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Indiana University Bloomington


The Kelley Advantage

Our faculty members sit on the editorial boards of more than 10 leading journals in economics.

Michele Fratianni

Contact Information

(812) 855-3360
fratiann [at] indiana [dot] edu (E-mail)
Business School

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Faculty Web Page

  • Professor Emeritus


  • Bloomington


  • BA , Ohio State University, 1967
  • MA, Ohio State University, 1967
  • PhD, Ohio State University, 1971

Professional Experience

  • 2006-present: Professor of Economics of the Universita' Politecnica delle Marche, Ancona, Italy
  • 1981-82: Senior Staff Economist, President's Council of Economic Advisers.
  • 1976-79: Economic Advisor, Commission of the European Communities, Brussels.
  • 1973-1991 Visiting Professor of Economics, Katholieke Universiteit te Leuven, Belgium
  • 1995 :Allis-Chalmers Distinguished Professor of International Economics, Marquette University, Milwaukee.
  • 1995: Bundesbank Professor of International Monetary Economics, Free University of Berlin.

Awards, Honors & Certifications

  • 2005: Honorary Citizenship of Ferrazzano, Italy.
  • 1998-2006: W. George Pinnell Professor of Business Economics and Public Policy
  • 1982: Ufficiale della Repubblica italiana.
  • 1982: Gold Medal of the Pio ManzĂș Center
  • 1991: Scanno Prize in Economics.
  • 1992: St. Vincent Prize in Economics.

Professional Interests

Monetary Economics, International Economics, International Finance, Economic History

Personal Interests

cooking, travel, weight exercise, swimming, collecting


Taught in the Department of Business Economics and Public Policy at the Kelley School of Business of Indiana University in Bloomington, Indiana (USA) from 1971 to 2006. Leaves of absence at the Catholic University of Louvain, the UniversitĂ  Cattolica of Milan, the UniversitĂ  Sapienza of Rome, Marquette University, and Free University of Berlin, European Commission in Brussels, and the U.S. President's Council of Economic Advisers). Has advised various ministries of the Italian government, the governments of Estonia, Latvia, Lithuania, and Vietnam. Has been a consultant with several private-sector firms. He has founded Open Economies Review and managed it for 16 years.

Selected Publications

  • Fratianni, Michele and Francesco Marchionne (2012), "Trade Costs and Economic Development," Economic Geography, Vol. 88, No. 2, April, pp. 137-163.   Read Abstract ››

  • Michele Fratianni, "Riflessioni Sulla Politica Economica Italiana in Occasione Del 150esimo Anniversario Dell'Unità", Economia Italiana, 2011, forthcoming

  • Fratianni, Michele, Francesco Marchionne and Chang Hoon Oh (2011), "A Commentary on the Gravity Equation in International Business," Multinational Business Review, Vol. 19, No. 1, pp. 36-46. Read Abstract ››

  • Chang Hoon Oh and Michele U. Fratianni.  "Do Additional Bilateral Investment Treaties Boost Foreign Direct Investments?, " Working Papers 2010-04, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy. Read Abstract ››

  • Fratianni, Michele (2010), "Sviluppo, Rischio e Conti Con L’esterno Delle Regioni Italiane: Commenti e Riflessioni," Economia Italiana, No. 3.
  • Fratianni, Michele and Francesco Marchionne (2010), "Banks’ Great Bailout of 2008-2009," Banks and Bank Systems, Vol. 5, No. 2, pp. 4-19. Read Abstract ››

  • Fratianni, Michele and Francesco Marchionne (2010), "The Banking Bailout of the Subprime Crisis: Size and Effects," PSL Quarterly Review, Vol. 63, No. 254, pp. 187-233. Read Abstract ››

  • Alessandra Del Boca,  Michele Fratianni, Franco Spinelli, and Carmine Trecroci, "The Phillips Curve and the Italian Lira, 1861-1998", North American Journal of Economics and Finance, 2010, 21(2): 182-197. Read Abstract ››

  • Michele U. Fratianni and Francesco Marchionne, "The Role of Banks in the Subprime Financial Crisis", Review of Economic Conditions in Italy, 2009 (1):19-59. Read Abstract ››

  • Pietro Alessandrini, Michele U. Fratianni, and Alberto Zazzaro (2009), The Changing Geography of Banking and Finance, Springer, New York, NY. Read Abstract ››

  • Michele U. Fratianni, "The Gravity Equation in International Trade", in Alan M. Rugman (ed.), Oxford Handbook of International Business, Second Edition, Oxford University Press, 2009: 72-89. Read Abstract ››

  • Pietro Alessandrini and Michele U. Fratianni, "Resurrecting Keynes to Stabilize the International Monetary System", Open Economies Review, 2009, 20(3): 339-358. Read Abstract ››

  • Michele U. Fratianni and Chang Hoon Oh, "Expanding RTAs, Trade Flows, and the Multinational Enterprise", Journal of International Business Studies, 2009, 40(7):1207-1227. Read Abstract ››

  • Michele Fratianni and Chang Hoon Oh, "Size of Regional Trade Agreements and Regional Trade Bias", Applied Economics Letters, 2009, 16(6):1603-1606. Read Abstract ››

  • Pietro Alessandrini and Michele U. Fratianni, "Dominant Monies, Special Drawing Rights, and Supranantional Bank Money," World Economics, 2009, Vol. 10, N. 4: 45-67. Read Abstract ››

  • Michele U. Fratianni, "Financial Crises, Safety Nets, and Regulation", Rivista Italiana degli Economisti, 2008, XIII (2): 169-207. Read Abstract ››

  • Michele Fratianni and Francesco Marchionne, "Heterogeneity of Trade Costs", Economics Bulletin, 2008, Vol.6, number 48:1-14. Read Abstract ››

  • Michele U. Fratianni, John Kirton, and Paolo Savona (eds.), Corporate, Public and Global Governance: The G8 Contribution. Ashgate, 2007.
  • Fratianni, Michele U., John Kirton and Paolo Savona (eds.), Financing Development: The G8 and UN Contribution. Ashgate, 2007. 
  • Fratianni Michele U. (2007), Karl Brunner visto da Michele Fratianni. LUISS University Press. Read Abstract ››

  • Fratianni Michele U. (2006), "Government Debt, Reputation and Creditors’ Protections: The Tale of San Giorgio," Review of Finance, 2006, Vol. 10 (4): 487-506. Read Abstract ››

  • Fratianni, Michele U. and Franco Spinelli, "Italian City-States and Financial Evolution", European Review of Economic History, 2006, Vol.10, 3: 257-278.  Read Abstract ››

  • Fratianni, Michele U., and Heejoon Kang (2006), "International Trade, OECD Membership, and Religion," Open Economies Review, Vol. 17 (4-5): 493-508. Read Abstract ››

  • Fratianni, Michele U. (ed.), Regional Economic Integration, Elsevier, 2006. Read Abstract ››

  • Kang, Heejoon and Michele U. Fratianni (2006), “Heterogeneous Distance-Elasticities in Trade Gravity Models,” Economics Letters, 90, 2006, pp. 68-71. Read Abstract ››