Luigi Pistaferri is a Professor of Economics at Stanford University, a research fellow of NBER, CEPR and IZA, the "Ralph Landau" Senior Fellow at SIEPR, and one of the co-editors of the American Economic Review. His papers are on the intersection between labor economics and macroeconomics. Pistaferri holds a PhD in Economics from University College, London, and a Doctorate in Economic Sciences from IUN in Naples (Italy), where he was born in 1968. Pistaferri joined Stanford University in 1999 after finishing his PhD and has been a member of the faculty ever since, with the exception of one year sabbatical spent at EIEF in Rome.

Academic Appointments

Administrative Appointments

  • "Ralph Landau" Senior Fellow, SIEPR (2013 - Present)
  • Professor, Department of Economics, Stanford University (2011 - Present)
  • Bajola Parisani Visiting Chair in Economics and Institutions, Einaudi Institute for Economics and Finance, Rome (2011 - 2012)
  • Associate Professor, Department of Economics, Stanford University (2006 - 2011)
  • Assistant Professor, Department of Economics, Stanford University (1999 - 2006)
  • Research Economist, Institute for Fiscal Studies (1998 - 1999)

Honors & Awards

  • Excellence in Refereeing Award, American Economic Review (2012)
  • Nominated, Center for Advanced Study in the Behavioral Sciences fellowship, Center for Advanced Study in the Behavioral Sciences (2007)
  • Annual Economics Outstanding Teaching Prize, Stanford University, Department of Economics (2005)
  • "Glenn Campbell and Rita Ricardo-Campbell" National Fellow, Hoover Institution (2003)
  • Co-Winner of the Prize as 1999 Best Italian Young Economist sponsored, Italian Young Economist (1999)
  • James Lanner Memorial scholarship, University College London (1998)
  • Italian Ministry of Universities and Scientific Research (MURST) scholarship, Italian Ministry of Universities and Scientific Research (MURST) (1996)
  • Istituto Universitario Navale scholarship, Istituto Universitario Navale (1995)
  • Ente Einaudi/Bank of Italy scholarship, Ente Einaudi/Bank of Italy (1994)

Boards, Advisory Committees, Professional Organizations

  • Co-Editor, American Economic Review (2012 - Present)
  • Research Associate in Economic Fluctuations and Growth., National Bureau of Economic Research (NBER),
  • Research Affiliate in Labor Economics and Monetary Economics, Centre for Economic and Policy Research (CEPR)
  • Research Fellow, IZA
  • Senior Fellow, Stanford Institute for Economic Policy Research (SIEPR)
  • Faculty Affiliate, Stanford Center on Longevity
  • Associate Editor, Journal of Applied Econometric
  • Co-Editor, Review of Economic Dynamics
  • Panel Member, Economic Policy (2009 - 2011)
  • Member, Program Committee, Meeting of the Society of Labor Economics (2010 - 2011)
  • Member, Program Committee, European Economic Association Annual Congress (2003 - 2007)
  • Member, Program Committee, European Economic Association Annual Congress (2010 - 2013)
  • Member, Program Committee, Annual Meeting of the Society of Economic Dynamics (2005 - 2005)
  • Member, Program Committee, Annual Meeting of the Society of Economic Dynamics (2007 - 2007)

Professional Education

  • Doctorate, Istituto universitario navale (IUN), Economic Sciences (2001)
  • Ph.D., University College, London, Economic (1999)
  • Master, Bocconi University, Economics (1995)
  • B.A., Istituto universitario navale, International Trade and Foreign Exchange Markets (1993)

2018-19 Courses

All Publications

  • Children, Time Allocation, and Consumption Insurance JOURNAL OF POLITICAL ECONOMY Blundell, R., Pistaferri, L., Saporta-Eksten, I. 2018; 126: S73–S115

    View details for DOI 10.1086/698752

    View details for Web of Science ID 000445879400004

  • Portfolio Choices, Firm Shocks, and Uninsurable Wage Risk REVIEW OF ECONOMIC STUDIES Fagereng, A., Guiso, L., Pistaferri, L. 2018; 85 (1): 437–74
  • Heterogeneity in Returns to Wealth and the Measurement of Wealth Inequality AMERICAN ECONOMIC REVIEW Fagereng, A., Guiso, L., Malacrino, D., Pistaferri, L. 2016; 106 (5): 651-655
  • Consumption Inequality JOURNAL OF ECONOMIC PERSPECTIVES Attanasio, O. P., Pistaferri, L. 2016; 30 (2): 3-28

