After graduating at the University of Rome, I moved soon to learn economics by doing research in a number of national and international institutions. Currently, I am Professor of Economics at the University of Siena, a member of the Policy & Economics Council of the Gerson Lehrman Group (New York), and a Fellow of the Euro Area Business Cycle Network (EABCN, Bruxelles). I was involved in building macroeconometric models   at the ISEL Institute in Rome (1979-85), headed by Ezio Tarantelli, and then at the Italian Treasury (1995-01) where I have been a field advisor. Between  1982-88 and 2004-5, I have been a member of the Executive Committee of the International Society for Inventory Research (ISIR, Budapest). In the US, I have been a Visiting Scholar at the NBER (1988), at UCLA (1992) and at the IMF Research Department (1995), working on fiscal issues. I have been teaching Macroeconomics and Applied Econometrics at the Wesleyan University (1989) and at the University of Wisconsin-Madison (1990).  During the Winter 2007,  I  have been teaching Business Cycle Analysis at the University of Paris12 ( Details ).