Marco Garofalo
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marcogarofalo.bsky.social
Marco Garofalo
@marcogarofalo.bsky.social
98 followers 120 following 23 posts
Senior economist @bankofengland PhD student @OxfordEconDept @UniofOxford ⚽️ Long-suffering AS Roma fan 🇮🇹🇳🇱🇪🇺🇬🇧 RTs ≠ endorsements, any views my own.
Website: https://sites.google.com/view/marco-garofalo/home
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marcogarofalo.bsky.social
Marco Garofalo @marcogarofalo.bsky.social · Apr 15
📣📣📣 New paper out 📣📣📣
With Giovanni Rosso and Roger Vicquery, we study the interplay between financial sanctions and dollar dominance focusing on how post-2014 international lending to Russia de-dollarized ($⬇) in favour of a euroization (€⬆️) ora.ox.ac.uk/objects/uuid...
🧵👇[1/10]

#EconSky
marcogarofalo.bsky.social
Given today’s news on US sanctions, thought to repost this 👇🏻
New improved draft coming soon!
marcogarofalo.bsky.social Marco Garofalo @marcogarofalo.bsky.social · Apr 15
📣📣📣 New paper out 📣📣📣
With Giovanni Rosso and Roger Vicquery, we study the interplay between financial sanctions and dollar dominance focusing on how post-2014 international lending to Russia de-dollarized ($⬇) in favour of a euroization (€⬆️) ora.ox.ac.uk/objects/uuid...
🧵👇[1/10]

#EconSky
October 23, 2025 at 9:41 AM
marcogarofalo.bsky.social
Phenomenal #NBUNBPconference25 at National Bank of Ukraine. Presented our work on financial sanctions and USD dominance, focusing on how post-2014 international lending to Russia de-dollarized ($⬇) in favour of a euroization (€⬆️)
events.bank.gov.ua/ARConference...
Research Conference 2025
Research Conference NBU
events.bank.gov.ua
June 21, 2025 at 9:45 AM
Reposted by Marco Garofalo
katjabego.bsky.social
On increasing the NATO spending norm to 5%: “Spending more is not about pleasing an audience of one, it is about protection a billion people.”

Mark Rutte at @chathamhouse.org
June 9, 2025 at 2:57 PM
Reposted by Marco Garofalo
chathamhouse.org
Ukraine’s Operation Spider’s Web will enter the history books as one of the most remarkable and best-executed covert operations of the war, writes @katjabego.bsky.social.
Ukraine’s Operation Spider’s Web is a game-changer for modern drone warfare. NATO should pay attention
The use of cheap drones to strike targets deep within Russia provides a blueprint for rapidly evolving modern warfare that should inform how states seek to defend themselves.
www.chathamhouse.org
June 6, 2025 at 1:20 PM
Reposted by Marco Garofalo
danielmcdowell.bsky.social
Fascinating new work linking financial sanctions to the dollar's use in Russia.
marcogarofalo.bsky.social Marco Garofalo @marcogarofalo.bsky.social · Apr 15
📣📣📣 New paper out 📣📣📣
With Giovanni Rosso and Roger Vicquery, we study the interplay between financial sanctions and dollar dominance focusing on how post-2014 international lending to Russia de-dollarized ($⬇) in favour of a euroization (€⬆️) ora.ox.ac.uk/objects/uuid...
🧵👇[1/10]

#EconSky
April 15, 2025 at 6:09 PM
Reposted by Marco Garofalo
marcogarofalo.bsky.social
📣📣📣 New paper out 📣📣📣
With Giovanni Rosso and Roger Vicquery, we study the interplay between financial sanctions and dollar dominance focusing on how post-2014 international lending to Russia de-dollarized ($⬇) in favour of a euroization (€⬆️) ora.ox.ac.uk/objects/uuid...
🧵👇[1/10]

