Last week, Martin Gramont Manzo, DBA student and Adjunct Professor of Economics and Finance at the International University of Monaco (IUM) participated to the conference “Monetary Policy in the 21st Century” held at the Universidad Rey Juan Carlos (Madrid).

The audience of the conference “Monetary Policy in the 21st Century” was composed by scholars and practitioners from around Europe, including practitioners from the European Central Bank (ECB) and Swiss Central Bank.

Martin presented his DBA research paper “On Monetary Dynamics in Argentina: A Study on Real Money Demand Behavior (2004-2016)”

Co-authored with Bassem Kamar, Professor of Economics at IUM, and Selim Rafik, this work is an empirical study on real money demand in Argentina using data from the period 2004-2016, the “K Administration”, acknowledging that studies of demand for real balances constitute a fundamental factor of central banking management to achieve an optimal monetary dynamic with price stability. This study aims to find, through co-integration techniques, a long run, explanatory model of real money demand. For that, it tests three models, using different specifications, incorporating stylized facts of Argentina. Finally, the work analyzes the short-run dynamics through error-correction models. In particular, this work aspires to help monetary and economic policymakers to learn from the Argentine recent past, and also to contribute with a scientific approach necessary -among others- to give Argentina the means to reach monetary stability, economic growth and social progress.

DBA research paper, Martin Gramont Manzo

Martin Gramont Manzo

Martin Gramont is a professional economist, fund manager, financial adviser and investor with a 20+ year experience.

Initiated his career in the mid 90’s as investment banker at Citicorp and Salomon Smith Barney (former Salomon Brothers). During these years he was involved in top M&A, IPO’s and structured finance operations in Latin America as well as book-building processes at the trading desk in New York. During 2000’s he grew up in the Private Equity and Hedge Fund industries reaching up Vice President positions in Latin America and USA. In 2009, he starts to manage liquid assets for a London-based, Indian billionaire family, becoming Fund Manager and Director at Altai Capital Growth Fund (UK). In 2011 takes place the spin-off and opening of asset management activities to a small group of private clients, founding Hermaion Capital Management.

Martin obtained a BSc. in Economics from the University of Buenos Aires. During these years, he obtained the FURP Award sponsored by the United States Government for the Young Leaders Program at The American Council of Young American Political Leaders (ACYPL) as a Global Young Leader (1997).

Later on, he obtained the degree of Master in Public Policy (MPP-Economics) from Harvard University. Additionally, he is Ph.D(c) in Economics from the University of Lugano (Switzerland) and DBA (ABD) from IUM/INSEEC (Monaco).

At Harvard University, he was distinguished with the Amalia Lacroze de Fortabat Award 2006 and 2007, being Fellow at the David Rockefeller Center for Latin American Studies, and did consulting works for the management consulting firm The Palladium Group owned by Harvard Professors R. Kaplan and E. Norton.

Currently, Martin is Adjunct Professor of Economics and Finance at the International University of Monaco (Principality of Monaco) and member of The Econometric Society (New York City, NY). 


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