Federico Etro is Professor of Economics at Ca' Foscari University of Venice. He is an expert of industrial organization and international macroeconomics with publications on American Economic Review, International Economic Review, European Economic Review, Economic Journal and leading applied works on the economics of cloud computing, online advertising and antitrust policy for the New Economy. He holds a Laurea cum laude from the Catholic University of Milan and a Master in Economics from the University of California, Los Angeles, has taught at the University of Edinburgh, the University of Milan, Bicocca and Luiss in Rome, and has been research assistant at the National Bureau of Economic Research of Cambridge, MA. He coordinates the Economic Seminar Series in Venice.
Etro's main research is focused on understanding what shapes the structure of markets: how many firms can survive in a certain industry? what should be their market shares and markups? how much incumbents invest in R&D? which financial or contractual strategies are optimal? how macroeconomic shocks and policies affect market structures, international trade, business cycle and growth? His research on the theory of endogenous market structures (EMS) provides a general framework to answer these questions through the joint analysis of strategic interactions and entry decisions. Applications concern EMS and the Business Cycle (2010, Economic Journal), EMS and Contract Theory (2011, European Economic Review), EMS and Strategic Trade Policy (2011, International Economic Review), EMS and the Optimal Financial Structure (2010, Canadian Journal of Economics) and industrial organization. The essay Innovation by Leaders (2004, Economic Journal) was popularized by the magazine Economist (Slackers or pace-setters?) as a solution to the Arrow's paradox on the incentives to innovate. The first general characterization of the equilibrium behavior of leaders in industries with endogenous entry was developed in Aggressive Leaders (2006, Rand Journal of Economics) and Stackelberg Competition with Endogenous Entry (2008, Economic Journal). A survey and the empirical evidence on the EMS approach can be found in The Theory of EMS (2013, Journal of Economic Surveys) and EMS and Innovation by Leaders: an Empirical Test (2013, Economica).
The most recent research has been about Renaissance and Baroque paintings from the perspective of economic history (The Market for Paintings in Italy during the XVII Century, 2012, Journal of Economic History), art history (The Market for Paintings in the Venetian Republic from Renaissance to Rococo, 2013, Journal of Cultural Economics) and labor economics (The Labor Market in the Art Sector of Baroque Rome). Etro wrote two books for Springer, Competition, Innovation, and Antitrust (2007) and Endogenous Market Structures and the Macroeconomy (2009) and co-edited for Oxford University Press a volume on Competition Law and the Enforcement of Art. 102 (2011). The EMS approach has been presented in different international lectures, including the Bi-annual Lecture of the Catholic University of Leuven in Belgium (2007) and the Dynamic Competition Lecture of Osaka in Japan (2009). For additional material click here.