#EconSky
April 15, 2025 at 5:57 PM
marcogarofalo.bsky.social
📣📣📣 New paper out 📣📣📣
With Giovanni Rosso and Roger Vicquery, we study the interplay between financial sanctions and dollar dominance focusing on how post-2014 international lending to Russia de-dollarized ($⬇) in favour of a euroization (€⬆️) ora.ox.ac.uk/objects/uuid...
🧵👇[1/10]

#EconSky
April 15, 2025 at 5:57 PM
marcogarofalo.bsky.social
Fantastic 10th Annual West Coast Workshop in International Finance at Santa Clara last Friday. Huge thanks to Vito Cormun, Helen Popper, @sanjaysingh.bsky.social and all organisers!
Top research by colleagues and great to share the latest version of our paper on UK export dollarization post-Brexit.
April 7, 2025 at 2:17 PM
Reposted by Marco Garofalo
thomsampson.bsky.social
Interested in how trade barriers affect firms?

New @voxeu.org column on our research on firm-level effects of Brexit on UK goods trade

Leaving single market and customs union reduced UK exports and imports

Smaller firms hardest hit: around 16,400 firms stopped exporting to EU because of TCA
voxeu.org VoxEU @ CEPR @voxeu.org · Apr 7
Dismantling deep integration has consequences for #trade. Brexit reduced worldwide UK #exports by 6.4% and worldwide #imports by at least 3.1%. Smaller firms suffered larger declines than large firms.
@marcogarofalo.bsky.social @thomsampson.bsky.social et al
cepr.org/voxeu/column...
#EconSky
Graphs of the estimated changes in firm trade with EU versus rest of the world following Brexit by firm size quintile. Smaller firms experienced a larger impact than large firms. How does dismantling deep integration affect international trade? This column uses firm-level customs data to study the impact of Brexit on UK goods trade. The authors find that in the short term, exit from the Single Market and Customs Union reduced worldwide UK exports by 6.4% and worldwide imports by at least 3.1%. Importers partly compensated for lower EU imports by sourcing more from outside the EU, while exports to non-EU countries were unaffected. Moreover, smaller firms suffered larger declines in trade with the EU, whereas the largest firms did not experience a fall in exports. Lookup fields should be configured in the field menu dropdown
April 7, 2025 at 9:40 AM
Reposted by Marco Garofalo
voxeu.org
Dismantling deep integration has consequences for #trade. Brexit reduced worldwide UK #exports by 6.4% and worldwide #imports by at least 3.1%. Smaller firms suffered larger declines than large firms.
@marcogarofalo.bsky.social @thomsampson.bsky.social et al
cepr.org/voxeu/column...
#EconSky
Graphs of the estimated changes in firm trade with EU versus rest of the world following Brexit by firm size quintile. Smaller firms experienced a larger impact than large firms. How does dismantling deep integration affect international trade? This column uses firm-level customs data to study the impact of Brexit on UK goods trade. The authors find that in the short term, exit from the Single Market and Customs Union reduced worldwide UK exports by 6.4% and worldwide imports by at least 3.1%. Importers partly compensated for lower EU imports by sourcing more from outside the EU, while exports to non-EU countries were unaffected. Moreover, smaller firms suffered larger declines in trade with the EU, whereas the largest firms did not experience a fall in exports. Lookup fields should be configured in the field menu dropdown
April 7, 2025 at 8:58 AM
Reposted by Marco Garofalo
sanjaysingh.bsky.social
We are looking forward to the 10th Annual West Coast Workshop in International Finance at Santa Clara University this Friday.

Program can be found here:

sanjayrajsingh.github.io/CFP/Agenda_W...
April 2, 2025 at 3:38 PM
Reposted by Marco Garofalo
marcogarofalo.bsky.social
Really great to see our research on the impact of Brexit on UK trade featured in today’s @adamtooze.bsky.social Chartbook.
March 12, 2025 at 8:04 PM
marcogarofalo.bsky.social
Really great to see our research on the impact of Brexit on UK trade featured in today’s @adamtooze.bsky.social Chartbook.
March 12, 2025 at 8:04 PM
Reposted by Marco Garofalo
chathamhouse.org
"Russia's pushing of the envelope when it comes to these hybrid attacks means that the Kremlin is playing with fire."

