets,” with Sephorah Mangin (Australian National University), Manuscript, February 2024.
“A Delegation Approach to Regulating Hiring Discrimination,” with Paolo Martellini (University of Wisconsin-Madison), NBER Working Paper 32018, January 2024.
“Rolodex Game in Networks,” with Bjoern Brugemann (Free University of Amsterdam) and Pieter Gautier (Free University of Amsterdam), Manuscript, August 2017.
“A Search Theory of Rigid Prices,” PIER Working Paper 07-031, September 2007.
“High-Frequency Wage Rigidity,” Job Market Paper, March 2005.
Keynote Lectures:
2024: West Coast Search and Matching Workshop, Simon Fraser University, Vancouver, Canada.
2024: Australasian Search and Matching Workshop, University of Hawaii Honolulu, HI.
2023: Bristol Macroeconomic Workshop, University of Bristol, UK.
2023: DC Search and Matching Workshop, DC.
2022: Distinguished Visitor Lecture, Boston University.
2021: Dale Mortensen Plenary Lecture, Society of Economic Dynamics, Minneapolis.
2019: CSEF-IGIER Symposium on Economics and Institutions, Capri, Italy.
2015: Carlo Alberto Lecture, University of Turin, Italy.
2014: Conference in Honor of Christopher Pissarides, Sciences Po, Paris, France.
2014: Europe Search and Matching Conference in Aix-en-Provence, France.
2013: Nordic Summer Symposium in Macroeconomics, Iceland.
2013: Shanghai Macroeconomic Workshop, SHUFE, China.
Invited Seminars:
2024: FRB Philadelphia, University of British Columbia (joint macro and labor), UC San Diego, UC Irvine, MIT, UW Madison (labor), University of Pennsylvania, Stanford University (trade), ITAM (department-wide), FRB Saint Louis, Search and Matching in Macro and Finance Lecture Series (virtual), Einaudi Institute for Economics and Finance.
2023: Yale University, New York University (macro lunch).
2022: FRB Richmond, FRB Minneapolis, University of Chicago, Arizona State University, Boston University, Rutgers University, New York University (macro lunch), McGill University, Universita’ Bocconi, Universitat Pompeu Fabra, Einaudi Institute for Economics and Finance.
2021: Universitat Autonoma de Barcelona, NYU Abu Dhabi, Drexel University, Peking University, Arizona State University, SUNY Albany.
2020: New York University (macro lunch), Virginia Commonwealth University, UT Austin, Tel Aviv University.
2019: FRB Saint Louis, FRB San Francisco, Ohio State University, Boston College, Search and Matching in Macro and Finance Lecture Series (virtual).
2018: Brown University, New York University (macro lunch), UC Santa Barbara.
2017: Tel Aviv University, MIT, Pennsylvania State University, Einaudi Institute for Economics and Finance.
2016: Ohio State University, Columbia University, New York University (theory), Carnegie Mellon University, FRB Minneapolis, University of Western Ontario, Bank of Canada, UC San Diego, UW Madison.
2015: University of Michigan, University College of London, UC Berkeley, Simon Fraser University, University of British Columbia, CREI, London School of Economics, Universita’ Bocconi, Einaudi Institute for Economics and Finance.
2014: Federal Reserve Board, FRB Richmond, UW Madison, New York University, FRB New York, University of Chicago Booth.
2013: University of Toronto, University of Waterloo, UC Los Angeles, University of Cologne, Free University of Amsterdam, University of Chicago Booth, Stanford University, University of Turin, Einaudi Institute of Economics and Finance.
2012: Georgetown University, FRB Saint Louis, UC Davis, Essex University, Vanderbilt University, Northwestern University, Pennsylvania State University, Princeton University Macro Lunch, UC Los Angeles, Einaudi Institute for Economics and Finance.
2011: Sciences Po, Washington University in Saint Louis, FRB Kansas City, UW Madison, University of British Columbia, Einaudi Institute for Economics and Finance.
2010: Yale University, Duke University, FRB Richmond, Boston University, University of Rochester, Universitat Autonoma de Barcelona, European University Institute, University of Southampton.
2009: Aarhus University, Free University of Amsterdam, Columbia University, FRB Atlanta, New York University, University of Western Ontario.
