Gian Luca Clementi

Gian Luca Clementi

Joined Stern 2003

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, 7-71
New York, NY 10012

Personal website


Gian Luca Clementi is a Professor of Economics at the Stern School of Business, New York University. Professor Clementi earned a B.A in Economics from the University of Bologna and a M.A. and PhD in Economics from the University of Rochester. Before joining Stern, he was an Assistant Professor of Finance at the Tepper School of Business, Carnegie Mellon University.

Professor Clementi's research focuses on the role played by firm-level dynamics in shaping macroeconomic outcomes.

Research Interests

  • Macroeconomics

Courses Taught

  • Business and Government
  • Global Economy

Academic Background

Ph.D., Economics, 2000
University of Rochester

M.A., Economics, 1998
University of Rochester

B.A., Economics, 1993
Universita' di Bologna

Awards & Appointments

NBER Faculty Research Fellow  

Selected Publications

Clementi, Gian Luca, Palazzo, Berardino
Investment and the Cross-Section of Equity Returns
Journal of Finance, 2019

Clementi, Gian Luca, Palazzo, Berardino
Entry, Exit, Firm Dynamics, and Aggregate Fluctuations
AEJ Macro, 2016

Castro, Rui, Clementi, Gian Luca, MacDonald, Glenn
Legal Institutions, Sectoral Heterogeneity, and Economic Development
ReStud, 2009

Clementi, Gian Luca, Hopenhayn, Hugo A
A Theory of Financing Constraints and Firm Dynamics
QJE, 2006

Castro, Rui, Clementi, Gian Luca, MacDonald, Glenn
Investor Protection, Optimal Incentives, and Economic Growth
QJE, 2004

Areas of Expertise


  • Economic Indicators
  • Emerging Markets
  • Federal Reserve Bank/Central bank
  • International Economic Policy
  • International Monetary Fund (IMF)
  • Macroeconomics
  • Treasury Department


  • Executive Pay


  • Europe
  • New York City