Padoan was born in Rome on 19 January 1950. In the 1970s, he graduated in economics at the La Sapienza University in Rome.[1] During his years at the University, Padoan criticised in the magazine Marxist Critic the economic theories of John Maynard Keynes, being influenced by the ideas of the Polish economist Michał Kalecki.[2]
Padoan was an International Monetary Fund official from 2001 to 2005 as the Italian executive director and as board member in charge of European coordination. He is a consultant to the World Bank, European Commission and European Central Bank, where he has called for aggressive easing. During that period, he criticized budget cutbacks in the euro zone's weakest economies, struggling with debt, which he has called periphery countries.
Padoan served as deputy secretary general at the OECD in Paris between 2007 and 2014, taking on the additional role of the organisation's chief economist in 2009.[4] He was the OECD's G20 Finance Deputy, leading the initiatives 'Strategic Response', 'Green Growth' and 'Innovation'.
Padoan often stated that the very tight fiscal rules which Europe currently has in place could be temporarily relaxed in order to make the necessary resources available to boost employment.[9]
Also during his time in office, Padoan implemented the Italian government’s 2015 plan to clean up over €200 billion in non-performing loans from the balance sheets of the country’s banks. He also oversaw the 2017 bailout of Banca Monte dei Paschi di Siena, Veneto Banca, and Banca Popolare di Vicenza.[11][12]
Padoan edited or authored 14 books and papers, from 1986 until 2010, with titles in English as follows:
Innovation and Growth: Chasing a Moving Frontier by Vandana Chandra, Deniz Eröcal, Pier Carlo Padoan and Carlos A. Primo Braga. OECD, World Bank 2010. [1]
The Marshall Plan: Lessons Learned for the 21st Century, edited by Eliot Sorel and Pier Carlo Padoan. OECD 2008.[29]
Euro-American Trade and Financial Alliances, 2005 book, editor [30]
The Structural Foundations of International Finance, 2003 book, editor[31] "advocates entrepreneurial co-ordination by productive enterprises"
A Transatlantic Perspective on the Euro, 2000 paperback, editor [32] euro as potential global currency
Monetary Union, Employment and Growth: The Impact of the Euro as a Global Currency, edited by Pier Carlo Padoan. Edward Elgar Publishing 2001.[33]
Technology accumulation and diffusion: is there a regional dimension? by Pier Carlo Padoan, World Bank Publications. 1997 (36-page working paper)[34]
Trade and the accumulation and diffusion of knowledge, by Pier Carlo Padoan, World Bank Publications. 1996 (47-page working paper)[35]
Europe between East and South by Siro Lombardini and Pier Carlo Padoan. 1994
Political Economy of European Integration: Markets and Institutions by Paolo Guerrieri and Pier Carlo Padoan. 1989
Political Economy of International Co-Operation by Pier Carlo Padoan and Paolo Guerreri. 1988 ISBN978-0-7099-1344-3.
The Political Economy of International Financial Instability by Pier Carlo Padoan. 1986
^"What's Holding Europe Back?". Canadian International Council. Open Canada. 21 November 2013. Archived from the original(interview) on 25 February 2014. Retrieved 21 February 2014. For example, there is the so-called contractual agreement hypothesis, which is basically that countries should be allowed to have more fiscal space if they commit to changing labour market rules to support increased employment
^Padoan, Pier Carlo; Paul A. Brenton; Gavin Boyd (2003). The Structural Foundations of International Finance. Edward Elgar Pub. ISBN1843763869.
^Henning, C. Randall; Pier Carlo Padoan (2000). Transatlantic Perspectives on the Euro. Brookings Institution Press and the European Community Studies Association. ISBN0815735596.
^Padoan, Pier Carlo, ed. (January 2001). Monetary Union, Employment And Growth Click to look inside Look inside Monetary Union, Employment And Growth The Impact of the Euro as a Global Currency. Edward Elgar. ISBN9781782544036.
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