Andrea CIVELLI

Andrea CIVELLI

  • Associate Professor Economics, Economics
  • Ph.D. in Economics, Princeton University
  • M.A. in Economics, Princeton University
  • B.A. in Economics, Booconi University

Teaching Interests

Macroeconomics, Monetary Economics, International Macroeconomics, Financial Economics.

Research Interests

Empirical Macroeconomics, Monetary Economics and Banking, International and Development Macroeconomics.

Consulting/Practice Interests

Blockchain, Crypto and Digital Currencies, Central Banking, Central Bank Digital Currencies.

Bio

Andrea Civelli is an Associate Professor at the Department of Economics of Bentley University. 

Andrea received a Ph.D. in Economics from Princeton University in 2010. He is an empirical macroeconomist, who uses a variety of applied quantitative methods to tackle relevant economic questions. In his work, Andrea relies not only on more traditional macro-econometric time-series techniques, like VAR models, but also on cross-sectional, experimental, and spatial techniques to explore data and test economic theories with a multi-dimensional approach. 

His research interests include Empirical Macroeconomics, Monetary Economics and Banking, International and Development Macro. Examples of the topics he has studied include the transmission of monetary and uncertainty shocks through the business loan market, the international dynamics of inflation, the effects of international aid on regional growth, the relation between urban sprawling and social capital, methods to measure economic activity. His research has been published in a wide range of academic outlets in the fields of Economics and Finance, including the Review of Economics and Statistics, the Economic Journal, the Journal of Financial and Quantitative Analysis, the Journal of Development, the Review of Economic Dynamics.

Before joining Bentley, Andrea was an Associate Professor at the Sam Walton College of Business at University of Arkansas, and a visiting Professor at UT Austin and NC State University. He also worked as a Senior Economist for Algorand, a Boston-based blockchain company.

Scholarly Contributions and Creative Productions

Journal Articles

  • CIVELLI, A., Young, L. (2025). Cryptocurrencies, Stocks, and Economic Policy Uncertainty.. The North American Journal of Economics and Finance, (78)
  • Civelli, A., Gaduh, A., Yousuf, A. S. (2024). Measuring Economic Growth with a Fully Identified Three-Signal Model. Review of Economics and Statistics 1--30.
  • Civelli, A., Gaduh, A., Rothenberg, A., Wang, Y. (2023). Urban Sprawl and Social Sapital: Evidence from Indonesian Cities. Economic Journal, (133) 654 2110--2146. (Link)
  • Civelli, A., Deck, C., Tutino, A. (2022). Attention and choices with multiple states and actions: A laboratory experiment. Journal of Economic Behavior & Organization, (199) 86--102.
  • Barraza, S., Civelli, A. (2020). Economic policy uncertainty and the supply of business loans. Journal of Banking & Finance, (121) 105983.
  • Barraza, S., Civelli, A., Zaniboni, N. (2019). Business loans and the transmission of monetary policy. Journal of Financial and Quantitative Analysis, (54) 2 925--965.
  • Civelli, A., Horowitz, A., Teixeira, A. (2018). Foreign aid and growth: A Sp P-VAR analysis using satellite sub-national data for Uganda. Journal of Development Economics, (134) 50--67.
  • Civelli, A., Deck, C. (2018). A flexible and customizable method for assessing cognitive abilities. Review of Behavioral Economics, (5) 2 123--147.
  • Civelli, A. (2016). Excess Returns, Average Returns and the Adjustment Mechanism of the External Position of a Country. Review of International Economics, (24) 2 226--252.
  • Civelli, A., Horowitz, A. W., Teixeira, A. (2016). A signal of altruistic motivation for foreign aid. The BE Journal of Economic Analysis & Policy, (16) 4 20160024.
  • LeBlanc, J. D., Civelli, A., Deck, C., Bregu, K. (2016). State dependent price setting rules under implicit thresholds: An experiment. Journal of Economic Dynamics and Control, (68) 17--44.
  • Ahmad, S., Civelli, A. (2016). Globalization and inflation: A threshold investigation. Journal of Macroeconomics, (48) Issue 283--304. (Link)
  • Bianchi, F., Civelli, A. (2015). Globalization and inflation: Evidence from a time-varying VAR. Review of Economic Dynamics, (18) 2 406--433.
  • Civelli, A., Zaniboni, N. (2014). Supply side inflation persistence. Economics Letters, (125) 2 191--194.
  • CIVELLI, A., Barraza, S. The effects of Institutional Loans on Corporate Decisions. Work in progress (In Progress)
  • Civelli, A., Gaduh, A., Quintana-Domeque, C., Zeng, J. Urban Sprawl and Obesity: Evidence from Indonesian Cities. Work in Progress (In Progress)

    • Book Chapters

  • CIVELLI, A., Georg, C., Grassano, P., Ihsanullah, N. (2023). Central Bank Digital Currency: Rationales, Design Considerations, and Implementation Using the Algorand Blockchain Technology The Role of Distributed Ledger Technology in Banking. Cambridge University Press

    • Service

    Service: Department

  • Organizer/Attendee for Bentley Applied Macro Workshop - Present