Matteo Maggiori

Biography

Matteo Maggiori is the Moghadam Family Professor of Finance at the Stanford Graduate School of Business.

His research focuses on international macroeconomics and finance.  He is a co-founder and director of the Global Capital Allocation Project. His research topics have included the analysis of exchange rates under imperfect capital markets, capital flows, the international monetary system, reserve currencies, geoeconomics, tax havens, very long-run discount rates and climate change, and expectations and portfolio investment. His research combines theory and data with the aim of improving international economic policy. 

He is a faculty research fellow at the National Bureau of Economic Research and a research affiliate at the Center for Economic Policy Research.

Among a number of honors, he is the recipient of the Fischer Black Prize awarded to an outstanding financial economist under the age of 40, the Carnegie and Guggenheim fellowships, and the Bernacer Prize for outstanding contributions in macroeconomics and finance by a European economist under age 40.

Interviews

Publications (Selected)

Global Imbalances and Power Imbalances, 2026, with Christopher Clayton and Jesse Schreger In preparation for the 2026 AEA Papers & Proceedings.

Investor Beliefs and Expectation Formation, with Stefano Giglio, Joachim Rillo, Johannes Stroebel, Stephen Utkus, Xiao Xu, In preparation for the Annual Review of Financial Economics, 2025.

A Framework for Geoeconomics, 2025, with Christopher Clayton and Jesse Schreger Best Paper Award in Geoeconomics, for junior researchers, CEPR-Kiel-Bocconi, 2024 Forthcoming at Econometrica.

Putting Economics Back into Geoeconomics, 2025, with Christopher Clayton and Jesse Schreger, in preparation for the 2025 NBER Annual Conference on Macroeconomics.

Internationalizing Like China, with Christopher Clayton, Amanda Dos Santos, and Jesse Schreger, American Economic Review, 2025, Vol 115, 3, pg 864-902.

Four Facts About ESG Beliefs and Portfolios, with Stefano Giglio, Johannes Stroebel, Zhenhao Tan, Stephen Utkus, Xiao Xu, Journal of Financial Economics, 2025, Vol 164. Moskowitz Prize, Honorable Mention, 2023

The Political Economy of Geoeconomic Power, with Christopher Clayton and Jesse Schreger, AEA Papers and Proceedings, 2025, Vol. 115, pg 588-592.

Corporate Debt Structure and International Currency Bias, with Brent Neiman and Jesse Schreger, IMF Economic Review, prepared for the conference in honor of Ken Rogoff, 2024, pg 1-24.

Global Capital Allocation, with Sergio Florez-Orrego, Matteo Maggiori, Jesse Schreger, Ziwen Sun, Serdil Tinda, Annual Review of Economics, 2024, 16.

China in Tax Havens, with Christopher Clayton, Antonio Coppola, Amanda Dos Santos, and Jesse Schreger, AEA Papers and Proceedings, 2023, Vol. 113, pg 114-19.

Education

Ph.D. Finance, University of California at Berkeley

M.Sc. Economics and Finance, Warwick University, 2004-05

B.Sc. (laurea triennale) in Economics, Luiss Guido Carli

Positions

Moghadam Family Professor of Finance, Stanford Graduate School of Business (2022 - Present)

Founding Co-Director, Global Capital Allocation Project (2019 - Present)

Fields

Economics

Finance

Topics

Geoeconomic Power

International Reserve Currencies

Exchange Rates Under Imperfect Capital Markets

International Capital Flows

The International Monetary System

Tax Havens

Very Long-Run Discount Rates & Climate Change

Expectations & Portfolio Investment