[3] Following his graduation Caravale worked in the research department of the Banca Nazionale del Lavoro, a credit institution.

[3] In addition to his post at the Senate he began teaching economics and fiscal policy at the University of Pescara.

[3] He became a full professor in 1972 at the University of Perugia and left his job at the Italian Senate.

[1][4] After the end of his ministerial role Caravale continued to teach at the Sapienza University of Rome from June 1996.

[2] A book entitled Competing Economic Theories: Essays in Honour of Giovanni Caravale was published in memory of him in 2002.