Marco Macchiavelli : Isenberg School of Management : UMass Amherst

Education

PhD in Economics, Boston College, 2015

MA in Economics, University of Bologna, 2010

BA in Economics and Finance, University of Bologna, 2008

Academic Appointments

Assistant Professor of Finance, UMass Amherst, 2022-present

Economist, Federal Reserve Board, 2015-2022

Research Interests

Money markets

Broker-dealers

Bond liquidity

Financial stability

Dispersed information

Intelligence/Espionage

Cybersecurity

Teaching Interests

Capital markets

Financial intermediaries

Awards

Outstanding Research Award, Isenberg School of Management, 2024

Macro-Financial Modeling Fellowship, Becker-Friedman Institute, 2014

Selected Publications

Crosignani, M., Macchiavelli, M., & Silva, A. F. (2023). Pirates without borders: The propagation of cyberattacks through firms’ supply chains. Journal of Financial Economics, 147(2), 432-448.

Li, L., Li, Y., Macchiavelli, M., & Zhou, X. (2021). Liquidity restrictions, runs, and central bank interventions: Evidence from money market funds. The Review of Financial Studies, 34(11), 5402-5437.

Macchiavelli, M., & Zhou, X. (2022). Funding liquidity and market liquidity: the broker-dealer perspective. Management Science, 68(5), 3379-3398.

Carlson, M., & Macchiavelli, M. (2020). Emergency loans and collateral upgrades: How broker-dealers used federal reserve credit during the 2008 financial crisis. Journal of Financial Economics, 137(3), 701-722.

De Marco, F., Macchiavelli, M., & Valchev, R. (2022). Beyond Home Bias: International Portfolio Holdings and Information Heterogeneity. The Review of Financial Studies, 35(9), 4387-4422.

Marco Macchiavelli