Support for Research

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Borsa top up foscolo

UniCredit Foundation promotes several initiatives in support of research, through contests for fellowships, research grants and best paper awards aimed at post-doc researchers in the fields of economics, banking and finance.







OPEN Scholarships

2° Marco Fanno Fellowship





the scholarships in support of research are the following

Top-up Foscolo Europe
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The main objective of this initiative is to encourage the return of talented professionals.

With this contribution, the Foundation proposes to attract and keep the best young economists in Europe who are working abroad.

The grant is aimed at universities and not directly to the researchers. The competition is open only to the economic or finance departments of any university or research institute in the countries within the UniCredit perimeter to offer tenure track or post-doc positions to the best candidates in the Job Market. UniCredit Foundation awards an annual grant of € 50,000 for three years (a total of € 150,000), such as integration of the remuneration and other contractual terms offered by the department to the selected candidate to the winning department/research institute.


The researchers will be selected from the Job Market directly by the winning departments.


In 2018,  the Top-Up Fellowship Foscolo Europe, UniCredit Foundation awarded:


CSEF (Center for Studies in Economics and Finance) - Federico II University of Naples -  researcher Elia Sartori (Princeton University)

Department of Economics - Ca’ Foscari University of Venice– researcher Marco Di Cataldo (LSE)


Click here to see the list of all winners from previous years.

Carlo Giannini Fellowship in Econometrics

The competition for 1 Research Fellowship in Econometrics, in memory of Carlo Giannini, is launched by UniCredit Foundation in cooperation of  Università Ca’ Foscari Venezia, in cooperation with the Associazione Carlo Giannini, the Centro Interuniversitario di Econometria (CIdE), and Bank of Italy.


The competition is aimed to young researchers of all nationalities who wish to undertake advanced research in econometrics in an Italian university. The competition is based on candidates’ curriculum, research papers and publications, and a research project.


Click here to see the 2018 Call (closed).
Click here to see the list of all winners from previous years.

Marco Fanno Fellowship - now open
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The main objective of this initiative is to encourage the return of talented professionals to Italy.


With this competition the Foundation intends to retain and attract the best young economists to Italian state universities.


The competition offers a total contribution of € 45,000 (gross taxes) for three years (15,000/year) to the best economics and finance department of an Italian state university to supplement the salary of an RTDB researcher (fixed-term researcher of type B) employed through a public competition during the last academic year. This contribution offers the winning department an important competitive advantage when employing new researchers.


In 2018, with the 1st Fanno Fellowship, Unicredit Foundation awarded a Marco Fanno Fellowship. The winner is the

Department of Economics at the University of Bologna.


Modigliani Research Grant

This initiative awards the best economics and finance research

projects presented by young researchers from  universities within the UniCredit perimeter.

The winners will receive an annual grant of € 10,000 (gross taxes) for completing their research work over a period of two years.


In 2018, in its 9th year, 4 Modigliani Research Grants were awarded. The winners are:

Antoine Camous Mannheim University

Gerhard de Britto Diogo Catholic University of Milan

Filippo De Marco Bocconi University

Luca Trapin Catholic University of Milan


Click here to see the list of all winners from previous years.

Best Paper Award on Gender Economics
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The competition, open to young economists and researchers (from the 14 countries in which UniCredit operates) awards the authors of the two best papers on Gender Economics.

The selection of the work received will be made by a Commission of international experts appointed by the Foundation’s Scientific



In the 9th competition the foundation granted 2 awards of € 2,500 each. The winners have been:


Click here to see the 2018 Call (closed).
Click here to see the list of all winners from previous years.

SUERF - UniCredit Foundation resesarch Prize

The competition, open to young economists and researchers, is launched in collaboration with the SUERF (The European Money and Finance Forum). The prize awards the best papers on banking and banking regulation.

In 2019 the Scientific Commission has selected the three papers winners of the  7th SUERF/UniCredit Foundation Research prize":


- Maxime Bonelli with the paper "Labor Mobility and Capital Misallocation“


- Heiko Jacobs and Sebastian Mueller with the paper “Anomalies across the globe: Once public, no longer existent?"


- Karamfil Todorov with the  paper "Passive Investors Actively Impact Prices: Evidence from the Largest ETF Markets",.


