Lilia Cavallari is Chair of the Parliamentary Budget Office. She is a full professor of Economics at the Roma Tre University, currently on secondment. She holds a degree in Economics from the University of Rome “La Sapienza”, a PhD in Economics from the University of Rome “La Sapienza” and was a post-doctoral fellow at the London School of Economics. She has worked as an expert with the European Commission’s Directorate General for Research, has served on the Advisory Committee of the European Economics and Finance Society and is currently on the Editorial Board of the journal Economic Modelling. She has been visiting professor at Cambridge University’s Institute for New Economic Thinking, Stockholm University’s Institute for International Studies, Bonn University’s Center for European Integration Studies and the London School of Economics’ Centre for Economic Performance. Her research interests mainly regard international macroeconomics, interdependence mechanisms in the global economy, and the transmission and international coordination of monetary and fiscal policies. Her most recent research has focused on business demographics over the business cycle, access to foreign markets and multinational production and the effectiveness and predictability of fiscal policy. She has published frequently in national and international journals, including European Economic Review, Journal of International Economics, Journal of Macroeconomics, Economic Modelling, Economic Letters, Review of International Economics, Review of Development Economics and Applied Economics.