2020 CefES-JRC Conference Series

2nd CefES International Conference

Socio-Political and Economic Divide in Europe and Global Policies

15-16 June 2020 - Online

In collaboration with

Keynote Speakers
Jeffrey Frieden (Harvard University)
Barbara Rossi (Pompeu Fabra University)
Fabiano Schivardi (Luiss University)
Keynote Panelist
Catherine De Vries ((Amsterdam University)
Stefanie Walter (University of Zurich)
Charles Wyplosz (University of Geneva)
Silvia Merler (Algebris)
Scientific Committee
Lucia Alessi (JRC, European Commission)
Guido Ascari (University of Pavia & Oxford University)
Nauro Campos (University College London)
Alessandra Casarico (Bocconi University)
Italo Colantone (Bocconi University)
Hans Degryse (Leuven University)
Axel Dreher (Heidelberg University)
Giovanni Federico (University of Pisa)
Massimo Filippini (ETH Zurich)
Fabio Franchino (University of Milan)
Nikitas Kostantinidis (IE University)
Tommaso Monacelli (Bocconi University)
Bruno Parigi (University of Padova)
Panu Poutvaara (University of Munich & Ifo)
Tiziano Ropele (Bank of Italy)
Lorenza Rossi (University of Pavia)
Jan-Egbert Sturm (ETH Zurich)


Monday, June 14 - Day 1

8:30 – Registration Opens: Building U6, Ground Floor: Atrium
9:00 Opening Room U6/1f: Patrizio Tirelli, CefES Director – Opening address
9:15-10:30 Room U6/1f: Keynote speaker:
  • Andrew Moravcsik (Princeton University)

    The Bark is Worse than the Bite: Why Populist Foreign Policies are Doomed to Disappoint

    Chair: Axel Dreher (CefES, Ruprecht-Karls-University Heidelberg)

10:30-11.00 coffee break Atrium
11:00 -13:00 Parallel Session 1
Room U6/1a: Migration Session chair: Mariapia Mendola
  • John Lewis (Bank of England)

    The Macroeconomic Determinants of Migration

    Discussant: Alessandra Venturini

  • Alessandra Venturini (University of Torino)

    Drivers of cultural consumption of immigrants: evidence from an Italian survey

    Discussant: Ann-Marie Sommerfeld

  • Ann-Marie Sommerfeld (University of Goettingen)

    Should I Stay or Should I Go? Migration Decision-Making in a Multiple-Phase Model

    Discussant: Mariapia Mendola

  • Mariapia Mendola (University of Milano-Bicocca)

    Cultural Diversity and Immigrant Inventors in the Age of Mass Migration

    Discussant: John Lewis

Room U6/1b: Macro I Session chair: Rajssa Mechelli
  • Rajssa Mechelli (Catholic University of Milan)

    Competition and Inequality: Aiyagari meets Bertrand and Cournot

    Discussant: Francesco Scervini

  • Francesco Scervini (Pavia University)

    Intergenerational Precautionary Saving in Europe

    Discussant: Tom Schmitz

  • Tom Schmitz (Bocconi University)

    The IT Revolution and Southern Europe's Two Lost Decades

    Discussant: Jacopo Bonchi

  • Francesca Crucitti (University of Milan)

    Declining Labor Share and Capital Misallocation

    Discussant: Rajssa Mechelli

Room U6/1c: Regional convergence Session chair: Giuseppe Travaglini
  • Nicola Pontarollo (Joint Research Centre, European Commission, Ispra, Italy)

    Challenges and Opportunities to Regional Renewal in the European Union

    Discussant: : Paulino Montes-Solla

  • Paulino Montes-Solla (Universidade da Coruña,)

    EU Regional Policy and Development in Spain: Capital Widening and Productivity Stagnation over 1989-2010

    Discussant: Giuseppe Travaglini

  • Giuseppe Travaglini (Urbino University)

    Unwrapping TFP in the Eurozone

    Discussant: Nicola Pontarollo

  • Mauro Lanati (European University Institute)

    Foreign Assistance and Emigration: Accounting for the Role of Non-Transferred Aid

    Discussant: Larry Crump

Room U6/1d: Europe and Governance Session chair: Christina Scheider
  • Christina Scheider (University of California San Diego)

    Public Commitments as Signals of Responsiveness in the European Union

    Discussant: Eyal Rubinson

  • Eyal Rubinson (NATO Defense College)

    Sharing the Gains of European Integration

    Discussant: Lucia Dalla Pellegrina

  • Lucia Dalla Pellegrina (University of Milano-Bicocca)

