Marco Pagano is Professor of Finance at the University of Naples Federico II. He taught at Bocconi University and Imperial College, and was managing editor of the Review of Finance, chair of the Advisory Scientific Committee of the European Systemic Risk Board (ESRB), president of the Einaudi Institute for Economics and Finance (EIEF) and director of the Centre for Studies in Economics and Finance (CSEF). His research is in the area of finance, chiefly banking, corporate finance, market microstructure, and lately labor and finance. He has co-authored the book Market Liquidity: Theory, Evidence and Policy with Thierry Foucault and Ailsa Roëll.