Each month, the Staff Spotlight Series turns the focus on a member of the School community. We talk to researchers about their areas of expertise, the turning points in their careers, and what keeps them curious - offering a glimpse into the thinking behind the work.

Dr Davide Romelli

Associate Professor, Economics | Head of the Department of Economics
Davide's research focuses on international finance, macroeconomics, central banking, and financial supervision.

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What is your current area of research?

My research focuses on central bank institutional design and communication. One strand examines what drives reforms to central bank independence and how those institutional choices affect monetary policy and the wider economy. A more recent and granular strand studies how central banks communicate: how their language, tone and choice of communication channels shape financial-market reactions and the expectations of consumers and households. These two strands are closely connected. Together, they explore how the institutional design of central banks and the way they communicate their decisions influence economic behaviour and outcomes.

What question or challenge were you setting out to address when you started this work?

When I started my PhD, I wanted to understand how central bank independence could be measured consistently across countries and over time, and how central bank communication affects the credibility and effectiveness of monetary policy. A central challenge was the scarcity of comparable public information. This made me appreciate the value of collecting original data and sharing them with others. Since then, my research has often combined two objectives: answering important research questions and constructing the datasets best suited to addressing them. This involves collecting and processing large volumes of data, then making the resulting datasets available to other researchers in the field.

Share a turning point or defining moment in your work as a researcher?

A defining moment was seeing my database on central bank independence finally published after a long journey that began with my first working paper. Yet the greater turning point came when the research moved beyond academia and entered a wider public debate. Political pressure on the Federal Reserve during Donald Trump’s 2024 presidential campaign, and following his election, renewed interest in central bank independence. Seeing my work cited by the Financial Times, The Economist and other leading international outlets showed me that research developed over many years could speak directly to an urgent policy issue. That recognition reinforced both my interest in the subject and the value of making rigorous research accessible beyond academia.

Briefly, what excites you about your research?

What excites me most is the combination of rigorous quantitative research and immediate political relevance. The renewed attention to my work on central bank independence, in light of growing pressure on the Federal Reserve, shows how careful empirical research can inform debates with clear real-world consequences. I find it particularly rewarding when central banks and international institutions tell me that they draw on my data and research to assess or recommend institutional reforms. Knowing that evidence developed to answer an academic question can also help shape the design of central banks is one of the most satisfying aspects of my work.

What do you like to do when you are not working?

When I am not working, I enjoy spending time with my family. I also coach children in GAA and football, which gives me a much-needed change of pace and keeps me involved in the community. When time allows, I enjoy skiing, cycling and playing golf.

What are you currently reading?

I often find that even the books I read for pleasure lead me back to questions connected with my research. At the moment, however, I am reading a recent biography of Rory McIlroy. It is a lighter and more relaxing choice, offering a welcome change of pace from the academic reading that I also enjoy and that occupies much of my time.

If you could have dinner with any historical figure, who would it be and why?

Although Mario Draghi is a contemporary rather than a historical figure, the scale and lasting significance of his career make him, in my view, a historic one. My research has repeatedly crossed paths with his work, from the Italian financial reforms of the 1990s to his leadership of the ECB during the euro-area crisis. His “whatever it takes” commitment illustrates the power of central bank communication. He later led Italy through the COVID-19 pandemic and recovery as prime minister and, more recently, proposed a new agenda for European competitiveness. I would welcome the opportunity to ask how he approached institutional reform, communication and leadership during such different periods of economic and political pressure.

What would people be surprised to find out about you?

People might be surprised to learn that, despite eventually pursuing an academic career, I was far from being one of the highest-performing students in middle and high school. My academic path was neither obvious nor linear. It took a broken shoulder from a cycling accident, followed by a summer working as a handyman for a construction company, to make me appreciate the importance of education. Those experiences have stayed with me and shaped how I think about ability and personal development: early academic results do not necessarily determine where someone can eventually go, but education remains fundamental to creating opportunities and fulfilling one’s potential.

October 2026