Matteo Deleidi

Matteo Deleidi is a Research Associate at the UCL Institute for Innovation and Public Purpose (IIPP).

Matteo Deleidi

Matteo Deleidi is a BE-FOR-ERC Research Fellow in Macroeconomics at Sapienza University of Rome and a Research Associate at the Institute for Innovation and Public Purpose (IIPP). Currently, he is researching the macroeconomic implications of mission-oriented innovation policies.

Before joining Sapienza University of Rome, Matteo was a Research Fellow at Parthenope University of Naples and at Roma Tre University, where he obtained his PhD in Political Economy in May 2016 under the supervision of Professor Antonella Stirati. As a postgraduate student, he was a Visiting Researcher at Leeds University Business School, University of Leeds, where he worked under the supervision of Professor Giuseppe Fontana.

Research summary

Matteo’s research activity focusses on macroeconomics, monetary economics, and theory of growth, both from a theoretical and an empirical standpoint.

Matteo is now co-leading the research area “Money, credit and the macroeconomy”, and he is the Co-Principal Investigator of the project entitled “The macroeconomic implications of innovation policy”. The project is developed in collaboration with Centro di Ricerche e Documentazione “Piero Sraffa” at Roma Tre University and IIPP.

Since the beginning of his PhD, Matteo has been involved in several research projects aimed at assessing: the effectiveness of monetary policy carried out by advanced countries in affecting aggregate demand, prices, external competitiveness and the long-term interest rates; the impact of government expenditure on GDP growth; the money creation process in several advanced countries; the effectiveness of several fiscal and monetary policies in stimulating private investment renewables; and the determinants of technical progress and innovation both at the national and regional level.

Matteo’s research has been awarded several prizes, like the Young Scholar STOREP 2020 Award, the “Pierangelo Garegnani” Thesis Prize 2016, the Best Paper Award at the 4th European Conference on Banking and the Economy (ECOBATE 2016), and the Best Young Scholars’ Paper Award on “The youth in a changing labour market”, jointly granted by the Italian Ministry of Labour and Social Policy and the Associazione Studi e Ricerche Interdisciplinari sul Lavoro (ASTRIL).

Selected publications

  • Deleidi, M., & Mazzucato, M. (2021). Directed innovation policies and the supermultiplier: An empirical assessment of mission-oriented policies in the US economy. Research Policy, 50(2), 104151, https://doi.org/10.1016/j.respol.2020.104151
  • Deleidi, M., Paternesi Meloni, W., Salvati, L. & Tosi, F., (2021). Output, investment, and productivity: The Italian North-South regional divide from a Kaldor-Verdoorn approach. Regional Studies, https://doi.org/10.1080/00343404.2021.1896694
  • Deleidi, M., & Levrero, E. S. (2021). Monetary policy and long-term interest rates: evidence from the US economy. Metroeconomica, 72(1), 121-147, https://doi.org/10.1111/meca.12313
  • Deleidi, M., Romaniello, D., & Tosi, F., (2021). Fiscal Multipliers in Italy: Evidence from Regional Data. Vita e Pensiero, Quaderno n. 149, ISBN 978-88-343-4500-9
  • Deleidi, M., & Levrero, E. S. (2020). The price puzzle and the hysteresis hypothesis: SVEC analysis for the US economy. Review of Political Economy, 32(1), 22-29, https://doi.org/10.1080/09538259.2020.1759244
  • Deleidi, M., Mazzucato, M., & Semieniuk, G., (2020). Neither crowding in nor out: Public direct investment mobilising private investment into renewable electricity projects. Energy Policy, 140, 111195, https://doi.org/10.1016/j.enpol.2019.111195
  • Antenucci, F., Deleidi, M., & Paternesi Meloni, W. (2020). Kaldor 3.0: an empirical investigation of the Verdoorn-augmented technical progress function. Review of Political Economy, 32(1), 49-76, https://doi.org/10.1080/09538259.2020.1744936
  • Carnevali, E., Deleidi, M., Pariboni, R., & Veronese Passarella, M., (2020). Cross-Border Financial Flows and Global Warming in a Two-Area Ecological SFC Model. Socio-Economic Planning Sciences, 100819, https://doi.org/10.1016/j.seps.2020.100819
  • Deleidi, M., Iafrate, F., & Levrero, E. S., (2020). Public Investment Fiscal Multipliers: An Empirical Assessment for European Countries. Structural Change and Economic Dynamics, 52(12), 354-365, https://doi.org/10.1016/j.strueco.2019.12.004
  • Deleidi, M., Paternesi Meloni, W., & Stirati, A., (2020). Tertiarisation, productivity and aggregate demand: evidence-based policies for European countries. Journal of Evolutionary Economics, 30, 1429–1465, https://doi.org/10.1007/s00191-019-00647-6
  • Deleidi, M., & Mazzucato, M. (2019). Putting austerity to bed: technical progress, aggregate demand and the supermultiplier, Review of Political Economy, 31(3), 315-335, https://doi.org/10.1080/09538259.2019.1687146 
  • Deleidi, M., (2019). Post-Keynesian endogenous money theory: Horizontalists, Structuralists, and the paradox of illiquidity. Metroeconomica, 71(1), 156-175, https://doi.org/10.1111/meca.12271
  • Deleidi, M., & Fontana, G. (2019). Money Creation in the Eurozone: An Empirical Assessment of the Endogenous and the Exogenous Money Theories. Review of Political Economy, 31(4), 559-581, https://doi.org/10.1080/09538259.2020.1737390
  • Deleidi, M., & Levrero, E. S. (2019). The money creation process: A theoretical and empirical analysis for the United States. Metroeconomica, 70(4), 552-586, https://doi.org/10.1111/meca.12238
  • Deleidi, M., (2019). Endogenous money theory: horizontalist, structuralist and the credit market. Bulletin of Political Economy, 13(1), 21-53
  • Deleidi, M., & Paternesi Meloni, W. (2019). Produttività e domanda aggregata: una verifica della legge di Kaldor-Verdoorn per l’economia italiana. Economia & Lavoro, (2/2019), https://doi.org/10.7384/94917; https://www.medra.org/servlet/MREngine?hdl=10.7384/94917#
  • Carnevali, E., Deleidi, M., Pariboni, R., & Veronese Passarella, M., (2019). Stock-Flow Consistent Dynamic Models: Features, Limitations and Developments. In Arestis, P., & Sawyer, M. (Eds). Frontiers of Heterodox Macroeconomics, International Papers in Political Economy, New York: Palgrave Macmillan, ISBN: 978-3-030-23928-2, https://doi.org/10.1007/978-3-030-23929-9_6
  • Ciaffi, G., Deleidi, M., & Levrero, E. S. (2019). I costi economici e sociali del Fiscal Compact. Economia e Politica. ISSN 2281-5260. Available at: https://www.economiaepolitica.it/2019-anno-11-n-17-sem-1/i-costi-economici-e-sociali-del-fiscal-compact/. 
  • Ciaffi, G., Deleidi, M., & Levrero, E. S. (2019). Una stima degli effetti macroeconomici del Fiscal Compact. Economia e Politica. ISSN 2281-5260. Available at: https://www.economiaepolitica.it/2019-anno-11-n-17-sem-1/fiscal-compact/
  • Deleidi, M. (2018). Post Keynesian endogenous money theory: A theoretical and empirical investigation of the credit demand schedule. Journal of Post Keynesian Economics, 41(2), 185-209. https://doi.org/10.1080/01603477.2017.1338967
  • Deleidi, M. (2016). Post Keynesian Endogenous money theory: theoretical issues and empirical evidence in the Eurozone (in Italian). PhD dissertation, Department of Economics, Roma Tre University

