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Born in Trichina, near Belluno, on 7 June 1953. He graduated in Political Science from the University of Padua in 1977 then obtained an MA in business organization from Consorzio Universitario di Organizzazione Aziendale in Padua in 1978 and an MSc in Economics from the University of York (UK) in 1979.
He joined the Economic Research Department of the Bank of Italy in 1979, remaining there until 1994, when he was appointed Economic Advisor at the European Commission's Directorate General for Economic and Financial Affairs. In 1997 he returned to the Bank of Italy as head of the Public Finance Division of the Economic Research Department until 2007. From 1999 to 2007 he was chairman of the ESCB working party on public finance.
From 2007 to 2011 he was head of Structural Economic Analysis Department. In July 2011 he has became Managing Director for Economic Research and International Relations.He has represented the Bank on committees and in working parties at numerous international organizations and is also a member of study groups set up by the Ministry of Finance, the Treasury, the Prime Minister's Office and the National Statistics Institute.
From 2000 to 2003 he was a member of the governing council of Società Italiana di Economia Pubblica. He has lectured at the universities of Bergamo and Trieste, the Università Cattolica of Milan and the Scuola Superiore della Pubblica Amministrazione.
He has written books on public spending, social safeguards and European fiscal rules, as well as essays on budget policy, fiscal federalism, generational accounting, taxation of financial assets and income distribution.
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