Luigi Guiso



AXA Professor of Household Finance, Einaudi Institute for Economics and Finance (EIEF)
Fellow, Centre for Economic Policy Research (CEPR)


London School of Economics and Political Science, Msc, 1980
University of Essex, Mphil, 1982


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Research Interests

Household Financial and Savings Choices, Preference Measurement and Formation, Culture and Economics, Macroeconomics and Finance.

Invited Lectures

“Processo agli Economisti (e all’Economia) - La Difesa”, presentation by Luigi Guiso, Festival dell’Economia 2009, Trento

Robert A. Mundell Distinguished Address, 67th International Atlantic Economic Society - Rome, March 12, 2009 ”Social Capital as Culture” (with Paola Sapienza and Luigi Zingales)

Luigi Guiso’s Marshall Lecture at the 2007 EEA Meeting in Budapest, Journal of the European Economic Association, 2008 (amont the 25 most popular working papers or journal articles on RePEc) Marshall Lecture, European Economic Association, Budapest, August 2007

Selected Publications

“Cultural Biases in Economic Exchange?” (with Paola Sapienza e Luigi Zingales), Quarterly Journal of Economics, 2009

“Culture, Gender and Math” (with Fernando Monte, Paola Sapienza and Luigi Zingales), Science, 2008

“Trusting the stock market” (with Paola Sapienza and Luigi Zingales), Journal of Finance, Dec 2008, leading article

“Risk Aversion, Wealth and Background Risk” (with Monica Paiella), Journal of the European Economic Association, December 2008, pp.1109-1150, leading article

“Spillovers in Industrial Districs” (with Fabiano Schivardi), Economic Journal, 2007, 117, pp.68-93

“Does Culture Affect Economic Outcomes?” (with Paola Sapienza and Luigi Zingales), The Journal of Economic Perspectives, Spring 2006, Vol. 20(2), pp. 23-48

“Insurance within the Firm” (with Luigi Pistaferri and Fabiano Schivardi), Journal of Political Economy, 2005

“Uncertainty and Dynamic Durable Adjustment” (with Giuseppe Bertola and Luigi Pistaferri), The Review of Economic Studies, 2005

“Awareness and stock market participation” (with Tullio Jappelli), Review of Finance, 2005

“Does Local Financial Development Matter?” (with Paola Sapienza and Luigi Zingales), Quarterly Journal of Economics, 2004, 119 (3), pp.929-69

“The Role of Social Capital in Financial Development” (with Paola Sapienza and Luigi Zingales), The American Economic Review, 2004, 94 (3), pp. 526-556

“The Demand for Money, Financial Innovation and the Welfare Cost of Inflation: An Analysis with Household Data” (with Orazio Attanasio and Tullio Jappelli), Journal of Political Economy, 10, 2002

Honors, Awards and Fellowships

Winner of the Smith Breeden Prize as “Distinguished Paper” for “Trusting the Stock Market” (joint with Paola Sapienza, and Luigi Zingales), 2009
Marshall Lecture on “Social Capital as Culture” at the European Economic Association, 2007
Winner of the 2002 World Financial Association “Nasdaq Award” for the best paper on capital formation: “The Real Effects of Local Financial Development”


Phone : 0039 06 4792.4858
Fax : 0039 06 4792.4872
E-mail: luigi.guiso[at]