Francesco Febbraro
PhD Candidate in Economics, University of Groningen
I am a third-year PhD candidate in Economics at the University of Groningen. My research studies how banks, nonbanks, and asset managers transmit macro-financial shocks through credit provision to firms and portfolio allocation, using granular credit-register and fund-level holdings data.
I will join the Bank of England (Monetary Analysis) as a PhD research intern in summer 2026, working on global bond funds and safe-asset demand using fund-level holdings data from Banco de México. I previously spent six months in the Financial Stability department of the Deutsche Bundesbank, and I am a member of the ESCB ChaMP research network.
Research focus
Nonbank financial intermediation.
How insurers, funds, and other nonbanks lend, and how their balance sheets and regulation make them behave differently from banks.
Monetary policy transmission.
How policy and term-structure surprises pass through bank and nonbank credit supply to reach firms.
Macro-financial shocks and financial stability.
How geopolitical and financial shocks propagate through the credit system, and what they imply for stability.
News
- June 2026 Awarded a research grant from the Frankfurt Institute for Risk Management and Regulation (FIRM) for Banks, Nonbanks, and Geopolitical Shocks (co-recipient).
- July - October 2026 Joining the Bank of England (Monetary Analysis) as a PhD research intern.
Upcoming Presentations
- 2026 2026 CEBRA Annual Meeting (Copenhagen) · 15th MoFiR Workshop on Banking (Varese) · IFABS 2026 (London) · 19th RGS Doctoral Conference (Bochum)
Contact
Email
f.febbraro@rug.nl
Affiliation
Faculty of Economics and BusinessUniversity of Groningen, Netherlands
Links
CV ·
LinkedIn ·
University profile