Tuesday, 31 January 2023, 9:15-18:30
Aula Pagani, Civitas Bd. Ex-U7 (floor 3)
Piazza Ateneo Nuovo, 1
20126 Milano – Italy
Due to the pandemic shock, inflation has "returned" in the eurozone. The energy crisis triggered by Russia's war in Ukraine has added further pressure, leading to a 10.6% headline inflation in October 2022. Supply-side developments related to energy markets and supply chains, or second rounds wage effects, are likely candidates for further inflationary pressure in the short term. The inflationary outlook is gloomy also in the medium term, as most of the favourable supply-side developments during the Great Moderation are at risk of undoing due to de-globalization forces reducing international trade and technological, capital, and migratory flows. Against these scenarios, the workshop assembles a group of policymakers and researchers to present and discuss recent scientific results and advance policy solutions. The morning session features a Keynote Speech by Mike Spence (NYU, Bocconi). A Policy Panel follows the keynote speech contributed by Marco Buti (EC Commission), Daniel Gros (Center for European Policy Studies), and Agostino Consolo (ECB). The afternoon session is an academic session and foresees one Keynote Speech by Tommaso Monacelli (Bocconi University) and 4 CefES speakers (Andrea Colciago, Gino Gancia, Silvia Marchesi, Claudio Morana).
PROGRAM
9:15 Welcome: Giovanna Iannantuoni (Rector UNIMIB), Claudio Morana (CefES Director)
9:30-10:30 Keynote Speech: Mike Spence (Bocconi University; New York University) “Beyond the Great
Moderation? Deglobalization and secular inflation”
10:30-11 Coffee Break
11-12:45 Policy Panel: Patrizio Tirelli (University of Pavia; CefES)
12:45-14:30 Lunch
14:30-15:30 Keynote Speech: Tommaso Monacelli (Bocconi University) “The Origin of Inflation”
15:30-16:00 Coffee break
16:00-17:30/18:00 CefES Session
17:30/18:00 Concluding Remarks – Silvia Marchesi (CefES Vice-Director)
19:00 Cocktail reception + Dinner