Lucrezia Reichlin
Full Professor of Economics,
London Business School.
Chairman and co-founder,
Now-Casting Economics limited. Non executive director,
AGEAS Insurance Group,
Messaggerie Italiane Group. Trustee of
International Financial Reporting Standards, and
Centre for Economic Policy Research. Board Member,
Morgan Stanley International and German subsidiaries.
Columnist, Corriere della Sera and Project Syndicate.
Fellow, Econometric Society, British Academy, European Economic Association, Centre for Economic Policy Research, Academia Europaea.
Birgit Grodal Award, European Economic Association, 2016. Isaac Kerstenetzky Scholarly Achievement Award, 2016
Lucrezia Reichlin
Professor of Economics
London Business School
Regent's Park
London, NW1 4SA
United Kingdom
Phone:
+44 (0)20 7000 8435
Email:
lreichlin@london.edu
Research Focus
My research is in applied time series, business cycle and monetary policy. I have pioneered, with several co-authors, econometric methods for analysing a large number of time series: dynamic factor models, shrinkage methods, Bayesian vector auto-regressions (see Research section on this page). Later on I have used some of these ideas to develop a framework for Now-Casting.
My work on monetary policy has focused on documenting monetary analysis at the European Central Bank and, more recently, on understanding the effect of its policies during the crisis. I am also working on the interaction between monetary policy and banks’ behaviour.
What is Now-Casting?
Now-casting is defined as the prediction of the present, the very near future and the very recent past. More broadly we can define it as the exercise of reading, through the lenses of a model, the flow of data releases in real time. The term is a contraction for now and forecasting and has been used for a long-time in meteorology. The first paper which used this term in economics and provided a methodology to implement it is Giannone, Reichlin, and Small, 2008.