Pierangelo De Pace

Associate Dean of the College; Professor of Economics
  • Expertise


    Pierangelo De Pace’s research focuses on issues relating to business cycle synchronization, the leading properties of the term structure of interest rates for real economic activity, the dynamic behavior of nominal interest rates and interest rate spreads, and the statistical and cyclical characteristics of disaggregated international capital flows.

    Research Interests

    • Economics
    • Econometrics
    • Time Series Econometrics
    • Open Economy Macroeconomics
    • International Finance
    • Financial Economics

    Areas of Expertise


    • Empirical Macroeconomics and Finance
    • Econometrics
  • Work


    "Currency Union, Free-Trade Areas, and Business Cycle Synchronization". Macroeconomic Dynamics, Volume 17, Issue 3, pp. 646-680. April 2013.

    With Silvio Contessi and Johanna Francis, "The Cyclical Properties of Disaggregated Capital Flows". Journal of International Money and Finance, Volume 32, Issue C, pp. 528-555. February 2013.

    "Gross Domestic Product Growth Predictions through the Yield Spread. Time-Variation and Structural Breaks". International Journal of Finance and Economics, Volume 18, Issue 1, pp. 1-24 (Lead Article). January 2013.

    With Silvio Contessi, "The (Non-)Resiliency of Foreign Direct Investment in the United States during the 2007-2009 Financial Crisis". Pacific Economic Review, Volume 17, Issue 3, pp. 368-390 (Lead Article). August 2012.

    With Silvio Contessi and Johanna Francis, "Changes in the Second-Moment Properties of Disaggregated Capital Flows," Economics Letters, Volume 115, Issue 1, pp. 122-127. April 2012.

    With Silvio Contessi, “Do European Capital Flows Comove?” North American Journal of Finance, Volume 20, Issue 2, pp. 145-161. August 2009.

    With Carlo Altomonte, “An Enlarged Economic and Monetary Union: Effects and Policy Implications,” in The Economics of EU Enlargement (F. Praussello, ed., Edizioni Franco Angeli, 2009).

  • Education


    2009 Ph.D. in Economics
    Johns Hopkins University

    2005, Master of Arts in Economics
    Johns Hopkins University

    2003 Master of Science in Economics
    Bocconi University (Milan, Italy)

    2002, Bachelor of Arts in Economics
    Bocconi University (Milan, Italy)

    Professional Experience

    Lecturer: Washington University in St. Louis, Department of Economics - 08/27 to 12/19/2012; Johns Hopkins University, Department of Economics - Summer 2006, Summer 2007.

    Visiting Scholar: Federal Reserve Bank of St. Louis, Research Division - 07/29 to 08/02/2013, 08/27 to 12/14/2012, 06/04 to 06/08/2012, and 06/05 to 06/13/2011; International Food Policy Research Institute (IFPRI) - 06/17 to 06/21/2013; University of Milano-Bicocca, Department of Economics - 03/11 to 06/07/2013.

    Dissertation Intern: Board of Governors of the Federal Reserve System, International Finance Division - 09/08 to 12/19/2008; Federal Reserve Bank of St. Louis, Research Division - 07/01 to 09/07/2007.

    Research Assistant: Johns Hopkins University, to H. Peyton Young - 08/2005 to 07/2007; Johns Hopkins University, to Tiemen Woutersen - 08/2005 to 10/2006.

    Teaching Assistant: Johns Hopkins University - 08/2004 to 05/2009.

    Recent Courses Taught

    • Advanced Econometrics
    • Econometrics
    • Economic Statistics
    • Macroeconomics: Principles
  • Awards & Honors

    Awards & Honors

    Bocconi University; Gold Medal for best grade on graduation, 2003; Fondazione Romeo ed Enrica Invernizzi Fellowship, 2002

    Fausto Vicarelli Association (Salerno, Italy), 15th Fausto Vicarelli Prize for best dissertation on topics regarding economics and economic policy, 2003

    BAK Prize 2003 for the best dissertation in applied quantitative economics, BAK Basel Economics, Basel (Switzerland), 2003