The Ph.D. in Economics of Sapienza University organized the 2nd Sailing the Macro Workshop that took place on the Island of Ventotene on September 18-20, 2022, at Centro Polivalente "Umberto Elia Terracini". The workshop aimed to bring together researchers in theoretical and applied macroeconomics to promote and discuss their current works and ideas.
Keynote Speakers
Luigi Iovino
Bocconi University
Gert Peersman
Gent University
Anna Rogantini Picco
Sveriges Riksbank
Conference Program
Opening Speech: Shifting and Asymmetric Central Bank Preferences
Alex Cukierman - Tel-Aviv University
Who is Afraid of Eurobonds?
Anna Rogantini Picco, Sveriges Riksbank
Parallel Sessions 1A & 1B
Parallel Session 1A
Chair: Anna Rogantini Picco
15:20-15:50
Unconditional monetary policy and inequality
15:50-16:20
Collateral-Constrained Agents and Macroeconomic Fluctuations
Parallel Session 1B
Chair: Elton Beqiraj
15:20-15:50
Monetary Policy, Asset Prices, and the Distribution of Wealth in the US
15:50-16:20
Systematic Monetary Policy and the Effects of Government Spending
Coffee Break & Poster Session 1
Consumer Bankruptcy: the Role of Financial Frictions
Firm heterogeneity, financial frictions and ambiguity
Average Inflation Targeting through the lens of a Behavioral Heterogeneous Agent New Keynesian Model
Financial Frictions, R&D & Monetary Policy
Parallel Session 1A (continued)
Chair: Anna Rogantini Picco
17:10-17:40
The Network Gravity of Global Banking
17:40-18:10
No country for young managers: Firm control rights and misallocation in general equilibrium
18:10-18:40
Climate Linkers: Rationale and Pricing
Parallel Session 1B (continued)
Chair: Elton Beqiraj
17:10-17:40
Unemployment Insurance, Precautionary Savings, and Fiscal Multipliers
17:40-18:10
The Euro Area Government Spending Multiplier in Demand- and Supply-Driven Recessions
18:10-18:40
Star struck, Monetary Policy and the Neutral Real Rate
Estimation of the impact of disruptions in global food commodity markets on economic activity and inflation
Gert Peersman, Gent University
Parallel Sessions 2A & 2B
Parallel Session 2A
Chair: Gert Peersman
09:45-10:15
Endogenous Uncertainty as Transmission Channel of Shocks to Inflation Expectations
10:15-10:45
Price rigidities, input costs, and inflation expectations: understanding firms pricing decisions from micro data
10:45-11:15
Demographic Trends and the Transmission of Monetary Policy
Parallel Session 2B
Chair: Marco Di Pietro
09:45-10:15
The Dollar and Global Financial Collapse
10:15-10:45
Population Aging, Relative Prices and Capital Flows Across the Globe
10:45-11:15
A simple model with liquidity
Coffee Break & Poster Session 2
Climate change and default probability: empirical evidence from Euro area
Non-bank financial intermediation: changes in the traditional transmission mechanism of monetary policy
Forecasting Cryptocurrencies Log-Returns: a LASSO-VAR and Sentiment Approach
Business cycle and factor income shares: a VAR sign restriction approach
Parallel Session 2A (continued)
Chair: Gert Peersman
12:05-12:35
Flexible prior beliefs on IRF in Bayesian VAR models
12:35-13:05
Can we estimate macroforecasters' mis-behavior?
Parallel Session 2B (continued)
Chair: Marco Di Pietro
12:05-12:35
Labor Share Decline and Productivity Slowdown: A Micro-Macro Analysis
12:35-13:05
Revisiting Labour Market Policy in Recessions
The (Mis)Perceived Slope of the Phillips Curve: Monetary Policy with Limited Aware Agents (with D. Debortoli, N. Pavoni, D. Zhang)
Luigi Iovino, Bocconi University
Parallel Sessions 3A & 3B
Parallel Session 3A
Chair: Luigi Iovino
09:45-10:15
Risky Business Cycles
10:15-10:45
Monetary Policy and Sentiment-Driven Fluctuations
10:45-11:15
The Labor Market Power Channel of Monetary Policy
Parallel Session 3B
Chair: Massimiliano Tancioni
09:45-10:15
The Global Transmission of U.S. Monetary Policy
10:15-10:45
The voices of monetary policy communications
10:45-11:15
The Price of War: Economic Effects of Financial Sanctions on the Russian Economy
Coffee Break & Poster Session 3
A Meta-Analysis on the Debt-Growth Relationship
Evidence on the Confounding Nature of the Main Business Cycle
CDS Dynamics: Tale of two inseparable shocks
Parallel Session 3A (continued)
Chair: Luigi Iovino
12:05-12:35
A general theory of tax-smoothing
12:35-13:05
Unemployment Risk, Liquidity Traps, and Monetary Policy
Parallel Session 3B (continued)
Chair: Massimiliano Tancioni
12:05-12:35
Rational Overoptimism and Moral Hazard in Credit Booms
12:35-13:05
Bank Credit and the Risk of Recession: the Role of Business Cycle Shocks