2008: Duke University, UW Madison, FRB Minneapolis, FRB Chicago, Pennsylvania State University, FRB Philadelphia, Georgetown University.
2007: University of Michigan, Stanford University, Hoover Institution.
2006: University of Maryland, FRB Cleveland, University of Pennsylvania, University of Toronto.
2005: University of Turin, University of Oslo, Stanford University, University of Pennsylvania, UC Los Angeles, FRB Saint Louis.
2004: Princeton University, Carnegie-Mellon, UT Austin, University of Pennsylvania, University of Chicago, IIES, London School of Economics, University of Minnesota, UC San Diego, University of Chicago GSB, Northwestern University.
Conference Presentations:
2025: SED Copenhagen, NBER Summer Institute (EFMB), NBER Summer Institute (EFMM).
2024: Barcelona Summer Forum (MFMF), Barcelona Summer Forum (MLM), SED Barcelona, SED Winter Meeting Buenos Aires.
2023: SITE Workshop on Labor Market Policy at Stanford, Search and Matching Workshop at NYU.
2022: Macroeconomic Dynamics Workshop at LUISS, NBER Summer Institute (EFMB).
2021: NBER Summer Institute (EFMPL), Minnesota Macro Workshop, Annual Meeting of the European Economic Association, LEAF Workshop on Labor Markets.
2020: Covid-19 Workshop at Aarhus University.
2019: Conference in Honor of Ken Burdett at University of Wisconsin Madison, Covid-19 Search and Matching Workshop (virtual).
2018: NBER Winter Meeting (EFG), Europe Search and Matching Conference in Oslo, Technology Diffusion and Productivity Workshop at the Richmond FRB.
2017: Markets with Frictions at Aarhus University, Search and Matching Workshop at the University of Chile, Macro Conference at the University of Toronto, Northwestern Macro Alumni Conference, NBER Summer Institute (EFMB), NBER Summer Institute (EFMPL), Minnesota Macro Workshop.
2016: NYU Search and Matching Workshop.
2015: NBER Winter Meeting (EFG), Northwestern Macro Alumni Conference, Frontiers of Macroeconomics at Queen’s University, Conference on Liquidity, Market Frictions and the Economy at the Banque de France, SED Toulouse, NBER Summer Institute (EFMPL).
2014: Search and Matching Workshop at the Philadelphia FRB, Wharton Conference on Liquidity and Financial Crises, Macro Dynamics Conference at EIEF, Cornell-PSU Macro Conference, ENSAI Economic Day “On Labor Market Instability,” NBER Summer Institute (EFGHJ), NBER Summer Institute (IO).
2013: Search and Matching Workshop at the Philadelphia FRB, Conference on Goods Markets, the Macroeconomy and Policy at Sciences Po, SED Toronto, NBER Summer Institute (RSW).
2012: ASSA San Diego, NBER Winter Meeting (EFG), Northwestern Alumni Macro Conference at the Chicago FRB, Penn/Philly FED Macro Conference, NBER Summer Institute (EFGHJ).
2011: Conference on Unemployment and the Life Cycle at CEPREMAP, NBER Winter Meeting (EFG), Conference on Policy and Frictions at Tinbergen Institute, ASSA Chicago, Search and Matching Workshop at the Philadelphia FRB, NBER Summer Institute (EFG), NBER Summer Institute (RSW).
2010: Saint Louis FRB Economic Policy Conference, Conference in honor of Dale Mortensen at Northwestern University, NBER Summer Institute (RSW).
2009: Texas Monetary Conference at UT Austin, ASSA Atlanta, NBER Summer Institute (EFGHJ), NBER Summer Institute (RSW), Minnesota Macro Conference.
2008: Research on Money and Markets Workshop at the University of Toronto, NBER Small Group Meeting (RSW), Search and Matching Conference at the University of Pennsylvania, SED Istanbul, Tsinghua University Conference on Macroeconomics.
2007: ASSA New Orleans, Philadelphia FED Conference on Monetary and Macro Economics, SED Cambridge, NBER Summer Institute (RSW).
2006: Philadelphia FED Conference on Monetary and Macro Economics, NBER Small Group Meeting (RSW), SED Prague, NBER Summer Institute (RSW), NBER Summer Institute (EFG), NBER Summer Institute (EFCE), Minnesota Macro Conference.