  • Carnevali, E., Deleidi, M., Pariboni, R., & Veronese Passarella, M., (2019). Supermultiplier, innovation and the ecosystem: A stock-flow dynamic model. IIPP WP 2019-01. 
  • Carnevali, E., & Deleidi, M., (2020) The Trade-off between Inflation and Unemployment in a ‘MMT world’: an open economy perspective. Levy Economics Institute, Working Paper No. 973, Available at: http://www.levyinstitute.org/publications/the-trade-off-between-inflation-and-unemployment-in-an-mmt-world-an-open-economy-perspective
  • Deleidi, M., & Mazzucato, M. (2020). Mission-oriented innovation policies and the supermultiplier: An empirical assessment for the US economy. Department of Economics, Roma Tre University. Working Paper n° 248 ISSN 2279-6916
  • Antenucci, F., Deleidi, M., & Paternesi Meloni, W. (2019). Demand and Supply-side Drivers of Labour Productivity Growth: an empirical assessment for G7 countries. ASTRIL WP n.42/2019, ISSN 2280–6229 Working Papers online
  • Deleidi, M., Paternesi Meloni, W., & Stirati, A., (2018). Structural change, labour productivity and the Kaldor-Verdoorn law: evidence from European countries. Working Paper n° 239, ISSN 2279-6916
  • Deleidi, M., Paternesi Meloni, W. (2014). Italian economic trends and labour market reforms: a 50-years overview. ASTRIL WP n.12/2014, ISSN 2280–6229 Working Papers online

  • Deleidi, M., & Mazzucato, M. (2018b). The effectiveness and impact of post-2008 UK monetary policy. UCL Institute for Innovation and Public Purpose, Policy Brief 03.
  • Deleidi, M., De Lipsis, V., Mazzucato, M. Collins, RJ., & Agnolucci, P., (2019). The macroeconomic impact of government innovation policies: A quantitative assessment. Innovate UK and IIPP policy report, WP 2019-06
  • Cerra, R., Crespi, F., Deleidi, M., Fanti, L., Guarascio, D., Iafrate, F., and Musso, C., (2019). Il ruolo dell’innovazione e dell’alta tecnologia in italia nel confronto con il contesto internazionale. Centro Economia Digitale, Comitato Leonardo, Report October 2019, Available at: https://www.centroeconomiadigitale.com/wp-content/uploads/2020/06/CED-REPORT-ALTA-TECNOLOGIA.pdf

  • Il ruolo dell’innovazione e dell’alta tecnologia in italia nel confronto con il contesto internazionale report cited by Sole24: https://www.ilsole24ore.com/art/ricerca-e-innovazione-far-crescere-paese-l-italia-spende-ancora-poco-ACdyZ11?refresh_ce=1
  • Ciaffi, G., Deleidi, M., & Levrero, E. S. (2019). Fiscal Compact, quali sono gli effetti macroeconomici. Il Fatto Quotidiano, available at: https://www.ilfattoquotidiano.it/2019/05/30/fiscal-compact-quali-sono-gli-effetti-macroeconomici/5206983/