    View details for DOI 10.1257/jep.30.2.3

    View details for Web of Science ID 000378239600001

  • Consumption Inequality and Family Labor Supply AMERICAN ECONOMIC REVIEW Blundell, R., Pistaferri, L., Saporta-Eksten, I. 2016; 106 (2): 387-435
  • Disability Insurance and the Dynamics of the Incentive Insurance Trade-Off AMERICAN ECONOMIC REVIEW Low, H., Pistaferri, L. 2015; 105 (10): 2986-3029
  • Fiscal Policy and MPC Heterogeneity AMERICAN ECONOMIC JOURNAL-MACROECONOMICS Jappelli, T., Pistaferri, L. 2014; 6 (4): 107-136
  • Consumption Inequality over the Last Half Century: Some Evidence Using the New PSID Consumption Measure AMERICAN ECONOMIC REVIEW Attanasio, O., Pistaferri, L. 2014; 104 (5): 122-126
  • Credit within the Firm REVIEW OF ECONOMIC STUDIES Guiso, L., Pistaferri, L., Schivardi, F. 2013; 80 (1): 211-247
  • Disuguaglianza e consumo Rapporto sulla disuguaglianza in Italia Jappelli, T., Marino, I., Pistaferri, L. edited by Checchi, D. Il Mulino. 2012
  • Consumption and the great recession Analyses of the Great Recession Petev, I., Saporta, I., Pistaferri, L. edited by Grusky, D., Western, B., Wimer, C. Russel Sage Foundation 2. 2012
  • How much do educational outcomes matter in OECD countries? 52nd Panel Meeting of Economic Policy Hanushek, E. A., Woessmann, L. WILEY-BLACKWELL. 2011: 429-?
  • Financial Integration and Consumption Smoothing ECONOMIC JOURNAL Jappelli, T., Pistaferri, L. 2011; 121 (553): 678-706

    View details for DOI 10.1093/qje/qjr013

    View details for Web of Science ID 000292839400005

  • If you pay peanuts do you get monkeys? A cross-country analysis of teacher pay and pupil performance ECONOMIC POLICY Dolton, P., Marcenaro-Gutierrez, O. D., Pistaferri, L., Algan, Y. 2011: 5-55
  • Earnings, consumption and life cycle choices Handbook of Labor Economics Pistaferri, L., Meghir, C. edited by Ashenfelter, O., Cards, D. 2011: 774–854
  • Wage Risk and Employment Risk over the Life Cycle AMERICAN ECONOMIC REVIEW Low, H., Meghir, C., Pistaferri, L. 2010; 100 (4): 1432-1467
  • Disability, capacity for work and the business cycle: an international perspective ECONOMIC POLICY Benitez-Silva, H., Disney, R., Jimenez-Martin, S. 2010: 483-536
  • Does consumption inequality track income inequality in Italy? REVIEW OF ECONOMIC DYNAMICS Jappelli, T., Pistaferri, L. 2010; 13 (1): 133-153
  • The E¤ect of Employment Protection Legislation and Financial Market Imperfections on Investment: Evidence from a Firm-Level Panel of EU Countries Economic Policy Pistaferri, L. 2010; 61
  • Italians are late: Does it matter? Demography and the Economy Pistaferri, L. edited by Shoven, J. University of Chicago Press. 2010
  • The Consumption Response to Income Changes ANNUAL REVIEW OF ECONOMICS, VOL 2 Jappelli, T., Pistaferri, L. 2010; 2: 479-506
  • Cross-sectional facts for macroeconomists REVIEW OF ECONOMIC DYNAMICS Krueger, D., Perri, F., Pistaferri, L., Violante, G. L. 2010; 13 (1): 1-14
  • Asset Pricing Implications of Pareto Optimality with Private Information JOURNAL OF POLITICAL ECONOMY Kocherlakota, N., Pistaferri, L. 2009; 117 (3): 555-590
  • Disentangling Insurance and Information in Intertemporal Consumption Choices 121st Annual Meeting of the American-Economic-Association Kaufmann, K., Pistaferri, L. AMER ECONOMIC ASSOC. 2009: 387–92
  • Turbulence in Firms and Wages Carnegie- Rochester Conference Series on Public Policy Pistaferri, L. 2009; 56 (1): 134-46
  • The life-cycle hypothesis: An assessment of some recent evidence Rivista Italiana di Politica Economica Pistaferri, L. 2009; IV-VI: 35-65
  • Consumption Inequality and Partial Insurance AMERICAN ECONOMIC REVIEW Blundell, R., Pistaferri, L., Preston, I. 2008; 98 (5): 1887-1921
  • Inequality and real exchange rates 22nd Annual Congress of the European-Economic-Association/Econometric-Society-European Meeting Kocherlakota, N., Pistaferri, L. WILEY-BLACKWELL. 2008: 597–608
  • Health care quality, economic inequality, and precautionary saving HEALTH ECONOMICS Jappelli, T., Pistaferri, L., Weber, G. 2007; 16 (4): 327-346


