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Dr Francesco Carli



Senior Lecturer, Economics


Faculty of Business and Law


Deakin Business School


Melbourne Burwood Campus


Graduate Certificate of Higher Ed. Learning & Teaching, Deakin University, 2018


Dr Francesco Carli is a Lecturer in the Department of Economics in Deakin Business School. Francesco completed his PhD in Economics at Washington University in 2013. He joined Deakin University in October of 2015 and was previously a Postdoctoral Research Fellow at Catòlica Lisbon School of Business and Economics. 

Francesco's research interests are in macroeconomics and monetary economics, contract theory, financial institutions and services. His recent papers analyse the role of the payment system on the flow of information in credit markets, the aggregate consequences of credit market imperfections, the efficient design of group loan contracts.

Francesco's teaching interests are in macroeconomic theory, financial intermediation and banking, decision making under uncertainty, and information economics.

Read more on Francesco's profile

Research interests

  • Macroeconomics and Monetary Economics
  • Contract Theory
  • Financial Institutions and Services


  • Member, Econometric Society.

Teaching interests

  • Macroeconomics
  • Monetary Economics
  • Contract Theory
  • Financial Institutions and Services

Research groups

  • Endogenous Credit and Investment Cycles with Asset Price Volatility (with Leonor Modesto).
  • Clearing, Transparency, and Collateral (with Gaetano Antinolfi, and Francesca Carapella).
  • Joint Liability with Endogenously Asymmetric Group Loan Contracts (with Burak Uras).


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Transparency and collateral: Central versus bilateral clearing

G Antinolfi, F Carapella, F Carli

(2022), Vol. 17, pp. 185-217, Theoretical Economics, London, Eng., C1

journal article

Sovereign debt, fiscal policy, and macroeconomic instability

F Carli, L Modesto

(2022), pp. 1-27, Journal of Public Economic Theory, London, Eng., C1

journal article

Real consequences of open market operations: The role of limited commitment

F Carli, P Gomis-Porqueras

(2021), Vol. 132, European Economic Review, C1

journal article

Endogenous credit and investment cycles with asset price volatility

F Carli, L Modesto

(2018), Vol. 22, pp. 1859-1874, Macroeconomic dynamics, Cambridge, Eng., C1

journal article

Joint-liability with endogenously asymmetric group loan contracts

F Carli, B Uras

(2017), Vol. 127, pp. 72-90, Journal of development economics, Amsterdam, The Netherlands, C1

journal article

Costly monitoring, dynamic incentives, and default

G Antinolfi, F Carli

(2015), Vol. 159, pp. 105-119, Journal of economic theory, Amsterdam, The Netherlands, C1

journal article

Funded Projects at Deakin

No Funded Projects at Deakin found


No completed student supervisions to report