Francesco Bianchi

Associate Professor of Economics

External Address: 
201B Social Sciences, Durham, NC 27708
Internal Office Address: 
Box 90097
(919) 660-1828

Currently, Bianchi’s main research interests involve the role of agents’ beliefs in explaining changes in the reduced form properties of the macroeconomy. Bianchi has also done work on the interaction between the real economy and the term structure of interest rates and on the role of rare events in shaping agents’ expectations.

He is on leave for Spring Semester 2017.


  • Ph.D., Princeton University 2009
  • M.A., Princeton University 2007
  • B.A., Bocconi University (Italy) 2003

Bianchi, F, Lettau, M, and Ludvigson, SC. "Monetary Policy and Asset Valuation: Evidence from a Markov-Switching Cay." (August 2016).

Bianchi, F. "Rare Events, Financial Crises, and the Cross-Section of Asset Returns." Economics Research Initiatives at Duke (ERID) Working Paper, no. 41 (March 1, 2015). (Working Paper)

Bianchi, F, Ilut, CL, and Schneider, M. "Uncertainty Shocks, Asset Supply and Pricing Over the Business Cycle." (May 2014). (Working Paper)

Bianchi, F, Mumtaz, H, and Surico, P. "Dynamics of the Term Structure of UK Interest Rates." Economics Research Initiatives at Duke (ERID) Working Paper, no. 39 (March 1, 2009). (Working Paper)

Modeling the Evolution of Agents' Beliefs and Uncertainty in General Equilibrium Models awarded by National Science Foundation (Principal Investigator). 2012 to 2016