Born in 1936. After graduating in Economics in 1960 he continued his studies at the Massachusetts Institute of Technology. He was assistant professor of Demographics at the Faculty of Economics of Rome University (La Sapienza) and Economic Consultant to the Economic Research Department of the Bank of Italy, which he joined as a staff economist in 1966. He was Head of the Department from 1973 until 1979.
In 1980 he was appointed Central Manager for Economic Research and in 1982 Deputy Director General.
He held the post of Governor from May 1993 to December 2005.