Each paper will be awarded  with € 2,500.


All the winners are invited to present their paper at the conference in Milan at UniCredit, to be held 19 February 2020 (from 8:30 to 16:30)


Click here to see the list of all winners of the past Call.

Click here to see the 2018 Call (closed).

EEA Young Economist Award
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The Award is the result of the collaboration with the prestigious European Economic Association (EEA), with the aim to award 

the best papers presented by young economists during the Association’s annual conference. Theoretical work as well as applied studies are

taken into consideration without any restriction on the subjects handled.



The competition awards three prizes of € 2,000 each. In 2019, the 4th EEA Young Economist Award competition was won by:


  • Giulia Giupponi with the paper "When Income Effects are Large: Labor Supply Responses and the Value of Welfare Transfers" ;
  • Cian Ruane with the paper "The Aggregate Importance of Intermediate Input Substitutability;
  • Marta Santamaria with the paper "The Gains from Reshaping Infrastructure: Evidence from the Division of Germany"



best paper-suerf_eng

The UniCredit Best Paper Award is another Study and Research initiative set up by the Foundation exclusively for UniCredit employees, from any of the UniCredit Group’s legal entities.


Competition awards €2,500 each to the two UniCredit employees who presented the best paper in the field of economics, finance, law and social science.


The winners of the tenth edition are:

  • Luigi Carabelli author of the paper "Spillover Effects When Shareholders Are Distracted: Evidence From The US Market" and
  • Bertagna Andrea, Deliu Dragos, Lopez Luca, Nassigh Aldo, Pioppi Michele, Reffel Fabian, Schaller Peter, Schulze Robert, with the paper "Internal Default Risk Model: Simulation of Default Times and Recovery Rates within the new FRTB framework".



Click here to see the 2019 Call (closed).
Click here to see the list of all winners of the past Call.

Econ JM Best Paper Award
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The Award is conceived to give young student or graduate economists participating in the Economics Job Market, the opportunity to present a preview of their papers at a forum of a small but prestigious body of experts..


The competition is open only to Job Market candidates belonging to the network of European universities taking part in the Foundations Masterscholarship contest (Barcelona Graduate School of Economics, Bocconi University, London School of Economics, Mannheim University, Oxford University, SciencesPo, Stockholm School of Economics, Toulouse School of Economics).


The five best papers (four plus 1 more winner for equal merit) selected by the Scientific Committee for thie 6th Econ JM are (authors in alphabetical order):

- Jorge Abad with the paper  Breaking the Sovereign-Bank Nexus -

- Milena Almagro with the paper  Location Sorting and Endogenous Amenities: evidence from Amsterdam -

- Si Chen with the paper  Motivated Noisy Information Acquisition             -

- Cathrin Mohr with the paper  Carrots and Sticks: Targeting the Opposition in an Autocratic Regime -

- Bruno Pellegrino with the paper  Product differentiation, oligopoly, and resource allocation -


In addition, the Scientific Committee assigned a special mention as runner-up paper to  Roxana Mihet with the paper  "Who Benefits from Innovations in Financial Technology? "    


All the winners will be awarded in Rotterdan on 18 December 2019.

Click here to see the list of all winners of the past Call

Belgrade Young Economists Prize
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The Belgrade Young Economists Conference is organised in

collaboration with the Faculty of Economics at the University of Belgrade at the Belgrade Young Economists Conference. The competition, reserved for young economists participating in the conference,  awards a 1 prize of € 1,500.

In 2018, the 5th competition was won by:

Anja Grujovic (CEMFI Madrid) with the paper “Tasks, cities and urban

wage premia”,


Click here to see the 2018 Call (closed).
Click here to see the list of all winners of the past Call

cordusio award

UniCredit Foundation collaborates with Cordusio SIM, the strategic wealth management company of the Group, for the launch of a competition to support

economic research.


For the 2018 edition, Cordusio SIM has decided to open the competition to researchers of any nationality, but with a contract in place at the University of Bologna.


Click here to see the 2018 Call (closed).




The countries included in the UniCredit’s geographical perimeter are the following: Italy, Germany, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Russia, Serbia, Slovakia, Slovenia and Turkey