Leonardo Gambacorta is the Head of the Emerging Markets unit at the BIS. Prior to his current role, he served as Head of Innovation and Digital Economy (2019-2024), Research Adviser (2014-2018) and Head of Monetary Policy (2010-12) in the Monetary and Economic Department. Before joining the BIS, he was Head of the Money and Credit Unit (2007-2009) and Head of the Banking Sector Unit (2004-2006) in the Research Department of the Bank of Italy. He was a visiting scholar at the National Bureau of Economic Research (2002–03). Leonardo holds an MSc in Economics from the University of Warwick and a PhD in Economics from the University of Pavia. His primary research interests include monetary transmission mechanisms, the effectiveness of macroprudential policies in curbing systemic risk, and the effects of technological innovation on financial intermediation. He is a research fellow of the Centre for Economic Policy Research.
Discussion paper
DP20143 The AI Supply Chain
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- Artificial Intelligence
VoxEU Column
Generative AI: Uneven adoption, labour market returns, and policy implications
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- Labour Markets 
- Productivity and Innovation
VoxEU Column
Artificial intelligence in finance
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- Finance and Fintech 
- Financial Markets 
- Financial Regulation and Banking
VoxEU Column
Big techs’ AI empire
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- Competition Policy 
- Finance and Fintech 
- Productivity and Innovation
VoxEU Column
Stablecoins and money market funds: Less similar than you think
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- Finance and Fintech 
- Financial Markets
VoxEU Column
Decoding DeFi lending: Motivations, risks, and investor behaviours
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- Financial Markets