    We argue that health care quality has an important impact on economic inequality and on saving behavior. We exploit district-wide variability in health care quality provided by the Italian universal public health system to identify the effect of quality on income inequality, health inequality and precautionary saving. We find that in lower quality districts there is greater income and health dispersion and higher precautionary saving. The analysis carries important insights for the ongoing debate about the validity of the life-cycle model and interesting policy implications for the design of health care systems.

    View details for DOI 10.1002/hec.1172

    View details for Web of Science ID 000245473400001

    View details for PubMedID 17009387

  • Household heterogeneity and real exchange rates ECONOMIC JOURNAL Kocherlakota, N. R., Pistaferri, L. 2007; 117 (519): C1-C25
  • Do people respond to tax incentives? An analysis of the Italian reform of the deductibility of home mortgage interests EUROPEAN ECONOMIC REVIEW Jappelli, T., Pistaferri, L. 2007; 51 (2): 247-271
  • Wages, employment, and capital in capitalist and worker-owned firms INDUSTRIAL & LABOR RELATIONS REVIEW Pencavel, J., Pistaferri, L., Schivardi, F. 2006; 60 (1): 23-44
  • Intertemporal choice and consumption mobility JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION Jappelli, T., Pistaferri, L. 2006; 4 (1): 75-115
  • Wage, employment and capital determination in capitalist and worker-owned firms Industrial and Labor Relations Review Pencavel, J., Schivardi, F., Pistaferri, L. 2006; 60 (1): 23-44
  • Insurance within the firm JOURNAL OF POLITICAL ECONOMY Guiso, L., Pistaferri, L., Schivardi, F. 2005; 113 (5): 1054-1087
  • Uncertainty and consumer durables adjustment REVIEW OF ECONOMIC STUDIES Bertola, G., Guiso, L., Pistaferri, L. 2005; 72 (4): 973-1007
  • Income variance dynamics and heterogeneity ECONOMETRICA Meghir, C., Pistaferri, L. 2004; 72 (1): 1-32
  • Tax incentives and the demand for life insurance: evidence from Italy JOURNAL OF PUBLIC ECONOMICS Jappelli, T., Pistaferri, L. 2003; 87 (7-8): 1779-1799
  • Anticipated and unanticipated wage changes, wage risk, and intertemporal labor supply JOURNAL OF LABOR ECONOMICS Pistaferri, L. 2003; 21 (3): 729-754
  • Income volatility and household consumption - The impact of food assistance programs Conference on Income Volatility and Implications for Food Assistance Programs Blundell, R., Pistaferri, L. UNIV WISCONSIN PRESS. 2003: 1032–1050
  • Tax incentives for household saving and borrowing Taxation of Financial Intermediation, Jappelli, T., Pistaferri, L., Honohan, P. Oxford University Press: Oxford,. 2003
  • An empirical analysis of earnings and employment risk JOURNAL OF BUSINESS & ECONOMIC STATISTICS Guiso, L., Jappelli, T., Pistaferri, L. 2002; 20 (2): 241-253
  • Superior information, income shocks, and the permanent income hypothesis REVIEW OF ECONOMICS AND STATISTICS Pistaferri, L. 2001; 83 (3): 465-476
  • Wage differences by gender: Evidence from recently graduated MBAs OXFORD BULLETIN OF ECONOMICS AND STATISTICS Graddy, K., Pistaferri, L. 2000; 62: 837-?
  • Using subjective income expectations to test for excess sensitivity of consumption to predicted income growth EUROPEAN ECONOMIC REVIEW Jappelli, T., Pistaferri, L. 2000; 44 (2): 337-358
  • Savings and Intertemporal Choice Pistaferri, L., Jappelli, T. Il Mulino: Bologna. 2000
  • The dynamics of household wealth accumulation in Italy Fiscal Studies Jappelli, T., Pistaferri, L. 2000; 21 (2): 269-95
  • Informal networks in the Italian labor market Giornale degli Economisti Pistaferri, L. 1999; 58 (3-4): 355-75