Giovanni Ferri

Born at Siena in 1957, married and father of two daughters. Undergraduate degree in economics at University of Siena and Ph.D. in Economics (New York University), from November 2012 he is full professor of economics at the Department of Economics, Political Sciences and Modern Languages at the LUMSA University of Rome where he has chaired the Master Degree in Economics, management and business administration and, from October 2014, is Deputy Rector for Academic affairs, chairs the Quality Assurance Committee and the Library Committee.
From 1999 at the University of Bari Aldo Moro, he chaired the Department of Economics & Mathematics (2005–12), was deputy Rector for international relations (2009–12), introduced and chaired the first two editions of the Master in International Business and Economic Cooperation (2005-07).
Among the other professional experiences, he was at the World Bank (as Principal Financial Economist; 1998-99) and at the Research Department of the Banca d'Italia (up to deputy director; 1984-1998). He was visiting at: Hong Kong Monetary Authority (2007), Tokyo University (2004), Asian Development Bank Institute (Tokyo, 2002-03), Princeton University (1995-96), NBER (1990). He was Economic Policy Consultant at Italy’s Treasury (1999-2002) and Economic Consultant of the Italian Association among Popular Banks (2001-09). He is a founding member of the Think Tank at the European Association of Cooperative Banks (from 2008), and of the Board of Administrators and of the Scientific Committee of the International Research Center on Cooperative Finance at HEC Montreal (2015 – ). From 2011 to 2013 he was member of the Banking Stakeholder Group at the European Banking Authority. From November 2015, he is consultant on Banking Resolution for the Committee on Economic and Monetary Affairs of the European Parliament, as member of the Consortium founded for the purpose by LUMSA’s CERBE and Queen Mary University of London. He is associate/chief editor of: Economic Notes, Rivista Bancaria-Minerva Bancaria, Journal of Entrepreneurial and Organizational Diversity (www.jeodonline.com ). He was a member of the Scientific Committee of the Report on the financial system by the Fondazione Rosselli (2007-15) and was part of the Editorial Committee in economics of Il Mulino (from 2010 to 2015).
His research interests include: financial market imperfections and the transmission of the monetary/financial shocks (especially analysis of the credit crunch), banking structure, rating agencies, corporate governance, finance-growth links, migration, company internationalization, family business, the Chinese economy, sustainability.
He envisaged and contributed building the School of Saint Nicholas for Intercultural Dialogue (SNS), a laic non-profit institution aiming at empowering society with education, knowledge and problem solving towards sustainability, interdisciplinary and intercultural dialogue.
At LUMSA he co-founded and chairs the CeRBE (Center for Relationship Banking and Economics. Established in 2013, the CeRBE aims to developing avenues of research and training in order to better understand the importance of relational goods as a means to overcome a simple Laissex-faire approach. In particular, the Center conducts academic research, from both the empirical and theoretical points of view, on two main fields: Relationship Banking and Relationship Economics.

Systemic Solutions to Systemic Crises. Dealing with NPLs in the Eurozone

July 5, 2017 by Rym Ayadi, Giovanni Ferri and Rosa M. Lastra

We focus on the restructuring of troubled banks in the Eurozone. First, we review how legacy assets (mostly NPLs) were dealt in various countries (especially Japan, USA, Sweden and Spain), supporting a centralized solution in case of generalized banking crises. Second, drawing on the credit channel literature, we stress the need to differentiate between systemic and non-systemic events. Third, we theoretically advocate a systematic centralised Eurozone level approach to maintain fair recovery rates of restructuring banks’ NPLs. Our paper contributes to the lively debate on how to reinvigorate the EU banking system and thus avoid the related negative macroeconomic consequences.
This material was originally published in a paper provided at the request of the Committee on Economic and Monetary Affairs of the European Parliament and commissioned by the Directorate-General for Internal Policies of the Union and supervised by its Economic Governance Support Unit (EGOV). The opinions expressed in this document are the sole responsibility of the authors and do not necessarily represent the official position of the European Parliament. The original paper is available on the European Parliament’s webpage. © European Union, 2017