Senior Research Fellow @katjabego.bsky.social joins the @wsj.com to discuss the allegations of sabotage in the Baltic Sea and Moscow’s hybrid war with NATO.
Europe’s Undersea Cable-Cutting Mystery, Explained
WSJ unpacks the allegations of sabotage that have turned the Baltic Sea into the focal point of Moscow’s hybrid war with NATO.
www.wsj.com
February 25, 2025 at 4:30 PM
Reposted by Marco Garofalo
cep-lse.bsky.social
Sneak peek at CentrePiece – out tomorrow!

Featuring: Remembering Daniel Kahneman, China’s solar power and EU firms, women inventors, online doctors, the UK car industry, AI survey interviews, capping rental fees, Brexit and UK firms.
February 19, 2025 at 12:00 PM
marcogarofalo.bsky.social
🚨 Only two weeks left to submit to the Joint BIS, BoE, ECB and IMF Spillover Conference 2025! Topic: “Policy challenges in a fragmenting world: Global trade, exchange rates, and capital flows”.

Deadline: Feb 16th

www.bankofengland.co.uk/-/media/boe/...
www.bankofengland.co.uk
January 29, 2025 at 6:14 PM
marcogarofalo.bsky.social
My first coverage in Dutch! Bedankt @nu.nl voor deze goede samenvatting van ons nieuwe onderzoek over de impact van Brexit op Internationale handel
Hier de link: www.nu.nl/economie/633...
En ons paper: cep.lse.ac.uk/_NEW/PUBLICA...
Brexit raakte Britse handel in eerste twee jaar toch niet zo hard als verwacht
Het Britse bedrijfsleven blijkt beter bestand te zijn tegen de gevolgen van de Brexit dan voorspeld, blijkt uit nieuw onderzoek. Onder de slachtoffers van de breuk zitten vooral kleinere exportbedrijv...
www.nu.nl
December 19, 2024 at 9:32 AM
Reposted by Marco Garofalo
thomsampson.bsky.social
Interested in our new @cep-lse.bsky.social research on Brexit and trade, but don't have time to read the full paper? Don't worry, here's a @ukandeu.bsky.social blog summarising the key findings

ukandeu.ac.uk/deep-integra...
Deep Integration and Trade: UK Firms in the Wake of Brexit - UK in a changing Europe
A new LSE study explores how much impact Brexit has had on UK trade and the effect on both small and large firms
ukandeu.ac.uk
December 18, 2024 at 2:47 PM
Reposted by Marco Garofalo
cep-lse.bsky.social
New! Brexit has reduced goods exports by £27bn – with smaller firms most affected

Rebecca Freeman, @marcogarofalo.bsky.social Enrico Longoni , Kalina Manova, Rebecca Mari, Thomas Prayer, @thomsampson.bsky.social

Read: cep.lse.ac.uk/pubs/d...
December 18, 2024 at 7:00 AM
marcogarofalo.bsky.social
Brilliant ESCB Research Cluster 2 workshop this week at Banca d’Italia. Great to meet colleagues and hear about their exciting research! Also had the chance to present the new version of our paper on the dollarization of UK exports after Brexit. (Old version 👇🏻; new coming soon 😉)
www.bankofengland.co.uk
October 19, 2024 at 6:32 AM
Reposted by Marco Garofalo
katjabego.bsky.social
🚨We're hiring! Do you work on topics at the intersection of technology, cyber, geopolitics and security? Join Chatham House as a research fellow!

An incredibly exciting role in a great team.

Deadline: rolling - end of September.

careers.chathamhouse.org/jobs/4877821...
https://careers.chathamhouse.org/jobs/4877821-research-fellow-cyber-policy-security?utm_campaign=jobs-widget&utm_source=careers.chathamhouse.org&utm_content=jobs&utm_medium=web
t.co
August 27, 2024 at 1:26 PM