    Estimating Judicial Ideal Points in a Bidimensional Court

    Discussant: Christina Schneider

13:00 - 14:00 lunch break Atrium
14:00 16:00 Parallel Session 2
Room U6/1a: Conflict and inequality Session chair: Mario Gilli
  • Simon Hug (Université de Genève)

    Transparency and accountability in the European Parliament

    Discussant: Mario Gilli

  • Mario Gilli (University of Milano-Bicocca)

    Countries Cooperation and Transnational Terrorism. A Normative Analysis of Strategic Spillovers

    Discussant: Marco Mantovani

  • Marco Mantovani (University of Milano-Bicocca)

    Electing Moderates

    Discussant: Simon Hug

  • Larry Crump (Griffith University)

    Intractable Conflict and Confidence‐Building in Regional Associations: The Case of the Union for the Mediterranean

    Discussant: Mauro Lanati

Room U6/1b: Macro II Session chair: Enzo Dia
  • Enzo Dia (University of Milano-Bicocca)

    Fiscal sustainability under entitlement spending

    Discussant: Mario Di Serio

  • Matteo Tomaselli (University of Trento)

    The Determinants of Austerity in the European Union 2010-16

    Discussant: Pompeo Della Posta

  • Mario Di Serio (Salerno University)

    The Euro-Area Government Spending Multiplier at the Effective Lower Bound

    Discussant: Enzo Dia

  • Pompeo Della Posta (University of Pisa)

    A Market-Financed and Growth-Enhancing Investment Plan for the Euro Area

    Discussant: Matteo Tomaselli

Room U6/1c: Banking Regulation Session chair: Marcella Lucchetta
  • Leonardo Gambacorta (Bank for International Settlements)

    How Post-Crisis Regulation has Affected Bank CEO

    compensation Discussant: Marcella Lucchetta

  • Marcella Lucchetta (University of Venice)

    Bad Bank Resolutions and Bank Lending

    Discussant: Simone Boccaletti

  • Simone Boccaletti (University of Milano-Bicocca)

    Releasing News about Capital Requirements: Does the Disclosure of SREP Results Affect Banks’ Returns?

    Discussant: Tommaso Oliviero

  • Tommaso Oliviero (University of Napoli)

    Deposit Insurance and Banks’ Deposit Rates: Evidence from the 2009 EU Policy

    Discussant: Leonardo Gambacorta

Room U6/1d: Macro III Session chair: Lorenzo Carbonari
  • Atanas Pekanov (Austrian Institute of Economic Research)

    The Marginal Propensity to Consume, Hand-to-Mouth Households and Fiscal Multipliers in EU countries

    Discussant: Francesca Crucitti

  • Jacopo Bonchi (Pavia University)

    Not All Bubbles are Alike with Low Interest Rates

    Discussant: Dallal Bendjellal

  • Dallal Bendjellal (Aix-Marseille University)

    Sovereign Risk and Financial Fragility

    Discussant: Lorenzo Carbonari

  • Lorenzo Carbonari (University of Roma Tor Vergata)

    Collateral and Development

    Discussant: Atanas Pekanov

16:00-16:30 coffee break
16:30 - 17:45 Room U6/1f: Keynote speaker:
  • Reint Gropp (Halle Institute for Economic Research)

    The Cleansing Effect of Banking Crises

    Chair: Bruno Parigi (CefES, University of Padua)

18:00 - 19:30 Parallel Session 3
Room U6/1a: Populism Session chair: Elena Manzoni
  • Thomas König (University of Mannheim)

    National Partyism: From Institutional Choices Toward Euroskeptic Populism in European integration

    Discussant: Edgar Sanchez Carrera

  • Edgar Sanchez Carrera (Urbino University)

    Supporting or not Populism

    Discussant: Elena Manzoni

  • Elena Manzoni (Verona University)

    Populism, the Backlash against Ruling Politicians and the Possible Malfunctioning of Representative Democracy

    Discussant: Thomas König

Room U6/1b: Financial linkages Session chair: Pietro Battiston
  • Mikhail Stolbov (Moscow State Institute of International Relations)

    Macrofinancial Linkages in the EU countries: Evidence from Quantile Local Projections

    Discussant: Diego Scalise

  • Pietro Battiston (University of Milano-Bicocca) Growth and Financial

    Exposition in Time of Crisis Discussant: Mikhail Stolbov

    Diego Scalise (Bank of Italy)

  • Cuius Regio Eius Religio

    Financial Development and Growth in European Regions

    Discussant Pietro Battiston

Room U6/1c: Macroeconomic risk Session chair: Matthias Hartmann
  • Paolo d’Imperio (University or Rome)

    Sources of Output Variability and Risk Absorption Channels in the US and the Euro Area

    Discussant: Matthias Hartmann

  • Matthias Hartmann (Bundesbank)