2005: Search and Matching Workshop at the University of Pennsylvania, SED Vancouver, NBER Summer Institute (RSW).
2004: Labor Market Models at Aarhus University, ESWC 2005 at UCL, NBER Summer Institute (RSW).
Conference Organization:
2014-: Co-organizer, National Bureau of Economic Research, Labor Market Perspectives Group.
2018-: Co-organizer, NYU, Search and Matching Workshop.
2024: Program Committee, Econometric Society, North American Meeting.
2021: Session organizer, European Economic Association, Annual Meeting.
2018: Co-organizer, Princeton University, Theoretical Advances in Search Theory.
2009-2018: Co-organizer, University of Pennsylvania, Search and Matching Workshop.
2005-2018: Co-organizer, University of Pennsylvania, Money and Macroeconomic Seminar.
2017: Co-organizer, Minnesota Macro Workshop.
2016: Co-organizer, National Bureau of Economic Research, EFG Fall Meeting.
2015: Program Committee, Econometric Society, North American Meeting.
2014: Program Committee, Econometric Society, World Congress.
2007-2012: Scientific Committee, Society for Economic Dynamics.
Teaching Experience:
Lecturer: New York University, Macro Perspectives on Labor Markets (graduate), 2019-.
Lecturer: New York University, Markets with Frictions (undergraduate), 2018-.
Lecturer: Tel Aviv University, Labor Search (graduate), 2022.
Lecturer: University of Pennsylvania, Macroeconomics (graduate), 2015-2018.
Lecturer: University of Pennsylvania, Topics in Macro (graduate), 2006, 2011, 2014.
Lecturer: University of Pennsylvania, Labor Economics (graduate), 2010, 2013-2017.
Lecturer: UCLA, Mini Course on Search Theory (graduate), 2013.
Lecturer: Princeton University, Advanced Macro Theory I (graduate), 2012.
Lecturer: EIEF, Random and Directed Search (summer school), 2012.
Lecturer: University of Pennsylvania, Markets with Frictions (undergrad), 2010-2015.
Lecturer: University of Pennsylvania, Intermediate Macro (undergrad), 2006-2009, 2014.
Advising:
Cesar Zambrano* (2024), Gabriel Toledo (2024), Eungik Lee* (2023, University of Indiana Bloomington), Guillaume Nevo* (2023, Uppsala University), Jed Armstrong* (2022, Private sector), Omer Koru (2021, Penn State post-doc), Paolo Martellini* (2020, FRB Minneapolis post-doc, University of Wisconsin Madison), Victoria Gregory* (2020, FRB Saint Louis), Nikhil Vellodi (2019, Princeton University post-doc, Paris School of Economics), Mateusz Giezek (2019, Private sector), Tim Hursey* (2019, Private sector), Jan Tilly (2017, Private sector), Chunzan Wu (2016, University of Miami), Jean Flemming* (2016, Oxford University post-doc, Federal Reserve Board), Yasser Boualam (2015, University of North Carolina, Chapel Hill), Garth Baughman (2015, Federal Reserve Board), Serena Rhee (2014, University of Hawaii), Naijia Guo (2014, Chinese University of Hong Kong), Fei Li (2013, University of North Carolina, Chapel Hill), Andrew Clausen (2013, University of Edinburgh), Aaron Hedlund* (2012, University of Missouri), Fatih Karahan (2012, FRB New York), Liang Wang (2011, University of Hawaii), Ludo Visschers (2009, University of Edinburgh), Rafael Silveira (2007, Private sector).
External Examiner:
Pranav Mimani (2024, European University Institute), Lukas Freund (2023, University of Cambridge), Lucas Nord (2022, European University Institute), Krzysztof Pytka (2018, European University Institute).
Refereeing:
American Economic Review, American Economic Review: Insights, American Economic Journal: Macroeconomics, B.E. Journal of Macroeconomics, Canadian Journal of Economics, Econometrica, Economic Journal, Economic Theory, European Economic Review, Israeli National Science Foundation, Journal of Economic Dynamics and Control, Journal of Economic Literature, Journal of Economic Theory, Journal of the European Economic Association, Journal of Labor Economics, Journal of Monetary Economics, Journal of Political Economy, Journal of Public Economics, International Economic Review, Labor Economics, National Science Foundation, Review of Economic Dynamics, Review of Economic Studies.