Profile

Marco’s main research interests are in the fields of Macroeconomics, Fiscal and Monetary Policy, Energy Economics, Economics of Cryptocurrency and Defence Economics.

PhD Supervision:

Nan Nan

Advanced Macroeconomics (UG Level) – Semester 1

• Articles

  • Foroni C, Gelain P, Lorusso M, Marcellino M. Severe weather and financial (in)stability. Energy Economics 2026, 161. In Preparation.
  • Bjørnland, H, Casarin, R, Lorusso, M, Ravazzolo, F. Fiscal Policy Regimes in Resource-Rich Economies. Journal of Applied Econometrics 2026. In Preparation.
  • Gelain P, Lorusso M. Oil price fluctuations, US banks, and macroprudential policy. Journal of Monetary Economics 2025, 156, 103848.
  • Ghoshray A, Lorusso M. Energy consumption, CO2 emissions and economic growth in selected ASEAN countries. Letters in Spatial and Resource Sciences 2025, 18(1), 2.
  • Asimakopoulos S, Lorusso M, Ravazzolo F. A Bayesian DSGE approach to modelling cryptocurrency. Review of Economic Dynamics 2023, 51, 1012-1035.
  • Costola M, Lorusso M. Spillovers among energy commodities and the Russian stock market. Journal of Commodity Markets 2022, 28, 100249.
  • Asimakopoulos S, Lorusso M, Pieroni L. Can public spending boost private consumption?. Canadian Journal of Economics 2021, 54(3), 1275-1313.
  • d'Agostino G, Dunne JP, Lorusso M, Pieroni L. Military Spending, Corruption, Persistence and Long Run Growth. Defence and Peace Economics 2020, 31(4), 423-433.
  • Cabras I, Lorusso M, Waehning N. Measuring the economic contribution of beer festivals on local economies: The case of York, United Kingdom. International Journal of Tourism Research 2020, 22(6), 739-750.
  • Byrne JP, Lorusso M, Xu B. Oil Prices, Fundamentals and Expectations. Energy Economics 2019, 79, 59-75.
  • Lorusso M, Pieroni L. Disentangling Civilian and Military Spending Shocks: A Bayesian DSGE Approach for the US Economy. Journal of Risk and Financial Management 2019, 12(3), 141.
  • Lorusso M, Pieroni L. Causes and Consequences of Oil Price Shocks on the UK Economy. Economic Modelling 2018, 72, 223-236.
  • Lorusso M, Pieroni L. The Effects of Military and Non-Military Government Expenditures on Private Consumption. Journal of Peace Research 2017, 54(3), 442-456.
  • Pieroni L, d'Agostino G, Lorusso M. Can We Declare Military Keynesianism Dead?. Journal of Policy Modeling 2008, 30(5), 675-691.

• Editorials

  • Lorusso M. How economies can kickstart post the pandemic. Silicon India 2020.
  • Ahrens A, Carvalho A, Lorusso M. Dark Predictions about North Sea Oil Look All Too Believable. The Conversation 2016.

• Report

  • Seah S, McGowan P, Low Yu Xing M, Martinus M, Ghoshray A, Lorusso M, Wong R, Poh Onn L, Elliott L, Setyowati A, Rahman S, Joy Quirapas-Franco M. Energy Transitions in ASEAN COP26 Policy Report. British High Commission Singapore, 2021. UK-Singapore COP26 Universities Network policy reports.

• Working Papers

  • Gelain P, Lorusso M, Zaman S. Oil Price Fluctuations and US Banks. Federal Reserve Bank of Cleveland Working Paper Series 2024, (Working Paper No. 24-11).
  • Lorusso M, Ravazzolo F, Udroiu C. Fiscal stimuli: Monetary versus Fiscal Financing. BEMPS – Bozen Economics & Management Paper Series 2024, 105.
  • Gelain P, Lorusso M. The US Banks' Balance Sheet Transmission Channel of Oil Price Shocks. Federal Reserve Bank of Cleveland Working Paper No. 22-33 2022, (22-23).
  • Grassi S, Lorusso M, Ravazzolo F. Adaptive Importance Sampling for DSGE Models. BEMPS - Bozen Economics & Management Paper Series 2021, BEMPS84.
  • Beidas-Strom S, Lorusso M. Do They Hurt? Macroeconomic Effects of Reforms on Three Diverse Oil Exporters: Russia, Saudi Arabia and the UK. IMF Working Paper, WP/19/214 2019.
  • Smith H, Lorusso M, MacKillop F. Powering the City in the Global South: Increasing Energy Access for all in a Context of Urbanisation and Changing Governance. UC Berkeley: Center for Effective Global Action 2017.