    Overconfidence Versus Rounding in Survey-Based Density Forecasts

    Discussant: Paolo d’Imperio


Room U6/1d: Global financial risks Session chair: Lucia Alessi
  • Ana Laura García and Vigor Husetovic (University Pompeu Fabra Barcelona)

    Does Fintech Contribute to Systemic Risk? Evidence from the U.S. and Europe

    Discussant: Donatella Baiardi (University of Parma)

  • Claudio Morana (University of Milano‐Bicocca)

    Climate change implications for the catastrophe bonds market: An empirical analysis

    Discussant: Vigor Husetovic

  • Lucia Alessi (European Commission, Joint Research Center)

    The Greenium Matters: Evidence on the Pricing of Climate Risk

    Discussant: Claudio Morana

20.00: Social dinner: Restaurant SottoSopra - Viale Piero e Alberto Pirelli 16

Tuesday, June 15 - Day 2

8:30 – Registration Opens: Building U6, Ground Floor: Atrium
9:00-11.00 Parallel Session 4
Room U6/1a: European Policies I Session chair: Olga Francova
  • Fabio Franchino (University of Milan)

    Regulatory Discretion, Noncompliance Risk and Enforcement Regimes: Explaining Positions on Fiscal Governance Design in the European Union

    Discussant: Riccarda Longaretti

  • Riccarda Longaretti (University of Milano-Bicocca)

    Emergence of Asymmetric Fiscal Federalism: Centrifugal and Centripetal Forces

    Discussant: Olga Francova

  • Olga Francova (European Stability Mechanism)

    Enforcing EU Fiscal Rules: Transaction Costs Politics Approach

    Discussant: Octavia Cerchez

  • Octavia Cerchez (Geneva Interdisciplinary Centre for Economics and Law)

    What future for the Euro-Mediterranean Partnership?

    Discussant: Fabio Franchino

Room U6/1b: Climate change and Energy Session chair: Teresa Randazzo
  • Teresa Randazzo (University of Venice)

    Climate change impacts on household electricity expenditure: the contribution of air conditioning in OECD countries

    Discussant: Lorenzo Esposito

  • Lorenzo Esposito (Bank of Italy)

    The EU framework for sustainable finance: a chance for change or more of the same?

    Discussant: Andrea Bastianin

  • Andrea Bastianin (University of Milano-Bicocca)

    Convergence of European natural gas prices

    Discussant: Maria Consuelo Pucheta-Martinez

  • Maria Consuelo Pucheta-Martinez (Universidad Jaume I)

    Is Environmental Reporting Affected by Developed Economies, Liberal Countries and Board Structures? An International Perspective

    Discussant: Teresa Randazzo

Room U6/1c: Macro IV Session chair: Nuno Cassola
  • Nuno Cassola (European Central Bank, CefES)

    The Collateral Channel of Open Market Operations

    Discussant: Marco Di Pietro

  • Marco Di Pietro (Sapienza University of Rome)

    The Bank Monitoring Channel of Business Cycles

    Discussant: Nicola Acocella

  • Nicola Acocella (Sapienza University of Rome)

    The “Uncovered Inflation Rate Parity” Condition in a Monetary Union

    Discussant: Matteo Fragetta

  • Matteo Fragetta (Salerno University)

    Does One Size Fit All in the Euro Area? News from Counterfactual Analysis.

    Discussant: Nuno Cassola

Room U6/1d Macro V Session chair: Teresa Sousa
  • Miguel Ampudia (European Central Bank)

    Monetary Policy and Household Inequality

    Discussant: Teresa Sousa

  • Teresa Sousa (Cefage – University of Evora)

    A Key Currency Trap

    Discussant: Miguel Ampudia

  • Bas van Aarle (Catholic University Leuven)

    Effects of Brexit on the Irish economy: Estimates from a Stylized Macroeconomic Model

    Discussant: Tania Masi

  • Tania Masi (University of Milano-Bicocca)

    Life after Default: Private vs. Official Sovereign Debt Restructurings

    Discussant: Bas van Aarle

Room U6/1e Income Inequality Session chair: Donatella Baiardi
  • Ilias Georgakopoulos (Central Bank of Malta)

    Income and Wealth Inequality in Malta: Evidence from Micro Data

    Discussant: Virmantas Kvedaras

  • Virmantas Kvedaras (European Commission, DG Joint Research Centre)

    Change and Convergence of Income Distributions in European Union during 2007-2014

    Discussant: Donatella Baiardi

  • Donatella Baiardi (University of Parma)

    Financial Development and Income Distribution Inequality in the Euro Area

    Discussant: Ilias Georgakopoulus

11:00-11.30 coffee break